In November 2023, China's construction machinery export value turned positive year-on-year after four months of decline. The export value that month increased by 1.14% year-on-year, and the cumulative export value from January to November increased by 10.6% year-on-year. In 2023, the profits of many companies will be supported by overseas income. Some companies reported that the proportion of overseas business of truck cranes has exceeded 60%. Even if categories such as excavators are under short-term pressure, the industry is generally optimistic about the export market in 2024.
Globally, relevant departments and industry organizations in various countries have also conducted research and judgment on the market, and have drawn attention to the possible impact of the 2024 general elections in the European Union, India, South Africa, the United Kingdom, and the United States.
This article attempts to analyze and summarize the market performance of some global markets in 2023 and the prospects for 2024 as follows. Let's look at the Russian market first.
Russia: Chinese manufacturers will still bring surprises in 2024
NAAST stated that the Russian construction machinery market will continue to expand in 2023 due to the large-scale entry of Chinese brands. As of October 2023, 48% of the demand in the Russian market comes from equipment made in China, and Russia's local share is 25%. From October 2022 to October 2023, the share of Chinese brands increased by 24%. In the field of road construction equipment, excavators, loaders and skid steer loaders are of particular interest. During the same period, rental market demand increased by 28%.
From January to September 2023, the import volume of Russian crawler excavators increased by 23% compared with the same period in 2022, with the largest import volume in March, which was 50% higher than the total import volume in 2016.
XCMG's import volume is 4.2 times that of the same period in 2022. Shandong SDLG's growth was even stronger, growing 7.5 times compared with the same period in 2022. Since May 2023, Sany's crawler excavator exports to Russia have dropped significantly, but the total import volume of special equipment has increased by 45%. LiuGong's exports to Russia increased 3.8 times, ranking fourth. In addition to Chinese brands, Diwanlun's delivery volume in the Russian market increased by 46% year-on-year in the first nine months.
In terms of tonnage, the import volume of 20-33t medium-sized excavators increased by 52.5% from January to September 2023, with Shandong SDLG CE E6210F and Sany SY330H and SY215C at the forefront. The market share of 33-90t heavy-duty excavators has increased to 20%, with XCMG's XE335C and XE370CA models leading the way, followed by Sany and Liugong ranking second and third respectively.
In terms of truck cranes, from January to September 2023, Russia imported only 5 non-Chinese brand truck cranes. From January to September 2022, 98% of imported equipment came from XCMG and Zoomlion. From January to September 2023, the number of Sany truck cranes increased significantly. During the same period, the number of XCMG truck cranes increased by 46% year-on-year, and its share dropped to 32% from 54% in the same period in 2022; the number of Zoomlion truck cranes increased by 2.5 times year-on-year, and its share increased by only 2%. Sany's market share in Russia has increased significantly to 21%.
Currently, the number of truck cranes imported from Russia, with a capacity of over 100t, has decreased, accounting for about 70% of the total imports. Cranes below 50t account for 24%, and cranes between 50 and 100t account for 6%. Among them, the equipment with the largest import volume is Zoomlion ZTC300V model, worth 10.9 million rubles.
Import status of other Russian 名媛直播 in the third quarter of 2023:
Wheeled excavators: 577 units imported, an increase of 94%
In the third quarter of 2023, Russia imported 577 wheeled excavators, with a total import volume of US$53,384,965, an increase of 94% and 86% respectively compared with the same period in 2022. Among them, Chinese manufacturers account for 59% of the supply, Korean brands account for 40% (an increase of 2% from the second quarter of 2023, and an increase of 53% from the same period last year), and the remaining small part comes from France and other countries. .
10-20t crawler excavators: 222 units, an increase of 56%
In the third quarter of 2023, Russia imported 222 small crawler excavators worth US$13,627,814, an increase of 56% and 20% respectively from 2022. Chinese manufacturers account for 96% of the supply, Korean brands account for less than 4%, and the remainder is supplied in small quantities by manufacturers in Japan and other countries.
20~33t crawler excavators: 1,401 units, down 32%
In the third quarter of 2023, Russia imported 1,401 medium-sized crawler excavators worth US$111,120,110, a decrease of 32% and 37% respectively compared with the same period in 2022. Chinese manufacturers account for 84% of the supply, Korean brands account for about 15%, and a small amount is imported from countries such as Turkey.
Crawler excavators above 33t: 496 units, down 33%
In the third quarter of 2023, Russia imported 496 heavy-duty crawler excavators, a 33% decrease from the same period in 2022. The total value was $78,559,395, a 32% decrease from the same period in 2022. Chinese manufacturers account for 84%, and Korean brands account for 16%.
Backhoe loaders: 2,558 units, an increase of 258%
In the third quarter of 2023, Russia imported 2,558 backhoe loaders, an increase of 258% over the same period in 2022, worth US$144,721,435, an increase of 227% over the same period in 2022. The share of Chinese manufacturers increased to 61% (an increase of 794% compared to 2022), the share of imports from Turkey was 20% (an increase of 84% compared to the same period in 2022), and the share of imports from India was 11% (an increase of 313% compared to 2022) ). More than 7% of backhoe loaders are imported from other countries.
Medium-sized wheel loaders (100~60 horsepower): 1,267 units, a decrease of 51%
In the third quarter of 2023, Russia imported 1,267 wheel loaders with 100 to 360 horsepower, a decrease of 51% from the same period in 2022; the total value was US$54,837,445, a decrease of 50% from the same period in 2022. About 99% of this category is imported from China, with a small amount of supply coming from countries such as South Korea and Sweden.
Medium-sized bulldozers (100~360 horsepower): 320 units, down 48%
In the third quarter of 2023, Russia imported 320 medium-sized bulldozers, a 48% decrease from the same period in 2022; the total value was US$29,342,128, a 55% decrease from the same period in 2022. All 名媛直播 are imported from China.
Motor graders: 102 units, down 55%
In the third quarter of 2023, Russia imported 102 motor graders, a 55% decrease from the same period in 2022; the total value was US$13,122,744, a 45% decrease from the same period last year. China dominates the market with a 96% share, with the remaining imports coming from Brazil and Japan.
ID-Marketing statistics show that from January to September 2023, Russia's fixed asset investment reached US$20.02 trillion, an increase of 10% compared with the same period in 2022. The region with the highest investment amount is Moscow, with funds accounting for 19.9% of the total investment, an increase of 6.6% over the same period in 2022.
It is understood that within the framework of the China-Russia Intergovernmental Investment Committee, 83 large projects are being implemented, worth approximately US$200 billion, involving gas chemistry, mining, agro-industrial complex, automobile industry, household appliance production, transportation and logistics infrastructure construction and other fields. The Russian Direct Investment Fund (RDIF) and its partners in Saudi Arabia plan to invest more than 1 trillion rubles (approximately $11.166 billion) in projects in Russia.
Russian market professionals expect that the market will become stable and sustainable in 2024. "In 2024, our economy will continue to grow because Russia has gotten rid of constraints, and by then the central bank can focus on printing rubles for its gold and foreign exchange reserves. "At the same time, companies are reminded to focus on improving quality, finding new growth points and service solutions, and strengthening inventory management and logistics team building. It is generally believed that Chinese manufacturers will still bring surprises to the Russian market in 2024.
It is understood that at the same time as the BICES 2023 exhibition, at the China Construction Machinery Industry Association's high-quality development forum for the construction crane industry with the theme of "green, smart, and safe", the organizer of the Russian Crane Exhibition introduced the 2023 Russian Construction Machinery Exhibition to the guests. The Russian market has become a powerful breakthrough and rapid growth pole for Chinese engineering machinery host companies and construction companies to "go global".
