For decades, Volvo Construction Equipment (CE) has been synonymous with engineering excellence and sustainable innovation in the construction sector. With its robust machinery and pioneering technologies, Volvo CE has played a crucial role in shaping India’s infrastructure landscape—from highways and urban developments to large-scale industrial projects. At the helm of its India operations is Dimitrov Krishnan, Managing Director, Volvo Construction Equipment – India Business, a visionary leader who has driven the company’s commitment to eco-friendly solutions and market expansion. In this candid conversation with Sanjay Jadhav, Editor, Machine Edge Global, Krishnan shares insights into Volvo CE’s remarkable journey, its role in India’s growth story, and the company’s ambitious plans to lead the shift toward electric and low-emission construction equipment.
Volvo CE has long been recognized as a leader in the construction equipment industry. How would you describe its journey and legacy in India so far?
Volvo Construction Equipment’s journey in India has been one of innovation, trust, and sustainable progress, with deep commitment to the country’s growth story. Volvo CE India, with over 25 years of local presence and backed by 180+ years of global engineering excellence, has played a pivotal role in shaping the nation’s infrastructure. We were among the first to introduce fuel-efficient excavators and advanced telematics, transforming productivity and operational efficiency. A key milestone was being the first in India to launch electric construction equipment, reinforcing our commitment to sustainability. Our Peenya plant in Bangalore has become a global manufacturing hub, delivering world-class machines for domestic and international markets. From mining to road construction, our equipment has powered some of India’s most ambitious infrastructure projects.
With a wide service network, strong customer focus, and future-ready technology, we continue to be a trusted partner in India’s growth journey—driving innovation, safety, and sustainable progress in construction.
How would you assess the current state of India’s construction and infrastructure equipment market? What are the major growth drivers fueling demand in this sector today?
India’s construction equipment (CE) industry is experiencing robust growth, with projections indicating a market size of $25 billion by 2030, growing at a CAGR of 12% . This expansion is fueled by substantial infrastructure investments, including the National Infrastructure Pipeline (NIP), which envisions over $1.4 trillion in investments by 2025. Key growth drivers include urbanization, industrialization, and government initiatives like Smart Cities and Housing for All. The CE market encompasses a diverse range of machinery, with earthmoving equipment dominating the segment. The industry’s growth is further supported by the increasing availability of financing options and a focus on technological advancements to meet the demands of modern infrastructure projects.
Road development is a key priority for the government. What role is Volvo CE’s compaction business playing in building better Indian roads?
Volvo CE plays a significant role in India’s road development initiatives through its advanced compaction equipment. The company’s range of compactors is designed to meet the diverse requirements of road construction projects, ensuring high-quality and durable road surfaces. By incorporating features like intelligent compaction systems and fuel-efficient engines, Volvo CE’s compactors contribute to faster project completion and reduced environmental impact. Their equipment supports the government’s focus on expanding and modernizing the road network, thereby facilitating improved connectivity and economic growth. Volvo CE’s commitment to innovation and quality underscores its contribution to building better roads in India.
Sustainability is becoming central to CE innovation. How is Volvo CE contributing to the global and Indian shift towards electric and low-emission construction equipment?
Volvo CE is leading the shift toward electric and low-emission construction by being the pioneers of introducing electric construction equipment in India, and setting a new benchmark for sustainability in the industry. Globally, we’ve committed to making our entire product range fossil-free by 2040. In India, our electric machines support the nation’s green infrastructure goals, offering zero-emission, low-noise solutions ideal for urban and sensitive environments—paving the way for cleaner, more sustainable construction. By investing in research and development, Volvo CE continues to innovate and offer solutions that meet the evolving needs of the industry while prioritizing environmental responsibility.
What challenges do you foresee in the electrification journey, especially in a diverse and demanding market like India?
The diverse and demanding operating conditions across the country require machinery that can perform reliably in various environments. Additionally, the lack of widespread charging infrastructure poses a hurdle for the adoption of electric equipment. High initial costs and limited awareness about the benefits of electric machinery further impede progress. To overcome these challenges, a collaborative approach involving government support, infrastructure development, and industry innovation is essential. By addressing these issues, India can accelerate the transition to sustainable construction practices and reduce the sector’s environmental impact.
How do you see the construction equipment industry evolving in the next 5 years, both globally and in the Indian context?
Over the next five years, the construction equipment industry is expected to undergo significant transformation both globally and in India. In India, the market is projected to reach $25 billion by 2030, driven by infrastructure development and government initiatives . Globally, the industry will likely see increased adoption of electric and autonomous machinery, integration of advanced technologies, and a focus on sustainability. In India, the emphasis will be on developing equipment suited to local conditions, enhancing manufacturing capabilities, and building a skilled workforce. The industry’s evolution will be shaped by the need for efficiency, environmental responsibility, and the ability to meet the complex demands of modern infrastructure projects.