According to customs data, in April 2024, China's import and export trade volume of construction machinery was 4.803 billion US dollars, an increase of 0.46%. Among them: the import value of 231 million US dollars, an increase of 7.82%; Exports reached 4.572 billion US dollars, up 0.12% year on year.
From January to April 2024, the import and export volume of China's construction machinery was 17.462 billion US dollars, an increase of 2.05%. Among them: the import value was 884 million US dollars, an increase of 4.83%; Exports reached 16.577 billion US dollars, up 1.9% year-on-year.
In terms of exports denominated in RMB, exports in April were 32.464 billion yuan, up 4.98% year on year. From January to April, the cumulative export volume was 117.746 billion yuan, up by 6.8% year-on-year.
According to the statistics of the China Construction Machinery Industry Association on the main manufacturers of excavators, 18,822 excavators of all kinds were sold in April 2024, an increase of 0.27%, of which 10,782 were domestic, an increase of 13.3%; Exports were 8,040 units, down 13.2% year-on-year.
From January to April 2024, a total of 68,786 excavators were sold, down 9.78% year-on-year; Among them, 37,228 were domestic, down 2.9% year-on-year; Exports were 31,558 units, down 16.7 percent year on year.
In April 2024, 5 electric excavators (1 from 10 to 18.5 tons and 4 from 18.5 to 28.5 tons) were sold.
According to the statistics of the China Construction Machinery Industry Association on the major manufacturers of loaders, 9,779 units of various types of loaders were sold in April 2024, an increase of 0.89%. Among them, 5,309 units were sold in the domestic market, an increase of 0.91%; Export sales of 4,470 units, an increase of 0.86%.
From January to April 2024, a total of 36,400 types of loaders were sold, down 6.61% year-on-year. Among them, 18,445 units were sold in the domestic market, down 12.5% year-on-year; Export sales of 17,955 units, an increase of 0.27%.
In April 2024, 940 electric loaders were sold (7 for 3 tons, 754 for 5 tons, 153 for 6 tons, and 26 for 7 tons).
In April, the excavator market ushered in a small peak, with the gradual implementation of investment projects across the country, coupled with the full resumption of work and temperature warming and other factors, excavator domestic sales increased by 13% to 10,780 units, exceeding market expectations. At the same time, the decline in exports narrowed, falling 13 per cent year-on-year to 8,040 units. Construction machinery industry head enterprises with global layout to seize the opportunity, order increment is higher than the industry average.
Since the beginning of this year, with the introduction of a series of national economic stability policies, investment in infrastructure construction has increased, and new projects have increased, bringing good news to the construction machinery industry. CCTV financial excavator index shows that the mining equipment operating rate continued to rise in the first quarter. Industry insiders generally believe that, driven by factors such as policy dividends and large-scale equipment updates, the construction machinery market is expected to accelerate recovery.
Wang Zhizhong, chairman of Lingong Group, pointed out that at present, the proportion of small and large excavators in the market has increased, which has contributed significantly to the demand of China's infrastructure sector. Although the domestic real estate market is still adjusting, with the macroeconomic stabilization and recovery, the construction machinery industry is expected to take the lead in bottoming out. The person in charge of a number of head manufacturers said that the domestic sales data in April strengthened market expectations, but considering the low base of the same period last year, the industry trend for the whole year is still cautiously optimistic.
In the face of fluctuations in the domestic market cycle, construction machinery giants have distributed globally and diversified their risks through diversified business strategies. Zoomlion relevant people said that the company's concrete and construction lifting machinery sector in the first quarter of domestic revenue declined, and the real estate related degree decreased, the impact of cyclical adverse factors is limited. CAI Shenglin, director secretary of Sany Heavy Industry, also stressed at the performance meeting that the global market for construction machinery in 2024 will be broad, and the transformation trend of high-end, intelligent and green will bring new growth momentum to leading enterprises.
With the development strategy of diversification and globalization, Sany Heavy Industry, Xugong Machinery, Liugong and other leading enterprises have recently ranked among the forefront of new holdings of the social security fund. Industry insiders pointed out that with the in-depth promotion of the "Belt and Road" construction, overseas markets will become the new growth pole of China's construction machinery enterprises. Liugong expects that in 2024 or the key period of the industry bottoming out, 2025 is expected to usher in a new round of upward cycle.
Although the current construction machinery industry is still facing uncertain factors such as slow demand recovery and raw material price increases, the industry is gradually recovering under the double benefit of counter-cyclical adjustment policies and equipment renewal demand. Looking forward to the future, the head construction machinery enterprises will be based on the domestic, look at the world, with differentiated, high-end products and services to seize the market opportunities, and promote the high-quality development of the industry.
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