Friends who are familiar with the excavator market know that the excavator market in China has been booming since 2021. So, what is the main reason for the increase? In fact, the main reason is the rise in upstream raw materials.
Since the end of 2020, the prices of raw materials such as steel and castings have started to rise, which has led to complaints from hydraulic component factories. However, there is no other way. After the small fluctuations in raw material prices, hydraulic component manufacturers and excavator host manufacturers have compressed profits to digest them on their own, in order not to affect changes in the product market.
Starting from mid May 2021, raw material prices have fluctuated significantly, and the excavator industry has entered a period of low profits, which has forced all host manufacturers to raise prices.
So when buying excavators, it's important to wait until the price rises before buying!