Caterpillar Inc does not expect Chinese demand for hydraulic excavators to return to its 2010 peak, Tom Pellette, group president for construction industry equipment, told the Financial Times in an interview. In October, Caterpillar forecast a drop in 2016 sales and profit as the outlook for global mining, drilling and construction activity remained bleak, and posted lower third-quarter earnings. The world’s largest construction and mining company, which the previous month announced a major restructuring, said slower Chinese economic growth and Brazil’s recession dented company revenues as sales in all three of its major business segments fell. In China, industry-wide sales of certain excavators will reach the “23,000 range” this year, Pellette said, compared to more than 27,000 sold in March 2011 alone and the more than 112,000 for all of 2010, according to the FT. “That shows how far off the peak we are,” Pellette told the FT. “My expectation is within China and globally that the market will pick up to a level above where we are in 2015. But for China specifically, our expectation is that the market will rebound but we are not planning [for it to] get back to 2011/2012 levels.”