Due to increases in the price of essential components, access equipment’s input cost has increased.

Discussing the opportunities and challenges in the access equipment segment, Munish Taneja, President – Equipment Solutions, Indiabulls Store One suggests that the customers schedule the purchase of Access equipment since it requires more lead time and careful planning. 

Can you share your outlook on the access equipment market in India?

The access equipment market in India is expanding rapidly, and at this rate, we anticipate a 15-20 per cent growth over the next three years. Customers are looking for cost-effective ways to increase productivity. They find access equipment to be extremely useful in achieving high productivity. Large companies in cement, power, steel, infrastructure and industrial plants are planning CapEx to expand existing facilities; this will necessitate increasing access to equipment to complete these projects.

How do you see the adoption of battery-based/electric-powered equipment in India?

Access equipment powered by electricity is in high demand. The need for electric-powered access equipment is increasing with the constant rise in fuel prices, including diesel prices. This battery-powered access equipment has the added benefit of being quiet and emitting no pollution. They can also be used for indoor applications where using diesel-powered access equipment is difficult.

What are the procurement challenges in this segment? 

To overcome the supply chain challenges in the post-Covid era, customers should plan procurement of Access equipment as it needs higher lead time and better planning. Most of the access equipment in India is being imported. This has increased costs due to forex fluctuation and higher freight costs.

Furthermore, the input cost of access equipment has risen due to increases in the cost of critical components. Customers should choose equipment based on their application and site conditions and order it well in advance to avoid project delays. Customers prefer new access equipment over old ones because it is more technologically advanced and efficient.

How are these trends furthering consumers’ buying/leasing/renting patterns?

Customers in the access equipment segment prefer renting and leasing options. A customer typically obtains multiple access equipment for the start of short projects, so they prefer renting or leasing equipment over purchasing it. Aside from that, the customer does not want to deal with the headaches of maintaining and operating the equipment. They prefer professional rental or leasing companies that can take care of their machines and provide them with high-quality equipment. When a customer requires access to equipment for a more extended period, usually more than 2 to 3 years, it makes sense for them to purchase it.

Which new features and technologies do you offer in MEWP? Who are the primary buyers of these solutions? 

In India, Indiabulls Store One’s MEWP range includes the most recent access equipment such as electric scissor lifts, rough terrain diesel scissor lifts, articulated boom lifts, and telescopic boom lifts. Our equipment is CE certified and meets all safety standards. Our equipment has tip-over protection, forward and reverse alarms and gradient control. All the components used in our access equipment are of the highest quality and come from well-known global manufacturers. We have provided clients in the real estate, facility management, oil and gas, power, and industrial sectors. Our clients are repeat customers who want high-quality equipment at an affordable price. Aside from that, we have a strong service network with an in-house team, making our products highly reliable in meeting customer expectations regarding project deadlines.

How do you look at the market opportunities for access equipment in the coming years? 

In India, the access equipment market is in its early stages, and its use is currently limited to a specific customer segment. We expect the access equipment market to double in equipment and customers using these machines over the next five years. With MNC companies setting up shop in India, demand for high-quality access equipment with safety features will rise. Aside from that, Indian firms are experiencing a shortage of skilled labour. To deal with such situations, they prefer to use access equipment at their sites to increase productivity while using less workforce. It also helps to accelerate project execution.