Since the beginning of the 14th Five-Year Plan period, domestic sales of road roller in China have experienced a significant rebound. The quantity of China's road roller exports from January to October 2023 reached 5,125, showing a year-on-year increase of 1,763, indicating a growth rate of 64.4%. In October 2023, the volume of China's road roller exports reached 450, accounting for 35.2% of the total sales for that month. This marked a year-on-year increase of 110 units, representing a growth of 39.4%. 

The growth of the road roller industry is influenced by several factors:

1.Policy-driven Growth:

The Belt and Road Initiative has encouraged domestic companies to expand  to the international market, strengthening cooperation and trade with neighboring countries. These policies are poised to create new opportunities and challenges for the road roller market. As accelerated development of global economic alongside the rapid urbanization process, there is a heightened demand for infrastructure construction in various countries, consequently leading to an increased need for road rollers.

2.Continuous Technological Innovation:

The road roller industry will continue to advance technological innovation, striving to make products more efficient and intelligent as well environmentally friendly. For instance, it can leverage digital technology to enhance the operational performance and maintenance efficiency of the equipment and to adopt new energy technologies to replace conventional energy sources, thereby reducing equipment consumption and emissions.

3.Intensified International Market Competition:

With the continuous rise and growth of domestic and international companies, competition in the international road roller market is expected to further intensify. Companies need to enhance their core competitiveness by improving product quality, reducing costs, and innovating technologies to enhance their market competitiveness.

Overall, the road roller industry has promising development prospects. In the future, LTMG will strengthen its technological innovation and product upgrades, enhance product quality and service levels to adapt to the continuously changing market demands. Simultaneously, LTMG will further expand its presence in the international market, capitalizing on opportunities for outbound initiatives, consistently enhancing brand influence and increasing market share.

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