Foundation Industry Out of The Slumber Zone?
The foundaƟon and piling industry is seeing renewed acƟvity aŌer a hiatus of 5-6 years. Equipment manufacturers, anƟcipaƟng compeƟƟon, are gearing up with both premium and economical opƟons to meet buyer demand. P.P. Basistha reports on the current market scenario.
After a prolonged hibernation since 2011, the piling and foundation industry began to see signs of revival in 2015 with fresh demand for foundation laying in metro railway projects, roads and bridges, and to a fair extent from marine construction. A good number of greenfield LNG terminals were also getting lined up.
Looking back, the market, which was in high traction during 2008-2009, and even during 2010 and 11, hovered around 150 units across product verticals, propelled by the boom in infrastructure projects, and to an extent, in the real estate sector. Then came the crash, the signs of which were visible in mid-2011, plummeting the market to 15-20 units during 20122013. With demand diminishing, and difficulty in paying back bank loans, both main contractors and rental agencies resorted to heavy selling of their equipment, even scrapping some, and diverting others to Canadian and African markets. According to industry estimates, close to 60 units were scrapped, sold or replaced during the period.
The year 2016 saw fresh demand from infrastructure projects, with the population going up from around 1300 units in early 2017. An additional 100200 units are expected by 2017-end. Though manufacturers are looking at sizeable business opportunities, the current scenario may not be too rosy as more and more customers are opting for cost-competitive products.
Sany India is promoting its new range of hydraulic piling rigs for undertaking tasks on harder strata at deeper depths that require equipment with higher torque and speed. Says “Our hydraulic piling rigs meet all the requirements with their higher torque, to perform faster drilling resulting higher
Mr. Deepak Garg, CEO, Sany South Asia,