1. The status quo of the construction machinery market
In the first half of 2020, due to the impact of the new crown pneumonia epidemic, the overall operating rate of infrastructure across the country is insufficient, and the overall operating rate of construction machinery stock is not high, which has brought short-term adverse effects on the upstream and downstream of the construction machinery industry.
The sales of the main products of construction machinery in the industry in the first quarter were far below expectations, and the sales in the second quarter compensated for the gap between sales in the first quarter and expectations. In the first half of the year, sales showed a trend of low before and high. The demand brought by the resumption of work and production in China, infrastructure, and real estate is the main factor driving the rebound in construction machinery sales in the second quarter. From April to June, excavators, truck cranes, truck-mounted cranes, forklifts, road rollers, and lifting operations Sales of platforms and aerial work vehicles hit the highest level in the same period in history.
The 25 excavator manufacturers included in the statistics in August 2020 sold a total of 20,939 excavators of various types, a year-on-year increase of 51.3%. Domestic excavator sales have maintained a year-on-year growth rate of more than 50% for five consecutive months. The total sales in the first eight months of this year accounted for 89.3% of the total sales in 2019. The sustained high growth of domestic excavator sales is mainly driven by the increased counter-cyclical adjustments after the epidemic, the significant increase in infrastructure investment, the strong resilience of real estate investment, the replacement of machines, the elimination of environmental protection upgrades, and the continued demand for natural renewal.
It is expected that as the construction of the "two new and one high" construction continues in the fourth quarter, a number of major and large projects have been implemented one after another, the construction machinery industry will continue to maintain a high boom, and the growth momentum is expected to continue.
2. Digital and intelligent equipment exerts force
In the domestic and international markets, the needs of construction machinery users for equipment are constantly diversifying, and it is an inevitable choice for construction machinery to become intelligent in the future. Japan's Komatsu Manufacturing Co., Ltd. announced last year that it will start a verification test for construction machinery that uses artificial intelligence to achieve autonomous operation, and strive to achieve commercialization in 2021.
In the tide of international construction machinery powerhouses competing to develop digital technology, Chinese companies are also rising. For example, 5G remote driving, many companies such as Sany, Liugong, Shantui, Zoomlion, etc. have demonstrated 5G remote control technology. Some intelligent construction machinery with functions such as auxiliary operation, unmanned driving, status management, fleet management, safety protection, special operations, remote control, fault diagnosis, life cycle management, etc., have been practically applied, and have solved some problems in construction. Difficult problem.
At the same time, in order to meet the needs of economic construction for major engineering and technical equipment, a batch of high-end engineering machinery and major technical equipment was born in China. Major technical equipment such as large shield machines, large all-terrain cranes, two-wheeled slot milling machines, super-large excavators, high-performance all-terrain engineering vehicles, high-speed wheel excavators, and super-large flat-top tower cranes participated in major projects at home and abroad Construction has effectively improved the level and status of my country's construction machinery.
Up to now, the industry's digital and intelligent engineering equipment has achieved great results on the basis of early-stage innovative research and development. Due to the continuous improvement of design, manufacturing, test and inspection capabilities and levels of some core components, new progress has been made in realizing import substitution. At the same time, in general, the level of digitalization, greening, and complete sets of some products needs to be improved, and some large-scale equipment and core components still have insufficient market competitiveness. Enterprises should seize the opportunity to improve their independent research and development capabilities and keep pace with the times.
3. Expected continuation of high prosperity
In 2020, the domestic construction machinery market demand will grow steadily. According to the "14th Five-Year Plan" of China's construction machinery industry, it is estimated that from 2021 to 2025, the industry's average annual growth rate will reach 5%. At the same time, according to the announcement on August 7, the China Securities Regulatory Commission issued the "Guidelines for Public Offering of Infrastructure Securities Investment Funds (Trial)", it will also provide support for expanding financing channels for infrastructure projects and reducing financing costs. Therefore, the financing environment has improved, the growth rate of infrastructure investment has increased, and the construction machinery industry is expected to continue the high boom.
