China's excavator industry has become a barometer of the country's economic landscape and its performance has been closely watched by analysts. Figures released for the period of January to October 2023 revealed that domestic sales of excavators accounted for 46% of total sales, while international sales made up the remaining 54%. This marks the first time that international sales have surpassed domestic sales, which will help to offset the impact of declining domestic demand on the industry.

The overseas market has been a key driver of growth for Chinese excavator manufacturers, with sales volumes reaching an estimated 454,000 units for the year, an increase of 7.7% on the previous year. The European, North American, and Asia-Pacific regions are the top three markets for Chinese excavators, and despite global market fluctuations, China currently only holds a 14% share of the global market, indicating significant room for growth.

Therefore, the China Construction Machinery Industry Association's Excavator Machinery Branch proposes the following initiatives to various enterprises:

1. Meeting customer demands and becoming the preferred brand: Enterprises should prioritize satisfying customer needs as the foundation to become the preferred brand. They should develop effective strategies, define their company's positioning, identify emerging customer needs, and explore new growth opportunities to expand their market share and maximize potential.

2. Engaging in fair competition and reshaping corporate value: Enterprises should engage in fair competition to reshape corporate value. They should respect the essence of business competition, maintain a balanced ecosystem among suppliers and dealers, strengthen operational capabilities, achieve control over core technologies, and enhance product quality and brand value.

3. Managing risks and pursuing sustainable development: Enterprises should enhance risk management capabilities, support channel development, strengthen after-sales profitability, and create a sustainable path for development.

4. Adopting a global perspective and building a renowned brand worldwide: Enterprises should understand global business regulations and legal risks, promote the influence of the "Made in China" brand, and uphold a positive national image. This includes expanding overseas sales and establishing a solid domestic market abroad.

 （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 immediately）