June Excavator Sales in Domestic Market Reach 7,661 Units, Up 25.6% Year-on-Year
According to statistics from the China Construction Machinery Association (CCMA) on major excavator manufacturers, 16,603 excavators of various types were sold in June 2024, a year-on-year increase of 5.31%. Of these, 7,661 units were sold in the domestic market, up 25.6% year-on-year, and 8,942 units were exported, down 7.51% year-on-year.
Domestic Demand Improvement, Equipment Renewal, and Overseas Opportunities: Construction Machinery Embarks on "Recovery Trilogy"
The upward trend in the construction machinery industry's business outlook seems to be increasingly evident. Recently released data shows that the domestic sales of excavators and loaders in China exceeded expectations in May and June, and the start of construction is also showing signs of recovery. In addition, many institutions point out that under the dual resonance of the double cycle of large-scale equipment renewal and industry self-renewal, 2024 will be the year for the domestic excavator market to bottom out, and the industry is expected to enter an upward cycle in the future. For leading companies, the overseas market is also significant, and there is still great potential for construction machinery to export to overseas.
Total Investment of Major Projects Approved in May 2024 Exceeds 350 Billion Yuan
According to statistics from Suidang Technology•Infrastructure Pass Big Data (cnsuido01), in May 2024, a total of about 30 major railway, highway, and airport projects with an investment of more than 500 million yuan each were approved by the National Railway Group, provincial and municipal development and reform commissions/transportation bureaus/government websites, the Ministry of Natural Resources, the National Development and Reform Commission, and the Ministry of Ecology and Environment. The approved contents include project feasibility study reports, project approvals, construction land use, preliminary designs, construction drawings, etc., with a total project investment of more than 350 billion yuan.
