The market seems to be bouncing back in the last few quarters or so. What's been the experience for India's largest industrial crane manufacturer?
We see an interesting boost in the overall sentiment of the industry, especially post ‘Make in India' campaign run by government. During last two quarters, many small and mid-sized projects has been initiated and we are witnessing increasing demand for cranes in various industry segments like infrastructure, steel, power, general manufacturing and warehousing. The policy and economic reforms implemented
by the government are pushing overall economy on the right track. However, such
big policy reforms surely need some minimum time to roll back the big projects on track. It has been observed that corporates are still playing safe on releasing plans for heavy and big projects. We hope that with the current momentum going on, companies will surely give green signals for their big projects and expansion plans. Overall we are optimistic with the industry going forward.
What is the size of the industrial cranes market in India and what is ElectroMech's share in that pie?
Industrial cranes segment is highly fragmented. According to our estimates, the industrial cranes market in India is approximately to the tune of Rs.1800 crore to Rs.2000 crore per annum. This market size has slightly shrunk in the past couple of
years due to the slowdown in the Indian economy. Approximately 30 per cent of the cranes are required by governmentowned companies and the remaining 70 percent comprises the requirement from private sector. Region wise distribution in
terms of quantities shows that Western India contributes 50-55 percent of the total requirement, while Southern India follows with 20-25 percent, Northern India with 15-20 percent,and Eastern India with 5-10 percent. Roughly 40 percent of the total crane industry in India is dominated by the top 10 manufacturers in the organised sector. The remaining market shares comprises of more than 300 small crane companies. ElectroMech has close to 10 percent of market share.
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