According to the latest statistics of China Construction Machinery Industry Association, in September this year, 25 excavator manufacturers included in the statistics sold 26000 excavators of all kinds, up 64.8% year on year. Among them, the domestic sales volume was 22600, up 71.4% year on year; 3436 sets were exported, up 31.3% year on year.

In the first nine months of this year, a total of 236500 excavators were sold in China, an increase of 32% year on year, which has exceeded the sales of the whole year last year. Among them, the domestic sales volume was 212800 units, up 33.2% year on year; 23700 sets were exported, up 22.2% year on year.

This means that the sales of domestic excavators will hit a new record this year.

In 2019, the sales of domestic excavators reached 235700 units, up 15.9% year on year, breaking the sales record of 203000 units in 2018.

Since this year, the year-on-year growth rate of monthly excavator sales has exceeded 50% for six consecutive months.

In January and February, affected by the COVID-19, the sales volume of domestic excavators declined sharply, but after March, the double-digit growth was achieved against the trend, and after April, the sales growth continued to exceed 50%.

In April, 25 excavator manufacturers included in the Association's statistics sold 45400 excavators of all kinds, with a year-on-year growth rate of 59.9%; In May, the sales of excavators still maintained a good momentum, reaching 31700 units, with a year-on-year growth rate of 68%.

In June, the sales volume of excavators was 24600, up 62.9% year on year; The sales volume of excavators in July was 19100, up 54.8% year on year; In August, the sales volume of excavators was 209 thousand, up 51.3% year on year.

Many institutions predicted that under the influence of a number of favorable policies, the construction machinery industry will maintain a high outlook.

The construction machinery industry is one of the important industries in China's machinery industry. Its product market demand is greatly affected by the national infrastructure construction, and its downstream customers are mainly concentrated in infrastructure, real estate and other investment-intensive industries, which are closely related to the macroeconomic cycle.

The sales manager of excavators in Shandong Province once told Interface News that the current tightening of environmental policies is a major factor affecting the recent surge in excavator sales.

Since this year, domestic excavators have implemented the fourth national emission standard. GF Securities once estimated that among the domestic excavator holdings, there are about 800000 in the first and second emission standards. If all of these machines are eliminated in the next five years, the average annual replacement volume will reach about 160000, and the demand for replacement is still relatively strong.

Soochow Securities pointed out that in October, the production scheduling of construction machinery core parts manufacturers increased by more than 40% year on year, still showing a high growth rate. With the arrival of the fourth quarter of the stock season and the gradual emergence of the effect of infrastructure recovery, it is expected that the sales of excavators will continue to maintain a strong trend.

Soochow Securities said that under the background of the continuous demand for the renewal of old excavators, the improvement of the replacement effect of excavators on loaders, and the non-pessimistic investment in real estate infrastructure, the annual sales of excavators in China is expected to reach more than 300000, with a year-on-year increase of more than 30%.

Galaxy Securities pointed out that with the gradual easing of the epidemic and the gradual recovery of the economy, the market's expectation of the reverse cycle of infrastructure investment has weakened, but from the perspective of forward-looking indicators, the sales growth of excavators and heavy trucks is still strong. Under the background of accelerated construction of major projects in the second half of the year, it is expected that the infrastructure investment in the second half of the year will further develop.

According to TianyanchaAPP data, in the past decade, the number of excavator-related enterprises (all enterprises) in China has increased from 10000 to 56000, an increase of nearly five times, and the number of new enterprises has increased year by year.