Construction Equipment Manufacturing in China - Market Research Report (2014-2029)
Beijing, China
Last Updated: May 2024
3613Revenue
$198.8bn
Past 5-Year Growth
Profit
$X.Xbn
Employees
359k
Businesses
982
Wages
$X.Xbn
Construction Equipment Manufacturing in China industry analysis
China is one of the largest manufacturing countries and consumers of building construction equipment in the world. Industry revenue is expected to rise at an annualized 19.4% over the five years through 2023, to reach $198.8 billion. This trend includes an anticipated revenue growth of 11.3% in the current year.Industry development has been volatile over the past ten years. Most operators in the industry have invested heavily in building new plants and in acquiring other firms over the period, to expand product categories and production capacity. In 2014 and 2015, demand from main downstream industries was weak and overall economic growth slowed down, leading to a decline in industry revenue. In 2017, demand for equipment updates was high as a result of stricter environmental protection requirements and increased construction investments. As a result of this demand, revenue for the Construction Equipment Manufacturing industry recovered gradually. In 2018, industry revenue increased by 12.9%. Industry revenue continued to increase in 2019, benefiting of technology improvement.Over the five years to 2028, industry revenue is forecasted to increase at an annualized 9.7%, to reach $315.3 billion. New infrastructure construction and other new growth opportunities will increase demand for industry products. However, overall revenue growth will be constrained by the country's slowing economic growth. Industry trends over the next five years will likely include greater merger activity, outsourcing of spare part manufacturing, equipment leasing growth and an increased foreign presence.
Trends and Insights
- The industry is currently experiencing changes to its planning, preparations and equipment management, due to gradual improvement in big meteorological data and geological location detection technologies.
- Excavators, particularly hydraulic excavators, are important in the downstream Building Construction industry because they are highly efficient and easy to operate.
- Industry activity is concentrated in Hunan, Shandong and Jiangsu in terms of industry revenue and employment. The three provinces are expected to account for 62.0% of industry revenue and 55.0% of industry employment in 2023.
- Access to highly skilled workforce. Firms that have a highly skilled and well-trained workforce are more likely to achieve success.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 19.4 % over the past five years, to reach an estimated $198.8bn in 2024.
Trends and Insights
International trade status of the industry
- Industry exports have increased by an annualized 7.1% over the past five years, from $9.5 billion in 2018 to an expected $13.3 billion in 2023.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Demand from infrastructure construction will continue increasing
- ACMR-IBISWorld projects that revenue for the Construction Equipment Manufacturing industry will increase at an annualized 10.7% over the five years to 2027, to $297.0 billion.
Biggest companies in the Construction Equipment Manufacturing in China
| Company | Market Share (%)
2023 | Revenue ($short_0)
2023 |
|---|
There are no companies that hold a large enough market share in the Construction Equipment Manufacturing in China industry for IBISWorld to include in this product.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Excavators, Wheel loaders and Road surface equipment. Excavators is the largest segment of the Construction Equipment Manufacturing in China.
Trends and Insights
Excavators are important in the downstream Building Construction industry
- The excavator segment is expected to account for 28.0% of industry revenue in 2023. Excavators, particularly hydraulic excavators, are important in the downstream Building Construction industry because they are highly efficient and easy to operate. Excavators can also carry out some functions of wheel loaders, which reduce the market share of wheel loaders.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- There are no industries to display.
Complementors
- Mining Equipment Manufacturing in China
- Building Construction in China
- Building Completion & Interior Design in China
- Real Estate Development and Management in China
- Road & Highway Construction in China
International industries
- Construction Machinery Manufacturing in the US
- Construction Machinery Manufacturing in Canada
- Mining and Construction Machinery Manufacturing in Australia
- Mining, Quarrying & Construction Machinery Manufacturing in the UK
- Mining, Quarrying & Construction Machinery Manufacturing in Ireland
Table of Contents
About this industry
Industry definition
The Construction Equipment Manufacturing industry manufactures the heavy equipment used on construction sites for buildings and municipal public engineering projects, such as roads, dams and drainage. Industry products include bulldozers, wheel loaders, hydraulic crawler excavators, vibratory rollers and spare parts for construction machinery.
What's included in this industry?
ExcavatorsWheel loadersRoad surface equipmentConcrete equipmentBulldozersSpare parts for construction equipmentCompanies
Purchase this report to view all major companies in this industry.
Related Terms
EXCAVATORSBULLDOZERSHYDRAULIC MACHINESPerformance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
The industry is currently experiencing changes to its planning, preparations and equipment management, due to gradual improvement in big meteorological data and geological loc...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Excavators, particularly hydraulic excavators, are important in the downstream Building Construction industry because they are highly efficient and easy to operate.
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2024
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Industry activity is concentrated in Hunan, Shandong and Jiangsu in terms of industry revenue and employment. The three provinces are expected to account for 62.0% of industr...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each region
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each region in 2024
- Number and share of revenue each region accounts for in 2024
- Number and share of wages each region accounts for in 2024
- Number and share of employees in each region in 2024
Detailed analysis
- Geographic spread of the industry across Asia Pacific, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Access to highly skilled workforce. Firms that have a highly skilled and well-trained workforce are more likely to achieve success.
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
The scale of construction in China is constantly increasing, new technology and new methods are constantly introduced into construction projects, and the number of large and m...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
Detailed analysis
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
There are few specific regulations that apply to the Construction Equipment Manufacturing industry in China. Firms are required to manufacture building equipment that meets n...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Low profit margins and high purchase costs typically characterize the Construction Equipment Manufacturing industry. The profit in 2023 is only 3.2%.
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in China include:
- National Bureau of Statistics China
- General Administration of Customs
- People’s Bank of China
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Construction Equipment Manufacturing industry in China in 2024?
The market size of the Construction Equipment Manufacturing industry in China is $198.8bn in 2024.
How many businesses are there in the Construction Equipment Manufacturing in China industry in 2024?
There are 982 businesses in the Construction Equipment Manufacturing industry in China, which has grown at a CAGR of 1.8 % between 2019 and 2024.
Has the Construction Equipment Manufacturing industry in China grown or declined over the past 5 years?
The market size of the Construction Equipment Manufacturing industry in China has been growing at a CAGR of 19.4 % between 2019 and 2024.
What is the forecast growth of the Construction Equipment Manufacturing industry in China over the next 5 years?
Over the next five years, the Construction Equipment Manufacturing industry in China is expected to grow.
What does the Construction Equipment Manufacturing in China include?
Excavators and Wheel loaders are part of the Construction Equipment Manufacturing industry.
How competitive is the Construction Equipment Manufacturing industry in China?
The level of competition is high and increasing in the Construction Equipment Manufacturing industry in China.
