Recently, the Ministry of Industry and Information Technology and six other departments jointly issued the "Work Plan for Stable Growth of the Machinery Industry (2025-2026)" (hereinafter referred to as the "Work Plan"), which has set a clear blueprint for the development of the machinery industry in the past two years. The plan clearly states that from 2025 to 2026, the operating income of the machinery industry will strive to exceed 10 trillion yuan at an average annual growth rate of about 3.5%, while also requiring key segmented industries to maintain stable scale and accelerate the cultivation of new quality productivity. Under this macro orientation, construction machinery, as the core sector, has been mentioned multiple times in the plan and will usher in multiple development opportunities driven by policy dividends. The path for high-quality development of the industry is also becoming increasingly clear.
Old equipment update: Activate the demand for stock replacement and release incremental space
One of the important driving points of the Work Plan is to increase the intensity of major technological transformation and large-scale equipment updates in the manufacturing industry, clearly requiring the acceleration of the upgrading and technological transformation of old equipment with high energy consumption, heavy pollution, and low safety, and specifically including construction machinery in the key areas of "expanding demand", together with rail transit equipment and intelligent detection equipment, becoming the core direction of policy promotion. This deployment precisely aligns with the current status of existing equipment in the construction machinery industry, which will directly generate considerable demand for replacement.
Since the full implementation of the National IV emission standards for non road vehicles in December 2022, there are still a large number of construction machinery with National II and III standards in service in China. According to data, as of the end of 2023, the total number of construction machinery in China will reach about 10 million units, of which about 1.72 million units are excavators alone. The number of excavators in China's second and third countries is about 280000 and 1.34 million respectively, accounting for over 90% of the total. With the accelerated progress of updating old equipment in the Work Plan, these National II and National III equipment that do not meet current energy consumption, environmental protection, and safety standards will gradually enter the replacement cycle. From a market logic perspective, this can not only quickly digest the industry burden brought by existing old equipment, but also directly transform it into sales increment of new equipment, opening a concentrated market demand window for construction machinery enterprises and promoting a phased growth trend in industry sales.
Empowering Technological Innovation: Accelerating the Transformation of "Electrification and Intelligence" and Enhancing Industrial Competitiveness
The long-term benefits of the Work Plan for the construction machinery industry are reflected in its strong guidance for technological innovation. The plan clearly proposes to implement the "Intelligent Equipment Innovation and Development Project", promoting the integration and innovation of emerging technologies and equipment such as artificial intelligence, quantum technology, and Beidou navigation. At the same time, it requires breakthroughs in key areas such as new energy engineering machinery and intelligent detection equipment in response to national strategic needs. This orientation is highly in line with the current trend of transformation in the construction machinery industry, and will further accelerate the industry's upgrading towards "high-end, intelligent, and green".
The penetration rate of electric loaders continues to increase
In the field of electrification, the industry has a solid foundation for development: the electrification rates of forklifts and aerial work machinery are as high as 70% and 90% respectively, and the penetration rate of new energy in mainstream construction machinery such as loaders and concrete mixers has also rapidly increased in recent years. The introduction of the "Work Plan" is equivalent to injecting a "policy accelerator" into the development of new energy engineering machinery - whether it is funding and resource allocation at the technology research and development level, or the expansion of "intelligent manufacturing and smart transportation" scenarios at the application scenario level, it will promote new energy 名媛直播 from "niche pilot" to "large-scale popularization". In the future, new energy engineering machinery is expected to achieve breakthroughs in more sub sectors and become the core driving force for industry growth.
In the field of intelligence, policy promotion will help the industry overcome the dual challenges of "technological bottlenecks" and "scenario implementation". At present, the intelligence of the construction machinery industry has entered the stage of "deep application" from "conceptual exploration": the embedding of intelligent control systems enables equipment to achieve "three optimizations" in construction efficiency, engineering quality, and operation and maintenance costs; Autonomous driving technology has been widely applied in high-risk scenarios such as mines and ports, reducing operational risks and ensuring construction continuity.
The requirements proposed in the Work Plan, such as "enhancing the intelligent service function of equipment" and "breaking through intelligent equipment technology", will further guide enterprises to increase research and development investment, promote the upgrading of intelligent technology from "single point breakthrough" to "full industry chain integration", and ultimately reshape the technological ecology and industrial competitiveness of the construction machinery industry.
Optimization of Industrial Ecology: Cultivating Leading Enterprises+Standardizing Competition Order, Consolidating the Foundation for High Quality Development
In addition to the benefits from both the demand side and the technology side, the 'Work Plan' also provides protection for the construction machinery industry from the perspective of industrial ecology, focusing on the two directions of 'enterprise cultivation' and 'order regulation', laying the foundation for the long-term high-quality development of the industry.
On the one hand, the plan proposes to "utilize resources such as the national industry finance cooperation platform and industrial development fund to support enterprises to become stronger, better, and bigger", and specifies the cultivation of "several world-class enterprises" in the field of construction machinery. This policy orientation will provide strong support for industry leading enterprises: by combining production and finance to reduce financing costs and expand development space, leading enterprises can further increase their efforts in technology research and development, overseas market expansion, and industrial chain integration, and enhance their market share and discourse power in the global market. From the perspective of industry structure, the strong rise of leading enterprises will play a "head driving effect", leading the entire industry chain to upgrade towards high-end, while promoting industry concentration, reducing resource waste caused by low-end overcapacity, and optimizing industrial structure.
On the other hand, the plan addresses the long-standing issue of "irrational competition" in the industry, proposing to "focus on rectifying irrational competition and guide industry associations to strengthen self-discipline". Previously, the construction machinery industry had suffered from low price competition and homogeneous competition among some companies, resulting in a compressed profit margin and even affecting product quality and technological innovation investment. The Work Plan will regulate the order of competition at the policy level, curb vicious competition, guide enterprises to invest more energy in technology research and development, product upgrading, and service optimization, promote the industry from a "price war" to a "value war", and create a healthy and orderly market environment for the sustainable development of the industry.
Overall, the "Work Plan for Stable Growth in the Machinery Industry (2025-2026)" brings multidimensional and profound benefits to the construction machinery industry: in the short term, the renewal of old equipment will quickly release market demand and inject sales growth momentum into the industry; In the medium term, technological innovation guidance will accelerate the transformation towards electrification and intelligence, driving the industry's competitiveness to soar; In the long run, optimizing the industrial ecosystem will cultivate leading enterprises, regulate competition order, and solidify the foundation for high-quality development. Under the continuous drive of policy dividends, the construction machinery industry is expected to break through the bottleneck of development and usher in a new stage of development of "quantity stability and quality improvement"!
