An Overview of the Development of Excavators in China (2)

China began to develop and develop excavator products in the late 1960s. After more than 40 years, especially the more than 30 years of reform and opening up, China's excavator manufacturing industry has developed rapidly. According to data from the National Bureau of Statistics, in 2010, there were 252 enterprises above designated size in China's excavator manufacturing industry, with sales of 169.785 billion yuan and product sales profits of 25.367 billion yuan, with a total profit of 21.406 billion yuan, a year-on-year increase of more than 80%.

The Chinese excavator market is growing at an average rate of 30%, becoming one of the largest markets in the world. From the perspective of development, China is in the peak period of infrastructure construction in road transportation, energy and water conservancy, urban construction and other aspects, and the market demand for excavators is increasing year by year. Year-on-year growth reached 74.5%. Until 2010, China has full ability to provide all the necessary electrical parts for excavators.

At the end of 2010, major domestic enterprises expanded their production capacity of excavators one after another, and other companies opened up series of excavators one after another, trying to drive corporate profit growth through the rapid growth of the excavator market. In fact, considering both risk factors and benefits, bank credit was not active in promoting the construction of affordable housing, which indirectly led to the shrinking of construction machinery market sales in the second quarter of 2011. In May 2011, the domestic sales of excavators were 13,956 units, a year-on-year decrease of 12.4%, and the first monthly decrease was a year-on-year decrease; the cumulative sales from January to May was 115,589 units, a year-on-year increase of 38.1%, a decrease of 12 percentage points compared with January-April.

Data show that from January to May 2011, the market share of domestic brands further increased to 37%. Sany Heavy Industry, which ranks first in domestic excavator production capacity, has reached the scale of annual production and sales of tens of thousands of units, while the production capacity of the top four in the industry has reached the level of more than 4,000 units per year. The rate of capacity expansion of other companies is also quite strong. In the next stage, the market share of domestic brand excavators for imported machines and second-hand mobile phones may become the normal. Moreover, China is becoming the biggest aftermarket parts supplying country in the world, from engine spare parts to body parts for excavators.

According to the data disclosed by Construction Machinery Online, as of September 2014, a total of 1,006 mini excavators under 6 tons have been sold, of which foreign brands have a market share of 55.0% and domestic brands have a market share of 45.0%. In addition, the sales volume of excavators above 6 tons was 3,139 units, the market share of foreign brands was 61.0%, and the market share of domestic brands was only 39.0%. According to the data of Sany Heavy Industry, from 2011 to 2013, the domestic market share of the company's excavators reached 11.56%, 15.8% and 13.7% respectively, surpassing Carter and ranking first in the industry. Its market share once again exceeded 15%. Industry insiders believe that the company won the first place this year and achieved the "four-year sales crown" without any suspense.

On the whole, the domestic ownership of excavators is low, but the product price is high. The sales model is mainly based on financial leasing or bank mortgages. Once the credit is relaxed, the sales of excavators will be the best product to rebound. It can be predicted that in 2011-2013, with the recovery of the Chinese economy in the world, the acceleration of real estate and urbanization construction, the sales of excavators of various tonnages will also continue to grow. The machine will grow at a growth rate of over 15%.

As the competition in the excavator manufacturing industry continues to intensify, mergers and acquisitions and capital operations among large excavator manufacturing enterprises are becoming more and more frequent, and domestic excellent excavator manufacturing enterprises are paying more and more attention to the research on the industry market, especially the industry development environment and products. Buyer's in-depth research. It is precisely because of this that a large number of domestic excellent excavator brands have risen rapidly and have gradually become leaders in the excavator manufacturing industry in China and even the world.

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