Meta Description: in 2023, the expansion of Hydraulic excavator manufacturing is growing rapidly. Read the blog to know how the competitive market of Mini excavators in China is expanding with new features!
A mini excavator is a famous tool used in many applications. That is why the excavator industry is continuously growing in China. Many factors positively affect this growing market. These include:
- The status of China’s excavator market
- Need and supply of excavator
- Competition in this industry
We can see much competition in the excavator market. So many manufacturers are focusing on different features and technologies. They aim to allow customers to must invest in this field. In 2014, there were almost 90,507 excavator sales in China. The source of this sale was nearly 29 manufacturing companies. But this sale is almost 20% less than last year’s sale.
China Construction Equipment Market Analysis
FACT: In current years, the value of construction machines has reached upto $60 billion. While in the coming five years, this value will increase to $70 billion.
We know the world has suffered from COVID-19 in the last few years. It badly impacted the construction industry in these years. At the start of 2020, the construction market face declined upto 7%. Though it was not a major decline but it actually badly impacted the industry. The manufacturing industry is indeed based on construction machines. These include wheel loaders and cranes.
A PMI under 50% is considered an economic decline in the market. So in 2020, there was a decline in PMI upto 49.5%. This decline was due to many factors.
- Disturbances in the supply chain
- Disruption in the manufacturing industry
- Constraints on travel
- Continuously reduced sales of machines
As all these factors badly impacted the industry. But now the pandemic has gone, and the restrictions on travel have been reduced. So it is hopeful that soon the market will cover all the losses. As a result, there will be an increase in the market.
Development of Electric Mini excavators in China
Many factors positively impact the growth of the mini excavator industry. These include:
- The growing focus on structure
- The development in the construction process
- Innovation of the electric mini excavators
Besides, there is a sudden increase in the road construction industry. It is just because of the continuous increase in the road programs. The two main road development programs are Belt and Road Initiative.
Though China is the most famous country in construction machinery, that is why it is also the major machinery manufacturer. Construction equipment is used in many sectors. These may range from rural construction applications to private constructions. All these applications are continuously growing demand for machines.
Purchasing the construction machinery is a better option. But renting the machinery is also at its peak. However, buying machinery is a costly option. It is because you have to invest in maintenance and storage. While renting the machine is less costly and gives you more profit.
China Construction Equipment Industry Segmentation
Do you know what construction equipment is? It is the equipment used in the completion and maintenance of construction projects. Not only this, the equipment improves performance and production. Plus, the equipment is used in different constructions.
These include road, bridge, and dam construction. Here different types of construction equipment come to mind. But the most famous is the mini excavator.
The construction machinery market in China has different segments. All these are based on different factors such as:
- Type of machine
- Type of drive
- Sales channel
- Type of project
Step 1: When it comes to exploring the types of machines, We can proudly say that there are many machines. These include cranes, handlers, excavators, and motor grades.
Step 2: When it comes to exploring the type of drive, there are many drives, such as hybrid, electric, and standard.
Step 3: When it comes to exploring sales channels, there are two market segments such as aftermarket and OEM.
Step 4: When it comes to exploring the types of applications, focus on the market covering building, energy, and structural projects.
Growing Demand for Excavators to Drive the Market.
China is the major construction machinery supplier globally. Among the overall equipment sales in Chine, excavators constitute 60%. A report showed almost 30 excavator manufacturers in China. This ratio is more than all other countries around the world. Another report showed 304357 units were sold in China in 2020.
As we have seen sudden increased sales of excavators in China. It shows that excavator is continuously becoming famous in China. It is just because of many infrastructure projects in China.
A report in 2021 showed that the Chinese government spent $4 billion on projects. The scope of infrastructure projects expands to:
- Superhighways
- Railways
- Airports
- Bridges
- Ports
- Metro systems
All these are mega projects which require underneath soil excavation. However, it is not possible to excavate the soil manually. Here mini excavators come in hand. That is why the excavator market in China is growing.
Competitive Mini Excavator Companies in China
There was seen a sudden growth in the hydraulic excavator industry. This increase was not high in some past years. But now, there is a high increase in the manufacturing and excavator industry.
This increase is just because of some famous manufacturers. Each manufacturing company has its own strength and market position. The following are some famous manufacturing companies of hydraulic excavators:
HIXEN Mini Excavator Company:
HIXEN is the most famous excavator manufacturing company. The company is not only famous because of its compact HIXEN Mini Excavator machines. It also offers many other versatile machines. Plus, the company cares for innovation, quality, and customer satisfaction. In very less time, this company has gained much fame globally.
Sany Group:
The Sany group is the most famous and world’s largest excavator manufacturer. This group ranks among the top manufacturers globally. The plus point of this group is that it offers many excavators. All come with different features and capacities.
The company care for the latest technology, robust construction, and high quality. All these are the main factors that make this group famous. This group is famous in both national and international markets. Hopefully, this group will expand in the coming years.
XCMG Group:
It is among the top hydraulic excavator manufacturers. The group introduced many types of excavators. These include:
- Mini excavator
- Midi excavator
- Medium excavator
- Standard excavator
The fame of this group is because of reliability, efficiency, and the latest features. This group is famous in both national and international markets.
Zoomlion Heavy Industry Science & Technology Co., Ltd:
This company is a major manufacturer of construction equipment. These include loaders, skid steers, and hydraulic excavators. The company offers many types of excavators for all job types. These range from urban construction to mining. The company is famous because of its outstanding design and better performance. Plus the latest technology makes this company more famous. This company is famous in both China and the international market.
Liugong Machinery Co., Ltd:
This company is specialized in construction machinery manufacturing. These include loaders, skid steers, and hydraulic excavators. The company has many types of excavators according to customers’ needs. The company care for reliability, cost-effectiveness, super quality, and customer satisfaction. All these are the major factors that make this company famous. This company is famous in both China and the international market.
Sunward Intelligent Equipment Group:
This company specializes in the manufacturing of hydraulic excavators. The company focuses on development and research. The company introduced many types of excavators. These include:
- Mini excavator
- Midi excavator
- Medium excavator
- Standard excavator
The company care for design, the latest technology, and improved efficiency. All these are the main factors that make this company famous. This company is famous in both China and the international market.
Komatsu (China) Ltd:
Komatsu is a well-known manufacturing company. It has a strong presence in the hydraulic excavator industry. The manufacturers of this company distribute excavators to different countries. The company care for the latest technology, high performance, and durability. All these are the main factors that make this company famous.
Conclusion:
We have discussed the ever-growing competition in the excavator market. We have also explained all the major companies in competition. These are not only the famous manufacturers of hydraulic excavators.
Now there is much competition in the manufacturing market. Different companies are trying to produce different products. All these are based on the latest technologies, efficiency, and better customer support.
