China’s excavator sales rebound in 2024, signaling industry recovery amid domestic growth

Domestic Recovery:
China’s excavator sales reversed a three-year decline in 2024, reaching 201,131 units, up 3.13% year-on-year. Among them, domestic sales rose 11.7% to 100,543 units, while exports fell 4.24% to 100,588 units.

Industry Trends:
Positive growth in domestic sales began in March 2024, with overseas sales rebounding in November and December. The industry is cyclical, influenced by infrastructure, real estate, and policy factors.

December 2024 Performance:
Excavator sales hit 19,369 units, up 16% year-on-year. Domestic sales grew 22.1%, and exports rose 10.8%.

Drivers of Growth:
Domestic demand was fueled by water conservancy and mining projects. Export recovery was driven by inventory reductions and improved demand in regions like Indonesia.

Outlook:
Domestic excavator sales are expected to grow by around 10% in 2025, with export declines narrowing. Infrastructure investment and policy support are likely to sustain industry recovery.

Summary:
China’s construction machinery industry showed signs of recovery in 2024, with domestic excavator sales rebounding after three years of decline. Growth is expected to continue in 2025, supported by infrastructure projects and policy measures.

12 Feb 2025 reported by Machinery News