Global construction machinery market expands while Chinese construction machinery companies improve their international ranking

The global construction machinery market is huge, and according to the Statista database, the global construction machinery market size was about US$136.3 billion in 2020. The market size is expected to reach US$234.6 billion in 2030. The Chinese market is also growing rapidly and has become the world’s largest market for construction machinery.

After a long development period, the global construction machinery market has entered a relatively stable and mature stage, and Chinese construction machinery enterprises have been increasing their global competitiveness after years of exploration and efforts. In the past five years, the international ranking of Chinese construction machinery enterprises has steadily improved.

3 Nov 2022 reported by Machinery News