Bengaluru: One of India’s leading crane and construction equipment manufacturers, Action Construction Equipment Ltd (ACE) has signed a Memorandum of Understanding (MoU) with Sanghvi Movers Ltd to promote its indigenously manufactured construction equipment.
According to the MoU, Sanghvi Movers will scale up its fleet with ACE’s heavy cranes, boosting the use of indigenous machinery in the ever-growing construction industry in India. ACE currently holds a 63% market share in mobile (pick and carry) cranes and another 60-65% market share in tower cranes in India.
The company is facing increasing competition from low-cost Chinese competitors in crawler cranes and truck cranes, besides technologically advanced versions from global OEMs like Volvo and Caterpillar.
Through the partnership, Sanghvi Movers aims to bolster its position as India’s leading crane rental company along with assured technical support from ACE.
“India’s heavy slew cranes market has historically relied on imports. Through this partnership, we are deepening the Make in India initiative by offering world-class indigenous alternatives that deliver performance, safety, and lifecycle value. This MOU reflects our commitment to building national capability and contributing to true industrial self-reliance.” Mr Sorab Agarwal, Executive Director, ACE, said in a press release to the bourses.
“Our collaboration with ACE is a strategic enabler for sustainable growth. By expanding our fleet with domestically manufactured cranes, we not only reduce import dependency but also ensure superior serviceability, quicker turnaround time, and greater value creation within India’s economy.” Mr Rishi C. Sanghvi, Managing Director, Sanghvi Movers, added.
