Opportunity Space
From the looks of it if you’re a global construction equipment player, EXCON 2025 in India isn’t just another exhibition to tick off the calendar.
The trade show is shaping up to be one of the most strategically consequential platforms in the world and here’s why. Let’s talk about the backdrop, the emerging opportunities and why showing up now could put your firm years ahead of competitors.
Globally, the construction and heavy equipment sector is at an interesting crossroads.
In developed economies like Germany, the United States and Japan, growth has plateaued. Germany, for instance, has a fairly mature construction equipment market, with forecasts suggesting a CAGR of just 3.2 per cent from 2025 to 2035. Even more striking, some reports indicate volume growth at a mere 2.7 per cent for 2023–2029 and the construction industry has been in a slump. The U.S., with a larger market of around $44.7 billion in 2023, projects moderate growth to $57.1 billion by 2029 — a 4.16 per cent CAGR — but faces challenges such as labour shortages and a housing market slump.
Japan, while home to global OEMs, is constrained by demographic limits and domestic demand stagnation. In short, many mature markets are in a holding pattern: slow growth, high competition and incremental technological upgrades.
Now, compare that to India — and suddenly, the picture is very different. India is at the tipping point of an infrastructure revolution. Roads, railways, metros, airports and smart city projects are expanding at breakneck speed. The Indian construction equipment (CE) market is estimated at $8.55 billion in 2025 and is expected to hit roughly $ 12.76 billion by 2030, growing at about 8.3 per cent CAGR. Dig a little deeper and you see that the mining and CE sector is projected to balloon to $ 25 billion by 2030 — that’s a compound annual growth rate of almost 19 per cent. Importantly, India still relies on imports for roughly half the value of its CE components, though localisation initiatives are pushing this figure toward 70–80 per cent in the coming years. What this means for foreign players is simple: the growth runway is long and the opportunities are tangible, multi-layered and immediate.
So, why should a foreign company care about attending EXCON 2025 specifically?
Let’s break it down.
First, there’s the pure growth story. If your home market is maturing or facing headwinds, India represents a “growth on growth” scenario. German OEMs, for example, could leverage EXCON to explore Indian partnerships or manufacturing hubs, tapping into a faster-expanding market rather than battling incremental growth at home. U.S. companies with advanced technology in telematics, automation, or hybrid machines can showcase their products, shape early demand and create loyalty with Indian buyers.
Japanese firms can not only sell but embed their technology and production footprint into India’s manufacturing ecosystem, effectively using EXCON as a launchpad for their broader regional strategy.
Second, there’s the localisation and supply chain angle. India’s push to reduce dependency on imported CE components creates enormous opportunities for foreign firms willing to localise. Setting up partnerships, joint ventures, or local assembly operations allows companies to both participate in the domestic boom and capture potential exports. For instance, localisation in India could represent an annual Rs 25,000 crore opportunity by 2030.
EXCON serves as a one-stop shop: meet suppliers, assess potential partners and map manufacturing opportunities — all under one roof.
Third, the technology showcase factor cannot be understated. In markets like Germany or the U.S., most equipment upgrades are incremental. In India, there’s room to leapfrog: green equipment, digitalisation, smart fleet management and innovative rental models are still nascent. Foreign firms with cutting-edge tech have a chance to differentiate and gain early adopter advantage, especially with India’s construction sector hungry for productivity improvements.
Fourth, there’s the global supply chain shift — the “China + 1” dynamic. Many global firms are diversifying manufacturing and procurement away from over-reliance on China. India offers not only a massive domestic market but also a growing export potential, a cost-effective manufacturing base and a robust talent pool. For Chinese OEMs, this is particularly relevant. While Chinese companies already hold a significant market share in India — for instance, around 20–22 per cent of the excavator segment — EXCON provides a concentrated venue to reinforce and expand their footprint, strengthen partnerships with local suppliers and adapt to India’s localisation policies.
Speaking of China, let’s unpack why it, alongside other strategic countries, stands to gain. For Chinese players, the domestic market is large and mature, but global competition, rising costs and geopolitical uncertainties push them to diversify. India offers them a dual advantage: continue exporting to a growing market while establishing potential production or assembly hubs for regional exports. Moreover, India’s localisation push, moving from 50 per cent to 70–80 per cent, creates significant opportunities for component suppliers.
South Korea, Taiwan and Southeast Asian nations like Singapore and Malaysia also have a lot to gain. South Korea brings heavy machinery manufacturing and can target India’s localisation component demand. Taiwan and SE Asia, with their expertise in precision components, telematics and sensors, can supply India’s modern CE market — particularly in areas like smart construction and fleet digitisation. For Middle East and African exporters, India serves as both a destination and a springboard for exports, leveraging India’s rapidly growing domestic projects and its export network to 120+ countries.
Even smaller European nations such as Italy and Spain can benefit. With mature markets and niche technology expertise in hydraulics, attachments, or automation, they can showcase tech, partner with Indian OEMs and secure early advantage ahead of a fully competitive market. In short, EXCON is not merely a trade fair; it’s a strategic launchpad, a concentrated opportunity to meet buyers, OEMs and regulators and understand localisation, regulatory and policy dynamics in one place.
Beyond the obvious giants, emerging markets also stand to gain disproportionately. Take Vietnam: rapid industrialisation and infrastructure growth, but limited domestic heavy-equipment capacity, means Vietnamese component manufacturers and telematics firms can partner with Indian OEMs for entry into a high-growth CE market. Turkey, with strong engineering and hydraulics manufacturing but moderate domestic demand, can target niche equipment segments and partner with Indian contractors.
Brazil brings expertise in earth-moving and tropical terrain solutions; Mexico and the Philippines can leverage urbanisation synergies; Poland has precision component and automation capability; Indonesia and Thailand offer cost-effective, adaptable machinery; and Egypt, South Africa, all find export or technology partnership opportunities in India’s diverse project landscape.
Let’s not forget policy tailwinds. India is actively incentivising local manufacturing, supporting the engineering and machine tool sectors and enabling export orientation. Foreign firms can map policy incentives, engage policymakers and gain regulatory clarity in real-time at EXCON. Additionally, the event helps hedge risks: for markets experiencing stagnation or slowdowns — Germany, Japan, or the U.S. — India offers diversification into a high-growth environment.
Of course, success requires strategic thinking. Localisation matters: adapt products to Indian terrain and emission standards, plan for joint ventures and establish service networks. Tech differentiation is key: whether it’s green machines, telematics, or automation, companies need a clear value proposition. Post-event follow-up is crucial: EXCON is the beginning, not the end, of engagement. Establishing a local presence, onboarding distribution partners and servicing networks will separate winners from mere attendees.
To summarise, EXCON 2025 represents an extraordinary convergence of opportunity for foreign entities.
Home markets across Germany, the U.S., Japan and beyond are either mature, slow-growing, or facing headwinds. India, by contrast, is in a high-growth phase, with policy tailwinds, a localisation push, strong project pipelines and a large unmet demand for construction equipment.
Ergo, whether it’s China leveraging India as a “+1” hub, South Korea and Taiwan exporting high-tech components, European niche players showcasing automation and hydraulics, or emerging nations like Vietnam, Turkey, Brazil and Mexico embedding themselves into India’s growth story, EXCON offers a singular, concentrated platform to meet buyers, forge partnerships and to secure market share.
EXCON 2025 – BUSINESS GAINS
- High-Growth Market Access:CE market: $8.55 B → $12.76 B by 2030 (8.3 % CAGR); Mining & CE: $25 B (~19 % CAGR) Enter early to capture high-demand sectors, leapfrogging mature markets
- Localisation Opportunities: Imports 50 %, localisation push to 70–80 % by 2030; ~$3 B/yr potential Form JVs, assemble locally, access domestic & export markets
- Technology Showcase: Green machines, digitalisation, smart fleets, hybrid solutions Demonstrate advanced tech, differentiate as early adopter
- Global Supply Chain Diversification: “China + 1” trend; India offers cost-effective manufacturing, skilled workforce, export hub potential Reduce supply risk, diversify production, expand regional footprint
- Country-Specific Strategic Advantages: China: market share & localisation; South Korea/Taiwan/SE Asia: precision components; Europe: niche tech; Emerging markets: partnerships tailor strategy by region; leverage expertise to meet India’s growth and localisation needs
- Policy Tailwinds: Incentives for local manufacturing, engineering and CE sectors; map policies, engage regulators, unlock export-oriented schemes
- Networking & Market Intelligence: OEMs, suppliers, financiers, policymakers in one venue can identify partners, gather market intelligence, benchmark competitors.
- First-Mover Advantage:Early visibility, brand loyalty, readiness for India’s infrastructure boom Secure early entry to capture long-term market share
- Strategic Launchpad: Platform for JVs, localisation, tech integration, service networks, export potential One-stop venue for executing a multi-layered India strategy
- Market Validation & Customer Insights: Direct interaction with Indian contractors, OEMs, end-users; observe demand trends, validate products, test pricing, gather feedback, refine offerings for maximum market fit.
(The writer is a Mumbai based CE sector analyst, author and consulting editor)
