India is set to overtake China to emerge as the second largest market for construction equipment after the US by the turn of this decade, according to Deepak Shetty, managing director of JCB India, the market leader in this segment.Sales of construction equipment in the local market declined by about 10% in the first 10 months of 2025 year on year "largely due to slowdown in disbursal of payments to small contractors by state governments," Shetty said."This year was an aberration.... However, monsoons have been good which will have a positive rub-off on sentiments in rural markets. Recent announcements of projects under PMGSY (Pradhan Mantri Gram Sadak Yojana) and by NHAI (National Highways Authority of India) will additionally help boost demand next year onwards," he noted.Rural markets account for nearly three-fourths of JCB's sales in the country. As much as 70% of the company's sales are to first time buyers.Around 95,000-100,000 construction equipment are expected to be sold in India this calendar, compared to 175,000 units in China.Yet, Shetty expects the massive potential for growth will help India catch up.
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