The construction machinery industry bucked the trend

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The construction machinery industry bucked the trend

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According to the industry statistics of China Construction Machinery Industry Association, from January to December 2021, the 25 host manufacturing enterprises included in the statistics sold a total of 342,800 units of various mining machinery products, of which 274,400 units were sold in the domestic market, down 6.3% year on year; Export sales were 68,400 units, up 97.0% year-on-year.

Although sales showed a year-on-year decline for many consecutive months, the total sales of excavators in 2021 still increased slightly compared with 2020, and reached a new high for four consecutive years, and overseas sales also hit a new record. In this regard, Huang Min, president of the Mining Machinery Branch of the China Construction Machinery Industry Association, concluded that in 2021, the mining machinery industry has delivered an excellent answer in the struggle against the trend.

"In the first few months of 2021, excavator sales maintained growth, but in the second half of the year, sales continued to decline, which once caused concern in the industry." Lu Ying, deputy secretary-general of the China Construction Machinery Industry Association, told reporters that now, the sales of excavators in 2021 are not bad, and the total sales are basically in line with expectations.

Excavator sales are regarded as a weathervane of the construction machinery industry and an economic barometer. In the construction machinery industry, not only the sales of excavators increased, but also the growth of loaders, and only the two categories of truck cranes and pavers declined. It can be said that the overall situation of the construction machinery industry is not bad, and it is completely different from the cycle from 2012 to 2016.

As for the reasons for the formation of a new situation, the analysis said that after the baptism of the last cycle, the construction machinery industry is more mature and more adaptable. The whole industry has a unified understanding that the total size is relatively stable, there can be no drastic changes, so in the expansion of the market, the industry enterprises have done something, to ensure that the industry has not fallen off the cliff, the overall level is still the highest in history.

Specifically, construction machinery enterprises have made market research and judgment in advance, reduced expectations, unified thinking, and made corresponding adjustments in terms of capital investment, feeding, and procurement of purchased parts. Enterprise operating conditions, especially inventory, accounts receivable and other indicators are better than in previous years, and its growth rate is far lower than the growth rate of revenue.

Not only sales have risen steadily, the industrial toughness of construction machinery has also been effectively improved, the industrial structure has been continuously optimized, product quality has been significantly improved, the background color of intelligent and green development has become stronger, and the concentration and ability to resist risks and steadily develop have been continuously enhanced.

More than a decade ago, more than 200 tons of super-large excavators must be purchased from abroad; Today, from 200 tons to 700 tons of super-large excavators, China can manufacture. Xugong Group has successfully developed a 700-ton super-large hydraulic excavator with independent intellectual property rights "four-wheel belt" and carried out trial installation, completely rid of the situation of being subject to others in the past, and achieved tonnage "skip" in just a few years, creating a miracle of industry development.

With the leading scientific and technological strength and excellent product quality, the export growth of construction machinery will nearly double in 2021. In 2021, construction machinery exports are expected to reach $34 billion, with a surplus of about $30 billion. In particular, it should be pointed out that the export of construction machinery industry increased, while the import amount of the whole machine fell by 20%.

In 2022, as a typical investment-dependent and cyclical industry, the construction machinery industry faces many uncertain factors such as intensified competition in complex international trade relations, rising raw material prices, supply chain tension, and emission upgrading.

Cicc expects that the sales volume of China's construction machinery industry will decline slightly year-on-year in 2022. In the medium term, with the support of overseas market expansion and other factors, it is expected that China's annual sales of excavators are expected to stabilize at about 300,000 units in the next three years, and there will be no significant decline, and leading companies are still expected to obtain long-term growth through domestic share improvement and overseas market expansion.

The excavator industry should adhere to the innovation-driven development strategy, focus on "specialization and innovation", accelerate the layout of the industrial Internet, accelerate the digitalization and intelligent transformation and upgrading, and promote the advanced foundation of the mining machinery industry, the modernization of the industrial chain, and the independent and controllable supply chain. By expanding the chain, reinforcing the chain and strengthening the chain, the industry chain cluster with global competitiveness can be formed to rapidly enhance the industrial competitiveness. Strengthen risk awareness, create a good competitive development environment, and achieve high-quality sustainable development of China's mining machinery industry.

For the construction machinery industry as a whole, through its own adjustment, the construction machinery industry has smoothly passed the cycle trough, and will turn into a better situation in 2022. Although the cycle is still there, the industry will follow the trend.

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