The China Construction Equipment Market to Hit $79 Billion by 2028. Shanghai to Launch 48 New Infrastructure Projects

Over $1.8 Million Units of Construction Equipment to be Sold in China during 2022-2028. The Market is Expected to Grow at a CAGR of 4.17%.

Chicago, March 30, 2022 (GLOBE NEWSWIRE) — According to Arizton’s latest research report, the China construction equipment market, is projected to reach $79 billion by 2028. The demand for construction equipment boosts due to the rise in transport infrastructure projects and affordable government home schemes.

The material handling equipment market in China is estimated to grow at a CAGR of 3.15%. Therefore, it is estimated that 30% of newly constructed buildings in China will be prefabricated by 2030 as Chinese infrastructure developers are adopting the prefabricated construction techniques.

Material handling equipment is mainly used in construction, manufacturing, cargo handling, logistics, warehousing, and mining industries. In 2021, 102 major projects were announced in the China 2021–2025 development plan, which supports the demand for material handling equipment.

China Construction Equipment Market Report Scope

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Shift to Prefabricated Construction Driving Crane Demand

• 15% of the new structure are prefabricated buildings, and the Chinese government is strongly promoting prefabricated buildings. Infrastructure developments, such as transportation, logistics and telecommunications, are expected to boost demand for cranes in China.

• There is a need to promote prefabrication as part of the construction industrialization and green building action plan stated in the country’s 14th Five-Year Plan, which covers economic and social development from 2021 to 2025.

• The CCMIA stated that in 2020, over 300 Chinese prefabricated-component manufacturers served its construction sector with prefabricated buildings and steel structure markets, valued at $300 billion and $50 billion, respectively.

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Surge in the Adoption of Green Hydrogen Fuel

Climate change is a significant concern for all countries worldwide, and therefore, many construction equipment manufacturers have incorporated new technologies in their products to reduce carbon emissions. For instance, in China, Volvo’s advanced I-Save intelligent fuel-saving system has stronger power, lower fuel consumption, and improve fuel efficiency by 3%.

Construction equipment powered by green hydrogen fuel and electric construction equipment will likely replace fossil fuel-based construction equipment. In 2021, the China government approved the renewable mega-project for green hydrogen and accelerated the electrification of construction machinery in the same year.

Recent Development Projects

The government’s intention to invest $573 billion in infrastructure projects will fuel the growth of long-term industrial development. In December 2021, the government issued ~$556 billion. It announced various projects, including the expansion of the railway by 19 thousand kilometres, high-speed rail by 12 thousand kilometres, the expansion of public roads by 0.3 million kilometres, with 29 thousand kilometres expressways, the building 29 new passenger airports, and the expansion of urban transit rail operating mileage by 3,400 kilometres.

Additionally, China’s government plans to build 0.3 million affordable rental homes by 2025, with around 60 thousand to be completed by 2022. The government allocated approx. $24 billion for housing development in the 2021 budget plan. The new housing development projects will provide new opportunities for construction equipment.

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China Construction Equipment Market Segmentation Analysis

Market Segmentation by Type

Market Segmentation by Application

• Construction

• Manufacturing

• Mining

• Others

Why Should You Buy This Research Report?

This report is among the few in the market that offers outlook and opportunity analysis forecast in terms of:

• Market Size & Forecast Volume (Unit sales) 2019-2028

  • Earthmoving, Material Handling, and Road Construction

  • Excavators, Backhoe Loaders, Cranes, Forklifts

  • End Users (construction, mining, manufacturing, and other industries)

• Market Size & Forecast Value ($) 2019-2028

  • Earthmoving, Material Handling, and Road Construction

  • Excavators, Backhoe Loaders, Cranes, Forklifts

  • End Users (construction, mining, manufacturing, and other industries)

• Major current & upcoming projects & investments

• Gain competitive intelligence about the economic scenario, advantages in China’s major projects and investments, dynamics, and market share.

• Examples of the latest technologies.

• Get presentation-ready format and easy-to-interpret data.

• Enable decision-makers to make informed and profitable choices

• Gain expert quantitative and qualitative analysis on value/volume incremental growth projections

• Complete supply chain analysis

• Get COVID-19 impact analysis of the market

• Vendor capability matrix

• Company Profile of vendors and distributors

Target Audience

• Top-level management personnel of existing operators/vendors

• Potential new entrants to the market

• Consultants/consultancies/advisory firms

• Professional landscaping service providers/contractors

• Corporate and governments bodies

Vendors Analysis

Key Vendors

Other Prominent Vendors

• LGMG

• Hyundai Doosan Infracore

• Kobelco

• Sumitomo

• FAYAT

Distributor Profiles

• CamaMach

• LuoYang Silon Industrial Co., Ltd

• Sino Machinery Imp & Exp Co., Ltd.

Explore our industrial machinery profile to know more about the industry.

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