Volvo Construction Equipment (Volvo CE) India plans to more than double its market share in the 20-tonne excavator segment. Currently holding a 4% share, the company is focusing on this crucial segment due to its significant size.
Excavators are the second-largest category in India’s construction equipment sector, with 30,000-35,000 units sold annually out of a total market of 136,000 units. The 20-tonne segment accounts for 70% of this demand, translating to 18,000-20,000 units sold each year.
“This segment is too important to ignore,” said Dimitrov Krishnan, Managing Director of Volvo CE India, though he did not specify a timeline for reaching the goal.
Volvo CE India, known for its strong presence in high-production segments like mining, is shifting focus to meet diverse customer needs. The new EC210 model, with nearly 70% localization, is designed specifically for the Indian market.
Volvo CE also announced a partnership with Shriram AutoMall (SAMIL) to create a strong ecosystem for exchanging and disposing of machines. This partnership aims to help customers replace their existing fleet with new Volvo machines.
