JCB share of the world construction equipment market now holds strong at 12%, up from 10.4 per cent in 2006, with India its single biggest market.

According to the recent financial results released, its turnover figure increased to £2.25 billion in 2007 to £1.75 billion the previous year, with profits rising 30%.

India was also revealed as the machinery giant’s single largest market, surpassing the UK. JCB sold more than 17,000 machines in India, up from 10,800 in 2006.

Markets in the east including Bulgaria, Romania, Poland, Russia as well as South America are also expanding rapidly and in total, 72,000 machines were sold worldwide.

The company said there were concerns that the sector will be affected by the credit crunch and the downturn in the US, which saw sales fall 13%.
It said: "European economies are expected to come under pressure as the combined impact of slowing exports to the US and tighter, higher cost credit takes effect."

But despite the nervousness around 2008, JCB group chief operating officer Matthew Taylor said the company would continue to invest in new products and facilities.

He said: "North America continues to be weak and we don't see any improvements this year, which will put pressure on European economies.
"But infrastructure developments seem to be strong in most markets and growth in emerging markets will continue.

"Overall, we hope to be able to grow the business in 2008 by investing in new products, new facilities and in the ongoing strengthening of the JCB network and team around the world."

JCB recently unveiled 21 new products, including tracked excavators, mini excavators, telescopic handlers and skid steer loaders, at the Conexpo construction equipment show in Las Vegas, USA, to bring its total machine line-up to 290.

The company is investing £30 million to double capacity at the backhoe loader production facility near Delhi and that is due to be completed later this year.

Source: Construction News