The excavator industry has become a reflection of the Chinese economy, embodying the broader trends and shifts in the country's economic landscape. From January to October 2023, domestic excavator sales accounted for 46%, while international sales constituted 54%, marking the first time that international sales surpassed domestic sales, thereby alleviating the impact of declining domestic sales on the industry.
In the overseas market, the cumulative sales volume from January to September 2023 reached 363,000, projecting an estimated annual total of 454,000. The overall volume is anticipated to decrease by 7.7%, with Europe, North America, and the Asia-Pacific region remaining the top three markets. Although the global market experiences high-level fluctuations, China's export share constitutes only 14% of the global market, indicating substantial space for growth.
Therefore, the China Construction Machinery Industry Association's Excavator Machinery Branch proposes the following initiatives to various enterprises:
1. Meet customer demands and become the preferred brand: Enterprises should meet customer demands and adhere to satisfying customer needs as the fundamental starting point. Simultaneously, they should develop effective business strategies, pinpoint their company's positioning, identify emerging customer needs, and explore new growth areas in the market to expand their market share and maximize opportunities.
2. Engage in rational competition and reshape corporate value: Enterprises should engage in rational competition and reshape corporate value. Simultaneously, they should respect the essence of business competition, effectively maintain the upstream and downstream ecosystem, safeguard the interests of the supply chain and dealers, enhance operational capabilities, achieve independent control of core technologies, and improve product business conditions and brand value.
3. Guard against risks and pursue healthy, sustainable development: They should enhance risk management capabilities, support channel construction, strengthen after-market profit capabilities, expand the company's survival space to achieve sustainable development.
4. Have a global perspective and become a globally renowned brand: From overseas sales to establishing a second domestic market, Enterprises ought to pay attention to overseas business rules and legal risks, enhancing the influence of "Made in China" brand and effectively upholding the national image.
(The source of this article is based on Comprehensive Analysis of the Global and Chinese Excavator Market, if there is any infringement, please contact our company to delete）