Excavators, as indispensable heavy machinery equipment in modern engineering construction, are widely used in real estate development, infrastructure construction, mining industry and other fields.
With the continuous progress of technology and changes in market demand, the excavator industry has undergone significant transformation and upgrading in the past few years.
Overview of Excavators
Excavator is a multifunctional self-propelled mechanical equipment with different types such as track type, tire type, or walking type. Its main structure includes a structure with a working device on the upper part, which can rotate 360 °. Excavators mainly excavate materials above or below the bearing surface through buckets, and load them into transport vehicles or unload them to the material yard.
Classification of excavators
According to tonnage and demand, excavators can be divided into the following categories:
Extra large excavation: suitable for large-scale mining and earthwork engineering.
Large excavation: mainly used for large-scale infrastructure construction and mining operations.
Middle excavation: applied to medium-sized engineering and construction sites.
Small excavation: suitable for small construction sites and urban construction.
Mini excavation: used for operations in narrow spaces, such as municipal maintenance and landscaping projects.
Analysis of the excavator industry industry chain
The industrial chain of the excavator industry is mainly divided into three links: upstream, midstream, and downstream. The coordination and development of each link are crucial for the overall healthy development of the excavator industry.
The upstream link includes the production and supply of raw materials and core components required for excavator manufacturing, mainly including steel, engines, hydraulic systems, etc. The quality of raw materials and the stability of supply directly affect the performance and production cost of excavators.
The midstream stage is the manufacturing process of excavators, involving the design, assembly, and testing of the entire machine. Excavator manufacturing enterprises integrate various components provided upstream to produce excavator products that meet market demand.
The downstream links mainly include the application fields of excavators, such as real estate development, infrastructure construction, mining industry, etc. Excavators play an important role in these fields, improving construction efficiency and safety.
Current situation of China's excavator market
Affected by factors such as the pandemic and geopolitics, the global economy has slowed down, and China's infrastructure construction and engineering construction industries have been impacted, resulting in a significant decrease in demand for the upstream excavator industry. In 2023, the sales of excavators in China reached 195000 units, a year-on-year decrease of 25.4%, continuing the downward trend of 2022. However, thanks to a series of foreign development policies in China, the volume of contracted foreign projects has been increasing year by year, and the export volume of excavators has grown rapidly, partially alleviating the pressure of insufficient domestic market demand.
The position of Chinese excavator companies in the global market is gradually increasing, especially in the Asian, African, and South American markets, with increasing demand. Thanks to the high cost-effectiveness and comprehensive after-sales service system of Chinese brands, the export volume of excavators has maintained stable growth.
Global market landscape
From a global market perspective, the excavator market share is mainly concentrated in countries such as Japan, South Korea, the United States, and China. These countries have strong manufacturing and technological innovation capabilities, occupying an important position in the global excavator market.
In the top 20 global excavator manufacturers in 2023, Chinese excavator brands occupy five positions, namely Sany Heavy Industry, XCMG Machinery, Liugong Machinery, Zoomlion Heavy Industry and Shanhe Intelligent. These enterprises continuously enhance their competitiveness in the global market through technological innovation, brand building, and market expansion.
Analysis of Future Development Trends
Intelligence and Automation: In the future, the excavator industry will develop towards intelligence and automation. By combining technologies such as the Internet of Things, big data, and artificial intelligence, excavators will achieve higher levels of automation and provide more intelligent construction solutions. For example, the application of autonomous excavators will greatly improve construction efficiency and safety, and reduce labor costs.
Electrification trend: With the improvement of environmental protection requirements and the advancement of battery technology, electric excavators will become an important development direction in the future market. Electric excavators have advantages such as zero emissions, low noise, and low maintenance costs, making them particularly suitable for urban construction and environments with high environmental requirements.
Multifunctional development: The multifunctionality of excavators will be one of the future development trends. By adding different accessories and modules, excavators can adapt to different working environments and task requirements, achieve multi-purpose use of one machine, and improve usage efficiency. For example, excavators can achieve various functions such as excavation, crushing, loading and unloading by configuring different accessories, improving work efficiency and flexibility.
Global layout: With the improvement of technical level and market competitiveness of domestic excavator enterprises, more and more enterprises will accelerate their global layout, explore overseas markets, and enhance international competitiveness. By participating in international competition, domestic enterprises will further enhance their technical and management capabilities, and promote the high-quality development of the industry.
As an important equipment in modern engineering construction, the development level of excavators directly affects the efficiency and safety of the entire construction project. Driven by policy support, market demand, and technological progress, the Chinese excavator industry will usher in broader development space in the future. Faced with opportunities and challenges, enterprises need to continuously improve their technological level and market competitiveness, promote the intelligent, electric, and international development of the industry, and assist in the transformation and upgrading of China's construction machinery industry.
