As the implementation of policies such as the “Belt and Road” economic strategy, the national new urbanization plan, the railway and urban rail transit plan, and the construction of social security housing, the construction machinery industry is entering a golden period of growth.
According to the “2022-2027 China Construction Machinery Market Demand Forecast and Development Trend Outlook Report” released by the China Industry Research Institute, the domestic construction machinery industry was in a downward adjustment period in 2022. Coupled with the impact of factors such as the slowdown in the overall economic growth rate and the insufficient effective start-up rate of engineering projects, the domestic construction machinery market demand has been significantly reduced. In 2022, the operating income of construction machinery fell to 850 billion yuan.
Analysts at the China Industry Research Institute predict that the construction machinery market will gradually recover in 2023, with operating income reaching 917 billion yuan, and further increase to 9455 billion yuan in 2024.
