English Views: 333 Author: Site Editor Publish Time: 2021-07-01 Origin: Site
When the global epidemic has not yet reached an inflection point, the key to boosting China's economy lies in investment and consumption. Excavators, such as John Deere excavators, Caterpillar excavators and Komatsu excavators, have always been the vane of the construction machinery industry. As a midstream industry, the construction machinery industry affects energy resources such as steel, nonferrous metals, and petroleum upwards, and downwards is a barometer of infrastructure investment. Excavator sales hit a record high, showing that infrastructure investment has been on the runway.
Statistics released recently by the China Construction Machinery Industry Association show that in March 2020, a total of 49,408 sets of various excavation machinery products were sold nationwide. Among them, the domestic market sales accounted for 46,610 units, a year-on-year increase of 11.2%; export sales of 2,798 units, a year-on-year increase of 17.7%. In March, 49,400 excavators were sold, setting a historical record.
This data further confirms that while China has achieved initial results in the fight against the epidemic, the effects of resuming work and production have already appeared. Coupled with the previous recovery of leading indicators such as PMI, blast furnace operating rate and coal consumption for power generation, we can confidently say that China's economy is full of resilience and the potential for development is very strong.
In Q1 of 2020, the total number of excavators was 68,630, a year-on-year decrease of 8.22%, in line with expectations. However, the industry concentration has further increased. From the market share of leading companies in the first quarter, Sanyi, Xugong, Liugong, and Lingong accounted for 26.6%, 17%, 8.3%, and 7.3%, respectively, and domestic brands all increased. However, the market share of Cat excavators, Doosan excavators, and Komatsu excavators are 10.6%, 6.2%, and 3.0%, respectively, and the market share of foreign brands is showing a downward trend.
From the perspective of the excavator structure of the domestic market in March, the sales growth rates of large, medium and small excavators were 0.15%, 0.36%, and 18.40%, respectively. The growth rate of mini excavators, such as Komatsu mini excavators, were much higher than the domestic industry average growth rate of 11.24%.
Market analysts believe that the main reason is that small digging is mainly used for municipal engineering and rural construction, etc., and it has a wide range of uses and is less affected by the epidemic. The demand driven by the first resumption of work in downstream application fields is released first, while medium digging and large digging are mainly used for large-scale projects such as real estate and mines, work in these areas began to resume in mid-to-late March, and the demand is lagging. It is expected that in Q2, it will be fully developed.
Today's data shows that the peak season for the construction machinery industry has arrived. The policy is superimposed on the recovery of work resumption rate. Due to the initial release of the backlog of demand affected by the epidemic, the sales growth of the excavator industry, along with excavator bucket adapters, track rollers for excavators and edge cutting machines, in March exceeded expectations. It is expected that the sales of various types of construction machinery will achieve double-digit high growth in the second quarter, and will remain stable throughout the year. There is a rising trend.
