China Construction Engineering

Research evidence excerpt

China Construction Engineering

ports

• Excavators: exports. Exports rose 36.4% YoY to 14,547 units in June, China Construction Engineering: Steady demand,

upside from electrification & after-market sales

marking the 23rd consecutive month of growth. For 5M26 (latest data

available), export volumes rose 32.9% YoY while export value increased China Construction Engineering: Apr-26: Domestic

accelerates; overseas steady

26.7% YoY, suggesting that small to medium excavators with lower

ASPs drove export growth. Indonesia, Belgium and the US were the China Construction Engineering Mar-26: Domestic rebounds, exports stay strong

top three export markets in 5M26, with shares of 11.1%, 3.6% and

China Construction Engineering 2M26: Resilient

3.4%, respectively. Asia remains the largest market for China’s exported exports but weak domestic

excavators, followed by Africa, Europe, Latin America, the Middle East,

China Construction Engineering Growth off a low base

and the US. Chinese brands hold leading positions in Africa and Asia and

match global peers in the Middle East, while entry barriers remain in Caterpillar/Komatsu results readthrough Construction demand recovery in US, EU, Middle East & Africa

Europe and North America. Caterpillar and Komatsu see construction

China automation & industrials China Automation

demand recovering across the Americas, the EU, and Africa, underpinning Day: Expert call takeaways

export tailwinds for Chinese players.

China Construction Engineering Dec-25: Strong

• Non-excavator segment: 5M26 (latest data available) domestic sales of ending for excavator sales

loaders, graders, compactors and forklifts grew 16.2%, -16.0%, -2.9%, and China Construction Engineering Nov-25: Excavator

-33.8% YoY (vs +22.1%/32.4%/18.9%/12.6% YoY in 2025), respectively.