​China's excavator sales maintain 50-odd pct growth for seven consecutive months

A farmer fixes an excavator at home in Shangbao Village, Ganzhou City of east China's Jiangxi Province, Sept. 10, 2020. (Xinhua/Wan Xiang)

BEIJING, Nov. 11 (Xinhua) -- China's excavator sales have maintained a year-on-year increase of 50-odd percent for seven consecutive months, reported www.stcn.com Tuesday.

Data from the China Construction Machinery Association (CCMA) showed that in October this year, the 25 excavator main engine makers included in the statistics had sold 27,331 sets of various excavation machinery products in total, up 60.5 percent year on year, with domestic market sales and export sales rising by 60.7 percent and 59.4 percent to 23,892 sets and 3,439 sets, respectively.

In October, the sales of medium-sized excavators achieved the highest growth, reaching 96.7 percent year on year to 6,476 sets. The export sales growth in October hit the peak among that of each past month this year, and many insiders of the construction machinery industry said that the excavator export is likely to be stable throughout the year.

Data also showed that from January to October this year, the excavation machinery products sold by the above-mentioned 25 firms had increased by 34.5 percent year on year to 263,839 sets, with 236,712 sets going to the domestic markets, up 35.5 percent year on year, while 27,127 sets exported, up 25.9 percent year on year.

Affected by the COVID-19 pandemic, China's excavator sales fell sharply in the first two months this year, and its growth began to turn positive in March. Since April this year, the excavator sales have grown rapidly, keeping a growth rate exceeding 50 percent for seven consecutive months.

Judging from the current development trend, China's annual excavator sales will exceed expectations.

Industrial participants are optimistic about the continuous boom of the construction machinery industry.

According to China's leading machinery equipment maker Sany Group, with the implementation of a number of major projects in the fourth quarter, the construction machinery industry is expected to continue the growth momentum. (Edited by Gu Shanshan with Xinhua Silk Road, gushanshan.1987@163.com)