A Review of China's Engineering Crane Market in 2008

　　In the first half of 2008, China's engineering crane (mobile crane) industry experienced rapid growth. However, as the global financial crisis erupted and spread in the second half of the year, its impact on China's economy gradually became evident. Consequently, the Chinese crane market began to slow down—and even saw a significant decline—in growth momentum. Nonetheless, when viewed over the full year, the industry still managed to maintain positive growth.

　　According to statistics from the Engineering Crane Branch, sales revenue in 2008 reached 27.27 billion yuan, representing a year-on-year increase of 60.2%. Total profits amounted to 2.61 billion yuan, up 46% from the previous year. A total of 28,000 units of four major crane categories—automobile cranes, crawler cranes, truck-mounted cranes, and tire cranes—were sold, marking a 12.8% rise compared to the previous year.

　　In 2008, approximately 21,500+ mobile cranes— including all-terrain cranes—were sold, representing a 10% year-on-year increase. However, this growth rate marked the lowest in recent years, dropping by 28 percentage points compared to the 2007 pace. While the first half of the year saw robust growth, with sales surging 32% compared to the same period last year, sales began to decline in the second half. By the third quarter, growth nearly stalled at zero, and in the fourth quarter, sales turned negative, falling by 25%. This marked the first instance of negative growth in several years.

　　In 2008, truck-mounted cranes sold 4,600 units, representing a year-on-year increase of 21.5%. Sales in the first half of the year grew by 52% compared to the same period last year. However, growth slowed to just 5% in the third quarter and even turned negative, dropping by 11% in the fourth quarter.

　　In 2008, crawler cranes sold more than 1,600 units, making them the fastest-growing product, with a year-on-year increase of 68.9%. However, by the fourth quarter, the growth rate turned negative.

　　Tire crane sales totaled just 230 units, with the market showing little change.

　　Since 2008, the export volume and sales value of cranes have surpassed previous years, with nearly 5,000 engineering cranes exported—representing a 57% year-on-year increase. Export revenue exceeded 8.2 billion yuan, up 88% compared to the same period last year; however, export volumes in the fourth quarter showed a decline. In 2008, more than 3,400 mobile cranes were exported, marking a 45% rise from the previous year, while crawler crane exports climbed by 136%, reaching over 800 units. Additionally, truck-mounted crane exports grew by 54%, totaling more than 600 units.

　　As the international financial crisis continues to expand and deepen, 2009 is set to be the most challenging year for China's economic development. To counteract this, our government has introduced a series of new policies aimed at boosting domestic demand and ensuring the steady, rapid growth of the national economy. Looking at the situation in February and March of this year, the engineering crane industry has already shown signs of recovery, and everyone is closely monitoring how the market evolves.