China's Domestic Excavator Sales Up 57% in January... Utilization Rate Still Low

Excavator sales, a barometer of the construction market, are showing signs of improvement in China. However, the operating rate of construction machinery still did not reach 50%.

According to the China Construction Machinery Industry Association on the 21st, excavator sales in China last month recorded 12,376 units, an 18.5% increase compared to the same period last year. Domestic sales increased by 57.7% to 5,421 units, while exports decreased by 0.73% to 6,995 units.

Previously, last year's sales volume was 195,018 units, a 25.4% decrease compared to the previous year. In particular, domestic sales sharply dropped by 40% to 89,980 units during the same period, attracting attention. This was due to the real estate market slump and funding difficulties faced by developers, which led to a reduction in new construction projects.

Excavators are widely used at construction sites and are the equipment most sensitive to changes in related markets, holding the highest sales proportion among construction machinery types. Their sales volume is regarded as a leading indicator reflecting not only the construction and machinery industries but also the overall economic conditions.

In January, wheel loaders recorded 7,802 units, an 18.9% increase compared to the same period last year. Domestic sales rose by 54.1% to 3,744 units, while exports decreased by 1.79% to 4,058 units.

According to the latest data from the CCTV Financial Excavator Index, the nationwide operating rate of construction machinery in January was 47.81%, an improvement from 40.61% in January last year. However, it still remained below 50%, reflecting an overall sluggish trend. Some regions such as Jiangxi, Anhui, Zhejiang, and Hainan exceeded 70%. In particular, demand for "ice construction" increased in Heilongjiang Province centered around Harbin. In January, the operating volume of crawler cranes in Heilongjiang Province surged by 356.9% compared to the same period last year, ranking first nationwide.

Demand for forklifts also showed strong performance due to improvements in manufacturing, warehousing, and logistics sectors. Last year, cumulative forklift sales reached 1,173,773 units, a 12% increase compared to the previous year. Guolian Securities explained, "The increase in electric forklift sales drove rapid growth," adding, "The export ratio continuously increased last year, maintaining over 70%."

This content was produced with the assistance of AI translation services.