ACCOUNT PROFILE

China’s Jan excavator sales surge 97.2% yoy on low basis

Posted on 10 February 2021

China’s excavators sales by the 26 makers for both domestic and overseas markets totalled 19,601 units for January, or up 97.2% on year, according to the latest statistics from the China Construction Machinery Association (CCMA), with the surge mainly due to the low base numbers for January 2020 when China was hit by the COVID-19 and the remaining robust demand from the domestic construction projects, market sources commented.

“Such a huge jump is no surprise me at all, as the sudden pandemic outbreak in late January 2020 laid a very low basis,” a Shanghai-based market analyst stated, and “for the same reason, February may post a jump of a similar agree,” she said.  

Among the total, domestic sales increased 106.6% on year to 16,026 units, and exports were 63.7% higher on year to 3,575 units, while for January 2020, China’s excavators sales by 25 manufacturers fell 15.4% on year to 9,942 units, and a steeper 50.5% on-year dive was reported for February 2020 due to the ongoing battle against the COVID-19 and the extended Chinese New Year (CNY) holiday, as Mysteel Global reported.

Meanwhile, China’s domestic construction sector has appeared exceptionally strong and so will the demand for excavators, though usually January-February are slack months as CNY tends to fall on either of the months.

This year is of special importance, as it is the first year of China’s 14th Five-Year Plan period (2021-2025) and also the 100th anniversary of the founding of China’s Communist Party, so “all the local authorities will endeavour to achieve economic growths for a bright start, and the construction sites including infrastructure and property projects have been bustling since the start of the year,” the analyst added.

Mysteel’s incomplete survey showed that for January, 5,748 major construction projects with the total investment at Yuan 289 million ($44.8 million) had been commenced, which was up 79.5% on month in volume or up 7.4% on month in value.

China’s domestic excavator sales by size

 

≥28.5t

18.5-28.5t

18.5t

Total

Jan (unit)

2,292

4,463

9,271

16,026

YoY

107.4%

181.8%

82.9%

106.6%

Source: CCMA

Source : Mysteel Global