Construction machinery stocks continued their recent upward trend. At the time of writing,
According to the China Construction Machinery Association, sales of various excavators in January 2026 reached 18,708 units, representing a year-on-year increase of 49.5%. Domestic sales accounted for 8,723 units, up 61.4% year-on-year, while exports totaled 9,985 units, growing 40.5% year-on-year. Both domestic and international sales of earthmoving equipment surpassed expectations.
Guotai Haitong Securities released a research report stating that overseas performance has been outstanding during this current industry upcycle. Domestic companies are persistently deepening their presence and expanding efforts in markets such as Southeast Asia, Europe, and South America, leading to optimism regarding the sector's earnings growth.
Huatai Securities added that the construction machinery sector in 2026 is expected to demonstrate synchronized growth both domestically and internationally. The commencement of key infrastructure projects, such as the hydropower project on the lower reaches of the Yarlung Tsangpo River, along with a potential recovery in the real estate sector, are anticipated to bolster domestic demand. Concurrently, sustained increases in global metal prices are expected to significantly drive demand for mining machinery overseas. The brokerage expressed a positive outlook for the rising global market share of domestic construction machinery manufacturers.