India is set to become the world's thirdlargest market for construction equipment next year, surpassing Japan, as the country's significant infrastructure investments pave the way for increased demand, said a top executive at CNH Industrial, an European maker of loaders and excavators.
Currently, China leads the global market for construction equipment, followed by the US and Japan.
CNH Industrial's CASE construction unit, a $3.5 billion company, has multiple manufacturing facilities in North America, South America and Europe, but India is its sole manufacturing hub in the Asia-Pacific region, where it is ramping up capacities to 10,000 units annually by the next year, making it the second-largest factory for the company globally and its largest export hub, Stefano Pampalone, president of construction at CNH Industrial, said in an interview.
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