Core Insights - The global supply chain restructuring is accelerating, transitioning from infrastructure construction to the critical phase of equipment procurement [1][2] - Most economies have completed the foundational and structural phases of factory construction and are nearing the end of the utility installation phase [1][3] Group 1: Equipment Procurement Phase - Economies such as the United States, India, Malaysia, and Romania have entered the equipment procurement phase, with significant increases in imports of key production equipment like milling machines, grinding machines, and cutting machines since the second half of 2024 [1][2][18] - The report indicates that the import volumes of generators and transformers have significantly increased from 2021 to 2023, aligning with the current capital expenditure trends, followed by a temporary slowdown in 2024 and a resurgence in 2025 [2][30][31] Group 2: Construction Phases Completion - The report highlights that the import values of excavators, pile drivers, and rebar, which represent the foundational phase, peaked and began to decline in the second half of 2023 for developed countries, while emerging markets showed a slowdown in growth [3][5][10] - The import data for cranes indicates that most economies have shown signs of a decline, suggesting that the structural phase of construction has either paused or concluded [3][7] Group 3: Utility Installation Phase - The utility installation phase is nearing completion, with data showing that the import values of water pipes in developed countries are expected to rebound after hitting a low in mid-2024, while emerging markets continue to see higher growth rates [15][16] - The report notes that cable imports in developed countries are also projected to rise again in the second half of 2024, indicating ongoing demand in the utility installation phase [16][20]