QYResearch | 工程机械业务介绍

Industry Overview - The engineering machinery industry chain consists of upstream raw materials, midstream machinery manufacturing, and downstream application scenarios, including real estate and infrastructure construction [1]. - The global engineering machinery market is projected to reach $129.6 billion by 2024, with China's market expected to reach $47.8 billion [17][19]. Upstream Products - Key upstream products include engines, hydraulic cylinders, and tires, with a significant reliance on imported brands for high-performance components [2][3][4]. - The global market for upstream raw materials is dominated by European and American companies, although domestic replacements are accelerating [5]. Major Companies - Caterpillar is the largest engineering machinery manufacturer globally, with projected sales of $42 billion in 2024 [9]. - Komatsu, a prominent Japanese company, is expected to achieve sales of $26 billion in 2024 [11]. - XCMG, the largest Chinese manufacturer, is projected to reach $12.9 billion in sales in 2024 [13]. Market Segmentation - Excavators and concrete machinery are expected to maintain significant market shares, with other machinery types also experiencing growth [21]. - The market for electric engineering machinery is rapidly growing, with a projected compound annual growth rate (CAGR) of 148.6% from 2018 to 2024 [32]. Export Trends - China's engineering machinery exports reached $44.3 billion in 2022, with a year-on-year growth of 30.2%, and are expected to grow to $48.6 billion in 2023 [28]. - ASEAN has become the largest region for China's engineering machinery exports, driven by policies like the Belt and Road Initiative [30]. Electric Machinery Market - The electric machinery segment is expected to see significant growth, with electric excavators and loaders projected to have high sales volumes by 2030 [34][35]. - The penetration rate of electric machinery is anticipated to exceed 30% by 2030, driven by advancements in battery technology and increasing market demand [34].