China’s metallurgical equipment manufacturing industry: booming development and promising prospects.

In recent years, the rapid development of key sectors of China’s national economy, such as automobiles, shipbuilding, construction, petrochemicals, nuclear power, and oil and gas transportation, has significantly boosted demand in the upstream metallurgical industry, thereby powerfully driving the rapid development of the metallurgical equipment manufacturing industry. The industry itself has continuously improved its technological level, actively promoted the upgrading of standards such as structural optimization and energy conservation and emission reduction, and deeply implemented industrial reforms to eliminate outdated production capacity, resulting in a significant enhancement of the comprehensive technical capabilities and market supply strength of domestic metallurgical equipment manufacturers. Data shows that from 2018 to 2024, the market size of China’s metallurgical equipment manufacturing industry will grow from 103.085 billion yuan to 143.675 billion yuan, with a compound annual growth rate of 5.69%. In the future, with the in-depth implementation of China’s industrial power strategy and the high-quality development and green transformation of the steel and non-ferrous metals industries, the scale of the metallurgical special equipment manufacturing industry will continue to grow. Listed companies such as CITIC Heavy Industries (601608) and Tairui Machinery (002347), as well as related companies such as Dalian Heavy Industry Equipment Group Co., Ltd. and Anhui Maanshan Iron & Steel Surface Technology Co., Ltd., all play important roles in the industry’s development. The metallurgical industry, as the cornerstone of national economic and industrial development, bears the important responsibility of supporting the country’s heavy industry and infrastructure construction. It is not only an important component of the national economy but also a key indicator for measuring a country’s industrial level and technological development. Metallurgical special equipment refers to specialized equipment used in metal smelting, rolling, and deep processing production processes. It can be broadly divided into metal smelting equipment, metal rolling equipment, and other types of specialized equipment. In terms of policy, metallurgical special equipment, as a key area for industrial upgrading, has received intensive policy support from the state in recent years. Policies continue to focus on the large-scale, intelligent, and green transformation of equipment, strengthening the application of digital technologies and standard guidance, aiming to promote the high-end transformation of the metallurgical industry, improve development quality and efficiency, and provide strong support for the development of new quality productivity. For example, in February 2025, eleven departments including the Ministry of Industry and Information Technology issued the “Implementation Plan for High-Quality Development of the Copper Industry (2025-2027),” targeting the digital transformation of copper mining enterprises; in March 2025, ten departments including the Ministry of Industry and Information Technology issued the “Implementation Plan for High-Quality Development of the Aluminum Industry (2025-2027),” promoting the high-end, intelligent, and green development of the aluminum industry. From the perspective of the industrial chain, the upstream of the metallurgical special equipment manufacturing industry chain consists of raw materials and components, the midstream is the production and manufacturing process, and the downstream includes industries such as ironmaking and steelmaking. Steel is one of the core raw materials for the manufacture of metallurgical equipment. China has become the world’s largest producer and consumer of steel, and the steel industry is shifting from pursuing output expansion to focusing on quality improvement. From 2017 to 2024, China’s steel production is projected to increase from 1.05 billion tons to 1.4 billion tons, with a compound annual growth rate of 4.2%. From January to November 2025, China’s steel production is expected to reach 1.333 billion tons, a year-on-year increase of 4%. In the future, the continued growth in steel production and the enhanced supply capacity of high-end materials will provide a better guarantee of raw materials for the downstream metallurgical equipment manufacturing industry. In terms of current development, the metallurgical equipment manufacturing industry is one of China’s important equipment manufacturing industries. In recent years, the domestic metallurgical equipment manufacturing industry has achieved a leap from relying on imported second-hand equipment to independent research and development and integrated innovation, successfully realizing the localization of core equipment for major processes throughout the entire process and achieving technological self-reliance. Production grew rapidly between 2018 and 2019, then declined due to the impact of the pandemic in 2020 and 2021. After 2022, with economic recovery and the release of pent-up demand, production resumed growth, reaching 6.8849 million tons in 2024, a year-on-year increase of 0.63%. Looking ahead, with the progress of the national economy and the metallurgical industry, China’s production of metallurgical equipment is expected to continue its steady growth.