In March 2026, the construction machinery industry ushered in the traditional “Golden Three” sales season, and domestic excavator sales increased by nearly 30% year-on-year.
According to statistics from the China Construction Machinery Industry Association on major excavator manufacturers, a total of 37,400 excavators of various types were sold across the country in that month, a year-on-year increase of 26.4%.
Specifically, domestic sales were 24,000 units (including 43 electric excavators), a year-on-year increase of 23.5%; exports were 13,300 units (including 33 electric excavators), a year-on-year increase of 32%, and a month-on-month increase of 27%.
This data shows that the excavator market is showing a good development trend both at home and abroad.
According to CCTV Financial News, the resumption of work and production in the national engineering construction field accelerated in March, and the average operating rate of construction machinery was 41.49%, an increase of 16.84 percentage points from the previous month.
The month-on-month increase in operating rates in 14 provinces exceeded 20 percentage points, showing an echelon of recovery characterized by “strong recovery in the northwest, accelerated restoration in the northeast, and follow-up efforts in north and east China.” The pace of resumption of work in 14 provinces including Ningxia, Beijing, and Gansu is significantly faster than the national average.
This also provides strong market support for the sales of excavators.
However, affected by the Spring Festival holiday, excavator sales fell into a periodic low in February 2026. A total of 17,200 units were sold that month, a year-on-year decrease of about 10%.
However, based on first quarter data, major excavator manufacturing companies across the country sold a total of 73,300 excavators from January to March 2026, a year-on-year increase of 19.5%.
Among them, domestic sales were 39,600 units (including 86 electric excavators), a year-on-year increase of 8.25%; exports were 33,800 units (including 60 electric excavators), a year-on-year increase of 36.1%. Export data maintained a growth trend every month.
The Kaiyuan Securities research report stated that the construction machinery industry is expected to usher in a stage of resonance of new & updated demand and dual resonance of domestic & overseas.
In recent years, the revenue and profits of leading OEMs have returned to rapid growth, profitability continues to improve, asset quality is solid and stable, accounts receivable and inventory continue to decrease, cash flow continues to improve, risk control capabilities continue to strengthen, and performance inflection points continue to appear.
With the continuous advancement of engineering construction and the continuous release of market demand, the construction machinery industry is expected to continue to maintain a good development momentum in the future.
As an important part of construction machinery, the sales of excavators will also reflect the development trends of the entire industry.
For relevant enterprises, they should seize this opportunity and continuously improve product quality and service levels to meet market demand and achieve better development.
