{"id":11894,"date":"2020-10-09T11:04:45","date_gmt":"2020-10-09T11:04:45","guid":{"rendered":"\/blog\/?p=11894"},"modified":"2022-07-06T10:01:32","modified_gmt":"2022-07-06T10:01:32","slug":"top-trends-in-construction-equipment-finance-market","status":"publish","type":"post","link":"https:\/\/tata-blog.osian.dev\/blog\/construction-loan\/top-trends-in-construction-equipment-finance-market\/","title":{"rendered":"Top Trends in Construction Equipment Finance Market"},"content":{"rendered":"\n

In the recent years, the construction\nequipment (CE) industry in India faced numerous headwinds because of the\nCOVID-19 outbreak, nationwide lockdown, low equipment demand, economic\nslowdown, and more. Not to mention, most CE equipment demand is driven by road\nprojects, which continues to suffer from a lack of adequate funds and delayed\ncontract payments since the last year. <\/p>\n\n\n\n

Given the current circumstances,\ninfrastructure spend in both public and private sector is unlikely to improve\nin the near terms. Moreover, the revenue for the CE industry is expected to\ndecrease up to 15-20% in 2020 estimates ICRA. Demand revival and accommodative\npublic policy seem to be the only ray of hope. <\/p>\n\n\n\n

Below, we look at the top trends in the construction\nequipment rental and finance industry in the CY 2020.<\/p>\n\n\n\n

Collaborations with OEMs<\/strong><\/h2>\n\n\n\n

Many Original Equipment Manufacturers or\nOEMs have exclusive contracts or tie-ups with major banks and NBFCs in India,\nin a move to extend financial support to the CE customers. Given the volatility\nof INR in the current times, OEMs and their dealers can collaborate with\npreferred lenders to provide enhanced credit approval and other financial\nsolutions to the buyers.<\/p>\n\n\n\n

Moreover, collaborations can be undertaken\nto improve the availability of construction financeto the borrowers \u2013 a way to boost the market for equipment rentals\nand used-equipment buybacks as well as exchanges. <\/p>\n\n\n\n

Additional Read:<\/strong> Construction Equipment Leasing Vs Financing- Which One Suits Your Business<\/a><\/p>\n\n\n\n

Automated finance process <\/strong><\/h2>\n\n\n\n

A typical equipment\nfinance<\/a> process takes around 5-30 days before the construction equipmentreaches the customer. To improve the\noverall process for CE finance, the sector has pushed for the automation of the\nfinance process. Given the increase in technology-enabled operations across\nindustries, the push comes as no surprise.<\/p>\n\n\n\n

Besides, the need for transparency in the\nCE finance process can drive the automation need furthermore. This includes\ntransparency in the entire transaction process, from documentation to the\nmonthly equated payments on the loan. <\/p>\n\n\n\n

Allied services<\/strong><\/h2>\n\n\n\n

Across industries, customer demand for\npersonalised, allied services has pushed the demand for enhanced flexibility in\nnon-standard, customised loan agreements in the CE finance industry. To thrive\nin the CE industry, many lenders now provide allied services which include\nbundling equipment, supplies, software, and equipment. <\/p>\n\n\n\n

Especially now, as most CE buyers suffer\nfrom reduced cashflow, lenders can harness alternative CE finances, collaborate\nwith OEMs on buyback schemes, create favourable rental options, and start\npay-per-use leases to meet the market demand innovatively. <\/p>\n\n\n\n

Additional Read:<\/strong> Will Construction Equipment Finance Market Grow Post COVID<\/a><\/p>\n\n\n\n

To sum up<\/strong><\/h2>\n\n\n\n

The construction equipment finance industry\nis presently in shambles. Especially as CE industry continues to experience\ndecline in revenue and borrowers suffer from weak credit profiles, access to\neasy finance will remain dicey. Decreased asset lifecycle and insufficient\nrental penetration in the CE finance market will also add to the misery.<\/p>\n\n\n\n

Nonetheless, for bespoke and convenient\nfinance solutions, you can rely on Tata Capital. Avail of a tailor-made construction\nequipment finance<\/a> with lucrative interest rate and favourable repayment\nterms. Our experts can help you find the best product based on the nature of\nyour proposed project.<\/p>\n\n\n\n

For more details, contact us today!<\/p>\n","protected":false},"excerpt":{"rendered":"

In the recent years, the construction equipment (CE) industry in India faced numerous headwinds. <\/p>\n

Read More<\/a> <\/p>\n","protected":false},"author":1,"featured_media":11898,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[57],"tags":[],"class_list":["post-11894","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-construction-loan"],"yoast_head":"\nTop Trends in Construction Equipment Finance Market | Tata Capital<\/title>\n<meta name=\"description\" content=\"Find out the major trends in the construction equipment industry in India at this Tata Capital blog. 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