Core Viewpoint - The excavator industry serves as a key indicator for infrastructure construction and fixed asset investment, with the latest data from the "CCTV Financial Excavator Index" showing a month-on-month increase in average operating rates and workload in October despite holiday impacts [1][3]. Summary by Sections National Overview - In October, the national average operating rate for construction machinery was 45.56%, an increase of 1.4% month-on-month, with a workload growth of 5.25%. The new orders index for the construction industry was at 45.9%, up by 3.7 percentage points from the previous month [3]. Provincial Performance - The top ten provinces by operating rate included Zhejiang, Anhui, Beijing, Hainan, Jiangxi, Liaoning, Jilin, Qinghai, Ningxia, and Hebei. Additionally, 19 provinces had operating rates exceeding 50%, and 22 provinces saw a month-on-month increase in workload [3]. Equipment Performance - The operating rate for lifting equipment was 70.74%, leading among various equipment categories. The operating rate for truck cranes was 75.81%, indicating a significant focus on large equipment installation and project completion in October [8]. Excavator Insights - Excavator operating rates saw the highest month-on-month increase among all equipment categories, rising by 2.15%. The central region had an excavator operating rate of 56.6%, indicating a surge in new project initiations [10]. Regional Highlights - The central region's comprehensive operating rate was 50.43%, with ongoing projects in electronics, automotive manufacturing, high-end equipment, green energy, and logistics. Notably, the workload for stackers in Hunan surged by 225.36% year-on-year [12]. - The northeastern region had a comprehensive operating rate of 49.46%, with road equipment leading at 56.35% and notable year-on-year increases in various equipment categories [14]. - The western region's comprehensive operating rate was 49.22%, with lifting equipment at 78.35%, and significant year-on-year increases in workload for various equipment types [16]. - The eastern region's comprehensive operating rate was 46.14%, with concrete equipment leading at 46.74%, and substantial year-on-year increases in workload for specific equipment [18]. Industry Trends - The article discusses the potential recovery of the construction machinery industry, with expectations of improved operating rates and demand in the coming months [19][22].

Core Viewpoint - The article highlights the robust growth in China's infrastructure investment and the corresponding increase in sales of construction machinery, particularly excavators and loaders, indicating a positive economic outlook for the industry [1][2]. Infrastructure Investment Trends - In the first half of the year, infrastructure investment across the country showed a "blossoming" trend, with six provinces maintaining an operating rate above 50% for six consecutive months [2][4]. - The average operating rate for engineering machinery in the first half of 2025 was 44.81%, with a quarter-on-quarter increase of 4.62% in the second quarter [3]. Regional Performance - Six provinces, including Anhui, Fujian, Henan, Jiangxi, Zhejiang, and Chongqing, led the way with operating rates exceeding 50%, particularly in East and South China [4]. - Fifteen provinces reported increased operating rates compared to the same period last year, indicating a higher level of infrastructure activity and project execution [5]. Equipment Utilization - In the first half of 2025, the average operating rate for hoisting equipment was 66.87%, the highest among all equipment categories, with top-performing provinces including Anhui, Hubei, and Jiangxi [6][7]. - The central region had the highest average operating rate at 50.13%, with Anhui leading at 66.24% [8]. Western and Northeastern Developments - The western region's operating rate was 48.45%, benefiting from the "Belt and Road" initiative, with significant increases in the workload of specific equipment types [9]. - The northeastern region showed a recovery with an operating rate of 45.68%, particularly strong performance in stackers and crawler cranes [10]. Eastern Region Insights - The eastern region's operating rate was 45.58%, with concrete equipment leading in utilization rates [11].

Group 1 - In the first half of 2025, infrastructure investment across the country showed a "blossoming" trend, providing continuous momentum for economic development, with an average construction machinery operating rate of 44.81% [1] - The operating rate in the second quarter was 47.1%, an increase of 4.62% compared to the first quarter, with 15 provinces exceeding an average operating rate of 50% [1] - Six provinces, including Anhui, Fujian, Henan, Jiangxi, Zhejiang, and Chongqing, maintained a comprehensive operating rate above 50% for six consecutive months, indicating strong performance particularly in East and South China [1] Group 2 - In the first half of 2025, the average operating rate of lifting equipment was 66.87%, ranking first among various types of equipment [1] - In June 2025, sales of various aerial work vehicles reached 539 units, a year-on-year increase of 153%, with domestic sales of 509 units up by 147% and exports of 30 units up by 329% [1] - From January to June 2025, a total of 2,445 aerial work vehicles were sold, representing a year-on-year growth of 27.9%, with domestic sales of 2,312 units increasing by 25% and exports of 133 units rising by 115% [1] Group 3 - In June 2025, sales of various forklifts reached 137,570 units, a year-on-year increase of 23.1%, with domestic sales of 83,892 units up by 27.3% and exports of 53,678 units up by 17.2% [2] - From January to June 2025, a total of 739,334 forklifts were sold, reflecting a year-on-year growth of 11.7%, with domestic sales of 476,382 units increasing by 9.79% and exports of 262,952 units rising by 15.2% [2] - Major engineering machinery companies such as SANY Heavy Industry, XCMG, Zoomlion, and Liugong have continued to see steady growth in overseas markets, with overseas sales accounting for nearly or exceeding 50% [2]

Core Insights - In the first half of 2025, national infrastructure investment showed a "blossoming" trend, with an average construction rate of 44.81% for engineering machinery, and a second-quarter rate of 47.1%, reflecting a 4.62% increase from the first quarter [1][4] Group 1: Regional Performance - Six provinces, including Anhui, Fujian, Henan, Jiangxi, Zhejiang, and Chongqing, maintained a construction rate above 50% for six consecutive months, indicating robust infrastructure investment, particularly in East and South China [4][5] - The average construction rate for 15 provinces increased compared to the same period last year, showcasing higher activity levels in infrastructure projects, which supports local economic stability and development [5][8] Group 2: Equipment Utilization - In the first half of 2025, the average construction rate for hoisting equipment was 66.87%, the highest among all equipment categories, with top-performing provinces including Anhui, Hubei, and Jiangxi [7][8] - The central region had the highest overall construction rate at 50.13%, with Anhui leading at 66.24%, followed by Jiangxi and Henan [8][9] Group 3: Regional Highlights - The western region's construction rate was 48.45%, benefiting from the "Belt and Road" initiative, with significant projects in energy and transportation [11] - The northeastern region showed a construction rate of 45.68%, with notable increases in the utilization of stackers and crawler cranes, indicating a recovery in economic activity [13] - The eastern region's construction rate was 45.58%, with concrete equipment leading in utilization, reflecting strong demand for construction activities [15]

Core Insights - In the first half of the year, national infrastructure investment showed a "blooming" trend, providing continuous momentum for economic development [1] - The average operating rate of construction machinery nationwide was 44.81%, with a second-quarter rate of 47.1%, reflecting a quarter-on-quarter increase of 4.62% [1] - Fifteen provinces reported an average operating rate exceeding 50%, with six provinces (Anhui, Fujian, Henan, Jiangxi, Zhejiang, and Chongqing) maintaining a comprehensive operating rate above 50% for six consecutive months [1] Equipment Performance - Among major equipment categories, the average operating rate of lifting equipment was 66.87%, ranking first among all equipment types [1]

Core Viewpoint - The excavator industry is a key indicator of infrastructure construction and fixed asset investment trends in the economy, with significant growth observed in sales and operational rates in the first quarter of the year [1][2]. Group 1: Sales and Operational Data - In Q1, a total of 61,372 excavators were sold, representing a year-on-year increase of 22.8%, with domestic sales at 36,562 units (up 38.3%) and exports at 24,810 units (up 5.49%) [1]. - The average operational rate of engineering machinery nationwide was 44.67%, an increase of 1.62% year-on-year, with 12 provinces exceeding a 50% operational rate [2]. - The lifting equipment category showed the highest performance with an average operational rate of 66.28% in Q1, indicating concentrated activity in infrastructure projects [3]. Group 2: Regional Performance - The central region led with an average operational rate of 48.24%, driven by policy incentives and major project investments, with lifting equipment operational rates at 70.49% [5]. - The eastern region's average operational rate was 44.70%, with significant growth in concrete equipment and notable increases in specific equipment types like stackers and pile drivers [7]. - The western region reported an operational rate of 43.39%, with several equipment types achieving the highest year-on-year growth rates, such as pump trucks and pavers [8]. Group 3: Equipment Performance - In Q1, port equipment like stackers and front lifts saw substantial growth, with stackers increasing by 28.65% and front lifts by 9.92% year-on-year, indicating a positive trend in foreign trade [4]. - Specific equipment in the central region, such as crawler cranes and excavators, showed remarkable growth rates of 111.02% and 15.23% respectively, leading their categories nationally [5]. - The eastern region's stackers and pile drivers also exhibited impressive growth, with increases of 176.35% and 114.47% respectively in March [7].

央视财经与三一重工、树根互联联合打造的 "央视财经挖掘机指数" 今天发布了最新相关数据。今年一 季度，工程机械行业迎来传统开工及销售旺季。数据显示，1至3月，销售挖掘机61372台，同比增长 22.8%；其中国内销量36562台，同比增长38.3%，出口24810台，同比增长5.49%。正面吊、堆高 机总工作时长同比大涨，港口设备繁忙，我国各项基础设施建设加速推进，展现出向新、向好的开局态 势。 挖掘机是基础设施建设的"标配"，是反映基础设施建设、观察固定资产投资等经济变化的风向标。 基建"春耕图"出炉：一季度12省份开工率超50%！ 一季度，港口设备中堆高机季度同比增长28.65%，正面吊同比增长9.92%，超过其他细分设备。其 中，重庆堆高机一季度总工作时长同比增长22.83%，位居同类设备同比增幅全国第一；广西正面吊总 工作时长同比增长36.72%、青海正面吊总工作时长同比增长31.81%，均位居正面吊同比排名Top5。 堆高机和正面吊主要用于集装箱的物流搬运，西部地区这两项设备总工作时长同比大幅度提升，说明地 区一季度外贸发展势头良好。 一季度全国工程机械平均开工率为44.67%，同比上涨1.62%。 ...

全国工程机械平均开工率同比增长1.62% "挖掘机指数"折射一季度中国经济起步稳后劲足 《经济参考报》记者日前获悉，三一重工基于树根互联工业互联网平台打造的"挖掘机指数"显示， 今年 一季度全国工程机械平均开工率为44.67%，较去年同期增幅为1.62%，12个省份平均开工率超过50%。今年3 月全国工程机械开工率为53.16%，环比2月上升18.06%，折射出一季度中国经济起步稳、后劲足。 数据显示，今年一季度吊装设备表现最为突出，平均开工率为66.28%，其中，3月吊装设备开工率为 72.53%。树根互联挖掘机指数数据专家刘俊介绍，吊装设备常用于大型设备安装、结构吊装等项目收尾环 节，其开工率高说明更多基建项目在整个一季度集中进行设备调试、主体结构封顶等收尾工作。 在今年一季度可统计样本总工作时长方面，堆高机同比增长28.65%，正面吊同比增长9.92%，超过其他细 分设备。其中，重庆堆高机一季度总工作时长同比增长22.83%，位居同类设备同比增幅全国首位；广西、青 海正面吊总工作时长分别同比增长36.72%、31.81%。 "堆高机和正面吊主要用于集装箱的物流搬运，总工作时长同比大幅度提升，说明西部地区 ...

Core Viewpoint - The "Excavator Index" indicates a stable start and strong momentum for China's economy in the first quarter, with an average operating rate of construction machinery increasing by 1.62% year-on-year [2]. Summary by Sections National Overview - The average operating rate of construction machinery in China for Q1 was 44.67%, showing a year-on-year increase of 1.62%. In March, the operating rate rose to 53.16%, up 18.06% from February, reflecting a solid economic recovery [2]. Equipment Performance - Lifting equipment showed the best performance with an average operating rate of 66.28% in Q1, and 72.53% in March. This high rate indicates that many infrastructure projects were in the final stages of equipment debugging and structural completion [4]. - In terms of working hours, stackers saw a year-on-year increase of 28.65%, while front lifts increased by 9.92%. Notably, Chongqing's stackers had the highest growth rate at 22.83% [4]. Regional Analysis - The central region had an average operating rate of 48.24% in Q1, with lifting equipment at 70.49% and excavators at 58.12%, leading all regions. This growth was driven by policy benefits, major project investments, and industrial upgrades [4]. - The eastern region's average operating rate was 44.70%, with concrete equipment at 41.51%. In March, Fujian's stackers saw a remarkable year-on-year increase of 176.35% [5].

挖掘机是基础设施建设的"标配"，是反映基础设施建设、观察固定资产投资等经济变化的风向标。央 视财经打造的 "央视财经挖掘机指数" 3月17日发布了最新相关数据。今年1至2月份， 全国挖掘机国内销量 同比增长了51.4% ，反映出农田水利、林业、交通、市政工程、矿山等领域的建设步伐在加快。 春节不打烊！多省份工程机械开工率增长 2月份， 全国工程机械开工率为35.10%，安徽、湖北、河南、浙江、福建、重庆、江西开工率超 50%。 2月虽然处于春节假期，前10省份仍有近半数设备加班加点，基础建设呈现一片繁荣的景象。 此外，2月份，河北、宁夏、新疆、甘肃、山东、天津、北京和青海等地，综合开工率同、环比齐增 长。 吊装设备开工率"爆表"，基建冲刺阶段见证"中国速度"！ 2月份， 全国吊装设备平均开工率为56.63% ，远超其他大类设备。吊装设备常用于大型设备安装、结 构吊装等环节，其开工率高说明更多基建项目，在2月份进入施工后期，集中进行设备调试、主体结构封顶 等收尾工作。吊装设备同、环比均有良好表现的集中在西部地区，西部基础建设如火如荼。 霸榜！东部地区开工率领跑全国，设备全速运转 2月份，东部地区依托长三角、珠三 ...