Review of Construction Machinery Industry Status in 2022

1、Policy to encourage the development of construction machinery industry

Construction machinery is an important part of the equipment industry, plays a very important role for our country economic construction. In order to promote economic development and promote the development of the construction machinery industry, a series of encouraging policies were introduced at the national level in 2022.

   Source: China Business Industry Research Institute

2、Construction machinery revenue declined

In 2021, the construction machinery industry achieved a revenue of 906.5 billion yuan, a year-on-year growth of 17%. In 2022, the domestic construction machinery industry is in a period of downward adjustment. Combined with the influence of factors such as slowing macroeconomic growth, repeated COVID-19 epidemic, and insufficient effective construction operation rate, the demand of the domestic construction machinery market has significantly decreased, and the operating revenue of construction machinery is expected to drop to 850 billion yuan in 2022.

Data source: China Business Industry Research Institute

3、Sales of key products are down

In 2022, the sales volume of major products in construction machinery industry decreased significantly compared with that in 2021. Among them, 261,000 excavators were sold, down 23.8 percent year on year. Loader sales were 123,400 units, down 12.2 percent year-on-year.

Data source: China Construction Machinery Industry Association,

China Business Industry Research Institute

4、Export scale set a new record

In 2022, the competitive advantage of construction machinery in the international market continues to improve, and the export volume increases substantially. Full-year exports set a new record of $44.302 billion, adding to the record of $34 billion in 2021.   The net increase in exports was US $10.28 billion on top of US $13 billion in the previous year,   bringing the two-year net increase to US $23.34 billion.

Data source: China Construction Machinery Industry Association,

China Business Industry Research Institute

5、The competitiveness of construction machinery enterprises has increased

The 2022 Global Top 50 construction machinery Manufacturers list showed that 12 Chinese manufacturers were included in the list, with a total sales volume of 57.881 billion US dollars, accounting for 26.15% of the total, remaining the world's first. There are three new companies on the list, including Doosan Bobcat, Juki and Sinbang Intelligence, the last two of which are Chinese companies.

Source: China Construction Machinery, Zhongshang Industrial Research Institute