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Mining, construction equipment sector may face 20% volume dip in 2020: Icra

The domestic credit rating agency said it continues to maintain negative outlook for the domestic MCE sector based on the prevailing overall scenario

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After three strong years and industry volume peaking at about 94,000 units, CY2019 saw industry volume fall by 16%

3 min read Last Updated : Jul 21 2020 | 6:41 PM IST

The domestic mining and construction equipment (MCE) sector is likely to see a volume decline of over 20 per cent in calendar year (CY) 2020 on account of loss of sales in April and May, and an overall weakness in the economy, Icra said on Tuesday.

The domestic credit rating agency said it continues to maintain negative outlook for the domestic MCE sector based on the prevailing overall scenario.

"The MCE industry is expected to suffer a volume decline of over 20 per cent in CY2020, due to two months of lost sales and an overall weakness in the economy," Icra said

Topics : Coronavirus Mining Construction equipment COVID-19

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