:TheInfrastructure Asset Development
In pursuing India's economic ascent to become the world's third-largesteconomy by 2027, one critical aspect is the development of infrastructureassets. While India has made substantial progress in recent years, thereremains room for growth, especially in sectors such as Material HandlingEquipment (MHE), where the current utilization is notably lower compared todeveloped nations.
A burgeoning demand for MHE is observed in various sectors, includingInfrastructure, Metro, Construction, Port, Defence, and Railways. According toa recent report by Morgan Stanley, India will contribute to a fifth of globaleconomic growth over the next decade and become the world's third-largesteconomy with a GDP of 8.5 trillion by 2027. This would make India the first emergingmarket economy to join the G3, the group of the world's three largesteconomies.
At Mtandt, our primary focus is enhancing work efficiency and safetywhile maintaining cost-effectiveness in supporting India's ambitiousinfrastructure development goals. A growing trend in the access industry isadopting hybrid equipment, combining electric and diesel power sources. Thishybrid approach offers enhanced versatility, fuel savings, and the advantage ofindoor and outdoor operation. Many companies are already localizing theproduction of MHE, providing competitive pricing advantages.
The incorporation of telematics and virtual reality training methods isset to make equipment operations safer and more productive. The introduction ofnew EN and ANSI standards in 2022 has significantly improved the safety andease of use and maintenance of Mlift Access Equipment, including mandatoryanti-crush and overload cut-off features.
Manufacturers of MHE are increasingly investing in research anddevelopment, localization, cost-effectiveness, advanced technologies, andafter-sales service and training. The focus is on advancing technology toensure safe, efficient, and easy operation. A comprehensive package shouldoffer top-notch features, user-friendliness, stringent quality control, andcompetitive pricing, all of which customers are willing to pay for.
Mlift-Access Equipment now boasts several features that benefit usersacross sectors, including construction, maintenance, and manufacturing:
- Adherence to New Safety Standards with Additional Features.
- Greater use of Electric-Powered Equipment for Environmental Benefits.
- Utilization of High-Strength Steel to reduce equipment weight, saving fuel and transportation costs.
- Increased Capacities and working heights, saving valuable time.
- Fewer parts and an 80% overlap in parts across the range for faster and easier maintenance.
- Integration of Digital technology and the Internet of Things (IoT) for transparency in equipment use and billing, as well as theft prevention and unauthorized use.
Major buyers of MHE include rental companies, Cement Plants, PowerPlants, Steel, Oil & Gas, Infrastructure, Construction, Railways, RoadDevelopment, Entertainment, and Malls.
The adoption and awareness of Material Handling and Mlift AccessEquipment in India and the SAARC region are still nascent. However, weanticipate exponential growth in the next five years, driven by the benefitsthese equipment offer in terms of cost efficiency, safety, and productivity.
Key to this growth is increasing awareness and ensuring that thisequipment is readily available when customers need it. Notably, there is agrowing demand for Material Handling Equipment from medium and largeconstruction, infrastructure, and cement-related companies, with the demandsurpassing 300.
As India continues to develop its infrastructure, the role of MHE andMlift Access Equipment will be pivotal in driving the nation towards its goalof becoming the world's third-largest economy by 2027.
Mr Rakesh Modi
Chairman Mtandt Limited