China Becomes the World's Largest Market for Construction Machinery Industry

China Becomes the World's Largest Market for Construction Machinery Industry

According to industry survey data, in 2012, China's construction machinery industry achieved an industrial output value of 606.834 billion yuan, an increase of 0.59% year-on-year; completed sales value of 591.157 billion yuan, an increase of 1.85% year-on-year; production and marketing rate of 98.29%.

After a long period of development, China’s construction machinery industry has reached a considerable scale and technological level, can produce products that are close to and have reached internationally advanced levels, and has emerged as a brand that enjoys a certain reputation in the world, and the industry has basically formed a complete The system, in addition to special large-scale construction machinery, can produce the domestic engineering construction needs of the twenty major categories of products, more than 280 series, more than 1,700 varieties, more than 4,000 specifications.

In 2013, the construction machinery exports sang all the way, which greatly boosted the confidence of the industry. The internationalization process of the leading company XCMG has been on the rise. The export value has reached 4.22 billion U.S. dollars over the past five years. The export scale has remained the first in the domestic industry and has become China's benchmark for “going global”.

In 2014, the cumulative output of the construction machinery industry increased year-on-year, except that the output growth of compacted machinery products still maintained a double-digit growth rate of 13.92%, while the output of other products was negative.

In the first half of 2015, the total import and export volume of China's construction machinery products was US$8.497 billion, a year-on-year decrease of 3.5%. Of which, the export value was 7.154 billion U.S. dollars, which was the same as the same period of last year. The import value was 1.343 billion U.S. dollars, down 18.5% year-on-year. The construction machinery trade surplus was 5.811 billion U.S. dollars.

At present, China has surpassed the United States, Japan, and Europe to become the world’s largest market for construction machinery. This means good investment opportunities for investors, large-scale infrastructure construction, and the development of national strategic emerging industries. Drive the construction machinery market to continue to develop.

During the “Thirteenth Five-Year Plan” period, a steady and progressive China economy will provide an important and continuous driving force for the development of the construction machinery industry. Benefiting from this, combined with the continuous improvement of the company’s innovation ability and comprehensive competitiveness, China’s construction machinery industry will continue to remain high. According to the “13th Five-Year Plan” of the China Construction Machinery Industry, by 2020, the industry’s sales volume is expected to reach 900 billion yuan.

China Becomes the World's Largest Market for Construction Machinery Industry