China’s construction machinery market sees slight growth in Jun

In May, China’s construction machinery import and export trade amounted to US$4.846 billion, a year-on-year increase of 2.45%. According to CME’s forecast, excavator sales in June 2024 will be about 16,000 units, showing a slight year-on-year increase. Domestic sales are estimated at 7,300 units, and exports at 8,700 units.

From a downstream demand perspective, from January to May, China’s infrastructure investment, excluding electricity, heat, gas, and water production and supply, completed fixed asset investment grew by 5.7% year on year; the area of new housing starts was 301 million square meters, with the cumulative year-on-year decline narrowing by 0.4% compared to the previous four months.

It is believed that the recent introduction of large-scale equipment renewal policies and local real estate optimization policies are expected to accelerate the start of a new cycle of construction machinery updates, and the demand for construction machinery in 2024 is expected to improve marginally.

27 Jun 2024 reported by Machinery News