Overview of China's Excavation Machinery Industry in 2022

Excavation machinery refers to construction machinery that is used to excavate materials above or below the bearing surface and load the excavated materials into transport vehicles or unload them to a stockyard. The sales volume of China's excavation machinery industry increased from 90,507 units in 2014 to 203,420 units in 2018, with a compound annual growth rate of 22.4%. It is estimated that by 2023, the sales volume of China's excavation machinery market will reach 317,511 units. In the future, under the background of further improvement of excavation machinery technology, advanced technologies such as intelligent control and power electronics of excavation machinery will gradually mature, and China's intelligent excavation machinery products will be more widely used.

Hotspot 1: China's investment in fixed assets increases, promoting industry development

The downstream construction demand of the excavation machinery industry is mainly concentrated in infrastructure construction, real estate, mining and manufacturing. The increase in fixed asset investment in China can drive the development of the excavation machinery industry. The seven key projects in China's urban municipal infrastructure investment and construction are closely related to the excavation machinery industry, which is a positive driving factor for the excavation machinery industry and stimulates the market demand of China's excavation machinery industry.

Hotspot 2: The "One Belt, One Road” strategy provides good opportunities for the industry

The countries along the "Belt and Road” have become the focus of investment layout of Chinese mining machinery enterprises, and China’s mining machinery industry has ushered in development opportunities. The infrastructure interconnection of countries along the "Belt and Road” has become the premise of infrastructure construction in countries along the route, which has boosted the export sales of China’s mining machinery. demand. China's increasing investment in the "Belt and Road" initiative has helped Chinese construction contractors to expand overseas and promote the export of excavation machinery products.

Hot spot 3: Accelerated integration of mining machinery and the Internet

Under the background of "Internet +" and intelligent manufacturing, Chinese mining machinery enterprises have introduced new-generation information technology application concepts such as big data and the Internet of Things into the development and construction of mining machinery and enterprise operation management through Internet thinking. In the future, as the Internet and big data are gradually applied to the mining machinery industry, the value chain of research, production, supply and marketing services of mining machinery manufacturers is expected to be further improved, and the operating costs of enterprises will be greatly reduced. Therefore, "excavation machinery + Internet" will become one of the future development trends of the mining machinery industry.