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Construction Equipment Manufacturing in China - Market Research Report (2015-2030)

Millie Walker Millie Walker Beijing, China Last Updated: July 2025 3613

Revenue

$108.8bn

2025

$127.9bn

Past 5-Year Growth

Profit

$X.Xbn

Employees

245k

Businesses

899

Wages

$X.Xbn

Construction Equipment Manufacturing in China industry analysis

China is one of the largest manufacturing countries and consumers of building construction equipment in the world. Revenue for the Construction Equipment Manufacturing industry is expected to increase at an annualized 9.3% over the five years through 2024, to $119.7 billion. The industry has developed rapidly in the past few years.
The market size of the industry is large, but the competition is also fierce. The market concentration of the industry has gradually decreased in recent years. The Government encourages the development of small and medium-sized enterprises, helps them introduce new production technology and financial support, thus reducing industry concentration. The number of enterprises increases by 2.4% on average over the five years through 2024. To increase market share and improve competitiveness, large enterprises actively expand overseas markets.
Industry profit is expected to total 7.2% of revenue in 2024. In the past few years, due to the continuous development of technology, the added value of the industry's products has increased, thus boosting the profit margin. The proportion of wage costs in the industry has dropped over the past few years as many enterprises have introduced automated production lines. However, the industry needs to hire more high-tech personnel to operate production machinery in the future. Total wages are expected to rise by an annualized 2.8% over the five years through 2024 to $2,744.3 million.
Due to the continuous innovation of manufacturing technology of domestic enterprises, the industry's dependence on competing imports has decreased. Over the past five years, the annualized rate of imports has declined by 9.3%. The exports have grown rapidly in the past few years, mainly due to technological advances and the increase in construction projects with foreign cooperation. Exports are expected to grow at an average rate of 3.2% in the next five years.
Industry revenue is expected to increase an annualized 5.5% over the five years through 2029 to total $156.1 billion. This growth will be driven by the Chinese Government's continued investment in construction, water conservation and infrastructure projects.

Trends and Insights

  • The industry in the high-end development to promote industry demand. Downstream market demand for higher performance equipment is driving industry upgrades, which is also pushing downstream replacement demand.
  • The demand for earthmoving machinery will continue to increase in the future. Earthmoving machinery is the most widely used industry products, and the demand increases with the increase of construction projects at home and abroad.
  • Industry activity is concentrated in Hunan, Shandong and Jiangsu province. The three provinces are expected to account for 62.1% of industry revenue in 2024.
  • The industry's concentration level has decreased. Some small and medium-sized enterprises can meet the needs of customers customized and small volume, and the segment market share has gradually dispersed in the past few years.
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Competitors

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Industry Statistics and Trends

Market size and recent performance (2015-2030)

Industry revenue has grown at a CAGR of 7.1 % over the past five years, to reach an estimated $108.8bn in 2025.

Trends and Insights

Chinese government policy drives industry demand

  • Over the past five years, the Chinese government has continued to promote infrastructure construction, including large-scale projects like roads, railways, airports, ports and water conservancy projects.
  • Additional trends and insights available with purchase
Construction Equipment Manufacturing in China
Revenue (2015-2030)
IBISWorld Logo Source: IBISWorld

Industry outlook (2025-2030)

Market size is projected to grow over the next five years.

Trends and Insights

The automation and intelligence rate of the industry will increase

  • Construction equipment will continue to develop in the direction of intelligence and automation. Machinery with high-end functions will improve construction efficiency, reduce labor costs, and promote market demand growth.

Biggest companies in the Construction Equipment Manufacturing in China

Company
Market Share (%)
2023
Revenue ($m)
2023
XCMG Construction Machinery Co., Ltd.
13,112.5
Sany Heavy Industry Co., Ltd.
4,253.9
Guangxi Liugong Machinery Co., Ltd.
3,886.4

To view the market share and analysis for all 9 top companies in this industry, view purchase options.

Products & Services Segmentation

Construction Equipment Manufacturing in China
Products & Services
IBISWorld Logo Source: IBISWorld

Industry revenue is measured across several distinct product and services lines, including Earthmoving machinery, Pavement construction machinery and Municipal machinery. Earthmoving machinery is the largest segment of the Construction Equipment Manufacturing in China.

Trends and Insights

Earthmoving machinery is the most needed products in the downstream industry

  • Earthmoving machinery refers to the equipment used in civil engineering for digging, transportation, loading and unloading, filling, and preparing the ground. Such machinery includes excavators, bulldozers, scrapers, loaders, etc.
  • More insights available in the full report

Table of Contents

About this industry

Industry definition

The Construction Equipment Manufacturing industry manufactures the heavy equipment used on construction sites for buildings and municipal public engineering projects, such as roads, dams and drainage. Industry products include bulldozers, wheel loaders, hydraulic crawler excavators, vibratory rollers and spare parts for construction machinery.

What's included in this industry?

Products and services covered in the Construction Equipment Manufacturing industry in China include Earthmoving machinery, Pavement construction machinery and Municipal machinery.

Companies

Companies covered in the Construction Equipment Manufacturing industry in China include XCMG Construction Machinery Co., Ltd., Sany Heavy Industry Co., Ltd. and Guangxi Liugong Machinery Co., Ltd.

Purchase this report to view all 9 major companies in this industry.

Related Terms

Related terms covered in the Construction Equipment Manufacturing industry in China include excavators, bulldozers and hydraulic machines.

Performance

Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.

Analyst insights

The industry in the high-end development to promote industry demand. Downstream market demand for higher performance equipment is driving industry upgrades, which is also pus...

In this chapter (4)

  • Current Performance
  • Outlook
  • Volatility
  • Life Cycle

Key metrics

  • Annual Revenue, Recent Growth, Forecast, Revenue Volatility
  • Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
  • Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
  • Total Profit, Profit Margin, Profit per Business

Charts

  • Revenue, including historical (2015-2024) and forecast (2025-2030)
  • Employees, including historical (2015-2024) and forecast (2025-2030)
  • Businesses, including historical (2015-2024) and forecast (2025-2030)
  • Profit, including historical (2015-2025)
  • Industry Volatility vs. Revenue Growth
  • Industry Life Cycle

Detailed analysis

  • Trends in supply, demand and current events that are driving current industry performance
  • Expected trends, economic factors and ongoing events that drive the industry's outlook
  • Key success factors for businesses to overcome volatility
  • How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.

Products and Markets

Learn about an industry's products and services, markets and trends in international trade.

Analyst insight

The demand for earthmoving machinery will continue to increase in the future. Earthmoving machinery is the most widely used industry products, and the demand increases with t...

In this chapter

  • Products & Services
  • Major Markets
  • International Trade

Key metrics

  • Largest market segment and value in 2025
  • Product innovation level
  • Total imports, level and trend
  • Total exports, level and trend
  • Trade Balance

Charts

  • Products & services segmentation in 2025
  • Major market segmentation in 2025
  • International trade, including imports by country and exports by country

Detailed analysis

  • Trends impacting the recent performance of the industry's various segments
  • Innovations in the industry's product or service offering, specialization or delivery method
  • Key factors that successful businesses consider in their offerings
  • Buying segments and key trends influencing demand for industry products and services
  • Recent trends in import and export volumes, country of origin or destination, and expected future trends

Geographic Breakdown

Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.

Analyst insights

Industry activity is concentrated in Hunan, Shandong and Jiangsu province. The three provinces are expected to account for 62.1% of industry revenue in 2024.

In this chapter (1)

  • Business Locations

Charts

  • Share of revenue, establishment, wages and employment in each region
  • Share of population compared to establishments in each region in 2025

Tables

  • Number and share of establishments in each region in 2025
  • Number and share of revenue each region accounts for in 2025
  • Number and share of wages each region accounts for in 2025
  • Number and share of employees in each region in 2025

Detailed analysis

  • Geographic spread of the industry across Asia Pacific, and trends associated with changes in the business landscape
  • Key success factors for businesses to use location to their advantage

Competitive Forces

Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.

Analyst insights

The industry's concentration level has decreased. Some small and medium-sized enterprises can meet the needs of customers customized and small volume, and the segment market ...

In this chapter (4)

  • Concentration
  • Barriers to Entry
  • Substitutes
  • Buyer & Supplier Analysis

Key metrics

  • Industry concentration level
  • Industry competition level and trend
  • Barriers to entry level and trend
  • Substitutes level and trend
  • Buyer power level and trend
  • Supplier power level and trend

Charts

  • Market share concentration among the top 4 suppliers from 2020-2025
  • Supply chain including upstream supplying industries and downstream buying industries, flow chart

Detailed analysis

  • Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
  • Key success factors for businesses to manage the competitive environment of the industry.
  • Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
  • Key success factors for potential entrants to overcome barriers to entry.
  • Competitive threats from potential substitutes for the industry’s own products and services.
  • Key success factors for how successful businesses can compete with substitutes.
  • Advantages that buyers have to keep favorable purchasing conditions.
  • Advantages that suppliers have to maintain favorable selling conditions.
  • Key success factors for how businesses can navigate buyer and supplier power.

Companies

Learn about the performance of the top companies in the industry.

Analyst insights

Industry enterprises attract downstream by creating a better brand image. The projects undertaken by the industry are relatively large, and well-known enterprises are easier ...

In this chapter

  • Market Share Concentration
  • Companies
  • Company Spotlights

Charts

  • Industry market share by company in 2021 through 2025
  • Major companies in the industry, including market share, revenue, profit and profit margin in 2025
  • Overview of XCMG Construction Machinery Co., Ltd.'s performance by revenue, market share and profit margin from 2019 through 2025
  • Overview of Sany Heavy Industry Co., Ltd.'s performance by revenue, market share and profit margin from 2019 through 2025
  • Overview of Guangxi Liugong Machinery Co., Ltd.'s performance by revenue, market share and profit margin from 2019 through 2025
  • Overview of revenue, market share and profit margin trend for 6 additional companies

Detailed analysis

  • Description and key data for XCMG Construction Machinery Co., Ltd., and factors influencing its performance in the industry
  • Description and key data for Sany Heavy Industry Co., Ltd., and factors influencing its performance in the industry
  • Description and key data for Guangxi Liugong Machinery Co., Ltd., and factors influencing its performance in the industry
  • Description, key data and performance trends for 6 additional companies

External Environment

Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.   

Analyst insights

The Government stipulates that industry enterprises must produce according to standards. The equipment produced by the industry must be safe, and the pollution level must be ...

In this chapter

  • External Drivers
  • Regulation & Policy
  • Assistance

Key metrics

  • Regulation & policy level and trend
  • Assistance level and trend

Charts

  • Regulation & Policy historical data and forecast (2015-2030) 
  • Assistance historical data and forecast (2015-2030) 

Detailed analysis

  • Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
  • Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
  • Key governmental and non-governmental groups or policies that may provide some relief for industry operators.

Financial Benchmarks

View average costs for industry operators and compare financial data against an industry's financial benchmarks over time. 

Analyst insights

Profit margins are increasing year by year. With the development of technology, the added value of products increases, which is conducive to the improvement of profit margins...

In this chapter

  • Cost Structure
  • Financial Ratios
  • Key Ratios

Key metrics

  • Profit margin, and how it compares to the sector-wide margin
  • Average wages, and how it compares to the sector-wide average wage
  • Largest cost component as a percentage of revenue
  • Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio

Charts

  • Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2025
  • Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2025
  • Investment vs. share of economy

Data tables

  • Cash Flow & Debt Service Ratios (2015-2030)
  • Revenue per Employee (2015-2030)
  • Revenue per Enterprise (2015-2030)
  • Employees per Establishment (2015-2030)
  • Employees per Enterprise (2015-2030)
  • Average Wage (2015-2030)
  • Wages/Revenue (2015-2030)
  • Establishments per Enterprise (2015-2030)
  • IVA/Revenue (2015-2030)
  • Imports/Demand (2015-2030)
  • Exports/Revenue (2015-2030)

Detailed analysis

  • Trends in the cost component for industry operators and their impact on industry costs and profitability 

Key Statistics

Industry Data

Data Tables

Including values and annual change:

  • Revenue (2015-2030)
  • IVA (2015-2030)
  • Establishments (2015-2030)
  • Enterprises (2015-2030)
  • Employment (2015-2030)
  • Exports (2015-2030)
  • Imports (2015-2030)
  • Wages (2015-2030)

Top Questions Answered

Unlock comprehensive answers and precise data upon purchase. View purchase options.

What is the market size of the Construction Equipment Manufacturing industry in China in 2025?

The market size of the Construction Equipment Manufacturing industry in China is $108.8bn in 2025.

How many businesses are there in the Construction Equipment Manufacturing industry in China in 2025?

There are 899 businesses in the Construction Equipment Manufacturing industry in China, which has grown at a CAGR of 3.3 % between 2020 and 2025.

How may import tariffs affect the Construction Equipment Manufacturing industry in China?

The Construction Equipment Manufacturing industry in China is unlikely to be materially impacted by import tariffs with imports accounting for a low share of industry revenue.

How may export tariffs affect the Construction Equipment Manufacturing industry in China?

The Construction Equipment Manufacturing industry in China is likely to be significantly impacted by export tariffs with exports accounting for a high share of industry revenue.

Has the Construction Equipment Manufacturing industry in China grown or declined over the past 5 years?

The market size of the Construction Equipment Manufacturing industry in China has been growing at a CAGR of 7.1 % between 2020 and 2025.

What is the forecast growth of the Construction Equipment Manufacturing industry in China over the next 5 years?

Over the next five years, the Construction Equipment Manufacturing industry in China is expected to grow.

What are the biggest companies in the Construction Equipment Manufacturing industry in China?

The biggest companies operating in the Construction Equipment Manufacturing industry in China are XCMG Construction Machinery Co., Ltd., Sany Heavy Industry Co., Ltd. and Guangxi Liugong Machinery Co., Ltd.

What does the Construction Equipment Manufacturing industry in China include?

Earthmoving machinery and Pavement construction machinery are part of the Construction Equipment Manufacturing industry in China.

Which companies have the highest market share in the Construction Equipment Manufacturing industry in China?

The company holding the most market share in the Construction Equipment Manufacturing industry in China is XCMG Construction Machinery Co., Ltd..

How competitive is the Construction Equipment Manufacturing industry in China?

The level of competition is high and increasing in the Construction Equipment Manufacturing industry in China.

Methodology

How are IBISWorld reports created?

IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.

Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.

IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.

What data sources do IBISWorld analysts use?

Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.

Key data sources in China include:

  • National Bureau of Statistics China
  • General Administration of Customs
  • People’s Bank of China

Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.

These sources include:

  • Industry and trade associations
  • Industry federations or regulators
  • Major industry players annual or quarterly filings

Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.

How does IBISWorld forecast its data?

IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.

IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.

Learn more about our methodology and data sourcing on the Help Center.

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