China: Market for Mechanical Shovels, Excavators And Shovel Loaders 2024

Market Size for Mechanical Shovels, Excavators And Shovel Loaders in China

In 2023, the Chinese mechanical shovel and excavator market decreased by X% to $X, falling for the second year in a row after five years of growth. In general, consumption, however, saw a buoyant increase. Over the period under review, the market hit record highs at $X in 2021; however, from 2022 to 2023, consumption failed to regain momentum.

Production of Mechanical Shovels, Excavators And Shovel Loaders in China

In value terms, mechanical shovel and excavator production stood at $X in 2023 estimated in export price. In general, production saw a buoyant expansion. The pace of growth was the most pronounced in 2019 with an increase of X%. Over the period under review, production attained the peak level at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

Exports of Mechanical Shovels, Excavators And Shovel Loaders

Exports from China

In 2023, overseas shipments of mechanical shovels, excavators and shovel loaders increased by X% to X units, rising for the seventh consecutive year after four years of decline. In general, exports saw a remarkable increase. The pace of growth appeared the most rapid in 2021 with an increase of X%. The exports peaked in 2023 and are likely to see gradual growth in years to come.

In value terms, mechanical shovel and excavator exports totaled $X in 2023. Over the period under review, exports showed resilient growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure in 2023 and are likely to see steady growth in the immediate term.

Exports by Country

Russia (X units), the United States (X units) and Belgium (X units) were the main destinations of mechanical shovel and excavator exports from China, together comprising X% of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Russia ($X) remains the key foreign market for mechanical shovels, excavators and shovel loaders exports from China, comprising X% of total exports. The second position in the ranking was taken by Belgium ($X), with a X% share of total exports. It was followed by the United States, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to Russia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (X% per year) and the United States (X% per year).

Export Prices by Country

The average mechanical shovel and excavator export price stood at $X per unit in 2023, reducing by X% against the previous year. Over the period under review, the export price recorded a deep reduction. The growth pace was the most rapid in 2018 an increase of X% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2023, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Saudi Arabia ($X per unit), while the average price for exports to Germany ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Mechanical Shovels, Excavators And Shovel Loaders

Imports into China

After four years of decline, overseas purchases of mechanical shovels, excavators and shovel loaders increased by X% to X units in 2023. In general, imports, however, showed a deep downturn. The growth pace was the most rapid in 2017 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X units in 2018; however, from 2019 to 2023, imports remained at a lower figure.

In value terms, mechanical shovel and excavator imports skyrocketed to $X in 2023. Over the period under review, imports, however, faced a abrupt contraction. The growth pace was the most rapid in 2017 when imports increased by X%. Imports peaked at $X in 2012; however, from 2013 to 2023, imports remained at a lower figure.

Imports by Country

In 2023, Japan (X units) constituted the largest supplier of mechanical shovel and excavator to China, accounting for a X% share of total imports. Moreover, mechanical shovel and excavator imports from Japan exceeded the figures recorded by the second-largest supplier, South Korea (X units), tenfold. The third position in this ranking was taken by the United States (X units), with a X% share.

From 2012 to 2023, the average annual growth rate of volume from Japan totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (X% per year) and the United States (X% per year).

In value terms, Japan ($X), South Korea ($X) and the United States ($X) were the largest mechanical shovel and excavator suppliers to China, together comprising X% of total imports. These countries were followed by the Czech Republic, which accounted for a further less than X%.

In terms of the main suppliers, the Czech Republic, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2023, the average mechanical shovel and excavator import price amounted to $X per unit, which is down by X% against the previous year. Overall, the import price continues to indicate a deep setback. The growth pace was the most rapid in 2022 when the average import price increased by X% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2023, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($X per unit), while the price for the Czech Republic ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform