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    Russia: Chinese Manufacturers Will Still Bring Surprises in 2024

    Article source:Today's construction machinery Upload time:2024-01-16

    In November 2023, the export value of China's construction machinery turned positive year-on-year after experiencing four months of decline, with a year-on-year increase of 1.14% in export value. The cumulative export value from January to November increased by 10.6% year-on-year. In 2023, many companies rely on overseas revenue to support their profits, and some companies have reported that the proportion of overseas business for automotive cranes has exceeded 60%. Despite short-term pressure on categories such as excavators, the industry is generally optimistic about the export market situation in 2024.

    On a global scale, relevant departments and industry institutions in various countries have also conducted research and judgments on the market, and drew attention to the potential impact of the 2024 elections in the European Union, India, South Africa, the United Kingdom, and the United States.

    This article attempts to analyze and summarize the market performance of some global markets in 2023 and the outlook for 2024 as follows. First, let's take a look at the Russian market.

    Russia: Chinese Manufacturers Will Still Bring Surprises in 2024

    NAAST stated that the Russian construction machinery market will continue to expand in 2023 due to the large-scale entry of Chinese brands. As of October 2023, 48% of the demand in the Russian market comes from equipment made in China, with a local market share of 25% in Russia. From October 2022 to October 2023, the share of Chinese brands increased by 24%. In the field of road construction equipment, excavators, loaders, and skid loaders are of particular concern. During the same period, the rental market demand increased by 28%.

    XCMG's import volume is 4.2 times that of the same period in 2022. Shandong Lingong's growth is even stronger, increasing by 7.5 times compared to the same period in 2022. Since May 2023, the export volume of Sany tracked excavators to Russia has significantly decreased, but the total import volume of special equipment has increased by 45%. Liugong's export volume to Russia has increased by 3.8 times, ranking fourth. Outside of Chinese brands, the delivery volume of Dyvanlon in the Russian market increased by 46% year-on-year in the first nine months.

    In terms of tonnage, the import volume of medium-sized excavators from January to September 2023 increased by 52.5%, with Shandong Lingong LGCE E6210F, Sany SY330H, and SY215C ranking among the top. The market share of 33~90t heavy-duty excavators has risen to 20%, with XCMG XE335C and XE370CA models leading, Sany and LiuGong ranking second and third respectively.

    In terms of car cranes, from January to September 2023, Russia only imported 5 non Chinese brand car cranes. From January to September 2022, 98% of imported equipment came from XCMG and Zoomlion Heavy Industry. From January to September 2023, the number of Sany truck cranes significantly increased. During the same period, the number of XCMG truck cranes increased by 46% year-on-year, and their share decreased from 54% in the same period in 2022 to 32%; The number of Zoomlion heavy-duty truck cranes increased by 2.5 times year-on-year, and their share only increased by 2%. Sany's market share in Russia has significantly increased to 21%.

    Currently, the number of crane units with a capacity of over 100 tons imported from Russia has decreased, accounting for about 70% of the total import volume. Cranes weighing less than 50 tons account for 24%, while cranes weighing between 50 and 100 tons account for 6%. Among them, the import volume is the highest

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