The Material Handling Equipment (MHE) Industry in India has a wide variety of products to offer to multiple industries depending upon the needs of that particular industry. This sector manages equipments that concern the storage, control and protection of materials, goods and processes throughout the manufacturing process. The industry extends up to the processes of distribution, consumption and disposal. It is classified into equipment categories like cranes, hoists, manufacturers, conveyors, scissor lifts, transfer trolleys, etc.
Since cranes impact the working of so many industries, the huge demand for this category of equipment is reflected upon the industry with the growth of crane manufacturers in India. Crane suppliers in India have thrived with the growth of industries like infrastructure, construction, automobile, shipyard, capital goods manufacturing, general engineering, transportation, energy, power, etc.
5 Challenges Faced by Crane Manufacturers in India
In spite of a promising future of the industry in a developing economy like India, here are some major problems which hamper the growth of the crane suppliers:
Slow Clearance Procedure
The clearance process includes collaboration with multiple agencies which makes the process painstakingly time consuming. Due to a lack of coordination, basic clearances end up slowing down the entire process.
High Working Capital
Due to factors like low cost recovery, high working capital, and long working capital cycles, the crane manufacturers in India are limited to a mere few. This leaves the market for those crane suppliers who are backed by large sources of funding.
Due to the lack of coordination between the local, state and central government bodies, there is a major delay that gets established right at the legal approval and documentation stage.
Unfavourable Laws and Taxes
Due to unfavourable taxes, the industry cannot fully grow. Profit margins have reduced and thus, investors could potentially lose interest in MHE.
Demand Supply Gap
Equipment that is technologically updated has a lot of demand right now. However, there is a shortage of skilled labour to be able to make the most of the available of the technology.
Meeka Machinery – Leading Crane Manufacturers in Gujarat
Meeka Machinery is one of the best crane manufacturer companies across Gujarat. It employs a skilled set of personnel to deliver customized solutions for all your types of cranes. Meeka Machinery strived to scale new horizons in the field of crane manufacturing. The present day scene in the crane manufacturing industry is changing and with that come numerous challenges. While some challenges are more difficult to overcome than others, the government is trying to create a more favourable environment for the crane manufacturers in India. Meeka Machinery, with its large repertoire of governmental, public projects, as well as private sector deals, is all set to face the tide of turbulence that is bound to hit the MHE industry soon.