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China Construction Machinery Market Forecast 2022-2028

A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the China construction machinery market is projected to grow at a CAGR of around 4% during the forecast period of 2022-2028. As a growing country, China's rising building activities for infrastructure development are a primary driving force for the Chinese construction machinery market. Furthermore, China's demand for new construction machinery is being fueled by strict government rules requiring high levels of safety and security in building activities. However, the high cost of

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China Construction Machinery Market Forecast 2022-2028

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  1. China Construction Machinery Market, By Equipment Type, Trend Analysis, Competitive Market Share & Forecast 2020-2027

  2. China Construction Machinery Market- Industry Trends & Forecast Report 2028 A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the China construction machinery market is projected to grow at a CAGR of around 4% during the forecast period of 2022-2028. As a growing country, China's rising building activities for infrastructure development are a primary driving force for the Chinese construction machinery market. Furthermore, China's demand for new construction machinery is being fueled by strict government rules requiring high levels of safety and security in building activities. However, the high cost of construction machinery acts as a huge restraint for market growth.

  3. Growth Drivers  Expanding Construction Activities for Infrastructural Development Since China is an emerging economy, the government, and private sector significantly invest in the construction of buildings and other infrastructures. The construction of commercial facilities such as airports, hotels, offices, roads, manufacturing plants, etc., is proliferating at a high rate. The government is also sanctioning tenders to boost the infrastructural development activities in the country. All these factors are anticipated to drive the China construction machinery market in the forecast period. Sample Copy of the report: https://www.blueweaveconsulting.com/report/china-construction-machinery-market/report-sample

  4. Restraints High Cost of Construction Machinery The high cost of construction machinery and equipment is a key stumbling block to the Chinese construction machinery market's expansion. The average price of a bulldozer, which is very commonly used in construction activities, ranges around USD 30,000 to USD 200,000 and more. Such high cost prompts the contractors to opt for leasing construction machinery or buying second-hand machinery instead of new ones, which hinders the market growth.

  5. Impact of COVID-19 on China Construction Machinery Market The entire construction industry was among the worst affected sectors post the coronavirus outbreak in China. China being the epicenter of the virus outbreak, had to halt all economic activities and focus completely on virus spread and the healthcare industry. Due to this, the manufacturing and distribution of construction machinery were immediately halted. Furthermore, the infrastructural development activities were also restricted during the lockdown period, which resulted in a subsequent decline in the demand for construction machinery in China.

  6. Competitive Landscape The leading market players of the China construction machinery market are Kobelco, Tadano, XCMG, Liebherr Corp, Sany Group, China Communications Construction Company, Zoomlion, Volvo CE, Caterpillar Inc, and other prominent players. The market is consolidated with the presence of established players that covers significant shares in the market. However, several small companies are also entering the market and giving tough competition by offering a wide range of high-quality construction machinery. The companies constantly launch new products to grab a larger share in the market. Furthermore, the adoption of competitive strategies such as partnerships, mergers, acquisitions, collaborations, etc., is also prominent in this market.

  7. Recent Developments • In March 2022, China Yuchai International Limited, a machinery industry company, through its subsidiary Guangxi Yuchai Machinery Company Limited, announced its joint venture with Beijing YuchaiXingshunda New Energy Technology Co., Ltd., for the development and manufacturing of fuel cell powertrain systems.

  8. Key Players Kobelco, Tadano, XCMG, Liebherr Corp, Sany Group, China Communications Construction Company, Zoomlion, Volvo CE, Caterpillar Inc, and other prominent players.

  9. About Us: Blueweave Consulting offers a one-stop solution for your market intelligence needs for any service or product. You get well-researched comprehensive reports based on qualitative and quantitative data to put your business plan into action. Your well-informed and timely decisions using our reports avert situations of excessive risks and help you grow your business with optimum risk-return trade-off. Delivering quality insights into several product or service markets within the timeline as per the needs of the clients has earned BWC an excellent reputation among clients. BWC strives to provide timely and accurate digital market intelligence services for making your business endeavors successful.

  10. Contact Us:  +1 866 658 6826 +1 425 320 4776 +44 1865 60 0662  info(@)blueweaveconsulting.com  www.blueweaveconsulting.com

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