From January to November 2024, the cumulative export value of construction machinery products in China reached 47.82 billion US dollars, a year-on-year increase of 7.3%. Among them, exports to the top eleven countries including Russia, the United States, Indonesia, Brazil, and India reached 23.186 billion US dollars, accounting for 48.5%, while Russia, which ranked first, had an export value of 5.791 billion US dollars (almost the sum of the second and third places), accounting for 12.1%.

As is well known, Russia is the country with the largest territorial area in the world and has enormous potential in the field of infrastructure construction; At the same time, Russia is a major energy country with oil, natural gas, and other resources, accounting for over 10% of global oil production. The demand for the application of construction machinery in real estate construction, infrastructure construction, mining and other fields is very strong and continues to grow.
Due to the insufficient strength of local manufacturers, the Russian market was mainly dominated by European and American engineering machinery products. According to Russian media reports, in 2022, the top three engineering machinery companies exporting to Russia will be Komatsu from Japan, Caterpillar from the United States, and JCB from the United Kingdom.

However, influenced by the Russia-Ukraine conflict, in the past two years, European and American construction machinery brands have almost completely withdrawn from the Russian market, while Russian local manufacturers have failed to seize this opportunity. Instead, Chinese brands have begun to rise rapidly. In 2023, the export value of China's construction machinery to Russia reached 6.058 billion US dollars, a year-on-year increase of 66.5%, surpassing the United States to become the largest importer of Russian construction machinery.

As mentioned earlier, in 2024, China's construction machinery exports to Russia will continue to maintain a high performance, but the momentum has eased somewhat. Of course, this is also related to changes in local demand.

According to data released by the Russian Association of Professional Machinery and Equipment Manufacturers (ROSSPETSMASH), in the first half of 2024, excavator sales decreased by 60%, truck cranes decreased by 22%, and small loaders decreased by 14%. According to local professionals' analysis, competition in the Russian market may become even more intense by 2025, especially in the fields of excavators and loaders. TEKHBAZA founders Yevgeny Pavel and Tumanov Alexei believe that 2025 will be more challenging than 2024, as the total sales of new special equipment from all brands will decrease.

The good news is that there are still many potential markets in Russia. In addition to the year-on-year decline in markets such as excavators and truck cranes mentioned earlier, in the first half of 2024, sales of telescopic loaders increased by 2.6 times, excavator loaders increased by 91%, loaders increased by 58%, and crawler bulldozers increased by 25%. Focus on it.

It is also worth noting that from July 1, 2024, Russia will significantly increase the scrap tax on some imported trucks and engineering machinery equipment; At the same time, the Russian government has successively introduced relevant policies to restrict the entry of non local talents from overseas brands, and has introduced or planned a series of national support measures to support localized enterprises.

Overall, Russia is expected to remain the largest overseas market for China's construction machinery exports by 2025. However, with the intensification of competition and the rise of local brands, Chinese construction machinery enterprises will inevitably face increasingly difficult challenges!