The industry is generally shrinking, why the excavator industry is unique?

[DIG-DOG]

Overall, the strong rise of small and micro excavator, the trend of large excavatorcycle has been laid, the future excavator market is still in the high-speed and high-quality development channel.

In the second half of the year, as the economy continued to recover, investment increased, new and old infrastructure was promoted simultaneously, and excavator sales continued to grow.

From the perspective of its market cycle, the industry has a high probability of continuing positive growth in 2021, exceeding market expectations.

On the one hand, looking back at the development process of the industry in the past 28 years, every negative growth in industry sales is in the context of macro-policy tightening.

On the other hand, this year is the year of the epidemic, the impact on the real economy is also very large, coupled with the complex situation of the global political economy, it is expected that the world will maintain a relatively loose policy environment in 2021.

In the long run, the domestic construction machinery industry itself has room for growth, the head company in the domestic and foreign market share have a significant increase in space, the future head company will be involved in more new categories, will also be the existing advantageous categories at home and abroad to further enhance the share.

In addition, from the research, sales in the first half of this year exceeded expectations from the increase in engineering volume brought about by the new demand, update demand has not yet made force, we believe that the future update demand is still the industry sales to maintain a stable lubricant: ① due to different service life, domestic brands and foreign brands peak update to ensure that the update demand is stable and sustainable. Compared with developed countries, China's non-road machinery emission standards lag behind about 10 years, the future is the trend of tightening.

Therefore, overall, the operating rate and downstream investment data confirm each other, the construction machinery industry is still in a high boom position, it is expected that the excavatormarket will continue to maintain a strong operating trend in the second half of the year, but compared to the first half of the increase will narrow. The production and sales of excavatorthroughout the year may reach a record high.

Construction machinery is one of the important industries of China's machinery industry, and its product market demand is greatly affected by national infrastructure construction, and downstream customers are mainly concentrated in infrastructure, real estate and other investment-intensive industries, which is closely related to the macroeconomic cycle. With the entry of the post-epidemic economic repair period in 2021, at the same time, the "14th Five-Year Plan" is expected to continue to start the construction of major engineering projects, investment in infrastructure is expected to increase, the demand for construction machinery such as excavatorwill continue to increase, and the prosperity of the industrial chain is expected to continue to grow.
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