At the beginning of September, Changsha still had lingering heat, but the square in the factory area of Tiejian Heavy Industry was already a busy scene. A 12.49-meter-diameter earth pressure balance shield machine stands tall, with a silver gray body shimmering with metallic luster, and a striking "webuild" red logo highlighting its identity as "Made in China". This is the largest diameter shield tunneling machine independently developed by China Railway Construction Heavy Industry and will soon be exported to Europe. It will be used in the Sibiu Pitesti highway tunnel project in Romania, becoming another milestone for China's high-end equipment to "go global".

Since the beginning of this year, driven by both domestic and international market demand, the Chinese construction machinery industry has released clear signals of recovery. From the rebound of sales data to the improvement of corporate performance, from the continuous penetration of emerging scenarios such as new energy and agriculture, to the accelerated promotion of internationalization strategy, the industry is gradually emerging from the adjustment period and entering a new stage of high-quality development.

Sales have rebounded, performance has improved, and the industry has released signals of recovery

According to statistics from the China Construction Machinery Industry Association, from January to August 2025, a total of 154181 excavators were sold, a year-on-year increase of 17.2%. Among them, the domestic sales volume was 80628 units, a year-on-year increase of 21.5%, and the export volume was 73553 units, a year-on-year increase of 12.8%. The sales of flatbed machines also achieved a growth of 5.25% during the same period. This change is widely interpreted by the market as a positive transmission of infrastructure investment recovery to the equipment side, especially the concentrated construction of projects such as municipal renewal and transportation improvement, which significantly drives the demand for small and medium-sized earthmoving machinery.

The industry recovery has also been confirmed in the mid-term performance of top companies. XCMG Machinery, Sany Heavy Industry, Zoomlion Heavy Industry and other enterprises have achieved a double increase in revenue and profit, reflecting the effectiveness of product structure optimization and cost control. Analysis has pointed out that the decline in steel prices has increased the profit margins of enterprises, and the proportion of high value-added products such as electrification and intelligence has also improved profitability.

The policy push and equipment update cycle are seen as important driving forces for this round of recovery. With the continuous release of policy dividends at the national level, a large amount of funds have poured into the infrastructure sector, providing strong support for the industry. At the same time, based on the previous industry peak, the 10-year equipment renewal cycle has come to an end, and it is expected that there will be a large-scale wave of equipment replacement in 2025 and the following years.

New energy, mining, and agriculture are blooming in multiple areas, with emerging scenarios driving growth

In addition to traditional infrastructure, construction machinery enterprises are accelerating their expansion into fields such as new energy, mining, industrial manufacturing, and agriculture, forming a market pattern driven by both traditional and emerging industries.

Li Gang, Secretary of the Board of Directors of China Railway Construction Heavy Industry Corporation, stated that the company not only participates in the construction of the national water network backbone, but also provides intelligent anchoring equipment for comprehensive mechanized mining projects, promoting the transformation of the mining industry towards safety, green, and efficiency. The amount of new contracts signed by the company in the second quarter increased by 12.42% year-on-year, indicating sustained development momentum.

Urban renewal has become a new growth point for small and medium-sized machinery. In 2025, multiple cities will promote the renovation of underground pipelines and the renovation of old residential areas, driving the sales of 6-15 ton excavators and small loaders to increase.

Under the "dual carbon" goal, new energy related projects have become highlights. The rapid increase in installed capacity of wind power has driven the demand for customized equipment such as large cranes and special excavators. At the Huangzhai wind power project site in Chongxin, Gansu, a large crane from Sany Heavy Industry is lifting a 186 meter high wind turbine tower. According to project manager Wang Dong, the project achieves "self-developed, self-produced, and self built", relying on the technological advantages of the entire industry chain to promote technology sharing and complementarity among different sectors.

Product innovation is also continuously breaking through. Sany Ocean Heavy Industry recently released the world's first 65 ton energy storage frontal crane and 50 ton pure electric energy storage frontal crane, which achieve energy saving and high efficiency through advanced electronic control pumps and intelligent algorithms, meeting the stringent requirements for equipment endurance in new energy construction.

Localization layout+product upgrade, Chinese enterprises accelerate 'going global'

While consolidating the domestic market, construction machinery enterprises are accelerating the expansion of overseas markets through the strategy of "localized operation+product upgrading".

Emerging markets such as Southeast Asia, the Middle East, and Africa have strong demand for infrastructure, becoming the main export drivers; The European and American markets rely on high-end products to achieve structural growth. Enterprises no longer rely on a single export model, but instead promote localization strategies through integrated overseas research and development, production, and service.

Hengli Hydraulic has established research and development centers in the United States, Europe, and Japan to develop high-pressure oil cylinders, hydraulic valves, and other products for different markets. In the first half of 2025, its Mexico factory will officially start production, enhancing supply chain resilience and achieving a leap from product exports to local services. The cumulative sales of the new product have approached the level of last year's full year and entered the supply chain of internationally renowned manufacturers.

Liugong Machinery has established four overseas manufacturing bases in India, Brazil, Argentina, and Indonesia, set up research and development institutions in Europe, America, and other places, and built an international service network through nearly 400 distributors to achieve localization of the entire R&D, production, and service chain.

Looking ahead to the future, Professor Cao Erbao, Vice Dean of the School of Economics and Trade at Hunan University, pointed out that China's construction machinery industry is entering a new stage of high-quality development. The repair of domestic demand, expansion of new scenarios, and breakthroughs in going global jointly promote the industry's deterministic growth, and are expected to achieve "stable quantity and quality improvement" in the future, further consolidating its global market position. Editor/Xu Shengpeng