Panel Discussions on CVF Off Highway Throw Up New Information & Insights
The 2nd edition of India’s conference on CVF Off Highway held at Eros Hotel, Nehru Place, New Delhi, brought together senior professionals from the construction, mining, earthmoving, tractor, and agriculture equipment industry. It was attended by 250+ senior level executives, 40+ industry experts as speakers, and 35+ partners.
Harshvardhan Sharma, Head - Auto Retail Practice, Nomura, opened the proceedings with an inaugural presentation on the Indian Off Highway Industry. Giving a macroeconomic overview and the global GDP growth, he said: “The pandemic saw more than twice the impact we probably saw in 2008-2009 and we believe that with the ongoing geopolitical situation, inflation and tightening of policies, it will impact most of the economies. However, the good news for India is that it is leading the pack and we are likely to continue at the 7.8% growth forecast amongst our peers.”
The panel of experts debated on how the Construction and Mining Equipment segment faced similar challenges during the pandemic, but bounced back faster on the back of infrastructure spending and robust rural demand. Moderator Ashish Modani, Co-Group Head & Vice President, ICRA, set the tone by discussing the current situation, the challenges, outlook and trends for FY 2022-23.
Jaideep Shekhar, MD (Asia & EMEAR), TEREX (Material Processing India), said “In the last financial year, the industry has seen a 3% growth, however, Q3 was surprisingly below everyone’s expectations and there was de-growth in the industry by roughly 23%. The supply chain issues are an important factor behind this; however, the concrete machinery and the material processing segments did pretty well.”
Veteran industry expert Anil Bhatia maintained that if one looks at the overall scenario, you will have short-term hiccups because the geopolitical situation is very volatile: as finance rates go up, new equipment sales will go up and go down.
Said Sanjay Bajaj, VP, Head - Product Management, Wirtgen India, “In India, what we have seen in the last 1-2 years is that more than 40-50% are first-time buyers or new players. So, you just can’t rely on the existing players as they are also getting into sub-contracting. We need to penetrate newer markets and have products that are tailor made for projects, and which the customers can afford.”
The panel discussion on Tractor & Farm Equipment, moderated by Rahul Bhargava, Director Management Consulting Automotive Sector, PwC India, was on farming practices and how they will shape the growth of this segment.
Said Jujhar Singh Virk, President & Group Head (Strategy & Growth Avenues) at International Tractors (Sonalika & Solis), “Last year, the tractor industry crossed the turnover of commercial vehicles in terms of numbers, and this is a growing trend. Last year, in India, over 9 lakh farmers bought tractors from manufacturers.” He added that foreign countries like Germany, France, U.K and U.S.A have also started accepting Indian manufactured tractors.
G S Grewal, Jujhar Singh Virk, and Pradeep Rajan pointed towards the growth potential of the farm machinery sector in India. The contribution of tractors is over 90% in the farm equipment industry (INR 38,995 crores) and in 2020 (for the first time) tractor sales overtook sales of commercial vehicles. The underlying changes in the demand for drivers will also change how tractors of the future would evolve.
The panel discussion on “Digitization, Connectivity and Automation”, was moderated by Ashim Sharma, Partner & Group Head Business Performance Improvement, NRI Consulting & Solutions. “When we talk about connectivity, digitalization and automation in the off highway segment, we think of these machines not just as products, but as products with services loaded onto them, so much so, that they deliver solutions both in the farming and at construction sites,” he said.
S.K Jaruhar, Consultant, Kobelco Construction Equipment, added, “I got a first look at the telematics system way back in 2010 at Volvo; it was very innovative and unexpected.”
Ashish Jangale, Head - Precision Farming Solutions, Mahindra Tractor, spoke on how digitization and connectivity opens up a lot of new use and applications in agriculture, like land preparation, crop care, and harvesting, which are the three major stages in a crop’s growth cycle. “In today’s scenario, equipment can now be connected to IoT devices, and sensors can measure properties of soil on the go,” he said.
The session summed up how the emergence of new and advanced technologies are empowering owners, operators and dealers to access real-time updates on machines and insights into operations at project sites.
The third discussion shed light on the hot topic: Electrification and Hydrogen. Has the time come? It threw up information on new business models, the changing expectations of customers, technologies being developed by OEMs, and the way we are perceiving agricultural and construction equipment. The panellists also shared information on battery manufacturers, software capabilities of India, electric combustion and electric mobility, electrification and alternative fuels in the off-highway equipment industry.
In the discussion on “Off Highway Vehicle Rental, pay per use and financing in the post-Covid era,” panellists shared how renting equipment makes more economic sense. A few trends from the automotive industry like Ola and Uberization of taxis have trickled down to the construction and off-road equipment. India has been adopting trends like emission norms, technology transfer, and business models from the automotive sector into the off road, but there are concerns regarding the rising costs.
Drone Tewatia, Lead - Marketing & Business Development & KAM, PV Clean Mobility Technologies; Deepak Gupta, Vice President - Business Development, Bharat Forge; and Hrishikesh Kulkarni, CEO, Nandan Petrochem Limited, also gave some insightful presentations during the rather action-packed conference.
The CVF Off Highway conference is appreciated for its premium content and efficient on-ground execution. The next edition will be held in March 2023 in New Delhi and given the very good participation by the industry, the organisers expect a gathering of over 500 delegates, 60+ speakers and over 50 partners.
- NBM&CW April 2022
CCMA Successfully Hosts the 4th International Suppliers Conference 2023 on 'Construction Chemicals for the Next Gen'
The Construction Chemical Manufacturers Association (CCMA) has successfully organized the 4th International Suppliers Conference 2023 on "Construction Chemicals for the Next Gen" on the 4th and 5th of December, 2023, at Taj Vivanta, Navi Mumbai
EXCON Bigger & Better in 2023 - Puts the Spotlight on High-Tech Machines Alternate Fuels Electric Equipment Hydrogen Engines
Spread over 32,00,000 sqft of display area, CII Excon 2023 attracted over 75,000 visitors, 1,021 exhibitors, including more than 100 from overseas (as per preliminary figures; final will be revealed post-UFI audit), and participation
Sustainable Construction takes Center Stage at WOC India 2023
The 9th edition of World of Concrete India was organised by Informa Markets in India, a leading B2B event organizer, at the Bombay Exhibition Centre, Mumbai. The three-day event that concluded on October 20, 2023, was marked by the presence
EXCON 2023: A Window to India's Engineering Prowess & Global Competitiveness
There is a great deal of anticipation amongst exhibitors and visitors from across India and abroad for the upcoming Excon’23. The trade event, one of the largest in Asia in the infra construction equipment sector, has grown
Global Maritime India Summit 2023 Modernizing Logistics and Coastal Shipping
Prime Minister Narendra Modi, while inaugurating the third edition of Global Maritime India Summit 2023 held in Mumbai, remarked that India has a vast coastline, a strong riverine eco-system, and a rich cultural
India Warehousing & Logistics Show A key platform for knowledge sharing in Warehousing & Logistics Industry
The 10th-anniversary edition of the India Warehousing & Logistics Show (IWLS) is scheduled to take place for three days at the Bombay Exhibition Centre, Goregaon (E) in Mumbai from November 21st
Excon 2023 - Propelling India’s Technological Prowess & Global Stature
Preparations for the upcoming Excon 2023 edition are in full swing, with organizer CII, in collaboration with various departments of the Karnataka state government, planning key activities for the attendees. No doubt, given the impressive stature of the
Terex India Hosts TEXCON 2023
Terex India’s TEXCON 2023 event, held at its Hosur facility in Tamil Nadu, showcased an impressive line-up of Technological and Sustainable Solutions for Construction and Recycling Industries. P.P. Basistha reports. Terex, global manufacturer of materials
JCB India: Growing its Excavator Business Across Sectors
JCB India is leveraging its design and manufacturing capabilities to market its excavators as it aims to meet the rising demand from infra development projects. P.P. Basistha witnesses the company’s manufacturing prowess and wide range of products at the
Crane Owners Association of India Organizes 11th AGM
Cowners came together for the 11th Annual General Meeting of Crane Owners Association of India (COAOI) on 29th September 2023 at the Taj Palace Hotel, Mumbai. The gathering included esteemed members of COAOI. SANY India was the event’s partner
ICEMA: Laying the Foundation for a Transformative Future
ICEMA’s CE Technology Summit brought together industry leaders, innovators, and visionaries to identify key challenges in the development and adoption of advanced in-house technologies. “The Technology Vision Roadmap developed by the Construction
Demtech: Bigger & Better in 2023
The second edition of Demtech 2023 Conference and Exhibition, held at Bengaluru on the 28th and 29th September 2023, played host to 450 delegates, representation from 10 countries, and 45 exhibitors. The success of Demtech 23 has once again proved
CCMA to organize 4th International Suppliers Conference 2023 on “Construction Chemicals for Next Gen”
The 4th edition of the International Conference of Suppliers for leading manufacturers and suppliers of construction chemicals is being organized by the Construction Chemicals Manufacturers Association (CCMA). The conference will be held on 4th and
Mumbai to host 3-day India Warehousing & Logistics Show from November 21st
The 10th-anniversary edition of the India Warehousing & Logistics Show (IWLS) is scheduled to take place at the Bombay Exhibition Centre, Goregaon (E) in Mumbai from November 21st. This event, organized by RX India, a part of RX Global (www.rxglobal.com)
CVF Off Highway 2023 - Wraps Up with Remarkable Success
In a whirlwind one-day event featuring 10+ sessions with 40 esteemed speakers, over 35 partners, and a turnout of 350+ delegates, CVF Off Highway 2023 marked a triumphant close of its 3rd Edition. CVF Off-Highway has solidified its position as the
Green Compliant Office Buildings Boom in India
The recently released CBRE-CII joint report titled ‘Indian Real Estate: Taking Giant Strides - 2023 Mid-Year Outlook’ highlights the growing focus of developers and occupiers on sustainability, green-certified office stock in India, which has increased by over
ICEMA Organizes Annual Session on CE Industry
The 2023 Annual Session of ICEMA (Indian Construction Equipment Manufacturers Association) focused on Innovation, Investment, Sustainability and Localization as key imperatives for growth and presented perspectives of industry experts. Union Road
CVF Off Highway Forum - Shaping the Future of Indian Off Highway Equipment Markets
The highly anticipated CVF Off Highway Forum set to take place on August 24th, 2023, at Eros Hotel, New Delhi, will provide a platform for industry professionals to exchange ideas, explore collaborations, and drive innovation. This event will bring
First edition of Construction Tradeshow ‘Gujarat CONEX 2023’ to be held from 21st to 23rd September
Gujarat CONEX 2023, an international trade fair for Construction Machinery, Building Materials & Machines, Mining Machines, and Construction Vehicles is being organized by K and D Communication and Messe Muenchen India in collaboration
CSIR - CRRI Organises ‘One Week One Lab’ Campaign Highlights Waste to Wealth Initiatives
CSIR - CRRI (Central Road Research Institute) hosted a week-long celebration across four major cities - Delhi, Hyderabad, Odisha, and Shillong, during 16 July to 22 July, that showcased the technological breakthroughs and innovations of the CSIR