Five Strategic Choices facing China's Construction Machinery Industry
Benefiting from the booming infrastructure investment, the construction machinery industry in China has been enjoying a “golden decade”. However, with the growing needs to transform the economic growth model, the Chinese construction machinery industry is facing increasing pressure and various challenges brought along by the high volume of ownership, limited room for growth and excess capacity. To compete in an uncertain business environment, what are the key considerations for China's construction machinery companies to better position themselves in the market?
Based on practice experience and research on global and local construction machinery enterprises, the report highlights five strategic choices facing China’s construction machinery companies in their strategic decision making:
- Product diversification and product portfolio optimization
- R&D and innovation on key components
- Overall service capability enhancement
- Sales channel innovation
- Internationalization strategy