Mei Ri Jing Ji Xin Wen·2025-08-12 03:32Core Insights - The domestic excavator industry in China is experiencing steady growth, with July sales reaching 17,138 units, a year-on-year increase of 25.2% [1] - Domestic sales for the first seven months of the year totaled 73,306 units, up 17.8% year-on-year, indicating a robust market demand [1] - The industry is expected to maintain a stable growth trajectory over the next three years, driven by favorable policies and a new growth cycle [1][4] Domestic Market Performance - In July, domestic excavator sales were 7,306 units, reflecting a year-on-year growth of 17.2% [1] - The average working hours for excavators in July were 66.1 hours, with a utilization rate of 56.7% [1] - The first seven months of 2023 saw a total of 137,658 excavators sold, with domestic sales growing by 22.3% [1] Export Market Dynamics - The export volume of excavators reached 9,832 units in July, marking a 31.9% increase year-on-year [1] - The export trend is expected to remain positive, with projections of 100,000 to 120,000 units exported annually over the next three years [3] - The demand for excavators in Southeast Asia, Africa, and the Middle East is increasing, while challenges such as U.S.-China tariff uncertainties persist [2][3] Industry Outlook - The engineering machinery sector is benefiting from large infrastructure projects, which are expected to boost orders for companies like Hengli Hydraulic [4][6] - The mining sector is projected to drive demand for large excavators, with fixed asset investment in mining expected to grow by 10.5% in 2024 [5] - Major projects like the Yarlung Tsangpo River hydropower project, with an investment of approximately 1.2 trillion yuan, are anticipated to significantly increase equipment demand [5][6] Technological Advancements - Companies are focusing on international expansion and enhancing product quality to improve competitiveness in global markets [2][3] - The shift towards electric and unmanned equipment is being accelerated by projects in remote areas where fuel supply is challenging [6]