Domestic demand improves, excavator sales rebound

With the promotion of equipment trade in and the implementation of favorable policies for real estate in various regions, the recovery trend of the construction machinery industry is gradually becoming stronger. According to statistics from the China Construction Machinery Industry Association on major excavator manufacturers, in May 2024, 8518 excavators of various types were sold domestically, a year-on-year increase of 29.2%. Recently, policies favorable to the development of the construction machinery industry have been continuously introduced, catalyzing market expectations and boosting sector growth.

Sales data is improving
Recently, the recovery trend of China's construction machinery industry has become increasingly strong. In May, domestic sales of excavators and loaders both achieved double-digit growth.

According to data from the China Construction Machinery Industry Association, 17824 excavators of various types were sold in May 2024, a year-on-year increase of 6.04%, including 8518 domestic excavators, a year-on-year increase of 29.2%; 9306 units were exported, a year-on-year decrease of 8.92%.

In the first five months of this year, the industry sold a total of 86610 excavators, a year-on-year decrease of 6.92%; Among them, there were 45746 domestic units, a year-on-year increase of 1.81%; Exported 40864 units, a year-on-year decrease of 15.1%.

Since the beginning of this year, the cumulative year-on-year growth rate of domestic excavator sales has turned positive; Meanwhile, the cumulative domestic sales from January to May exceeded the export sales. Industry insiders say that as a barometer of the construction machinery industry, the rebound in domestic excavator sales sends a signal of industry recovery.

In addition, 9824 loaders of various types were sold in May, a year-on-year increase of 8.36%. Among them, the sales volume in the domestic market was 5172 units, a year-on-year increase of 14.3%; The export sales volume was 4652 units, a year-on-year increase of 2.4%. From January to May, a total of 46224 loaders of various types were sold, a year-on-year decrease of 3.78%. Among them, the sales volume in the domestic market was 23617 units, a year-on-year decrease of 7.72%; The export sales volume was 22607 units, a year-on-year increase of 0.7%.

At the same time, the electrification transformation of construction machinery in China is accelerating, with 1250 electric loaders sold in May, an increase of 310 units compared to the previous month.

For the rebound in domestic excavator sales this year, policies that are favorable for the development of the construction machinery industry have been continuously introduced recently. At the same time, construction machinery enterprises are constantly adjusting their product structure, with an increasing proportion of large high-end products and improving product quality. The development expectations are good.