China: Chinese construction machinery attracts global buyers

Some 1200 company representatives from over 60 different countries and the regions arrived here in East China's St. Joe City, where one of the largest construction machinery makers in the world is based. They came all the way here for these beasts, brand new custom made modern machines. One of the largest purchases was made by WTC women from Brazil, a 3000 ton crane costing some $9 million per unit. It is a gigantic and costly machine. As a Washington Mara, Chief commercial officer of WTC, jokes, older men just get bigger toys. And this toy, he believes, comes with a great quality and a good prize. It's not just me, but the entire South American and even the global market. People are discovering that the quality of Chinese machinery keeps getting better with time. The quality is high and the pricing is very reasonable. That's why I believe the global market continues to choose Chinese products. It is expected that the crane will be used to build wind farms, and it will see returns in 10 years, a very good time span for such a large investment, according to Mura. And the crane is not the only thing big in Xu Zhao. Yang Yufen is the president of mining machinery Research Institute at XCMG, the Shu Zhou Construction Machinery Group. He told me that the main reason behind machines getting larger is how the mining business has changed over the past years. Mines are becoming larger as companies continue to consolidate smaller mines. Secondly, large machines can help cut labor cost while improving worker safety. Especially in countries like Australia and Brazil, the demand for larger machines continues to grow year by year. The global market for construction machineries are stagnant growth at the time of COVID-19. Industry reports show that the market starts to warm up after 2021, and the market size is expected to grow to over $180 billion by 20-30. According to a market overview of research reports World China is leading this large and growing market as the largest construction machinery producer, holding a market share of around 46%, followed by North America and Europe. Trading with China makes so much sense and even even in a a climate environment, it's, it's just up north and for us in Perth it's the same time zone. Even so, it's very efficient and the the made in China brand, if you like is is actually a badge of quality. These days. About 20% of XCMG mining machinery are now considered new energy and applies to offer half of its mining machinery line up in new energy. Future technologies like autonomous driving and a remote operating were also showcased before the global buyers in Xu Zhou.