China Construction Equipment Market Overview, 2029

China's dynamic economy places a premium on its construction equipment market, which is a strong and important industry that promotes infrastructure building and supports economic expansion. The Chinese construction sector is a prime example of scale, creativity, and ambition. China is known for its enormous construction projects, fast urbanisation, and technological prowess. The Chinese construction equipment industry, which is distinguished by its enormous size and complexity, serves a wide range of industries, including residential and commercial construction, transportation infrastructure, energy projects, and urban development. The Chinese construction industry meets the changing needs of a large population and the requirements of a quickly growing urban environment by developing expansive high-rise buildings, extensive road networks, cutting-edge train systems and cutting-edge energy infrastructure. In addition, the Chinese market for construction equipment operates within a legal framework that guarantees adherence to safety regulations and industry norms. Authorities like the National Development and Reform Commission (NDRC) and the China Construction Machinery Association (CCMA) play important roles in establishing industry laws, fostering technological developments, and encouraging industry cooperation. The safety, performance, and quality of the construction equipment on the Chinese market are all guaranteed by adherence to the State Administration of Work Safety's (SAWS) safety regulations and the China Compulsory Certification (CCC) requirements. According to the report, “China Construction Equipment Market Overview, 2029,” published by Bonafide Research, the market is anticipated to witness prominent market growth during the upcoming timeframe. The Chinese government's dedication to infrastructure development is one of the major forces behind the growth of the country's construction equipment market. Massive investments in energy, transportation, and urban infrastructure projects have been made nationwide as a result of China's ambitious ambitions, including the Belt and Road Initiative (BRI), the construction of the Xiong'an New Area, and the national urbanisation plan. These initiatives have increased demand for construction equipment, boosting the economy and advancing technology. The Chinese market for construction equipment is highly innovative and technologically advanced. Construction is being revolutionised by digitalization, automation, and smart approaches, with technologies like building information modelling (BIM), robotics, and drones being widely used to improve project efficiency, accuracy, and safety. In line with China's dedication to environmental sustainability, the sector has also seen a growing focus on green construction practises, including energy-efficient tools, sustainable materials, and eco-friendly construction techniques. The market for construction equipment in China benefits from a broad network of producers, distributors, and rental businesses. Leading domestic businesses with a wide selection of construction machinery, including excavators, loaders, cranes, and concrete equipment, such Sany Group, Zoomlion, and XCMG, have become global players. In order to take advantage of the expanding market potential, foreign equipment producers like Caterpillar, Komatsu, and Liebherr have also developed a significant presence in China.

According to the report, the market is segmented into three types of applications, including earth moving machinery, material handling machinery, and concrete and road construction machinery. Among these types, earth moving machinery is anticipated to acquire higher market growth during the forecast period. Excavators, loaders, dozers, and motor graders are considered part of the earth-moving machinery segment. Among them, excavators and loaders are leading the market in 2023. Further, dumpers, cranes, telescopic handlers, and forklifts are considered part of material handling machinery. Among these types, dumpers and cranes are projected to dominate the overall market. On the other hand, cement/transit mixers, compactors & road rollers, and pavers/asphalt finishers are considered under the concrete & road construction machinery segment. Among them, cement/transit mixer is leading the market in 2023. COVID-19 Impacts: The China construction equipment market was hit hardest in the first three quarters of 2020 due to the significant spread of COVID-19. Governments across the country accepted strict safety measures, including lockdown, to contain the virus. This lockdown resulted in the temporary suspension of construction activities, the shutdown of construction equipment manufacturing facilities, and disturbances in imports and exports. However, changes in consumer preference and increasing industrialization across the country are anticipated to propel higher market growth during the forecast period.

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Manmayi Raval

Research Consultant

Considered In the Report • Geography: China • Base year: 2023 • Historical year: 2018 • Estimated year: 2024 • Forecasted year: 2029 Aspects Covered In the Report • Market Size by Value for the historic time period (2018-2023) • Market Size by Value for the forecast time period (2023-2029) • Market Share by Application (2018, 2023 & 2029F) • Market Share by Equipment (2018, 2023 & 2029F) Segments covered in the Report By Application • Earth Moving Machinery • Material Handling Machinery • Concrete and road construction Machinery • Other Machinery

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By Earth Moving Machinery • Excavators • Loaders • Dozers • Motor Graders By Material Handling Machinery • Dumper /Dump Truck/ Tippers • Cranes (Tower Crane, Mobile Crane) • Telescopic Handlers • Forklift By Concrete and Road Construction Machinery • Cement/Transit mixers • Compactors & Road Rollers • Pavers/Asphalt Finishers • Others The approach of the report: We keep an eye on evolving markets and try to evaluate the potential of the products and services. If we find the market interesting, we start working on it and create the desired table of content, considering all aspects of the business. We start by creating separate questionnaires for C-level executives, national/regional sales personnel, company owners, dealers, distributors, and end-users. Once the questionnaires have been finalized, we start collecting the primary data (mostly through phone calls) and try to understand the market dynamics regionally or tier-wise. This process gives us in-depth details of the market, including all present companies, the top-performing products with reasons why they dominate; we get the details of new players and their innovative approaches; market trends; dynamics; and all the small details of the market. After the collection of primary inputs, we then cross-check the same with secondary sources that include associations, trade journals, annual reports, paid databases, newspapers, magazines, press releases, government sources, etc. From this, we get a rough estimate of the market and start checking existing product price variants, trade, production, raw material scenarios, policies and regulatory landscape, etc. Then, to finalize the market, we start collecting financials of each player present in the market, including limited, private limited, and LLPs. Moreover, we perform cross-industry and cross-region analysis of the product, and based on collected primary inputs and using statistical modelling, we start forecasting the market. We follow our forecasting algorithm, which is unique for each product but gives more weight age to primary inputs. At the same time, the content team starts preparing company profiles, market dynamics, market trends, five forces, PEST analysis, etc. Once the data is verified by the data expert, the team (primary team, content team, and data team) together crosscheck the segmentations; validate the market, and then the designing team starts plotting the graphs. Once the file is ready, the content team completes the report and makes sure that all the discussed points have been covered and provides their valuable inputs in the form of strategic recommendations for new as well as existing players. The QC team then checks the overall report that includes spell check, data verification, and makes the same dispatch ready and error-free. Intended Audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the construction machinery and excavator industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.