Published at December 18, 2024 by InfraJunction
Schwing Stetter India, a wholly-owned subsidiary of Germany’s Schwing Group, is targeting strong double-digit growth in export revenue for 2025. The company aims to surpass the Rs. 200 crore milestone, as revealed by a senior official.
According to Madhavan Padmanabhan, Assistant General Manager, Commercial at Schwing Stetter India Pvt Ltd., “We are working on projects internally, engaging with customers, and onboarding new dealers from various countries which will give us results by next year and we will be able to increase our export sales by 30-40% to over Rs 200 crores in CY25.”
Schwing Stetter India is a leading manufacturer of a wide range of concreting equipment. Its product portfolio includes batching plants, concrete pumps, truck mixers, and recycling plants. The company also produces plastering pumps and self-loading mixers to meet diverse construction needs.
In 2024, Schwing Stetter India anticipates achieving a total revenue of Rs. 5,600 crore. This marks a 5% year-on-year growth for the construction equipment manufacturer. The company projects export revenue for the year to reach Rs. 150 crore.
Looking ahead, Schwing Stetter has ambitious growth targets. The company aims to double its total revenue to Rs. 12,000 crore by 2030. By 2037, it plans to further expand revenue to an impressive Rs. 25,000 crore.
Schwing Stetter India attributes its growth prospects to favorable macroeconomic conditions and rising infrastructure investments worldwide. Large-scale investments under the government’s National Infrastructure Pipeline are expected to drive significant growth.
Currently, the company’s exports to over 30 countries contribute around 3% to its total revenue.
Initially, Schwing Stetter anticipated a higher growth rate in exports for this year. However, the global economic slowdown and ongoing geopolitical challenges have led the management to revise growth expectations downward.
Madhavan further added, “Certain factors such as geopolitical turmoil and elections hampered the growth. Due to this, infrastructure contracts were not executed.”
The company remains optimistic about CY25. In a conversation with Autocar Professional, Madhavan stated: “In the initial three months of CY25 (also the last quarter of FY25), the government will spend its allocated budget, leading to good growth in the sector with exports increasing.”
When asked about export unit sales, Madhavan explained that due to the wide price range of products—from Rs. 10 lakh to Rs. 3.5 crore—it is challenging to measure export growth in terms of units sold.
Schwing Stetter India has achieved 85% product localization. Only essential materials, such as green steel, are imported to meet production requirements.
Among its five key segments—construction, concrete, material handling, mining, and foundation equipment—concrete contributes approximately 56% to the company’s overall growth.
In 2024, the German subsidiary introduced 16 new products and 14 variants. For 2025, the company plans to launch an additional 25-30 new products and variants, further expanding its portfolio.
According to the Indian Construction Equipment Manufacturers Association (ICEMA), the construction equipment industry witnessed a 26% year-on-year growth in FY24. Sales increased to 1.35 lakh units, compared to 1.07 lakh units in the previous fiscal year.
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