Greaves Retail  is making innovative, eco-friendly, and niche products in the construction equipment segment. In an exclusive interview, Narasimha Jayakumar, CEO, Greaves Retail, discusses the company’s entry into the sector, its latest product launches, and its future roadmap.

Can you tell us more about your latest product offerings and the rationale behind choosing these segments?
Our strategy is to introduce products with strong growth potential and less competition in terms of market saturation. The big excavator market, for instance, is already crowded, and entry barriers are high. Instead, we decided to focus on niche products like mini-excavators, which are witnessing tremendous growth. The mini-excavator segment currently has a demand of around 3,000 units annually and is growing at 12–14 percent.

We launched two electrically powered products—scissor lifts and boom lifts—designed to cater to the increasing demand for access equipment in urban infrastructure projects. In addition, we introduced specialised attachments like rock breakers, grapplers, and shears, which are crucial for larger excavators. We’ve partnered with Hammer, an Italian company renowned for its high-quality attachments. Hammer’s parent company, Indeco, is a leader in the global attachment market, and we have secured exclusive distribution rights for these products in India. This gives us a strong edge in the attachment segment.

How does your partnership with Hammer benefit the Indian market?
Hammer’s range of attachments is known for its durability and efficiency, which makes it ideal for the tough conditions of the Indian construction landscape. We can offer high-quality attachments like grapplers, shears, demolition machines, and rock breakers through our exclusive distribution agreement to Indian customers. These are essential for modern construction activities, particularly in demolition and urban redevelopment projects, where versatility and reliability are key.

Since these attachments are designed to complement larger excavators, we ensure our customers get the complete package. Our products will not just be limited to excavators but will include attachments that enhance productivity and reduce operational costs.

You’ve ventured into the access equipment market with electric scissor lifts and boom lifts. What makes this segment attractive for  Greaves Retail?
The access equipment segment is booming, particularly in urban areas, with a growing need for safe and efficient solutions for working at heights. Our scissor and boom lifts are electrically powered, a significant advantage as the industry moves towards sustainable and eco-friendly solutions.

Greaves Cotton has considerable expertise in electrical products. We can manufacture the key components—such as motors, controllers, and batteries—in-house, which gives us a competitive edge. The structure of the machines will be sourced externally, but all critical electrical components will be developed and produced at our facilities. This ensures that we maintain control over the quality and performance of the most crucial elements of the equipment.

What types of batteries do you use in your access equipment, and what makes them suitable for this application?
We offer both lead-acid and lithium-ion batteries for our scissors and boom lifts. While lead-acid batteries have been the traditional choice, the market is increasingly shifting towards lithium-ion technology due to its higher efficiency, faster charging times, and longer lifespan. The product we displayed at the launch uses lithium-ion batteries, but we also offer the lead-acid option for customers who may prefer it.

Lithium-ion batteries are particularly well-suited for access equipment because they support longer operational hours and reduce downtime, which is crucial for industries like construction and maintenance. This is especially important in high-demand environments where uptime is critical.

You also mentioned entering the excavator segment. What are your offerings in this space?
We are entering the excavator segment with machines ranging from 2 to 4 tonnes, primarily powered by internal combustion engines (ICE). While our excavators are not electrically powered, we are focusing on offering unique value propositions. For example, any excavator weighing over 2.5 tonnes has air conditioning as a standard feature, enhancing operator comfort, particularly in harsh working conditions.

Although we are not entering the large excavator market, we are concentrating on smaller models well-suited for urban construction and smaller projects. Our goal is to provide products that offer better operational efficiency and comfort, which are critical in today’s fast-paced construction environment.

Are there any plans to expand the product range or enter new segments within the construction equipment market?
We are currently focused on expanding our product portfolio within the existing segments. The idea is not to diversify into completely new categories but to strengthen our presence in the current market. For instance, we are increasing our range of attachments and enhancing the capabilities of our mini-excavators and access equipment.

We are also keen on exploring more electric-powered equipment as the market shifts towards greener alternatives. Our expertise in electrical technology gives us a solid foundation to introduce more sustainable solutions in the construction space.

Are you planning additional investments in your manufacturing capabilities to support this expansion?
We have already made significant investments in our existing facilities. Our Gummidipoondi plant, previously used for manufacturing concrete mixers and road compactors, has been renovated and repurposed for our current product line. This facility will be crucial in scaling production to meet the increasing demand for our new equipment.

As we gradually move towards in-house production of key components for our access equipment, we will continue to enhance our manufacturing capabilities. This will ensure quality control and allow us to respond more quickly to market needs.

What can we expect from  Greaves Retail in the coming years?
This is just the beginning. We are committed to expanding our product offerings in construction equipment and access solutions. Our focus will remain on delivering innovative, energy-efficient, and sustainable products. With the infrastructure boom in India showing no signs of slowing down, we are confident that our products will play a key role in shaping the construction industry’s future.

We are excited about the opportunities ahead and look forward to establishing ourselves as a leader in our niche segments. You can expect more launches in the coming years as we continue to innovate and respond to the market’s evolving needs.

For more information, visit: https://greavescotton.com/