By the end of 2024, my country's machinery industry had 132,000 enterprises above designated size, an increase of 11,000 from the previous year; total assets reached 39.4 trillion yuan, a year-on-year increase of 5.2%, with the growth rate increasing by 0.6 percentage points compared to the previous year. In 2024, the added value of the machinery industry above designated size increased by 6.0% year-on-year, 0.2 percentage points higher than the overall growth rate of the national industry. The annual operating profit margin was 5.2%, a decrease of 0.5 percentage points compared to the same period of the previous year, and 0.2 percentage points lower than the national industrial average.
Industry Chain Structure Analysis
The upstream of the industry chain covers the supply of raw materials and key components, mainly including steel, rubber, plastics, engines, hydraulic systems, bearings, tires, and chassis. The quality and supply stability of raw materials and components directly affect the production efficiency and product reliability of the midstream manufacturing segment.
The midstream is the machinery and equipment manufacturing segment, covering various types of equipment such as conveying machinery and construction machinery. Conveying machinery is widely used in logistics, mining, metallurgy, power, and chemical industries; construction machinery mainly serves infrastructure construction, real estate development, and other major engineering projects. Midstream manufacturers need to continuously introduce advanced technologies and processes to improve product quality and production efficiency in order to adapt to the dynamic demands of the downstream market.
The downstream sector comprises the application areas of machinery and equipment, primarily involving infrastructure construction, real estate, mining, logistics, and manufacturing industries. Changes in downstream market demand directly determine the production and sales strategies of midstream companies. For example, increased infrastructure investment drives demand for construction machinery such as excavators and loaders, while the rapid development of the logistics industry expands the market for conveyor machinery.
