Under the influence of factors such as the continuous slowdown of global economic growth, severe regional differentiation and the accumulation of risks in the real estate market, the development of the construction machinery industry is under considerable pressure. In 2023, the total sales volume of construction machinery products in China was 601,151 units and the total export volume was 258,617 units.
In terms of product sales structure, the total sales volume of construction machinery in China in 2023 was 601,151 units, mainly consisting of lifting work platforms, excavators and loaders. The sales volume proportions of the three major categories in 2023 were 34%, 33% and 17% respectively, and combined accounted for 84%. Among them, the sales of excavators accounted for about one-third, in line with the global overall situation. According to statistics, the total sales of the top 50 global construction machinery manufacturers in 2023 were $223.806 billion. Among the top 20 companies in the excavator business, the total sales of the excavator segment were $65.047 billion, accounting for 29.06% of the total sales of the top 50 global construction machinery manufacturers, close to one-third.
By product, only truck-mounted cranes, aerial work platforms and lift work platforms saw positive sales growth in 2023 among the 11 construction machinery categories included in the statistics, according to data from the China Construction Machinery Association. The sales of the remaining eight categories declined to varying degrees in 2023. Among them, excavators, pavers, loaders and tower cranes declined significantly by 25.4%, 18%, 15.8% and 13.1% respectively.
In terms of overall exports, due to the sluggishness of the domestic construction machinery industry, sales of construction machinery products generally declined in 2023. Some construction machinery manufacturers have intensified their efforts to expand overseas markets. In 2023, nearly half of China's construction machinery products were exported, and the total export volume of construction machinery accounted for 43% of the total sales. In 2023, exports of excavators, rollers, motor graders and crawler cranes exceeded domestic sales, with exports accounting for 53.86%, 54.59%, 85.73% and 55.95% of the total sales of these products respectively. International sales offset some of the impact of the decline in domestic sales on the industry. Excavator sales exceeded domestic sales for the first time in 2023. Both domestic and international sales showed a trend of high in the first half and low in the second half. The decline in domestic sales narrowed, and exports turned from growth to decline, with insufficient momentum for export growth.
In terms of the product structure of exports, China's total export volume of construction machinery products in 2023 was 258,617 units, mainly consisting of excavators, lifting platforms and loaders. The export volume shares of the three major categories in 2023 were 41%, 30% and 18% respectively, and combined accounted for 88.56%.
By product, according to data from the China Construction Machinery Association, among the 11 types of construction machinery included in the statistics in 2023, only excavators and floor machines saw a decline in exports, dropping by 4.04% and 6.2% respectively to 105,038 and 5,663 units. The remaining nine categories all saw positive year-on-year growth. Among them, tower cranes, aerial work platforms, truck-mounted cranes and pavers saw significant increases, with exports of 1,905 units, 71 units, 4,772 units and 209 units respectively in 2023, increasing by 130.3%, 65.1%, 62.4% and 56% respectively year-on-year, with growth rates of more than 50%.
