The growth momentum of the construction machinery industry will continue

Currently, the construction machinery industry continues to be hot. The industry believes that the domestic resumption of work and production, infrastructure, and real estate are the main factors driving the rebound in construction machinery sales in the second quarter. It is expected that as the construction of the "two new and one high" construction continues in the fourth quarter, a number of major projects have been implemented one after another, the construction machinery industry will continue to maintain a high boom, and the growth momentum is expected to continue.

Since the second half of the year, the construction machinery industry has continued to be hot. According to the latest data from China Construction Machinery Industry Association, the 25 excavator manufacturers included in the statistics in August 2020 sold a total of 20,939 excavators of various types, an increase of 51.3% year-on-year. Domestic excavator sales have maintained a year-on-year growth rate of more than 50% for five consecutive months. The total sales in the first eight months of this year accounted for 89.3% of the total sales in 2019.