Construction machinery industry expected to get out of downward cycle
According to excavator sales data disclosed by the China Construction Machinery Association, about 21,000 excavators of all types were sold in September, increasing by 5.5% year on year.
After turning positive for the first time in July from the past 14 months, excavator sales growth has remained in positive territory for three consecutive months. Exports of excavators in September rose by 73.3% year on year.
It is worth mentioning that the excavator export volume in September exceeded the domestic sales volume. The excavator export volume in September was 10,700 units, 147 units higher compared with the domestic sales volume.
In the first nine months of this year, excavator exports totaled 80,300 units, accounting for 40% of the total excavator sales. In 2021, excavator exports totaled 68,400 units, accounting for 20% of the total excavator sales.
Considering the above situation, the sale volume, investment, and technology input of construction machinery in 2022 will not be worse than that in 2021.
By 2023, with the construction of new infrastructure, the Belt and Road, and other facilities, the domestic construction machinery will usher in a small growth phase, gradually out of the downward cycle.
3 Nov 2022 reported by Machinery News