The high-speed growth trend of mixing plants in the second half of 2024 has changed

Import and Export of Construction Machinery in China in 2024

1.Characteristics of Import and Export Trade

One is to maintain a low level of imports. Affected by the sluggish domestic market, the monthly import volume has shown a fluctuating downward trend. Among the main products, there has been a significant decrease in the import of tracked excavators and their components. The cumulative import of tracked excavators decreased by $1.46 billion year-on-year, a decrease of 48.88%; The import of components decreased by 1.571 billion US dollars year-on-year, a decrease of 41.21%. The total decrease of two types of products accounted for 89.14% of the year-on-year decrease in the total import value of construction machinery.

Secondly, the momentum of rapid export growth has changed, and the trend is not optimistic. After a continuous high-speed growth in exports in 2021, the export growth rate has significantly decreased since 2024, especially since the second half of the year, when the export value growth rate has significantly decreased. In the fourth quarter, there was a year-on-year decline in export value for each month. The cumulative export value for the whole year has decreased from a cumulative increase of 36.9% in the first half of the year to 14.5%. The sluggish demand in overseas markets is beginning to manifest in the construction machinery industry, casting a shadow over the future export of construction machinery products. Recently, Venezuela, Hong Kong, Germany, India, Argentina, Italy, Türkiye, the United Kingdom, Japan, Canada, South Korea, Iran, and Mexico have declined more.

Thirdly, due to the decline in imports, the total import and export trade volume has been hovering at the same level as the same period in 2021. Amidst the sustained sluggishness of the domestic market, there has been a significant decline in imports. Meanwhile, despite continuous high growth in exports in 2021, there will be a significant decline in 2024. The total import and export trade volume of construction machinery for the whole year was slightly lower than that of 2021.

Specific situation of import and export

2. Import situation

In 2024, China's imported construction machinery products amounted to 3.45 billion US dollars, a decrease of 34.65% from the previous year and accounting for 60.62% of the total import value; The import of components was 2.241 billion US dollars, a decrease of 41.21% from the previous year, accounting for 39.38% of the total import value. Among them, 13912 crawler excavators were imported, with an import value of 1.526 billion US dollars, a year-on-year decrease of 55.65% and 48.88% respectively, with a decline rate greater than that of the whole machine. The products with a significant decrease in imports include tire excavators, other bulldozers, rollers, pavers, large all terrain cranes, crawler cranes, container forklifts, and components. Products with significant import growth: commodity concrete cement mixer trucks, elevators and escalators, other excavators, loaders, tractors, on-board cranes, other cranes, road construction machines, and graders.