China's construction machinery industry has a solid foundation, and driven by national strategies such as the "One Belt, One Road" initiative, this industry has huge development opportunities. According to statistics from the China Construction Machinery Industry Association, the scale of my country's construction machinery market will be 800 billion yuan in 2021, a year-on-year increase of 3.21%. Benefiting from multiple positive effects such as the pull of demand for new and old infrastructure, environmental protection upgrades, equipment replacement, and artificial substitution effects, China's construction machinery industry is currently in an upward development stage.
With the continuous expansion of the scale of infrastructure construction, the sales of internal combustion engines for construction machinery in China have also shown a year-by-year growth trend in recent years. According to statistics from the China Internal Combustion Engine Industry Association, the sales volume of internal combustion engines for construction machinery in my country was 471,700 units in 2016, and 1.1358 million units of internal combustion engines for construction machinery in China in 2021. From 2016 to 2021, the compound growth rate of internal combustion engines for construction machinery sales in China reached 19.21%.
Under the guidance of "Made in China 2025", with the continuous advancement of the supply-side structural reform and the "Belt and Road" construction, the construction machinery industry will continue to accelerate the transformation and upgrading process, change the traditional extensive growth mode, and improve the quality of development. Structural upgrades will generate higher demand for supporting internal combustion engine products, thereby stimulating demand growth for internal combustion unit controllers. At the same time, with the gradual stabilization of the growth rate of infrastructure investment, the arrival of the industry replacement cycle, and the advancement of the “One Belt, One Road” strategy, the incremental export market has been gradually opened up, and the healthy development of the construction machinery industry is expected to continue.
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