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Having reached an extraordinary peak of almost 55,000 mobile cranes sold in China in 2020, demand for these machines is continuing to cool as the economy slows.
Sales this year are likely to be half what they were in 2022.
In the face of a market which is expected to almost halve in size this year, the dump truck segment provides perhaps the only ray of light in the Chinese equipment industry.
International Construction has released a new podcast in which Off-Highway Research managing director Chris Sleight talks to editor Andy Brown about the current downturn in the Chinese market.
The Chinese, Indian & International Database Services, the Global Volume & Value Service and Customer Groups Database Service have been updated with revised forecasts for 2022-2026.
Our updated-outlook for 2022 is for a -38 per cent fall in sales, from the highs of 2020 and 2021.
The last three years saw a peak in sales, but volumes should remain relatively high and China looks likely to continue to be the largest paver market in the world.
Policy drivers and the availability of products are expected to drive a sharp increase in sales of medium-sized electric wheeled loaders in China. However, it will also remain the largest market for traditional diesel-powered loaders for the foreseeable future.