Construction equipment retail sales dip 2.25% in April

Among manufacturers, JCB India retained its leadership position and expanded its market share to 45.02 per cent in April 2026 from 41.18 per cent a year earlier
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Retail sales of construction equipment began FY26-27 on a muted note, declining 2.25 per cent year-on-year to 6,348 units in April 2026, compared with 6,494 units in the corresponding month last year, according to data released by the Federation of Automobile Dealers Associations.

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The April sales were also lower than the 6,906 units reported in March 2026. Construction equipment includes excavators, backhoe loaders, wheel loaders and bulldozers.

Among manufacturers, JCB India retained its leadership position and expanded its market share to 45.02 per cent in April 2026 from 41.18 per cent a year earlier. In contrast, the second placed Action Construction Equipment saw its market share decline to 11.55 per cent from 14.29 per cent during the same period.

However, the next players among the top — Ajax Engineering, Escorts Kubota and Bull Machines — registered an improvement in market share on a year-on-year basis, the FADA data showed.

Commenting on the retail sales trend, Ritu Goswami, Vice-President and Sector Head, Corporate Sector Ratings at ICRA Ltd, said the 2.25 per cent year-on-year decline in April 2026 was largely “optical”, as the base period in April 2025 had benefited from accelerated inventory clearance by OEMs and dealers ahead of the transition to CEV-V emission norms from July 1, 2025.

She added that the 8 per cent month-on-month decline from March reflected normal post year-end seasonality rather than any demand slowdown.

According to ICRA, the domestic infrastructure execution outlook remains supported by the Union government’s ₹12.2 lakh crore capital expenditure outlay in the FY27 Budget, including higher allocations for highways, railways, the Jal Jeevan Mission and the extension of PMGSY till 2028. The ratings agency has maintained its FY27 construction equipment industry volume growth forecast at 3–5 per cent.

Published on May 11, 2026