Construction Machinery Market in China to 2015
Construction Machinery in China to 2015
Demand for construction machinery in China is expected to rise 6.2 percent per year to 387 billion yuan in 2015, supported by continuing gains in construction spending, especially in infrastructure development. Growth in construction activity will be driven by continuing industrialization and increasing personal and business income levels. However, gains will decelerate from the torrid pace of the 2005-2010 period as a result of a moderating outlook for the economy in China as a whole. This will impact total construction expenditures, which are expected to grow at a slower pace through the forecast period, limiting stronger market gains for construction machinery. http://www.bharatbook.com/market-research-reports/construction-market-research-report/construction-machinery-in-china-to-2015.html
The Twelfth Five-Year Plan aims to encourage domestic producers to upgrade their products and improve innovation in product development so as to maintain sustainable growth. These technological improvements, coupled with pricing advantages due to relatively low production costs, will spur growth in shipments of all types of construction machinery by Chinese producers. As a result of such improvements, China will erase its trade deficit in construction machinery and become a net exporter.
Excavators/cranes to remain largest product segment
Excavators and cranes are the largest construction machinery product segment due to their widespread use in both building and nonbuilding construction. The better versatility and flexibility of excavators will also ensure their widespread use in all types of construction applications in China. Loaders, the second largest product type, will see healthy demand increases, benefiting from their functional versatility. Mixers and related equipment will be one of the fastest growing product segments, benefiting from greater use in numerous types of infrastructure projects that are intensive users of cement. Parts and attachments will see the most rapid growth due to favorable government policies under the Twelfth Five-Year Plan.
Northwest region to be fastest growing in China
The size, growth, and composition of construction machinery demand in the six regions of China vary considerably due to regional differences in economic, social, and cultural conditions. In all regions, gains will decelerate from 2000-2010 rates as a result of moderating growth in the Chinese economy. Due to its large share of the nation’s population and economic activity, the Central-East will remain the largest regional market for construction machinery with 42 percent of national demand in 2015. Although small, the Northwest is expected to be the fastest growing regional market, primarily benefiting from the central government’s Great Western Development program.
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