Excavators are selling well, increasing production and maintaining supply has become the focus of the industry

According to statistics from the China Construction Machinery Industry Association, in June this year, the 25 excavator manufacturing companies included in the statistics sold a total of 24,600 excavators of various types, a year-on-year increase of 62.9%; in the first half of this year, these 25 companies sold a total of excavators. 170,400 units, a year-on-year increase of 24.2%.

Based on this calculation, the 25 excavator manufacturers sold an average of about 936 new excavators every day in the first half of the year.

The domestic construction machinery industry continues to boom, but the continued spread of the epidemic abroad has caused some suppliers in Europe and the United States to fail to supply key components in a timely manner. Under this situation, how to ensure the timely delivery of products has become an urgent challenge for the domestic industry.

In order to solve the supply problem of construction machinery and alleviate the dependence of key parts of the industry on foreign manufacturers, many major domestic construction machinery manufacturers are accelerating the process of localization of key parts while steadily promoting the resumption of work and production.

Excavator sales also experienced a dismal start at the beginning of the year, but then rebounded quickly and continue to this day.

In February this year, industry excavator sales fell by more than 50% year-on-year, of which domestic sales fell by more than 60%. From January to February, the total sales volume of excavators in the industry was 19,200 units, a year-on-year decrease of 37%.

Since March, due to the continued strong market after the resumption of work and production, domestic excavator sales have grown against the trend, and the off-season sales have shown the characteristics of not weak off-season. In the second quarter, domestic excavator sales increased by more than 60%.

This prompted construction machinery manufacturers to accelerate production. According to CCTV Finance, in the first half of the year, XCMG's (6.490, 0.04, 0.62%) excavator output increased by over 50% year-on-year; Guangxi Liugong's (7.380, 0.15, 2.07%) mechanical excavator output exceeded 20%, and the average monthly output hit a record high new highs.

The China Machinery Industry Federation pointed out that thanks to the recovery and start-up of infrastructure investment and energy construction-related projects, the production and sales of construction machinery and power generation equipment grew rapidly; in the first half of the year, construction machinery products such as excavators, loaders, compactors and concrete machinery Overall growth, the output of excavators and concrete machinery both exceeded 20%.

The construction machinery industry is increasing investment in scientific research, which is also evident from the statistics of industry associations.

Statistics from China Machinery Industry Federation show that since April this year, the year-on-year growth rate of industry R&D expenses has changed from negative to positive. In the first half of the year, against the backdrop of negative growth in industry revenue and profits, R&D expenditures have increased by double digits, and 58.8% of key companies have increased R&D expenditures year-on-year.

Excavators are widely used in infrastructure construction such as water conservancy, electric power and roads, as well as real estate development, mining and other fields, and their sales are regarded as the weather vane and economic barometer of the construction machinery industry.

The sales trend of excavators is also in line with the development trend of the domestic machinery industry. At the beginning of this year, due to the impact of the new crown epidemic, the production and operation of the domestic machinery industry was severely impacted. From January to February, the main economic indicators fell in an all-round way, and gradually stabilized in March.

Construction machinery industry is one of the important industries of China's machinery industry. The market demand of its products is greatly affected by the construction of national infrastructure, and downstream customers are mainly concentrated in investment-intensive industries such as infrastructure and real estate, which are closely related to the macroeconomic cycle.

China Machinery Industry Federation pointed out that with the gradual release of macroeconomic policy effects, the machinery industry demand market will gradually recover in the second half of the year, and the operating environment will continue to improve. However, due to the large instability and uncertainty of the overseas epidemic, the international economic and trade situation has become more severe and complex, and the machinery industry is still facing greater downward pressure.