Company Strategy - Palfinger AG is focusing on building scale through partnerships to expand its market reach and improve service responsiveness [1][7] - The company has entered into a comprehensive agreement with TVS Mobility Group to enhance supply chain, dealership, and aftermarket support in India [6][7] Investment and Manufacturing - Palfinger is investing ₹350 crore to establish a manufacturing facility in Pune, with production expected to start by 2027 [3][6] - The initial capacity of the Pune plant will exceed 1,000 cranes annually, along with steel components for export [3][6] Market Context - India's construction equipment market is valued at approximately $6 billion and is experiencing rapid growth due to public investment in infrastructure [3][6] - Palfinger has achieved a 17% CAGR over the past decade solely through imports, and localization is seen as a key driver for future volume growth [6][7]
Palfinger partners with TVS Mobility as co bets on local production to boost India growth, cut costs
The Economic Times·2026-02-22 19:28