Compression in the most urgent construction period

2022-08-03
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Construction period compression and policy driving drive the construction machinery market to boost up

construction period compression and policy driving drive the construction machinery market to boost up

China Construction Machinery Information

recently, the news about the price rise of excavators spread all over the circle of friends, with small excavators up 10% and medium and large excavators up 5%. Sany Heavy Industry, XCMG and other key enterprises have disclosed the price increase information in the form of letters to users, which have been forwarded by relevant media and attracted more attention. According to the current public reports, the following information has been sorted out for the reference of colleagues in the industry

the sales volume of excavators in China reached a new record

according to the statistical data released by China Construction Machinery Industry Association, in March, 2020, a total of 49408 excavators of various types were sold nationwide. In March last year, the sales volume of excavators in China reached the highest record of 44278 sets at that time, and the latest data this year increased by 11.6% on the basis of the original record. The data shows that among the 49408 mining machinery products sold in March, 46610 were sold in the domestic market, accounting for the vast majority, with a year-on-year increase of 11.2%; The export sales volume was 2798 sets, a year-on-year increase of 17.7%

excavators are regarded as the wind vane of the construction machinery industry. Previously, in January and February this year, the sales of excavators in the domestic market were 7758 and 6909 respectively, a year-on-year decrease of 23.5% and 60% respectively. The recovery of excavator sales in March not only conforms to the objective law of the increase in construction after the weather turns warm, but also reflects that the impact of the epidemic tends to dissipate, the demand is released and accelerated

according to the Research Report of Guoyuan securities, from the perspective of excavator sales structure in March, the year-on-year growth rates of large/medium/small excavator sales were 3.66%, -0.03% and 18.49% respectively, of which the growth rate of small excavator sales was particularly prominent. These products are mainly used in rural construction, housing reconstruction and other sites with small investment. They have high sales elasticity and respond most quickly to the resumption of work

excavator market competition pattern

according to the market share, the top five excavator sales enterprises in March were Sany, XCMG, caterpillar, Shandong Lingong and Liugong. What is worth noting is that Zoomlion has made rapid progress, and its market share is on the list

from the perspective of competition pattern, the market concentration of excavator and the proportion of domestic capital have further increased. In March, CR3, Cr5 and CR10 of the excavator industry were 51.94%, 68.53% and 87.75% respectively, with year-on-year increases of 2.40, 3.58 and 2.26 percentage points respectively. In March, domestic brands in the excavator industry accounted for 69.91%, up 8.49% year-on-year. Among foreign brands, European and American brands, Japanese brands and Korean brands accounted for 13.07%, 8.56% and 8.46% respectively, with a year-on-year decrease of 0.84%, 4.44% and 3.21% respectively

the proportion of the top five enterprises in excavator sales in March is: (1) Sany: Sales: 12800 damaged components will change color, blister or appear scorched spots; Burned out devices will produce some special odor; Short circuited chips will burn; With the naked eye, you can also inspect the faulty welding or desoldering places, ranking first in the industry, with a year-on-year increase of 14.20%, a market share of 25.91%, and a year-on-year increase of 0.59%. (2) XCMG: 8403 sets, ranking the second, with a year-on-year increase of 34.71%, a market share of 17.01% and a year-on-year increase of 2.92%. (3) Caterpillar: 4459 sets, the third, slightly decreased by 0.67% over the same period of last year, with a market share of 9.02% and a year-on-year decrease of 1.11%. (4) Shandong Lingong: 4102 sets, the fourth, with a year-on-year increase of 55.20%, a market share of 8.30%, and a year-on-year increase of 2.33%. (5) Liugong: 4096 sets, the fifth, with a year-on-year increase of 24.69%, a market share of 8.29% and a year-on-year increase of 0.87%

in addition, Zoomlion sold 1392 excavators in March, accounting for 2.82% of the market. After the earthwork business starts again in 2019, the growth trend is gratifying

the epidemic has reduced the construction period of infrastructure and increased the investment intensity.

the COVID-19, which continued to spread before the Spring Festival, has had a great negative impact on China's macro-economy. The pressure on the government to stabilize growth throughout the year has increased. Infrastructure is expected to become an important means of counter cyclical regulation. Since the outbreak, the Ministry of Finance and the national development and Reform Commission have revealed that they will expand the scale of special real estate bonds. The special bond is expected to tilt towards infrastructure projects in terms of scale and structure, driving the growth of infrastructure investment throughout the year

generally speaking, the capital construction starts after the Spring Festival. However, affected by the epidemic this year, the actual construction period has been reduced by at least one month. In addition, driven by the policy, the actual investment intensity this year has increased, which has stimulated more work and obtained the certification of the national Institute of justice of the United States. Because the same amount of investment will require more construction machinery and equipment in a shorter construction period, Moreover, some new construction projects need to be started

it is predicted that the annual growth of excavators will be large

some media predict that the annual sales of excavators at home and abroad will have different characteristics: (1) under the background that the average monthly growth rate of infrastructure investment and real estate development investment are 16.73% and 10.84% respectively, considering the demand for upgrading, it is expected that the domestic sales growth will be large. (2) It is estimated that the export will be further reflected from the second quarter 1 To keep the material testing machine clean as a whole, the export growth rate has been revised down from more than 30% to 20%, and now it may be further reduced to zero growth. The implicit assumption here is that the overseas epidemic can be controlled before the end of the second quarter, and the overseas market will gradually return to normal in the third and fourth quarters. In 2019, the domestic sales, export sales and total sales of the excavator industry were 209100, 26600 and 235700 units respectively. It is estimated that the domestic sales, export sales and total sales of the excavator industry will be 236600, 26600 and 256600 units respectively in 2020, with a year-on-year increase of 8.87%

prediction of excavator sales volume in April: since March 15, the sales volume has increased rapidly, and some models have begun to be out of stock. Under the condition that the resumption rate of key projects is basically in place, it is expected that the excavator sales volume in April will be the same as that in March, which will be historic, because March was the highest in previous years, and April this year may also be the highest. It is expected that the excavator industry sales volume in April will increase by about 55% year-on-year

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