In the first half of 2024, China's construction machinery industry maintained an overall stable development trend. According to data from the China Construction Machinery Industry Association, the cumulative sales of 12 major categories of products at home and abroad reached 968,900 units, a year-on-year increase of 4.58%. Among them, the domestic market sales totaled 597,100 units, a year-on-year increase of 0.31%; the exports totaled 371,700 units, a year-on-year increase of 12.3%. The import and export trade volume was US$27.134 billion, a year-on-year increase of 3.13%. The industry's transformation to high-end, intelligent and green continues to accelerate, and electric construction machinery such as electric loaders and lifting work platforms has grown significantly. Large-scale and intelligent construction machinery products are constantly being put on the market, playing an important role in major engineering projects and infrastructure construction. It is expected that the overall economic operation of the construction machinery industry in the second half of the year will continue to maintain a stable recovery and steady progress. In addition, Su Zimeng, President of the China Construction Machinery Industry Association, said at a press conference that the construction machinery industry has actively responded to the influence of many factors and changes in the international market environment, overcome difficulties, and worked hard. The industry is generally stable, high-quality development is steadily promoted, and high-end, intelligent and green development has achieved fruitful results. With the accelerated implementation of macro-control policies, excavators and loaders closely related to infrastructure construction have bottomed out and rebounded. Since May, the domestic market sales of excavators have achieved positive growth every month, and the bottoming trend is obvious. At the same time, the export volume of construction machinery continued to show steady growth on the basis of a high base, with a trade surplus of US$24.54 billion, an increase of US$867 million year-on-year. In terms of policy support, the Ministry of Industry and Information Technology and seven other departments jointly issued the "Work Plan for Stabilizing Growth in the Machinery Industry (2023-2024)", proposing to strive for an average growth rate of more than 3% in the machinery industry's operating income from 2023 to 2024, reaching 8.1 trillion yuan by 2024, and cultivating a number of competitive small and medium-sized enterprise characteristic clusters and about 100 billion-level internationally competitive industrial clusters. The plan focuses on stabilizing key sub-sectors, promoting stable growth in the machinery industry, and supporting industrial economic growth to achieve expected goals. These information show the positive development trend and policy support of China's construction machinery industry, indicating that the future development of the industry will pay more attention to high-end, intelligent and green development.
Development trend of China's construction machinery industry
2024 09/02