China’s domestic excavator sales surge, boosting industry growth outlook

In July 2024, domestic excavator sales saw a 22% year-on-year increase, marking the fifth consecutive month of positive growth since March. Sales of small excavators surged by over 30% year-on-year, driven primarily by demand from municipal projects and rural water conservancy construction. However, sales of medium excavators declined by 2%, while large excavator sales increased by 5%.

In July, the market share of small excavators decreased from 76% to 71%, while the share of medium and large excavators rose. This shift contributed to an increase in the average selling price within the excavator industry. Analysts projected a 10% overall growth in domestic excavator sales for the entire year of 2024.

14 Aug 2024 reported by Machinery News