Infrastructure stimulus projects spur recovery of construction machinery industry, bringing end to negative growth

In January this year, China’s excavator sales were up 18.5% year on year, according to statistics for major excavator manufacturing enterprises issued by the China Construction Machinery Association (CCMA).

In 2023, China’s total sales of excavators to both domestic and overseas markets dropped by 25.4% on year. The annual sales growth rate has been declining for two consecutive years. However, in January this year, excavator sales in the Chinese domestic market were up 57.7% year on year, indicating further expansion from the previous month.

In 2024, China’s infrastructure construction, real estate, and other sectors may stabilize and even show signs of improvement. As a result, the construction machinery industry is likely to achieve steady growth or experience a slight decline.

Meanwhile, Chinese construction machinery manufacturers have achieved significant growth in overseas markets.

20 FEB 2024 reported by Machinery News