In a remarkable gathering, over 1,200 company representatives from 63 countries and regions convened in Xuzhou, East China, home to one of the world’s largest construction machinery manufacturers. They arrived to explore and acquire the latest in heavy machinery—brand new, custom-made, and technologically advanced equipment that is transforming the industry.
One of the most significant purchases was made by Brazil’s WTC Equipment, which acquired a 3,000-tonne crane valued at nearly $9 million. This impressive machine showcases cutting-edge technology and reflects the growing global confidence in Chinese manufacturing.
“It is not just me, but in the entire South American and even the global market, people are discovering that the quality of Chinese machinery keeps getting better with time. The quality is high and the pricing is very reasonable. That’s why I believe the global market continues to choose Chinese products,” said Washington Moura, Chief Commercial Officer of WTC.
The crane is expected to be instrumental in constructing wind farms, with anticipated returns within ten years—a promising timeframe for such a substantial investment.
Yang Yufeng, President of the Mining Machinery Research Institute at Xuzhou Construction Machinery Group (XCMG), explained the trend toward larger machinery. “Mines are becoming larger as companies continue to consolidate smaller mines. Secondly, large machines can help cut labor costs while improving workers’ safety. Especially in countries like Australia and Brazil, the demand for larger machines continues to grow year by year,” he said.
The global construction machinery market experienced a slowdown during the onset of the COVID-19 pandemic in 2020 but began to recover after 2021. Industry reports anticipate the market size to exceed $180 billion by 2030. China leads this expanding market as the largest construction machinery producer, holding approximately 46% market share, followed by North America and Europe.
“The market has changed. If you think carefully, the first brand coming to people’s mind was Caterpillar. And now, people are thinking of other brands. I think the market has changed,” observed Lenardo Riccioppo, Commercial Director at Zocar.
Stuard Brooks, Managing Director of Brooks Group in Australia, highlighted the advantages of trading with China. “Trading with China makes so much sense. Up north in Perth, we are in the same time zone. It is very efficient. And the ‘made in China’ brand is actually like a badge of quality these days,” he said.
Beyond their size, Chinese manufacturers are leading in producing electric-powered machinery, attracting significant attention. Approximately 20% of XCMG’s mining machinery is now classified as new energy—primarily electrified—with plans to offer half of its lineup in new energy solutions.
“In the first quarter of 2024, exports of new energy machines from XCMG grew 286%—a very sharp increase. That’s mainly because new energy products are greener, with low carbon footprints, and they truly save energy. Customer demands on these are very clear,” said Liu Jiansen, Vice President of XCMG Machinery.
Future technologies such as autonomous driving and remote operating vehicles were also showcased, demonstrating China’s commitment to innovation in the industry.
The global market is increasingly seeking these advanced machines to improve efficiency and promote sustainable development. China’s leadership in electrifying construction machinery positions it at the forefront of an inevitable future path for the sector worldwide.
Reference(s):
Mega World: Chinese construction machinery attracts global buyers
cgtn.com
