Caterpillar looks to consolidate position in India, rolls out 2 excavator models

Construction equipment major Caterpillar is looking to consolidate its position in the Indian market as it aims to bring in new products catering to various applications, a top company official said Wednesday.

The company, which Wednesday introduced two new excavators in the country, aims to become a leading player in the excavator segment. It currently has leading position in verticals like motor graders, wheel rollers and mining trucks in the country.

"India is a very important market for the company. It is the second largest construction equipment market in the world after China. We want to do well in this market and that is why we are bringing our best products here," Caterpillar Asia Pacific (Global construction and Infrastructure) Managing Director John A Fallows told reporters here.

The company has invested around USD 1 billion in the country so far and would continue to invest to bring in new products, enhance production capacity and expand sales network, he added.

He, however, did not share any details on the future investment in India.

"We are optimistic about the pace of infrastructure development here in India and we will continue to offer the best of our technologies and experience to meet the unique demands of our customers in the country," Fallows said.

He said that besides excavators, where the company aims to strengthen its position, Caterpillar is also focusing on expanding solutions in verticals like motor graders, wheel loaders and trucks among others, going ahead.

"We are leaders in excavators globally and we want to replicate the same in India as well...this year globally we aim to sell around 50,000 excavators. The Indian market for excavators is expected to move to around 25,000 units this year. This is the potential of India. We want our India sales to replicate our global sales," Giacomo Bottone, who heads Caterpillar's medium excavator product range globally, said.

The company has six manufacturing plants in the country. Some of the plants are also being utilised to export machines to various markets across the globe.

Commenting on new product launches, Caterpillar India Director Sales and Marketing (Global Construction & Infrastructure) Gurman Reen said the company is focussing on 20 tonne segment in the excavators as it accounts for 80 per cent of the demand in the country.

The Cat320D3 and Cat323D3 models (20 and 23 tonne), which are being rolled out of company's Thiruvallur (Tamil Nadu) plant, would cater to various segments including road construction and mining activities, he added.

The company already sells 13-tonne, 36 tonne and 49 tonne excavators in the country.