Mechanical Shovel And Excavator Prices in China

China Mechanical Shovel And Excavator Export Price in September 2022

In September 2022, the mechanical shovel and excavator price stood at $48,391 per unit (FOB, China), growing by 12% against the previous month. Over the period under review, the export price saw a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by the country of destination: the country with the highest price was Saudi Arabia ($100K per unit), while the average price for exports to the Netherlands ($18,906 per unit) was amongst the lowest.

From January 2022 to September 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+7.9%), while the prices for the other major destinations experienced more modest paces of growth.

China Mechanical Shovel And Excavator Export Prices by Type

Prices varied noticeably by the product type; the product with the highest price was self-propelled full-rotation excavators and bulldozers ($54,468 per unit), while the average price for exports of self-propelled bulldozers and excavators ($17,203 per unit) was amongst the lowest.

From January 2022 to September 2022, the most notable rate of growth in terms of prices was recorded for the following types: full-rotation excavator (+0.8%), while the prices for the other products experienced mixed trend patterns.

China Mechanical Shovel And Excavator Exports

In September 2022, the amount of mechanical shovels, excavators and shovel loaders exported from China soared to 25K units, with an increase of 17% on August 2022. Over the period under review, total exports indicated a pronounced increase from January 2022 to September 2022: its volume increased at an average monthly rate of +3.7% over the last eight-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on September 2022 figures, exports increased by +16.6% against August 2022 indices. The most prominent rate of growth was recorded in March 2022 when exports increased by 39% against the previous month. Over the period under review, the exports attained the maximum in September 2022.

In value terms, mechanical shovel and excavator exports soared to $1.2B (IndexBox estimates) in September 2022. In general, total exports indicated perceptible growth from January 2022 to September 2022: its value increased at an average monthly rate of +4.6% over the last eight-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on September 2022 figures, exports increased by +30.1% against August 2022 indices. The most prominent rate of growth was recorded in March 2022 when exports increased by 31% against the previous month. Over the period under review, the exports reached the maximum in September 2022.

China Mechanical Shovel And Excavator Exports by Type

Self-propelled full-rotation excavators and bulldozers (17K units) was the largest type of mechanical shovel and excavator exported from China, with a 67% share of total exports. Moreover, self-propelled full-rotation excavators and bulldozers exceeded the volume of the second product type, wheeled loaders, crawler shovel loaders, front-end loaders (7.7K units), twofold.

From January 2022 to September 2022, the average monthly growth rate of the volume of export of self-propelled full-rotation excavators and bulldozers totaled +4.2%. With regard to the other exported products, the following average monthly rates of growth were recorded: wheeled loaders, crawler shovel loaders, front-end loaders (+2.6% per month) and self-propelled bulldozers and excavators (+2.2% per month).

In value terms, self-propelled full-rotation excavators and bulldozers ($926M) remains the largest type of mechanical shovel and excavator exported from China, comprising 76% of total exports. The second position in the ranking was held by wheeled loaders, crawler shovel loaders, front-end loaders ($285M), with a 23% share of total exports.

From January 2022 to September 2022, the average monthly rate of growth in terms of the export volume of self-propelled full-rotation excavators and bulldozers totaled +5.1%. With regard to the other exported products, the following average monthly rates of growth were recorded: wheeled loaders, crawler shovel loaders, front-end loaders (+3.3% per month) and self-propelled bulldozers and excavators (+1.5% per month).

China Mechanical Shovel And Excavator Exports by Country

Russia (4.3K units), the United States (2.4K units) and Belgium (2.1K units) were the main destinations of mechanical shovel and excavator exports from China, together accounting for 35% of total exports.

From January 2022 to September 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Russia (with a CAGR of +16.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for mechanical shovel and excavator exported from China were Russia ($220M), Indonesia ($141M) and Belgium ($91M), with a combined 37% share of total exports. the United States, Saudi Arabia, Brazil, Vietnam, the Philippines, the UK, Australia, Germany, Argentina and the Netherlands lagged somewhat behind, together accounting for a further 31%.

Saudi Arabia, with a CAGR of +18.5%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform