In the January-March period this year, China’s excavator output totaled 112,107 units, up 22.8 percent year on year, according to China’s National Bureau of Statistics (NBS).
In March alone, China’s excavator output amounted to 48,427 units, up 26.5 percent year on year.
As previously reported by SteelOrbis, in the January-March period this year China’s excavator sales totaled 73,336 units, up 19.5 percent year on year. In particular, excavator sales to the export markets totaled 33,757 units, up 36.1 percent year on year. Demand for excavators in the One Belt One Road area and emerging markets was strong in the first three months, exerting a positive impact on excavator output.
Excavators are the single product with the highest steel consumption in the construction machinery segment. For every 10 percent increase in excavator production, the corresponding rise in steel consumption for construction machinery is approximately 3.5-4.0 percent.