China: Public Works Machinery Market 2024

Public Works Machinery Market Size in China

The Chinese public works machinery market reached $X in 2021, picking up by 2% against the previous year. Over the period under review, consumption, however, saw a slight contraction. Public works machinery consumption peaked at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Public Works Machinery Production in China

In value terms, public works machinery production stood at $X in 2021 estimated in export price. Over the period under review, production, however, recorded a pronounced setback. The pace of growth appeared the most rapid in 2017 when the production volume increased by 40% against the previous year. Over the period under review, production attained the peak level at $X in 2015; however, from 2016 to 2021, production failed to regain momentum.

Public Works Machinery Exports

Exports from China

In 2021, after six years of decline, there was growth in overseas shipments of machinery for public works and building, when their volume increased by 0.3% to X units. Overall, exports, however, continue to indicate a abrupt descent. The pace of growth was the most pronounced in 2014 when exports increased by 15%. As a result, the exports attained the peak of X units. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, public works machinery exports surged to $X in 2021. In general, total exports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +6.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 with an increase of 38% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the immediate term.

Exports by Country

The United States (X units) was the main destination for public works machinery exports from China, accounting for a 45% share of total exports. Moreover, public works machinery exports to the United States exceeded the volume sent to the second major destination, Germany (X units), sevenfold. The third position in this ranking was held by Russia (X units), with a 2.6% share.

From 2012 to 2021, the average annual growth rate of volume to the United States totaled -12.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-9.9% per year) and Russia (-17.8% per year).

In value terms, the United States ($X), Russia ($X) and Thailand ($X) were the largest markets for public works machinery exported from China worldwide, with a combined 25% share of total exports. These countries were followed by Australia, Sweden, Germany, Belgium, the Philippines, Vietnam, Japan, Poland, Brazil and Spain, which together accounted for a further 20%.

Poland, with a CAGR of +29.4%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average public works machinery export price stood at $X per unit in 2021, growing by 23% against the previous year. Over the period under review, the export price recorded significant growth. The most prominent rate of growth was recorded in 2017 when the average export price increased by 75% against the previous year. The export price peaked in 2021 and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Russia ($X per unit), while the average price for exports to Spain ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+45.1%), while the prices for the other major destinations experienced more modest paces of growth.

Public Works Machinery Imports

Imports into China

In 2021, supplies from abroad of machinery for public works and building increased by 7.3% to X units, rising for the second year in a row after two years of decline. Overall, total imports indicated a perceptible increase from 2012 to 2021: its volume increased at an average annual rate of +3.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +82.2% against 2019 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 70% against the previous year. Over the period under review, imports attained the maximum in 2021 and are likely to continue growth in the immediate term.

In value terms, public works machinery imports skyrocketed to $X in 2021. Over the period under review, imports, however, showed a mild shrinkage. The pace of growth appeared the most rapid in 2017 when imports increased by 31% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports failed to regain momentum.

Imports by Country

The United States (X units), Germany (X units) and Austria (X units) were the main suppliers of public works machinery imports to China, together comprising 88% of total imports.

From 2012 to 2021, the biggest increases were recorded for Austria (with a CAGR of +114.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of machinery for public works and building to China, comprising 82% of total imports. The second position in the ranking was taken by the United States ($X), with a 6.3% share of total imports. It was followed by Italy, with a 5.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany stood at +2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-12.3% per year) and Italy (-10.9% per year).

Import Prices by Country

The average public works machinery import price stood at $X per unit in 2021, picking up by 19% against the previous year. Overall, the import price, however, continues to indicate a perceptible decline. The pace of growth appeared the most rapid in 2013 an increase of 27% against the previous year. The import price peaked at $X per unit in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Italy ($X per unit), while the price for Bulgaria ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Switzerland (+4.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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