China’s excavator sales are expected to fall to bottom levels in the January-June period of 2023 and to bottom up in the July-December period of the year, as announced by the China Construction Machinery Association (CCMA).
Currently, China has issued policies to simulate economic development, including the provision of solid support for the real estate industry, which will boost the demand for excavators.
Meanwhile, demand from overseas markets will likely improve further. In the January-November period last year, China exported 98,739 excavators, up 64.9 percent year on year, signaling good demand from the international market, while market players think this situation may continue in 2023.
Moreover, non-road mobile machinery, such as excavators, has been switched from National III emission standards to National IV emission standards as of December 1st 2022, which will likely promote the upgrading of old equipment.
At the same time, the easing of Covid-19 measures may also positively affect downstream industries after the difficult period of mass infections at the beginning of 2023.
As previously reported by SteelOrbis, in December last year excavator sales in China were estimated at 20,000 units, down 17 percent year on year.