Positive sales data signals recovery in construction machinery industry

The sales data for construction machinery in August shows positive signs, indicating that the industry may return to a prosperous cycle.

According to statistics from the China Construction Machinery Industry Association, a total of 14,647 excavators were sold in August, an 11.8% year-on-year increase, with 6,694 units sold domestically and 7,953 units exported.

SANY Heavy Industry saw growth in the sales of small and medium excavators in the domestic market, while also making positive progress overseas.

Zoomlion’s overseas revenue accounted for 49.10% of its total revenue in the first half of the year, with sales revenue from new energy products reaching approximately CNY 3.5 billion.

XCMG performed well in the Yangtze River Delta market and introduced micro-excavators tailored to niche markets.

Several securities firms are cautiously optimistic about the industry, expecting the construction machinery sector to undergo a recovery cycle.

18 Sep 2024 reported by Machinery News