Global equipment sales boosted by China stimulus: Off-Highway Research
Equipment

Global equipment sales boosted by China stimulus: Off-Highway Research

Management consultancy specialists, Off-Highway Research, has determined that the rise in global construction equipment sale rates in 2020 from its previous values is in response to large-scale spending stimulus implemented by China.

The Chinese government had introduced some stimulus measures to restore the economy after the Covid-19 pandemic as construction works are mostly considered vital across the globe.

During the pre-pandemic era, Off-Highway foretold that the equipment sales might face a downfall after its rise in the two consecutive years before. The construction equipment sales were assumed to hit a roughly 5% drop. By introducing huge investments the market rose to a 30% hike from the already steadily increasing levels from 2019.

By incorporating compaction equipment, the construction equipment sales jumped to 412,000 units and beyond along with an increase of 480,000 units by including mobile cranes.

The construction works in China had bloomed amidst the Covid-19 pandemic along with the other markets from various parts of the world due to the constant efforts in continuing the projects even during a crisis.

The launching of stimulus and continuing construction work even during the pandemic has boosted China's sales rates in 2020 from the predictions made.

Image Source


Also read: China ramps up attempts to control soaring prices of Iron ore

Also read: China looks to reduce steel production volume

Management consultancy specialists, Off-Highway Research, has determined that the rise in global construction equipment sale rates in 2020 from its previous values is in response to large-scale spending stimulus implemented by China. The Chinese government had introduced some stimulus measures to restore the economy after the Covid-19 pandemic as construction works are mostly considered vital across the globe. During the pre-pandemic era, Off-Highway foretold that the equipment sales might face a downfall after its rise in the two consecutive years before. The construction equipment sales were assumed to hit a roughly 5% drop. By introducing huge investments the market rose to a 30% hike from the already steadily increasing levels from 2019. By incorporating compaction equipment, the construction equipment sales jumped to 412,000 units and beyond along with an increase of 480,000 units by including mobile cranes. The construction works in China had bloomed amidst the Covid-19 pandemic along with the other markets from various parts of the world due to the constant efforts in continuing the projects even during a crisis. The launching of stimulus and continuing construction work even during the pandemic has boosted China's sales rates in 2020 from the predictions made. Image SourceAlso read: China ramps up attempts to control soaring prices of Iron ore Also read: China looks to reduce steel production volume

Next Story
Infrastructure Urban

NABARD Approves Rs 9.03 Billion for 127 Projects in Himachal

The Himachal Pradesh government has secured approval from the National Bank for Agriculture and Rural Development (NABARD) for 127 projects worth Rs 9.03 billion for the 2024-25 fiscal, Chief Minister Sukhvinder Singh Sukhu announced. During a meeting with MLAs from Kangra, Kullu, Kinnaur, Solan, Chamba, Bilaspur, and Lahaul-Spiti districts to discuss priorities for the 2025-26 budget, Sukhu said the approved projects include 50 MLA-priority schemes under the Public Works Department, valued at Rs 4.12 billion, and 23 MLA-priority schemes under the Jal Shakti Vibhag, costing Rs 1.79 billio..

Next Story
Infrastructure Transport

6th Open Web Girder Launched for Mumbai-Ahmedabad Bullet Train

M G Contractors Pvt. Ltd. (MGCPL) has successfully launched the sixth open web girder (OWG) bridge for the 508.17 km Mumbai-Ahmedabad High-Speed Rail (MAHSR) project. The 100-meter-long steel bridge for GAD-12, part of MAHSR’s Package P1(B), was installed over the Western Railways’ Baroda-Surat line and the Western Dedicated Freight Corridor (WDFC) in Gujarat. The launch site, located between Sayan and Kim near Surat, lies between MAHSR’s chainage KM 285+927m and KM 286+007m. Standing 12.5 meters tall and 14.3 meters wide, the 2,000 MT bridge was positioned using rollers and hy..

Next Story
Infrastructure Urban

Atishay Wins Rs 1.95 Million Smart Classroom Order in Himachal Pradesh

Atishay Limited has been awarded a Rs 1.95 million contract (inclusive of all taxes) by the Technical Education Department of Himachal Pradesh for the integration of a Smart Classroom at the Government College of Pharmacy, Ghorab, Kangra. As the designated System Integrator, Atishay will implement advanced educational technologies, including interactive learning tools, digital connectivity solutions, and seamless system synchronization to create a technology-driven learning environment. This project follows the company’s recent Smart Classroom integration at the Principal Governmen..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?