A record volume of almost 55,000 all terrain, crawler, rough terrain and truck-mounted cranes were sold in China in 2020, according to The Mobile Crane Industry in China, a new report from Off-Highway Research. To put this in context, demand for these types of cranes in the rest of the world combined in 2020 was some 7,400 units, and even in years of strong demand, sales are in the region of 10,000-11,000 units.
Having reached such an unprecedented high on the back of the country’s stimulus spending, a decline was always anticipated, and sales fell 10 per cent in 2021. Off-Highway Research anticipates a much sharper decline this year, with volumes likely to be less than half what they were in 2020. A shallower slowdown is expected form 2023-2025, when the market is expected to bottom-out.
The slowdown in the Chinese crane market has proved to be more sever then Off-Highway Research previously forecast. This is directly linked to the deterioration which has been seen in the Chinese real estate segment this year.
“Most developers have suffered from slow sales, their cashflow have been severely impacted and their fund-raising plans impeded by poor creditworthiness; as a result, they have now substantially reduced their investments in new projects. From the long-term viewpoint, real estate development may hardly be able to restore traditional levels of demand for equipment, and cannot be substituted by new demand from other sectors,” said the report.
The 68 page report on the mobile crane industry in China is now available to subscribers to Off-Highway Research’s Chinese Service. It is also available to buy on our online store. Click here for details.
It is believed to be the most detailed and in-depth report ever published on the subject, with analysis covering market size, market shares, production, foreign trade, market structure, distribution networks, equipment population, machines available and a five-year forecast.
Contact [email protected] for more details about our reports and subscription packages.