“The crawler excavator market has remained subject to a high level of demand during the first half of 2023, with sales rising by around 17 per cent compared to the equivalent period in the previous year. It should be noted, however, that demand has been artificially sustained to a large extent by the delayed deliveries of machines caught up in the order backlog from 2022. Significantly, the level of new orders received in the first half of 2023 has fallen by nearly 20 per cent, particularly for excavators above 20 tonnes, and many suppliers now expect that retail sales will undergo a decline in the final quarter of the year,” said the report.
“Off-Highway Research believes that a modest consolidation in demand is likely to take place in 2024, although some suppliers believe that sales volumes could decline by up to 10 per cent. Whilst many observers believe the market is now overheated, significant ongoing investment in the construction, landscaping and digital infrastructure sectors will continue to underpin a high level of demand for midi and standard size excavators in the medium to long term, although the current decline in the housebuilding sector may have a detrimental impact in the short term on sales of midi excavators to the landscaping industry,” it added.
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