Excavator exports in 2021

In terms of import and export markets, the cumulative sales volume in the domestic market from January to May 2021 was 176,735 units, an increase of 31.7% year-on-year, accounting for 88%; the cumulative export sales volume was 23,998 units, an increase of 106% year-on-year, accounting for 12%. Overall, the sales of excavators are dominated by domestic sales, accounting for 88%, but the growth of the foreign market is higher than that of the domestic market.

From the perspective of sales in the domestic market segments, from January to May 2021, the total domestic sales of large, medium and small excavators were 19,420, 51,950, and 105,365 units, accounting for 11%, 29%, and 60%, respectively. On the whole, small excavators under 18.5 tons accounted for the largest proportion and continued to lead the market.

From the perspective of monthly sales changes in the export market, from January to May of 2021, they continued to grow significantly year-on-year, which is in sharp contrast with the decline in domestic market growth. Among them, export sales from March to May showed strong performance, with a year-on-year growth rate of more than 130%. With the acceleration of the globalization of domestic brands, the export market of local excavator companies is expected to grow further.

Global infrastructure warming drives export growth

According to information from the Ministry of Commerce, from January to April 2021, my country's foreign contracted projects have many new major projects, and they are concentrated in transportation, power engineering and other fields. There are 242 projects with newly signed foreign contracted projects with a contract value of more than 50 million U.S. dollars. This is an increase of 12 over the same period in 2020, with a total of 61.04 billion US dollars, accounting for 85.4% of the total amount of newly signed contracts, of which investment in countries along the Belt and Road has increased by 14%. The rising demand for global infrastructure has driven my country's excavation machinery export market to improve.