Core Insights - The construction machinery industry in China is experiencing a notable recovery, driven by both domestic demand and overseas export growth, showcasing strong resilience and development potential [4] Group 1: Excavator Sales - In July 2025, a total of 17,138 excavators were sold, representing a year-on-year increase of 25.2% [2] - Domestic sales accounted for 7,306 units, with a year-on-year growth of 17.2%, while exports reached 9,832 units, marking a 31.9% increase [2] - From January to July 2025, total excavator sales reached 137,658 units, up 17.8% year-on-year, with domestic sales at 72,943 units (22.3% growth) and exports at 64,715 units (13% growth) [2] Group 2: Loader Sales - In July 2025, 9,000 loaders were sold, reflecting a year-on-year increase of 7.41% [3] - Domestic sales of loaders were 4,549 units, growing by 2.48%, while exports totaled 4,451 units, up 13% [3] - For the period from January to July 2025, total loader sales reached 73,769 units, a 12.8% increase year-on-year, with domestic sales at 40,171 units (20.4% growth) and exports at 33,598 units (4.85% growth) [3] Group 3: Industry Trends - The construction machinery industry is characterized by a "resonance of domestic and foreign demand" along with "technological upgrades," suggesting a favorable environment for companies with market advantages and proactive overseas strategies [1] - The domestic market is benefiting from infrastructure investments and equipment renewal policies, contributing to a robust demand even in traditionally slower seasons [4] - The export market remains strong, particularly in countries involved in the Belt and Road Initiative, with Chinese products gaining global market share due to their cost-effectiveness and quality service [4]
万联证券：内需回暖+出口扩张双轮驱动 工程机械行业复苏态势明显
智通财经网·2025-09-12 01:43