According to the latest data from the General Administration of Customs, from January to October 2025, China exported a total of 5,549 tower cranes, a year-on-year increase of 42.25%. Meanwhile, data from the China Construction Machinery Association also shows that during the same period, tower crane exports reached 2,079 units, a year-on-year increase of 28.3%, both confirming the strong growth in the export market. (*There are differences in statistical methods between the association's and customs data.)
However, according to the association's statistics, a total of 4,463 tower cranes were sold from January to October, a year-on-year decrease of 30.6%; of which, domestic sales were 2,384 units, a year-on-year decrease of 50.4%. This contrasting trend reflects the profound transformation that China's tower crane industry is undergoing.
Exports Surge, Driving Growth as the Main Engine
According to the association's statistics, 329 tower cranes were sold in October, a year-on-year decrease of 6.8%, of which 130 units were exported, a year-on-year increase of 14%. Except for January and June, export sales have achieved significant year-on-year growth in every month since 2025, demonstrating a strong external demand-driven effect.
The high growth in the export market is mainly attributed to the following factors: First, the in-depth implementation of the Belt and Road Initiative has led to a continuous release of infrastructure construction demand in countries and regions along the route; second, leading enterprises such as Zoomlion have accelerated their global expansion, significantly enhancing the competitiveness of Chinese tower crane products and forming comprehensive advantages in cost-effectiveness, delivery capacity, and after-sales service; third, increased replacement demand in developed countries in Europe and America has increased the acceptance of Chinese mid-to-high-end products.
Customs data shows that from January to October, Chinese tower crane exports covered 121 countries and regions. The UAE (700 units), Turkey (539 units), and Kazakhstan (480 units) ranked in the top three. Exports to Uzbekistan, India, Kyrgyzstan, Russia, Vietnam, Mongolia, Saudi Arabia, Brazil, and Singapore all exceeded 100 units, reflecting the high penetration and concentration of Chinese tower cranes in Belt and Road countries and emerging markets.
Insufficient Domestic Demand Momentum and Continued Deep Adjustment
In stark contrast to the booming exports is the "winter" in the domestic market. According to association statistics, domestic sales of tower cranes in October totaled 199 units, a year-on-year decrease of 16.7%, with cumulative domestic sales from January to October showing a year-on-year decline of over 50%. Entering 2025, the decline in domestic tower crane sales has gradually narrowed, but the downward trend has not yet reversed.
The biggest culprit is undoubtedly the continued sluggishness of the real estate market, a core application scenario for tower cranes. Statistics show that since 2022, my country's total real estate development investment has gradually declined, decreasing by 10.6% year-on-year in 2024, while new housing starts have plummeted by 23%. Entering 2025, although policies have eased somewhat, key indicators such as real estate investment and new housing starts have not shown significant improvement, resulting in insufficient tower crane utilization rates at construction sites and difficulty in stimulating domestic demand.
The rental market is experiencing a decline in both volume and price, putting pressure on industry profitability.
The Tower Crane Rental Industry Prosperity Index (TPI) also reflects the difficult situation in the market. In October 2025, the tower crane utilization rate was 57.0%, a month-on-month decrease; the rental price index was 495.02 points, also a month-on-month decrease, and 72.78 points lower than the same period last year. The simultaneous decline in both utilization rate and rental price indicates extremely fierce competition in the rental market. Companies are forced to lower prices to maintain equipment utilization, further compressing the overall profit margin of the industry.
It is worth noting that against the backdrop of shrinking demand in traditional application areas such as real estate and infrastructure, emerging application areas such as new energy infrastructure are rapidly rising. Coupled with the growth potential shown in overseas markets, this has stabilized the industry's development to some extent.
Looking at rental data, data from Pangyuan Leasing, the largest tower crane lessor in China and even globally, shows that since 2025, the company's weekly contract volume has continued to decline compared to the same period last year, but the decline has stabilized relatively. Industry insiders predict that the Chinese tower crane market may be entering a "bottoming out" phase, but a full recovery of the industry will not occur until 2026.
Overall, the tower crane industry is expected to continue to maintain a development trend of "bottoming out domestic demand and strong external demand." However, with the transformation and upgrading of China's economic structure, the advancement of the "Belt and Road" initiative, the implementation of new infrastructure policies, and the steady recovery of global manufacturing, new growth opportunities will be brought to the tower crane industry. We can wait for the turning point!
