On September 7, the China Construction Machinery Association released excavator sales data for August. The data shows that in August 2026, a total of 19,716 excavators of all types were sold, representing a year-over-year increase of 19.3%. Of these, domestic sales totaled 7,986 units, up 3.92% year-over-year, while export sales reached 11,730 units, up 32.7% year-over-year.
The export growth rate in August rose by 11.5 percentage points compared to July’s 21.2% and also exceeded the market’s previous expectations of 15%–20%. A research report by Pacific Securities suggests that export growth was primarily driven by two factors: first, the low export base from the same period last year, which stood at only 8,838 units; and second, sustained high demand overseas for equipment related to mining and infrastructure construction, coupled with continuous improvements in Chinese construction machinery companies’ overseas distribution channels and product competitiveness.
Cumulative Excavator Export Sales Surpass Domestic Sales
Cumulative data also showed a new trend. From January through August 2026, cumulative excavator exports totaled 96,938 units, up 31.8% year-over-year; cumulative domestic sales totaled 94,619 units, up 17.4% year-over-year. Cumulative export sales exceeded domestic sales by 2,319 units.
By contrast, from January through July, cumulative export sales were still 1,425 units lower than domestic sales. One month later, export sales surpassed domestic sales.
A research report by Dongwu Securities suggests that the construction machinery industry is currently in an upward cycle in both domestic and international markets. The growth in excavator sales is driven not only by the recovery of the domestic market but also by increased capital expenditures in overseas mining operations.
Data Centers Emerge as a New Source of Demand for Construction Machinery
In addition to mining and infrastructure, data centers are emerging as a new application scenario for construction machinery.
Jiang Yi, Director of the Policy Research Office and Spokesperson for the National Development and Reform Commission, stated on July 31 that according to estimates by relevant institutions, the construction of the computing power network during the 15th Five-Year Plan period will generate 4 trillion yuan in new direct investment.
The construction of computing power centers involves multiple stages, including site preparation, plant construction, power infrastructure, backup power supplies, cooling systems, and park facilities, thereby driving demand for construction machinery.
The “Excavator Index” shows that in July, the utilization rate of concrete equipment rose by 0.61 percentage points month-over-month and by 7.49 percentage points year-over-year. Regions such as Xinjiang, Ningxia, and Sichuan-Chongqing continue to advance new energy, water conservancy, and data center projects, providing support for the operation of construction machinery.
Industry insiders note that data centers fall under the category of capital-intensive “new infrastructure.” As the construction of related projects accelerates, it will drive demand for construction machinery across multiple segments.
Rapid Growth in Electric Excavator Sales
Domestic sales of electric excavators also saw significant growth in August. A total of 184 units were sold that month—nearly 3.5 times the 41 units sold in July—bringing the monthly market penetration rate to 2.3%.
From January through August, cumulative domestic sales of electric excavators reached 411 units, with 257 units exported, for a total of 668 units and a cumulative market penetration rate of 0.36%. Although the market remains relatively small at present, cumulative sales over the first eight months have already surpassed the full-year level of 2025, indicating that the trend toward electrification is beginning to take shape.
Export Growth Expected to Remain Resilient
From January through August 2026, cumulative nationwide excavator sales reached 191,557 units, representing a year-over-year increase of 24.2%.
Regarding future market prospects, Everbright Securities believes that the replacement of construction machinery is a key driver of the current market recovery. As related support funds are gradually made available, demand for equipment upgrades is expected to continue to materialize. China International Capital Corporation (CICC), meanwhile, points out that overseas demand for construction machinery has been strong, and end-user demand in the overseas construction sector is expected to continue growing.
Judging by current market performance, overseas mining capital expenditures, new infrastructure projects such as data centers, and the expansion of Chinese construction machinery brands into overseas markets are collectively driving industry growth. The application scenarios for excavators are also continuously expanding, extending from traditional mining and infrastructure projects to new infrastructure construction.
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