Off-Highway Research’s new study on the Hydraulic Excavator Industry in China forecasts a period of subdued sales following the spike in 2020 and 2021 due to Government stimulus spending. As well as suffering the after-effects of this harp boom & bust in excavator demand, the market is grappling with the economic slowdown caused by China’s renewed Covid lockdowns in the first half of 2022, as well as the fallout from the debt crisis in the real estate segment.
The report said, “The first and foremost reason for the weak demand has been the lack of funding for all construction activities. While the income of local governments has declined considerably because of the weak real estate market and various tax reductions and exemptions, the extra cost caused by the lingering pandemic has been immense. Therefore, despite various investments in infrastructure have been announced across the country, there is little sign that they have actually resulted in fully financed construction work. This situation is unlikely to get better given the financial pressure on both the central and local governments.”
The 80 page report on the hydraulic excavator industry in China is now available to subscribers to Off-Highway Research’s Chinese Service. It is also available to buy on our online store. Click here for details.
It is believed to be the most detailed and in-depth report ever published on the subject, with analysis covering market size, market shares, production, foreign trade, market structure, distribution networks, equipment population, machines available and a five-year forecast.
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