Construction machinery refers specifically to the mechanical equipment necessary for comprehensive mechanized construction works required by various construction projects such as earthwork construction works, pavement construction and maintenance, mobile crane loading and unloading operations. In the post-epidemic era, in order to stimulate domestic economic growth, major economies in the world have gradually increased their investment in infrastructure construction. As an important part of the equipment industry, the expansion of infrastructure scale has also stimulated the development momentum of the construction machinery market to a large extent.
Globally, with the continuous expansion of downstream application demand, the scale of construction machinery market has maintained an increasing trend year by year, reaching 142.3 billion US dollars by 2021, an increase of 4.4% over the previous year; And it is expected to maintain a compound annual growth rate of more than 5% between 2022-2030, and will exceed 235 billion US dollars by the end of 2030. From the perspective of regional development, North America represented by the United States, Europe represented by Germany, and Asian countries such as China and Japan are important construction machinery revenue markets in the world, accounting for more than 75% of the global total; In emerging markets such as Russia and India, infrastructure construction is still being promoted, and the demand for construction machinery applications has great growth potential.
At present, China has become the largest construction machinery manufacturer in the world, with the market sales reaching 415000 units in 2020, accounting for more than 38% of the global share. As the main import market of construction machinery in the world, Russia has a large import scale of construction machinery made in China. In the post-epidemic era, in order to stimulate domestic economic growth, Russia has gradually increased its investment in infrastructure construction. As an important part of the equipment industry, the expansion of infrastructure scale has also greatly stimulated the development momentum of the construction machinery market in the country. The high dependence of the Russian construction machinery market on Chinese products has also created good conditions for the layout of excellent Chinese enterprises such as Shanju in Russia.
Post time: Feb-27-2023
