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About UsYantai Gao Hong Hydraulic Technology Co., Ltd. is located in Yantai Economic and Technological Development Zone. Mainly engaged in construction machinery, ships, agricultural machinery, coal machinery, military, aerospace hydraulics, excavator parts, hydraulic products, research and development, production, sales of high-tech industries.
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ProductsIn 2013, the company introduced foreign hydraulic pilot technology, research and development production of hydraulic pilot series products. The company has more than 30 patents, the company's own brand “GH” hydraulic pilot handle has won more than 20 national patents, approved by the national science and technology-based small and medium-sized enterprises.
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BlogThe company takes “win-win cooperation, innovation and development” as the concept, the pursuit of quality satisfaction as the goal, and strive to create a domestic professional hydraulic parts manufacturers and suppliers.
Global Excavator Market Rebounds in 2024: Infrastructure Boom Meets Electrification Challenges
Release time:
2025-09-15
The global excavator industry demonstrated a robust recovery in 2024, ending a three-year declining trend with steady growth driven by renewed infrastructure investments and technological advancements. According to industry statistics, worldwide excavator sales surpassed 200,000 units last year, marking a 3.1% year-on-year increase as both domestic demand and export markets showed signs of revival.
Regional Demand Dynamics
The recovery was particularly evident in Asian markets, where domestic sales in major markets rose 11.7% year-on-year to exceed 100,000 units. This growth was complemented by strong export performance in the final quarter, with December exports jumping 10.8% compared to the previous year, signaling renewed confidence in international markets.
Regional markets displayed distinct characteristics: North America saw an 8% annual increase in demand for medium-sized excavators, primarily driven by energy transition projects including oil and gas pipeline expansions and lithium mining activities. Meanwhile, Southeast Asia benefited significantly from infrastructure investments under the RCEP framework, with demand for 20-ton class general-purpose excavators projected to double by 2027.
European markets showed a clear shift toward smaller equipment, with electric micro-excavator sales expected to grow at 15% annually, influenced by stringent carbon tariff policies pushing for cleaner construction practices. This regional variation reflects the industry's adaptation to diverse regulatory environments and infrastructure priorities.
Electrification: Slow Progress with Promising Growth
While the overall market recovered, electrification efforts presented a mixed picture. Electric excavator sales grew impressively by 161% in the first half of 2025 compared to the same period in 2024, yet their market penetration remained low at just 0.12% of total excavator sales. This contrasts sharply with electric loaders, which achieved a 21.54% penetration rate during the same period.
Market data reveals a significant shift toward smaller electric models, with micro-excavators (below 6 tons) accounting for 40.7% of electric sales in June 2025, up from just 8.3% in January 2024. Medium-sized electric models (18.5-28.5 tons) saw their market share decline from 91.7% to 44.4% during the same period, indicating a clear market preference for electrification in lighter applications.
Long-term projections remain optimistic, with industry analysts forecasting electric excavators will capture over 35% of the global market by 2030, up from an estimated 12% in 2023. Technological advancements, including lithium-ion battery systems with energy density exceeding 300Wh/kg, are expected to extend the operating range of 8-ton electric models to over 10 hours, addressing a key adoption barrier.
Intelligent Transformation Gathers Pace
Beyond electrification, the industry is undergoing significant (intelligent transformation) through integration of 5G, BeiDou navigation, and artificial intelligence technologies. These advancements enable features such as low-latency remote operation, automatic path planning, and real-time environmental sensing.
Industry experts predict that intelligent construction systems based on 5G+BeiDou technology will see their coverage increase from 18% in 2025 to 60% by 2030, potentially improving construction efficiency by up to 40%. Predictive maintenance systems and digital service platforms are also expanding, with remote diagnostic coverage expected to reach 85% by 2030, significantly reducing downtime and maintenance costs.
Modular design innovations are further enhancing equipment versatility, allowing quick attachment changes to adapt to earthmoving, crushing, and other applications. This trend is helping reduce the total lifecycle cost of equipment by approximately 25%.
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