In 2025, amidst a complex and volatile domestic and international environment, China's construction machinery industry forged a path of steady progress despite pressure: domestic market demand bottomed out and began to recover, overseas business thrived thanks to its core competitiveness, and the trends of high-end, intelligent, and green technologies continued to surge, injecting new momentum into the industry.
2025 Review
In 2025, China's construction machinery exports reached a new high of US$59 billion, with a year-on-year increase of 12.4% from January to November. Excavator exports accounted for over 53% of total exports for the first time. Leading companies have long since moved beyond the single model of "product export" and are now focusing on "localized operations." XCMG and Sany's overseas production capacity accounts for over 20% of their total capacity. Hengli Hydraulics and Shandong Lingong have established production bases in Mexico and Indonesia, achieving a localization rate of 60% and effectively circumventing trade barriers. Overseas business has become a core growth engine for the industry, with Sany Heavy Industry and Zoomlion's overseas revenue accounting for over 60% and 57.36% respectively, indicating a penetration into the high-end market in overseas markets.
Looking ahead to 2026
The industry's export value is expected to exceed US$60 billion in 2026, with electric products accounting for 20% of exports. By the end of the 15th Five-Year Plan period, overseas revenue will account for over 50%, forming a pattern of 60% from emerging markets and 25% from high-end markets in Europe and America. In the future, leading companies will complete their "global R&D center + regional manufacturing base" layout in 2027-2028, building a localized closed loop of R&D, production, and service, and strengthening their global competitiveness driven by both "technology + service."
Review of 2025
In 2025, the industry's electrification officially moved from the "market validation period" to the "mass production period." Electric loader sales reached 27,049 units in the first 11 months, and electric mixer truck sales reached 13,262 units from January to October, both achieving year-on-year growth of more than double. Core technologies continue to break through, with fast charging technology achieving a full charge in 1.37 hours, operating range exceeding 8 hours, and energy consumption costs of electric equipment reducing by 35%-60% compared to fuel engines. Penetration rates are rapidly increasing in scenarios such as mines and ports. The overseas market also performed exceptionally well, with LiuGong electric loaders seeing a 193% year-on-year surge in global sales, accounting for over 50% of total exports. Electric products have become a core competitive advantage in overcoming environmental barriers imposed by Europe and the United States.
Looking Ahead to 2026
The penetration rate of new energy equipment will further increase in 2026. The proportion of "fuel-free equipment" in scenarios such as ports, mines, and urban infrastructure will continue to rise. Multiple technological routes, including pure electric, hydrogen energy, and methanol power, will develop in parallel. Hydrogen energy and methanol power are expected to enter the commercial stage in 2027-2028. OEMs are accelerating their transformation into "equipment + energy service providers," and the demand for green equipment in domestic and international markets continues to climb.
Review of 2025
In 2025, the intelligentization of construction machinery will enter a "value realization period," shifting from "concept hype" to "scenario implementation." Unmanned cluster operations in mines and the large-scale application of digital twin construction sites will be observed. Sany's unmanned paver fleet achieved 480 hours of continuous construction, XCMG's unmanned mining trucks improved operating efficiency by 30%, and the penetration rate of intelligent operation and maintenance in mining scenarios exceeded 30%. Deepening technological integration, AI now covers over 80% of production scenarios. Zoomlion's smart factory can produce one excavator every 6 minutes, with equipment connectivity exceeding one million units. Predictive maintenance and fleet management have become new profit drivers for the company.
Looking Ahead to 2026
In 2026, intelligent equipment sales are expected to account for over 10%, with predictive maintenance services covering over 300,000 customers. During the 15th Five-Year Plan period, "green and intelligent equipment solutions" will gradually become mainstream in mining equipment by 2027, with major manufacturers shifting from "selling equipment" to "selling solutions." Even more disruptive, by 2030, AI technology will enable customers to independently configure equipment functions through platforms, allowing OEMs to achieve "mass customization" and gradually change the "standardized production" model.
Review of 2025
In 2025, significant breakthroughs were achieved in the localization of core components, reaching a localization rate of 78%. Shandong Heavy Industry successfully overcame bottleneck technologies such as high-end hydraulic systems and CVT transmissions, while XCMG's XES energy management system outperformed similar international products. The industrial cluster effect continues to stand out, with the output value of the three major bases in Hunan, Jiangsu, and Shandong steadily increasing. The supporting rate within the clusters reached 75%, the collaborative R&D cycle between OEMs and component manufacturers shortened by 30%, and logistics costs decreased by 15%. The collaborative overseas expansion model is accelerating, with XCMG partnering with 12 component companies to share overseas warehousing and service networks, resulting in a 40% year-on-year increase in overseas orders for supporting companies.
Looking Ahead to 2026
The self-sufficiency rate of core components will further improve in 2026, with over 95% self-sufficiency expected by the end of the 15th Five-Year Plan. China will gradually dominate global standards for core components of construction machinery. The "chain leader + supporting" cluster model is being rapidly replicated overseas, achieving "local R&D - local production - local supporting" in Mexico, Poland, and other locations. Supply chain efficiency is becoming a core competitive advantage for enterprises.
Review of 2025
In 2025, the domestic market is showing a "structural recovery" driven by policies. The implementation of ultra-long-term special national and large-scale equipment renewal policies, coupled with the commencement of major projects such as the Yarlung Tsangpo River hydropower project, effectively boosted market demand. Excavator sales reached 212,000 units for the year, a year-on-year increase of 16.7%, with domestic sales growing by 18.6%. Sub-sectors performed exceptionally well, with mining machinery, aerial work platforms, and tower cranes maintaining high growth rates. The demand structure continued its shift towards "new infrastructure + new energy + urban renewal."
Looking ahead to 2026
The domestic construction machinery market is expected to continue its growth in 2026. During the 15th Five-Year Plan period, urban renewal, new energy infrastructure, and mining will continue to drive incremental demand. Furthermore, major projects such as the Ya'an-Xiamen Hydropower Station and the Xinjiang-Tibet Railway, due to their construction difficulty and scale, will further stimulate domestic market demand and upstream and downstream supporting industries. Even more promising is the emergence of a "equipment sales + service guarantee + aftermarket business expansion" model, with major manufacturers shifting from a "one-off sales" model to a "total solution" business model.
