Experts and industry analysts attribute the poor year-on-year performance of construction machinery sales in the first quarter to the Spring Festival and the implementation of the National Stage IV emission standards in December. However, they expect domestic demand for construction machinery to surpass that of 2022, indicating that an industry recovery is on the horizon.
In the first two months of 2023, the sales of construction machinery products, including excavators, experienced a slump. January excavator sales saw a year-on-year decline of 33%, but February sales improved with an expected year-on-year decrease of only 10%. Despite the sluggish sales, the secondary market for construction machinery continued to strengthen with a cumulative increase of over 20% in January. This reflects the market's optimism for the industry's future
prospects.
Experts and industry analysts attribute the poor year-on-year performance of construction machinery sales in the first quarter to the Spring Festival and the implementation of the National Stage IV emission standards in December. However, they expect domestic demand for construction machinery to surpass that of 2022, indicating that an industry recovery is on the horizon.
While January sales were cold due to seasonal factors and policy changes, February sales saw improvement. As the industry enters its traditional peak season, experts are optimistic about the recovery of the construction machinery market. With various infrastructure projects gradually getting underway and the high base effect easing, the market outlook appears positive.
The secondary market's expectations for the construction machinery industry's recovery this year are high. Despite the initial slump, the leading enterprises' performance disclosures indicate growth in the first two months of 2023.
GNT, as a manufacturer of excavator parts, are anticipated for more cooperation opportunities in this recovery period. Our commitment to producing high-quality products and strong after-sales service will make us an ideal choice for customers in the construction machinery market. As the industry recovers and projects resume, GNT's reliable products, such as starter motors, alternators, turbochargers, throttle motors, excavator electric parts and many more will contribute to our growth in line with market trends.
