In recent years, driven by industries such as mining, cement, transportation construction, metallurgy, chemicals, power, water conservancy, and real estate, China's crushing and grinding equipment industry has experienced rapid growth. Chinese crushing and grinding equipment companies have achieved a qualitative leap in production capacity, economic strength, product technology, and management level, making significant strides in the international market. In 2008, the Chinese market surpassed North America to become the world's largest market for mining machinery sales. In 2010, China's mining machinery output accounted for 50% of the world's total output, with crushers and ball mills leading the way.
In 2010, large-scale infrastructure construction was in full swing, strongly promoting the development of the crushing and grinding equipment industry. In 2010, China's crushing and grinding equipment industry achieved a total industrial output value of 71.711 billion yuan, a year-on-year increase of 30.53%; sales revenue of 71.014 billion yuan, a year-on-year increase of 32.38%; and total profits of 4.993 billion yuan, a year-on-year increase of 50.10%. It is projected that the industry's sales revenue in 2011 will increase by more than 15% compared to 2010, exceeding 81.666 billion yuan. By 2015, the industry's sales scale is expected to reach 150 billion yuan, with both sales revenue and export volume more than doubling compared to 2010.
China's crushing and grinding equipment industry has fully developed into a highly competitive sector. According to relevant data, as of the end of 2010, there were 431 large-scale crushing and grinding equipment enterprises in China. After a period of rapid development and intense market competition, a basic structure has been initially formed. However, the industry has also accumulated problems during its development, including weak independent innovation capabilities, high dependence on foreign-made basic components, relatively lagging development of high-end product technology, and weak market expansion capabilities. Enterprises in the industry are mainly concentrated in the low-to-mid-end product market, leading to fierce market competition in this area. Meanwhile, the high-end product market is basically monopolized by foreign companies. This irrational industry structure has significantly hindered the development of the industry itself and its enterprises.