Construction machinery is an important part of the equipment industry. According to data from the China Construction Machinery Association, 969,000 units of the 12 major categories of products included in the association's statistics were sold at home and abroad in the first half of the year, up 4.58 percent year-on-year; Among them, domestic cumulative sales reached 597,000 units, up 0.31 percent year-on-year; Cumulative export sales reached 372,000 units, up 12.3% year-on-year.
Analysis of the construction machinery market
1. China's import and export trade volume of construction machinery reached 31.746 billion U.S. dollars in the first seven months
Since 2020, China's annual exports of construction machinery have maintained a significant increase. China's imports and exports of construction machinery reached 31.746 billion U.S. dollars from January to July this year, up 3.63 percent year-on-year, according to customs data. Among them, the import value was 1.527 billion U.S. dollars, down 1.39 percent year-on-year; Exports amounted to 30.219 billion U.S. dollars, up 3.89% year-on-year.
At present, overall demand in overseas markets is slowing, but there is still strong demand in the segmented markets.
According to the China Construction Machinery Association, a total of 5,114 electric loaders were sold in the first half of this year, up 361% year-on-year; Electric forklifts sold 469,000 units, up 24.2% from the same period last year, accounting for 70.8% of total forklift sales; The electrification rate of lift work platforms exceeded 90%.
2. Transition to high-end intelligence
Since the beginning of this year, the construction machinery industry has actively responded to changes in the domestic and international market environment. The industry has generally operated smoothly, especially with abundant achievements in high-quality development towards high-end, intelligent and green.
Su Zimeng, president of the China Construction Machinery Association, said in Beijing recently that although the demand in some sub-sectors of the construction machinery industry is under pressure at present, enterprises in the industry have overcome multiple adverse effects and continuously accelerated digital transformation and intelligent upgrading in response to the high-end, diversified and personalized demands presented by the market. Green manufacturing, green products and green construction have been advanced in an orderly manner. Electric construction machinery, represented by electric loaders, electric forklifts and lift work platforms, has seen significant growth, further enhancing the core competitiveness of the industry.
According to the "2024-2029 Edition of Construction Machinery Market Analysis and Related Technology In-depth Research Report" by China Research Industry Research Institute:
On April 9, seven departments including the Ministry of Industry and Information Technology jointly issued the "Implementation Plan for Promoting Equipment Renewal in the Industrial Sector", proposing that by 2027, the scale of equipment investment in the industrial sector will increase by more than 25% compared with 2023. The Ministry of Housing and Urban-Rural Development recently issued the "Notice on the Implementation Plan for Promoting Equipment Renewal in Construction and Municipal Infrastructure", which explicitly requires the renewal and elimination of excavators, cranes, loaders, concrete mixers, lifts, bulldozers and other equipment (vehicles) that have been in use for more than 10 years, are highly polluting, energy-consuming, severely aged and worn, and technologically backward.
3. Opportunities outweigh challenges in the construction machinery industry
Su Zimeng, president of the China Construction Machinery Association, pointed out that the economic operation of the construction machinery industry is expected to continue to maintain a stable recovery and steady progress in the second half of this year. In the long term, confidence and determination coexist in the development of the industry, but opportunities outweigh challenges and favorable conditions outweigh adverse effects. Overall, the construction machinery industry will show a stable and positive trend.
