China’s excavator sales rebound in 2024: Strong domestic growth fuels industry recovery

Annual Performance:

According to the China Construction Machinery Association, major manufacturers sold a total of 201,100 excavators in 2024, a year-on-year (YoY) increase of 3.13%, marking the end of a two-year decline.

Domestic sales: 100,500 units, up 11.7% YoY.

Export sales: 100,600 units, down 4.24% YoY.

December Highlights:

In December 2024, excavator sales reached 19,400 units, up 16% YoY, the highest monthly figure since March.

Domestic sales: 9,312 units, up 22.1% YoY.

Export sales: 10,000 units, up 10.8% YoY, surpassing 10,000 units for the first time in the year.

Industry Trends and Outlook:

In terms of the domestic market, infrastructure investments remain robust, with rural and water conservancy projects driving demand.

Electrification efforts accelerate, supported by environmental policies, boosting demand for compact machinery.

Overseas Market:

Despite a slight YoY decline in exports, higher profit margins in overseas markets and strengthened international strategies have increased revenue contributions from global markets.

In 2024, excavator sales showed clear signs of recovery, with synchronized growth in domestic and overseas markets expected to drive future development.

9 Jan 2025 reported by Machinery News