China construction machinery market will have rapid growth

In the past two years, China's construction machinery market has experienced rapid growth. It is expected to increase by about 10 percentage points in 2019 based on 2018.

In 2018, the sales of major construction machinery products in China increased by 25.5%. In the first quarter of 2019, sales of construction machinery still performed well, with total product sales increasing by 15.2%. According to statistics, 25 excavator manufacturers that were included in the statistics in April 2019 sold a total of 7% of all types of excavators; the 22 loader manufacturers that included statistics sold a total of 6.26% of all types of loaders. It is estimated that the total sales of construction machinery's main products in 2019 will increase by about 10 percentage points on the basis of 2018.

The achievements of China's construction machinery industry are inseparable from the good overall environment of the Chinese economy. The Chinese government will reduce the VAT rate of the manufacturing, construction, transportation and other industries, and the policy dividends and radiation impacts brought to the manufacturing, construction and related industries will provide a stable development of the construction machinery industry in 2019 and up to the next few years.

As the vane of China's construction machinery industry market development, the 15th BICES (International Construction Machinery, Building Materials Machinery and Mining Machinery Exhibition and Technology Exchange Conference) will be held in Beijing from September 4th to 7th. The exhibition included “The 2nd China-Africa Construction Machinery Development Forum”, “The 2nd ‘One Belt and One Road Construction Machinery Development Forum” and “The First China-ASEAN Construction Machinery Development Forum” and many other activities.