Business India ×
  Magazine:
Automobiles

Published on: June 26, 2024, 7:09 p.m.
Volvo’s new gameplan
  • Krishnan and Sid: we foresee exponential demand

By S.M. Boothem

Volvo Construction Equipment (Volvo CE), which specialises in developing, manufacturing, and marketing construction equipment, has recently introduced the EC210 hydraulic excavator to the Indian market. With the big boom in construction and infrastructure activities going on in full swing in India, Volvo CE’s entry into this 20-tonne segment will further help boost its market share. Built for Bharat, the new EC210 is packed with features and promises to offer superior performance, fuel efficiency, and lower maintenance costs. It is available at 300 outlets across the country.

The introduction of this excavator reinforces the company’s strong commitment to the growing Indian CE market by providing innovative and technologically advanced solutions designed specifically to meet the needs of customers in the country for a variety of applications, including light, medium, and heavy-duty tasks such as road building, rock breaking, general construction, waste management, quarries, and sand mining. Kamel Sid, Global Head of Operations at Volvo CE, unveiled the new excavator in the presence of Dimitrov Krishnan, Managing Director, Volvo CE India.

“As India embarks on its remarkable infrastructure growth journey driven by the government’s vision and commitment, we foresee exponential demand for construction and mining equipment across sectors such as rail, road, ports, airports, and power projects. At Volvo CE, we are committed to leading this transformation by offering India-centric solutions through our latest technological innovations,” said Krishnan. “The all-new EC210 exemplifies our commitment and approach to delivering products that provide ‘Zyada’ performance and reduced cost of ownership to the value-conscious Indian customer. With this product launch, we have also built a supporting ecosystem by widening our sales network, investing in digital technologies to enable 48-hour service assurance, and strategically partnering with Shriram AutoMall for easy exchange or disposal of used machines, thus enabling circularity,” added Krishnan.

Partner in progress

Alongside the EC210 launch, Volvo CE has also partnered with Shriram AutoMall (SAMIL), India’s largest ‘phygital’ marketplace for pre-owned vehicles and construction equipment. This collaboration aims to establish a robust ecosystem for machine exchange and disposal, serving customers interested in purchasing new Volvo machines by replacing their existing fleet. This initiative aligns with Volvo’s strategic ambition of promoting circularity in equipment lifecycle management, supporting sustainable practices for second-life and end-of-life disposal.

Talking about the business potential in India, Krishnan explains: “In this whole space, including general construction, road construction, and real estate, urban infrastructure is where we see the maximum activity now, and it’s going to grow much more. Look at the housing and the government’s focus on the water distribution activities and long-term plan for future river linking activities, and the 20-ton excavator is going to be the largest volume demand driver for us.”

  • As India embarks on its remarkable infrastructure growth journey driven by the government’s vision and commitment, we foresee exponential demand for construction and mining equipment across sectors such as rail, road, ports, airports, and power projects

According to the India Brand Equity Foundation (IBEF), India has to enhance its infrastructure to reach its 2025 economic growth target of $5 trillion. India’s population growth and economic development require improved transport infrastructure, including investments in roads, railways, aviation, shipping, and inland waterways. The construction equipment industry will play a major role in this mission. As per industry estimates, India is set to be the third largest construction market in 2024, and the construction equipment industry is likely to witness over $4.5 billion worth of investments in the next 6-7 years.

According to Volvo officials, the EC210 is the biggest launch for Volvo CE, and the company has set a target to get big numbers from the Indian construction industry. While global markets are slowing down, India stands out as a market where growth and demand are picking up. The interim budget presented in February 2024 clearly focused on infrastructure, reflecting the government’s emphasis on this sector. This will help boost numbers not only for Volvo CE but also for other Indian construction equipment players. Volvo CE is also betting big on Andhra Pradesh under the new chief minister, Chandrababu Naidu, and his extensive plans for the state’s projects.

“Volvo CE’s first product was introduced in 1998. We have been present for 25 years in Indian markets, offering a variety of products with cutting-edge global technology. When I look back over 25 years in this organisation, I can see so many stakeholders have developed well in their careers because they started with us and are doing extremely well in the industry today,” recalls Krishnan. With the infrastructure sector in India growing on a large scale, Volvo CE India is ideally placed to capture market share with its innovative products.

Cover Feature

Ola’s EVolution theory

Bhavish Aggarwal is confident of playing a big role in India’s EV revolution

Focus

Textiles goes circular

The textiles & apparel sector gears up to imbibe circularity into supply chain

Special Report

Will budget trigger a correction?

Market anticipates a correction amid budget expectations and investor activity

Corporate Report

India Cements: Facing a new normal

UltraTech buys stake in India Cements. What lies ahead?

E-MAGAZINE
Ola’s EVolution
Real and Happening
Coalition Challenge
FROM THIS ISSUE

Selections

Corporate Report

Government

F&B

Corporate Report

Law

Agriculture

The introduction of black pepper as an inter-crop in the sopari and coconut orchards, has enabled farmers to cultivate crops simultaneously

Skill Development

In 2020-21, the programme reached over 112,482 girls in urban and rural locations across six states in India, including 10,000 across Delhi

Collaboration

The event brought together stakeholders and changemakers to participate in a series of conversations on global trends and recent developments

Healthcare

The programme will focus on educating children on oral health and building awareness around the dangers of tobacco use

Biogas

German BioEnergy enters Indian market

Published on Aug. 17, 2023, 11:54 a.m.

BioEnergy will showcase its innovative biogas technology in India

Mobility

Ather looks to double its market share

Published on Aug. 17, 2023, 11:26 a.m.

Ather aims to produce 20,000 units every month, soon

Green Hydrogen

‘Kerala Hydrogen ecosystem a model for all states’

Published on Aug. 17, 2023, 11:06 a.m.

German Development Agency, GIZ is working on a roadmap for a green hydrogen cluster in Kochi

Renewable Energy

Adani Green eyes 45GW RE

Published on Aug. 17, 2023, 10:45 a.m.

AGEL set to play a big role in India’s carbon neutrality target