The Chinese construction machinery sector has shown its great potential by achieving some remarkable targets in the year 2014, after passing through a tough time for the industry with undersized growth rate.
The companies associated with building the machinery sector have come up by mounting a set of trading deals and showcasing advanced technologies in China’s biggest trade fair “Bauma China construction machinery show” held in November.
The Lonking Construction machinery collected lots of praises as it was the fourth time when, the company took participation in Bauma China, one of the appealing international exhibitions for the ‘building machinery’ sector, organized in Shanghai after every two years. Lonkin has stolen the show by unveiling its incredible latest products comprised of valves, pumps and hydraulic components with the help of 1 billion RMB capital investments.
However, the Chinese construction machinery industry has been lacking in certain areas like technology encroachment, eco-friendly machineries and implementing green measures for the manufacturing, but the industry has already included these must-needed objectives in their strategic Plan 2011-2015.
By keeping the customer’s demand into an account, Zoomlion, a popular name in the construction industry showcased 20+ building machineries containing green and energy efficiency features in the trade fair. The company didn’t put heavy investment for producing innovative technology but made investment to achieve essential traits in the machineries. The company has mainly adopted the technologies via multiple partnerships.
More than 3000 companies have participated in Bauma event this year, with one-third of the international companies ensured their participation such as Volvo Construction Equipment etc. Being the paradigm and Guru of the industry, the company said, the growing improvements in Chinese construction machinery companies would not be a sense of threat and a signal for potential rushed conditions but a core determinant for the industry in particular.
Chinese construction industry passes through its rectification period and becoming more maturity over time, said Weissburg. According to Chinese Bureau of commerce, the total revenue generated by the construction machinery industry went down in 2013.
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