China's leading heavy equipment manufacturer Sany Heavy Industry Co., Ltd. sold 98,705 excavators in 2020, the company said on Monday.
According to the consulting company Off-Highway Research, Sany's share of the global excavator sales market in 2020 was 15%, according to this indicator it held the first place in the world.
Excavator sales are considered one of the important indicators of economic vitality, as their growth is associated with the acceleration of the development of the mining industry and infrastructure. Sany excavator sales in 2020 show that the drivers of China's economic growth remain strong despite the impact of the COVID-19 epidemic.
“The domestic market accounted for about 90% of the total number of excavators sold by Sany in 2020,” said Sany President Xiang Wenbo, adding that the growth in sales of Sany excavators amid the COVID-19 epidemic was mainly due to that China has managed to effectively control the epidemic and achieve economic recovery.
Sany products are very popular with consumers, which is due to the constant promotion of innovations. On Monday, the company unveiled the new generation SY375IDS smart excavator, which features a 1.9 cubic meter bucket and an electrically controlled hydraulic system.