‘Boom pump demand to increase in India’
VG Sakthi, Chief Operating Officer, Schwing Stetter (India) Pvt Ltd speaks to Construction Week Online about the growth prospect of boom pump industry in India.
What is your assessment about the current market scenario of boom pump industry in India?
The market for boom pumps is slowly increasing. However, when compared to developed nations, it is still far too low. The major reason is that these boom pumps are still too expensive for the Indian Market. Secondly, it is also not being extensively used in the RMC and Real Estate Sectors. But I am sure in the years to come, the demand for boom pumps will certainly increase.
What is the outlook for 2011? How much growth is expected?
Without doubt, the construction equipment sector was one of the worst affected during the recession. We too felt the impact to a certain extent, given that real estate activity was much lesser than what we expected. However, despite the demand from the private construction sector going down, the various infrastructure projects announced by the Government have helped to keep the CE sector on track, overall.
Starting from the end of last year, we are seeing an increased demand for construction equipment, form various parts of the country. Some of the key tier II locations are also seeing increased construction activity and we believe that this will continue to grow. These are clear indications that the recovery process is well and truly on track.
Are you planning to launch any new boom pump product in 2011? What would be your market strategy?
We have always planned our expansion and introduced new products, drawing our cues from the market scenario and the needs of our customers. At present, we are reviewing the situation and we will announce our plans at an appropriate time. The potential for export is tremendous. However, our primary focus is Indian Market and the neighbouring countries, even though we have identified few products for production in India for the global market. We have also set-up a global sourcing department and are already in the process of identifying components that can be sold from India for the global market.