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During an analyst meeting on July 11, Liugong projected that the domestic earthmoving machinery market will witness continued demand growth in the second half of the year. The industry anticipates an annual growth rate exceeding double digits for excavators and loaders sales throughout 2023. This positive outlook is underpinned by supportive economic and fiscal policies, coupled with structural demand. Nevertheless, the international market confronts challenges posed by various complex factors, with overall demand still in a recovery phase, expected to gradually stabilize by 2026. Regional disparities persist, with emerging markets demonstrating resilient growth, while mature markets present development opportunities driven by the acceleration of new energy adoption and technological advancements.
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