Excavator export growth rate returns to normal, construction machinery market rebounds
Created Date: 12th Sep 2024
According to statistics from the China Construction Machinery Industry Association on major excavator manufacturers, 14647 excavators of various types were sold in August 2024, a year-on-year increase of 11.8%. Among them, there were 6694 units domestically, a year-on-year increase of 18.1%; 7953 units were exported, a year-on-year increase of 6.95%.
After 14 months, the year-on-year growth rate of excavator export sales has once again 'returned to normal', and the actual sales data has performed better than the previously predicted data, "said a researcher from Fangzheng Securities.
On September 10th, Sany Heavy Industry disclosed its "recent sales situation", conveying more positive signals. Sany Heavy Industry stated that based on the sales situation in domestic and international markets in August, the domestic market has entered a stable upward trend, while the overseas market is accelerating its recovery.
Sany Heavy Industry stated that based on the market sales situation in August, the overseas market is accelerating its recovery. In August, the company's overseas sales of small excavators increased by 16% year-on-year, medium excavators increased by 32%, and large excavators increased by 63%. Non excavation products such as concrete machinery and lifting machinery continued their high growth rate in the first half of the year.
Overseas emerging markets have become a key force among them.
Sany Heavy Industry highlighted its growth in the African market. From January to August 2024, the company's sales in Africa reached 3.5 billion yuan, an increase of over 60% year-on-year. Since entering the African market in 2002, the company has sold equipment worth over 20 billion yuan and has a total equipment inventory of over 23000 units, ranking first among Chinese construction machinery enterprises exporting products to Africa.
For overseas markets, XCMG Machinery expects the export market to continue to maintain a good trend, and international revenue will maintain good growth. Overall, the overseas sales of domestic brands are expected to maintain a growth trend and are an important growth point for the construction machinery industry
China's leading construction machinery enterprises are upgrading from "product going global" to "production capacity going global".
In recent years, Sany Heavy Industry's overseas revenue has continued to grow. In the first half of this year, the company achieved overseas sales revenue of 23.542 billion yuan, accounting for 62.23% of its main business revenue.
Sany Heavy Industry stated that the company continues to promote the globalization of production and manufacturing. In the first half of this year, the expansion of the second phase of the Indonesian factory was completed, and the construction of the second phase of the Indian factory and the South African factory is proceeding in an orderly manner.
It is worth noting that the construction machinery industry is experiencing a simultaneous rise in both domestic and international markets.
Sany Heavy Industry announced that according to the latest situation, the domestic market has also entered a stable upward channel. The company's small digging products have achieved continuous growth for six months this year, and the growth rate has accelerated month by month. The products of medium and large digging have also stabilized and rebounded. In August, the sales volume of domestic small excavators increased by 51% year-on-year, medium excavators increased by 44%, and large excavators remained stable; Non excavation products such as concrete machinery and lifting machinery have a narrower reduction in decline.
It is expected that the overall economic operation of the construction machinery industry in the second half of the year will continue to maintain a stable recovery and progress. In the long run, the construction machinery industry will show a stable and positive trend, "said Su Zimeng, President of the China Construction Machinery Industry Association.
After 14 months, the year-on-year growth rate of excavator export sales has once again 'returned to normal', and the actual sales data has performed better than the previously predicted data, "said a researcher from Fangzheng Securities.
On September 10th, Sany Heavy Industry disclosed its "recent sales situation", conveying more positive signals. Sany Heavy Industry stated that based on the sales situation in domestic and international markets in August, the domestic market has entered a stable upward trend, while the overseas market is accelerating its recovery.
Sany Heavy Industry stated that based on the market sales situation in August, the overseas market is accelerating its recovery. In August, the company's overseas sales of small excavators increased by 16% year-on-year, medium excavators increased by 32%, and large excavators increased by 63%. Non excavation products such as concrete machinery and lifting machinery continued their high growth rate in the first half of the year.
Overseas emerging markets have become a key force among them.
Sany Heavy Industry highlighted its growth in the African market. From January to August 2024, the company's sales in Africa reached 3.5 billion yuan, an increase of over 60% year-on-year. Since entering the African market in 2002, the company has sold equipment worth over 20 billion yuan and has a total equipment inventory of over 23000 units, ranking first among Chinese construction machinery enterprises exporting products to Africa.
For overseas markets, XCMG Machinery expects the export market to continue to maintain a good trend, and international revenue will maintain good growth. Overall, the overseas sales of domestic brands are expected to maintain a growth trend and are an important growth point for the construction machinery industry
China's leading construction machinery enterprises are upgrading from "product going global" to "production capacity going global".
In recent years, Sany Heavy Industry's overseas revenue has continued to grow. In the first half of this year, the company achieved overseas sales revenue of 23.542 billion yuan, accounting for 62.23% of its main business revenue.
Sany Heavy Industry stated that the company continues to promote the globalization of production and manufacturing. In the first half of this year, the expansion of the second phase of the Indonesian factory was completed, and the construction of the second phase of the Indian factory and the South African factory is proceeding in an orderly manner.
It is worth noting that the construction machinery industry is experiencing a simultaneous rise in both domestic and international markets.
Sany Heavy Industry announced that according to the latest situation, the domestic market has also entered a stable upward channel. The company's small digging products have achieved continuous growth for six months this year, and the growth rate has accelerated month by month. The products of medium and large digging have also stabilized and rebounded. In August, the sales volume of domestic small excavators increased by 51% year-on-year, medium excavators increased by 44%, and large excavators remained stable; Non excavation products such as concrete machinery and lifting machinery have a narrower reduction in decline.
It is expected that the overall economic operation of the construction machinery industry in the second half of the year will continue to maintain a stable recovery and progress. In the long run, the construction machinery industry will show a stable and positive trend, "said Su Zimeng, President of the China Construction Machinery Industry Association.