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2. Chinese excavator market to see modest upturn

Sales of hydraulic excavators are expected to total 55,000 units this year, with a modest up-tick to 60,000 machines in 2025, according to Off-Highway Research’s new report, The Hydraulic Excavator Industry in China. Continued weakness in the real estate segment and the high population of machines available following the boom in the pandemic means growth and the volume of sales in subsequent years will also be modest.

Other factors, such as the cost of machines now they have to comply with China Stage IV (CSIV) emissions standards are also pushing contractors towards different approaches, such as buying used equipment, or turning to rental rather than outright ownership. This will lead to a market where there are fewer customers for new machines weilding greater buying power, which will intensify competition in an already tough market for suppliers.

On the positive side, the central Government’s Action Plan for Promoting Large Scale Equipment Upgrade and Consumer Goods Exchange could provide a short-term lift. This scrappage scheme aims to remove older, more polluting equipment from the market and replace it with either electric machines or diesel units complying with CSIV.

Off-Highway Research’s 84 page report on the hydraulic excavator industry in China is now available to subscribers to Off-Highway Research’s Chinese Expert Portfolio. 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.

Contact [email protected] for more details about our reports and subscription packages.