Sun Zhe, chief editor of Chinese Construction Machinery and General Secretary of the Organizing Committee of the Global Construction Machinery T50 Summit said at the 2020 Summit held in Shanghai on November 23 that China’s excavator output and sales accounted for 62 percent of the global output and sales in 2019, while this percentage will likely exceed 70 percent in the year of 2020.
According to Mr. Sun, excavator sales of construction machinery manufacturers in Europe, the US and Japan in the January-September period this year indicated sharp declines due to the negative impact of COVID-19 pandemic worldwide, basically exceeding 20 percent, while sales of major Chinese manufacturers generally saw big rises, e.g. exceeding 20 percent.
As previously reported by SteelOrbis, in the January-October period of the year, excavator sales in China amounted to 263,800 units, up 34.5 percent year on year, as announced by the China Construction Machinery Association (CCMA).
Market analysts also stated that excavator sales in the whole year of 2020 will keep a fast growth pace.