Recently, two hydrogen-powered excavators, two hydrogen-powered loaders, and four hydrogen-powered wide-body mining trucks were officially put into operation in the Jinshan mining area, marking the implementation of the integrated “production, storage, refueling, transportation, and use” layout of Daye’s hydrogen energy industry in the application segment. This achieved the large-scale use of hydrogen-powered heavy engineering equipment in mining areas across China and injected new momentum into the green, low-carbon transformation of mines. As core equipment developed by Taiyuan Heavy Machinery, the TZ350EH hydrogen-powered excavator and TZ958EH hydrogen-powered loader worked in coordination with hydrogen-powered wide-body mining trucks, covering the entire process of mining, loading, and transportation. The equipment emitted only pure water, thoroughly improving the operating environment of traditional mining areas. This batch of hydrogen-powered equipment was deeply optimized for the complex working conditions of mines, with prominent core advantages: the hydrogen-powered excavator featured zero emissions and low noise, and could operate at full load after just five minutes of hydrogen refueling; the hydrogen-powered loader integrated hydrogen power with heavy-load performance and, equipped with proprietary technology, reduced consumption and improved efficiency; the hydrogen-powered wide-body mining truck offered fast energy replenishment, a high energy recovery rate, and excellent low-temperature starting performance, laying a solid foundation for green transportation. This large-scale deployment enabled hydrogen-powered equipment to undergo practical verification in real mining scenarios. It not only opened up a new path for the clean replacement of mining equipment, but also stabilized market demand for upstream hydrogen production, storage, and transportation, promoted coordinated development across the upstream and downstream segments of the hydrogen energy industry chain, and provided a replicable and scalable practical model for transforming traditional mining areas into green and intelligent mines.

[National Bureau of Statistics (NBS): China's excavator production exceeded 100,000 units from January to April] The latest data from the National Bureau of Statistics (NBS) showed that in April 2025, China's excavator production reached 26,022 units, up 13% YoY. From January to April 2025, China's excavator production totaled 106,394 units, up 14.3% YoY.

[Total Excavator Sales in May Increased by 2.1%, Domestic Sales Fell Short of Expectations] According to statistics from the China Construction Machinery Industry Association, a total of 18,202 excavators of various types were sold in May 2025, up 2.1% YoY. Among them, domestic sales reached 8,392 units, down 1.5% YoY, while exports stood at 9,810 units, up 5.4% YoY. In May, domestic excavator sales fell 1.5% YoY, with the growth rate declining by 17.8 percentage points from the previous value, falling short of expectations. The main reasons were the overconsumption of demand due to high sales growth at the beginning of the year and the weakening of the operating rate of construction machinery, which affected confidence on the demand side. Although domestic excavator sales fell YoY in May, sectors such as real estate and infrastructure have shown a marginal improvement trend since the beginning of the year. Meanwhile, with policy support, replacement demand is also expected to accelerate, and domestic excavator sales for the whole year are expected to maintain growth.

In February 2025, a total of 19,270 excavators were sold. According to statistics from the China Construction Machinery Association on major excavator manufacturers, sales in February 2025 increased by 52.8% YoY. Among them, domestic sales reached 11,640 units, up 99.4% YoY, while exports totaled 7,630 units, up 12.7% YoY. From January to February 2025, a total of 31,782 excavators were sold, up 27.2% YoY. Among them, domestic sales were 17,045 units, up 51.4% YoY, and exports reached 14,737 units, up 7.37% YoY.

According to the China Construction Machinery Association's statistics on major excavator manufacturers on April 8, 29,590 excavators of various types were sold in March 2025, up 18.5% YoY. Domestic sales reached 19,517 units, up 28.5% YoY, while exports totaled 10,073 units, up 2.87% YoY. From January to March 2025, a total of 61,372 excavators were sold, up 22.8% YoY. Domestic sales amounted to 36,562 units, up 38.3% YoY, and exports reached 24,810 units, up 5.49% YoY. In March 2025, 15 electric excavators were sold (3 units below 6 mt, 1 unit in the 10-18.5 mt range, 9 units in the 18.5-28.5 mt range, and 2 units of 40 mt and above).

【Excavator Sales Up YoY in 2024】According to statistics from the China Construction Machinery Association, in December 2024, major excavator manufacturers sold 19,369 units, up 16% YoY, including domestic sales of 9,312 units (up 22.1% YoY) and exports of 10,057 units (up 10.8% YoY). In 2024, a total of 201,131 excavators were sold, up 3.13% YoY, including domestic sales of 100,543 units (up 11.7% YoY) and exports of 100,588 units (down 4.24% YoY). In December 2024, 9 electric excavators were sold (8 units below 6 mt, 1 unit in the 18.5-28.5 mt range).