CHINA CONSTRUCTION EQUIPMENT MARKET SIZE WAS VALUED AT USD 57.66 BILLION IN 2021 AND IS EXPECTED TO REACH USD 78.70 BILLION BY 2028, REPRESENTING AT A CAGR OF 4.70%

China Construction Equipment Market Research Report includes segments by

  • Earth Moving Equipment: Excavator, Backhoe Loader, Motor Grader, and Other Earth Moving Equipment
  • Material Handling Equipment: Crane, Forklift & Telescopic Handler, Arial Platforms (Articulated Boom Lifts, Telescopic Boom Lifts, Scissor Lifts, etc.)
  • Road Construction Equipment: Road Roller and Asphalt Paver
  • End-users: Construction, Manufacturing, Mining, and Others

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Most Exhaustive Report

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111 Pages

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16 Tables

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64 Charts

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1 Regions

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1 Countries

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18 Companies

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2 Market Segment

CHINA CONSTRUCTION EQUIPMENT MARKET REPORT SCOPE

Report Attribute Details
MARKET SIZE (2028) USD 78.7 Billion
MARKET SIZE (2021) USD 57.66 Billion
CAGR 4.70%
MARKET SIZE (2028) 1.8 Million Unit
HISTORIC YEAR 2019-2020
BASE YEAR 2021
FORECAST YEAR 2022-2028
TYPE Earth Moving Equipment (Excavator, Backhoe Loader, Motor Grader, and Other Earth Moving Equipment), Material Handling Equipment (Crane, Forklift & Telescopic Handler, Arial Platforms (Articulated Boom Lifts, Telescopic Boom Lifts, Scissor Lifts, etc.) and Road Construction Equipment (Asphalt Paver and Road Roller)
END-USERS Construction, Manufacturing, Mining, and Others
KEY VENDORS XCMG, Sany, Zoomlion, Caterpillar, Komatsu, Volvo

MARKET INSIGHTS

The China Construction Equipment market was valued at USD 57.66 billion in 2021 and is forecasted to reach USD 78.70 billion by 2028, growing at a CAGR of 4.70%.
In 2021, the material handling segment had the largest share due to the shift towards prefabricated construction and port development projects.

Increasing Focus on Infrastructure to Drive China Construction Market Growth

The construction industry in China is expected to generate high demand primarily due to the “build, reconstruct, renovate, and revitalize” program, which is anticipated to further dominate the construction equipment market over the forecast period. Projects such as Liuzhou-Wuzhou Railway Line (USD 4,793 million), Zengcheng-Foshan Expressway (USD 2,376 million), etc., are expected to surge the demand for all types of construction machinery (earthmoving, material handling, and road construction) in China. China's government focus on improving infrastructure by investing USD 573 billion and approving various projects to drive the China construction equipment market growth.

Affordable government home schemes are expected to spur demand for construction equipment. Government plans to build 300,000 affordable rental homes by 2025, with around 60,000 completed by the end of 2022. The government allocated USD 23.6 billion for housing development in the 2021 budget plan.

The shift to prefabricated construction is driving demand for cranes. It is estimated that 30% of newly constructed buildings in China will be prefabricated by 2030 as Chinese infrastructure developers adopt prefab construction techniques.

Robust Business Ecosystem in China to Attract Investments

China has an incredibly experienced and trained workforce in almost all sectors (Literacy rate: 96.8%). This skilled employee base has helped China open to foreign investments.

China is still relatively more economical than most developed countries, specifically in the manufacturing sector. China’s robust business ecosystem, competitive currency practices, and low taxes are a few of the reasons considered an advantage of doing business, which will drive the China construction equipment market growth.

Projects & Investments:

  • China's government allocated USD 573 billion in 2021 for improving infrastructure in the nation’s 14th Five-Year Plan, which covers economic and social development from 2021 to 2025. The infrastructure plan focused on developing roadways, highways, and airports across the country.
  • In December 2021, the government issued 97% of the amount (~USD 555.81 billion). It announced various projects, including the expansion of the railway by 19,000 kilometers, of which 12,000 kilometers will be high-speed rail, the development of public roads by 302,000 kilometers, of which 29,000 kilometers will be expressways, building at least 29 new passenger airports, and expansion of urban transit rail operating mileage by 3,400 kilometers.

VENDOR LANDSCAPE

  • The key players in the China construction machinery market are XCMG Group, SANY Group, Zoomlion Heavy Industry Science & Technology Co. Ltd., Caterpillar, Komatsu Group, Volvo Construction Equipment, Hitachi, Ltd., Liebherr Group, KUBOTA Corporation, JCB, Lingong Group Jinan Heavy Machinery Co., Ltd. (LGMG), Hyundai Doosan Infracore, Kobelco Construction Machinery, Sumitomo Heavy Industries Ltd., and Fayat Group.
  • XCMG Group, Caterpillar, Volvo, Komatsu Group, SANY Group, and Zoomlion Heavy Industry Science & Technology Co. Ltd. are market leaders that accounted for nearly ~85% of the overall construction equipment market share in 2021.
  • XCMG Group, Caterpillar, Volvo, Komatsu Group, SANY Group, and Zoomlion Heavy Industry Science & Technology Co. Ltd. have a significant share in China's construction machinery market. The companies have a strong distribution network and high experience in China.
  • LGMG has served the customers of the China region from the past more than 50 years. However, it lags behind SANY Group in innovations though SANY has less than 35 years of experience in the region. In early 2022, SANY introduced its first 300-ton electric-drive front shovel.
  • In 2022, Kobelco Construction Machinery launched two new next-generation construction equipment.

REPORT COVERAGE:

Earthmoving Equipment:

  • Excavator
  • Backhoe Loaders
  • Motor Graders
  • Other Earthmoving Equipment (Other loaders, Bulldozers, Trenchers)

Road Construction Equipment

  • Road Rollers
  • Asphalt Pavers

Material Handling Equipment

  • Crane
  • Forklift & Telescopic Handlers
  • Aerial Platforms (Articulated Boom Lifts, Telescopic Boom lifts, Scissor lifts)

End Users

  • Construction
  • Manufacturing
  • Mining
  • Others

TARGET AUDIENCE

  • Top-level management personnel of existing operators/vendors
  • Potential new entrants to the market
  • Consultants/consultancies/advisory firms
  • Professional landscaping service providers/contractors
  • Corporate and governments bodies

WHY SHOULD YOU BUY THIS REPORT?

This report is among the few in the market that offers an outlook and opportunity analysis forecast in terms of:

  • Market Size & Forecast Volume (Unit sales) 2019-2028
    • Earthmoving, Material Handling, and Road Construction
    • Excavators, Backhoe Loaders, Cranes, Forklifts
    • End Users (construction, mining, manufacturing, and other industries)
  • Market Size & Forecast Value (USD) 2019-2028
    • Earthmoving, Material Handling, and Road Construction
    • Excavators, Backhoe Loaders, Cranes, Forklifts
    • End Users (construction, mining, manufacturing, and other industries)
  • Major current & upcoming projects & investments
  • Gain competitive intelligence about the economic scenario, advantages in China's major projects and investments, dynamics, and market share.
  • Examples of the latest technologies.
  • Get presentation-ready format and easy-to-interpret data.
  • Enable decision-makers to make informed and profitable choices
  • Gain expert quantitative and qualitative analysis on value/volume incremental growth projections
  • Complete supply chain analysis
  • Get COVID-19 impact analysis of the market
  • Vendor capability matrix
  • Company Profile of vendors and distributors

Frequently Asked Questions

WHAT IS THE GROWTH RATE OF CHINA CONSTRUCTION EQUIPMENT MARKET?

The growth rate of the China Construction Equipment Market is 4.17% in the forecast period.

WHO ARE THE KEY PLAYERS IN CHINA CONSTRUCTION EQUIPMENT MARKET?

XCMG Group, SANY Group, Zoomlion Heavy Industry Science & Technology Co. Ltd., Caterpillar, Komatsu Group, Volvo, Hitachi, Ltd., Liebherr Group, KUBOTA Corporation, JCB, Lingong Group Jinan Heavy Machinery Co., Ltd. (LGMG), Hyundai Doosan Infracore, Kobelco Construction Machinery, Sumitomo Heavy Industries Ltd., and Fayat Group

WHAT ARE THE MARKET OPPORTUNITIES FOR NEW ENTRANTS IN CHINA CONSTRUCTION EQUIPMENT INDUSTRY?

Growth in the construction, manufacturing, mining and renewable energy sector due to increasing government investment is expected to support the demand for construction equipment in China market.

WHAT ARE THE NEW INDUSTRY TRENDS IMPACTING THE GROWTH OF CHINA CONSTRUCTION EQUIPMENT MARKET?

Shift towards fuel-efficient construction equipment due to climate change triggers the demand for electric and green hydrogen fuel-based construction equipment in China. Major OEMs in the region such as Volvo have introduced I-Save intelligent fuel-saving system which has stronger power, lower fuel consumption, and can improve fuel efficiency by 3%. Volvo Construction Equipment also introduced China's first ECR25 electric mini crawler excavator.

HOW WILL MAJOR EQUIPMENT TYPES (MATERIAL HANDLING, EARTHMOVING, AND ROAD CONSTRUCTION) CONTRIBUTE TO THE GROWTH IN CHINA CONSTRUCTION EQUIPMENT INDUSTRY?

Major equipment types in Material Handling, Earthmoving & Road Construction were Forklifts & Telescopic Handlers (80.2%), Excavators (70.9%), and Road Rollers (86.3%) respectively in 2021. Material handling and earthmoving were having a higher share due to various government investments in infrastructure, manufacturing, mining, and renewable energy projects in 2021.

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China's government is focusing on improving infrastructure by investing USD 573 billion and approving various projects which will also support the increase in the sale of construction equipment. Material handling equipment is mainly used in construction, manufacturing, cargo handling, logistics, warehousing, and mining industries. In 2021, 102 major projects were announced in China's 2021-2025 development plan which will support the demand for material handling equipment across the country.

Base Year: 2021

Forecast Year: 2022-2027

Scope: The report considers the present scenario of the Columbia construction equipment market and market dynamics for the forecast period 2022−2028. It covers a detailed overview of several growth enablers, restraints, and trends in the market. The study includes the volume and value sales with a segment analysis of the UAE construction equipment market.

Key Vendors

  • XCMG
  • SANY
  • Zoomlion
  • Caterpillar
  • Volvo Construction Equipment
  • Komatsu
  • Hitachi
  • Kubota
  • Liebherr
  • JCB

Other Prominent Vendors

  • LGMG
  • Hyundai Doosan Infracore
  • Kobelco
  • Sumitomo
  • FAYAT

Distributor Profiles

  • CamaMach
  • LuoYang Silon Industrial Co., Ltd
  • Sino Machinery Imp & Exp Co., Ltd.

Market Segmentation by Type

  • Earthmoving Equipment
    • Excavator
    • Backhoe Loader
    • Motor Grader
    • Other earthmoving Equipment
  • Material Handling Equipment
    • Crane
    • Forklift and Telescopic Handler
    • Arial Platforms (articulated boom lifts, telescopic boom lifts, scissor lifts, etc)
  • Road Construction Equipment
    • Asphalt Paver
    • Road Roller

Market Segmentation by Application

  • Construction
  • Manufacturing
  • Mining
  • Others

Section 1 – Introduction

1.1 Market Snapshot

1.2 Executive Summary

Section 2 – Market Overview

  • Economic Scenario, Foreign Direct Investment

Section 3 – Market Landscape

3.1 China Construction Equipment Market by Type (Volume & Value)

3.1.1 Material Handling Equipment

3.1.1.1 Forklift and Telescopic Handler

3.1.1.2 Aerial Platform (Articulated Boom lifts, Telescopic Boom lifts, Scissor Lifts, etc)

3.1.1.3 Cranes

3.1.2 Earthmoving Equipment

3.1.2.1 Excavators

3.1.2.2 Motor Graders

3.1.2.3 Backhoe Loaders

3.1.2.4 Other Earthmoving Equipment (Other Loaders, Bulldozer, Trencher, etc.)

3.1.3 Road Construction Equipment

3.1.3.1 Road Roller

3.1.3.2 Asphalt Paver

3.2 China Construction Equipment Market by End User (Volume & Value)

3.2.1 Construction

3.2.2 Manufacturing

3.2.3 Mining

3.2.4 Others (Power Generation, Utilities Municipal Corporations, Oil & Gas, Cargo Handling, Power Generation Plants, Waste Management, etc.)

Section 4 – Market Dynamics

  • Market Drivers, Restraints, Trends, Advantage China, Key Economic Regions, Import/Export Trends, Supply Chain Analysis, COVID-19 Impact

Section 5 – Technological Development

  • Advent Of New Technology

Section 6 – Competitive Landscape

  • Competitive Landscape Overview
  • Major Vendors (XCMG Group | SANY Group | Zoomlion Heavy Industry Science & Technology Co. Ltd. | Caterpillar | Komatsu Group | Volvo Construction Equipment | Hitachi, Ltd. | Liebherr Group | KUBOTA Corporation | JCB)
  • Other Prominent Vendors
  • Distributor Profiles

Section 7 – Quantitative Summary

  • Quantitative Summary

Section 8 – Report Summary

  • Key Insights
  • Abbreviations
  • List of Graphs
  • List of Tables

Section 9 – Report Scope & Definition

  • Research Methodology
  • Research Objective
  • Market Definition, Inclusion & Exclusion

LIST OF EXHIBITS

Graph-1 China Construction Equipment Market by Volume 2019–2028 (Unit Sales)

Graph-2 Construction Equipment Market in China by Type 2021 (% Volume Share)

Graph-3 China Construction Equipment Market by Volume 2019–2028 (Unit Sales)

Graph-4 China Construction Equipment Market by Value 2019–2028 ($ MN)

Graph-5 China Construction Equipment Market by End-user, 2021 (%)

Graph-6 China Construction Equipment Market by Type 2019–2028 (Unit Sales)

Graph-7 China GDP 2015–2020 ($ TN)

Graph-8 Contribution of Manufacturing Sector to China’s GDP 2015–2020 (% share)

Graph-9 Decline in Sector-wise GDP due to COVID-19, Q1 2020 (% change)

Graph-10 Foreign Direct Investment, Net Inflow, 2016–2020 ($ TN)

Graph-11 China Construction Equipment Market by Type 2019–2028 (Unit Sales)

Graph-12 China Construction Equipment Market by Type 2021 (% Volume Share)

Graph-13 China Construction Equipment Market by End-user, 2019–2028 (Unit Sales)

Graph-14 China Material Handling Equipment Market 2019–2028 (Unit Sales)

Graph-15 China Material Handling Equipment Market 2019–2028 ($ MN)

Graph-16 China Forklift and Telescopic Handler Market 2019–2028 (Unit Sales)

Graph-17 China Forklifts and Telescopic Handlers Market 2019–2028 ($ MN)

Graph-18 China Aerial Platforms Market 2019–2028 (Unit Sales)

Graph-19 China Aerial Platforms Market 2019–2028 ($ MN)

Graph-20 China Cranes Market 2019–2028 (Unit Sales)

Graph-21 China Cranes Market 2019–2028 ($ MN)

Graph-22 China Earthmoving Equipment Market 2019–2028 (Unit Sales)

Graph-23 China Earthmoving Equipment Market 2019–2028 ($ MN)

Graph-24 China Excavators Market 2019–2028 (Unit Sales)

Graph-25 China Excavators Equipment Market 2019–2028 ($ MN)

Graph-26 China Motor Graders Market 2019–2028 (Unit Sales)

Graph-27 China Motor Graders Market 2019–2028 ($ MN)

Graph-28 China Backhoe Loaders Market 2019–2028 (Unit Sales)

Graph-29 China Backhoe Loaders Equipment Market 2019–2028 ($ MN)

Graph-30 China Other Earthmoving Equipment Market, 2019–2028 (Unit Sales)

Graph-31 China Other Earthmoving Equipment Market 2019–2028 ($ MN)

Graph-32 China Road Construction Equipment Market 2019–2028 (Unit Sales)

Graph-33 China Road Construction Equipment Market 2019–2028 ($ MN)

Graph-34 China Road Rollers Market 2019–2028 (Unit Sales)

Graph-35 China Road Rollers Market 2019–2028 ($ MN)

Graph-36 China Asphalt Pavers Market 2019–2028 (Unit Sales)

Graph-37 China Asphalt Pavers Market 2019–2028 ($ MN)

Graph-38 China Construction Equipment Market by Construction 2019–2028 (Unit Sales)

Graph-39 China Construction Equipment Market by Construction 2019–2028 ($ MN)

Graph-40 China Construction Equipment Market by Manufacturing 2019–2028 (Unit Sales)

Graph-41 China Construction Equipment Market by Manufacturing 2019–2028 ($ MN)

Graph-42 China Construction Equipment Market by Mining 2019–2028 (Unit Sales)

Graph-43 China Construction Equipment Market by Mining 2019–2028 ($ MN)

Graph-44 China Construction Equipment Market by Others 2019–2028 (Unit Sales)

Graph-45 China Construction Equipment Market by Others 2019–2028 ($ MN)

Graph-46 Import Value of Construction Equipment 2019 ($ MN)

Graph-47 Export Value of Construction Equipment 2019 ($ 000’s)

Graph-48 Zoomlion: Revenue, 2017–2020 ($ BN)

Graph-49 Caterpillar: Total Revenue 2018–2020 ($ BN)

Graph-50 Caterpillar: Sales by Region (% Share)

Graph-51 Caterpillar: Total Revenue by Segment 2020 (% Share)

Graph-52 Komatsu: Consolidated Net Sales 2018–2020 ($ BN)

Graph-53 Komatsu: Construction, Mining and Utility Equipment Business Sales by Region 2020
(% Share)

Graph-54 Komatsu: Breakdown of Net Sales by Segment 2020 (% Share)

Graph-55 Volvo: Construction Equipment Net Sales 2016–2020 ($ BN)

Graph-56 Volvo: Share Of Net Sales by Market 2020 (% Share)

Graph-57 Volvo: Share of Net Sales by Segment 2020 (% Share)

Graph-58 Hitachi: Revenue 2020–2021 ($ BN)

Graph-59 Liebherr: Total Revenue 2018–2020 (% Share)

Graph-60 Liebherr: Revenue by Region (% Share)

Graph-61 Liebherr: Total Revenue by Product Segment 2020 (% Share)

Graph-62 Kubota: Revenue 2016–2020 ($ BN)

Graph-63 Kubota: Revenue by Segment 2020 (% Share)

Graph-64 Kubota: Revenue by Region 2020 (% Share)

LIST OF TABLES

Table-1 Greenfield Investment in China

Table-2 Investments by Sectors in China

Table-3 Investments by Countries in China

Table-4 Key Construction Projects Initiated in China

Table-5 China Construction Equipment Market by Volume 2019–2028

Table-6 China Construction Equipment by Type 2019–2018

Table-7 China Material Handling Equipment Market Size & Forecast by Type (Volume, Units)

Table-8 China Earthmoving Equipment Market Size & Forecast by Type (Volume, Units)

Table-9 China Road Construction Equipment Market Size & Forecast by Type (Volume, Units)

Table-10 China Construction Equipment Market Size & Forecast by End-user (Units)

Table-11 China Construction Equipment Market by Value 2019–2028

Table-12 China Construction Equipment by Type 2019–2018

Table-13 China Material Handling Equipment Market Size & Forecast by Type (Value, $ MN)

Table-14 China Earthmoving Equipment Market Size & Forecast by Type (Value, $ MN)

Table-15 China Road Construction Equipment Market Size & Forecast by Type (Value, $ MN)

Table-16 China Construction Equipment Market Size & Forecast by End-user

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