The construction machinery industry is a cyclical industry with significant fluctuations. Through analyzing representative companies, this paper points out that the sales of machines entered a decline period in 2019 due to the COVID-19, and recovered in 2021. However, the domestic market continued to decline for two years from 2022 to 2023, while the foreign market performed significantly better than the domestic market, especially driven by the Biden administration's package plan and the European infrastructure investment.
This article analyzes the impact of new trends in globalization on the supply chain of the construction machinery industry. The COVID-19 and the geopolitics in the recent two years had a great impact on the supply chain and logistics of the entire construction machinery industry. During the COVID-19 period, the import, export, supply chain and logistics of the industry were greatly restricted. After the epidemic, China's export volume was still very strong. Starting from 2021, negative factors such as weak domestic infrastructure and real estate have affected the sales of construction machinery, while overseas markets have become the main growth points of China's construction machinery industry.
Currently, our domestic construction machinery brand is also going global. For example, Sany has established its independent research and development center and manufacturing base in Europe, and has also established an independent subsidiary in the United States. Domestic enterprises can improve their response time and overall competitiveness through being closer to overseas customers.
