the construction machinery industry maintains stable growth in domestic demand

Release date 2024-11-21 15:45:58 Reading 1

　　used excavatorThe construction machinery industry maintains stable growth in domestic demand and resilience in external demand

　　According to statistics from the China Construction Machinery Industry Association, in October 2024, major excavator manufacturers sold 16791 units of various types of excavators, a year-on-year increase of 15.1%; used excavatorAmong them, the domestic sales volume was 8266 units, a year-on-year increase of 21.6%; The export volume was 8525 units, a year-on-year increase of 9.46%.used excavator In October, major loader manufacturers sold 8355 units of various types of loaders, a year-on-year increase of 11.1%; Among them, the domestic sales volume was 4032 units, a year-on-year decrease of 7.08%; The export volume was 4323 units, a year-on-year increase of 36%.

　　used excavatorLange's review:

　　From the year-on-year sales data of excavators, the sales volume of excavators in October 2024 increased by 15.1% year-on-year, with a year-on-year growth rate 4.3 percentage points larger than the previous month, and a continuous positive year-on-year growth for 7 months (see Figure 1 for details); Among them, domestic sales have been increasing year-on-year for 8 consecutive months. In October, the domestic sales of excavators increased by 21.6% year-on-year, an increase of 0.1 percentage points compared to the previous month; Exports have been growingused excavator year-on-year for three consecutive months, with a year-on-year increase of 9.46%, and the year-on-year growth rate has expanded by 6.95 percentage points compared to the previous month. From the perspective of monthly excavator sales, excavator sales in October increased by 6.1% compared to the previous month, but the month on month growth rate narrowed by 2.0 percentage points compared to the previous month; Among them, the sales volume of domestic excavators has increased month on month for three consecutive months, rising to a level of over 8000 units. The monthly domestic sales volume increased by 8.6% month on month, and the month on month growth rate narrowed by 5.1 percentage points compared to the previous month; During the same period, the export market for excavators has continued to rise for three consecutive months, with export sales rebounding to a level of over 8500 units. The monthly export sales increased by 3.7% compared to the previous month, and the month on month growth rate expanded by 0.3 percentage points compared to the previous month.

　　used excavatorused excavatorMeanwhile, during the same period, the sales volume of loaders also achieved seven consecutive months of year-on-year positive growth. In October 2024, the sales volume of loaders increased by 11.1% year-on-year, with a year-on-year growth rate expansion of 6.12 percentage points (see Figure 2 for details); Among them, the sales volume in the domestic market has been negative year-on-year for two consecutive months, with a year-on-year decrease of 7.08%, and the year-on-year decrease has expanded by 2.01 percentage points; Export sales increased by 36% year-on-year, with a year-on-year growth rate expanding by 18.9 percentage points, achieving a continuous positive growth trend for 8 months. From the perspective of monthly loader sales, loader sales in October increased by 3.5% compared to the previous month, with domestic loader sales rising by 0.2% compared to the previous month, transitioning from a decrease to an increase on a month on month basis; During the same period, the export market for loaders also shifted from a decrease to an increase, with a month on month increase of 6.7%.

　　From the monthly sales data of excavators and loaders, the proportion of excavator exports continued to decline to 50.8% in October, while excavator export sales continued to rise month on month; The export proportion of loaders has rebounded to 51.7%, and the export sales volume of loaders has also increased from a decrease to an increase compared to the previous period; This indicates that the construction machinery industry is showing a trend of "stable growth in domestic demand and resilience in external demand"

　　From the demand side of the construction machinery industry, infrastructure and real estate are its main downstream demand sides. For the infrastructure industry, the concentrated construction of projects in various regions has been quite obvious since the beginning of this year, but the availability of funds is still the main factor restricting the progress of project construction. According to incomplete Tengjing, from January to October, a total of 4551.4 billion yuan of new local bonds were issued, with a completion rate of 98.5%. After the concentrated issuance in August and September, it is already faster than 95.7% of the same period last year; Among them, the issuance of new special bonds reached 3896.5 billion yuan, with a completion rate of 99.9%, significantly higher than the average of 90.6% in the same period of the past three years. According to the budget arrangement at the beginning of the year, there is only a limit size of 68.6 billion yuan left for local bonds within the year. According to the issuance plans announced by various regions, the planned issuance scale of new local bonds in November and December is 158.2 billion yuan, with a planned repayment scale of 170 billion yuan, and the total issuance scale is only about 330 billion yuan. With the arrival of the "Beginning of Winter" solar term, the traditional off-season effect of construction will gradually spread from north to south, and the intensity of outdoor construction in various regions will also weaken. From this, it can be seen that although the issuance of special bonds is nearing completion, the use is not yet fully utilized, which will still provide a certain degree of impetus for the commencement and construction of major projects. However, with the transition from peak to off peak seasons, the physical workload of projects will gradually decrease.

　　The current real estate market is still undergoing adjustment, used excavatorso in order to stabilize the real estate market, the central and local governments have introduced a series of policy measures in the past two years to stabilize the real estate market and promote its healthy development. In the first three quarters, these policies have played a positive role in promoting the real estate market to stop falling and stabilize. From the perspective of real estate development investment, although it was still negative at 10.1% from January to September, the decline has slightly narrowed compared to January to August. The decline in sales area of newly-built commercial housing has narrowed by 1.9 percentage points compared to the first half of the year, and it has been narrowing for four consecutive months. The sales amount has been narrowing for five consecutive months. In addition, relevant central departments support real estate enterprises to enhance liquidity, so real estate development enterprises have received funds this year. The decline rate from January to September has also narrowed, with a decrease of 2.6 percentage points compared to the first half of the year, and the decline rate has narrowed for six consecutive months. With the introduction and implementation of a package of real estate policies, the real estate market should maintain an optimistic attitude in the later stage. Recently, the sales side of the real estate market has shown a clear trend of recovery, with "Silver Ten" becoming "Gold Ten". However, the short-term impact on investment and new construction is still relatively limited.

　　At present, used excavatoralthough the issuance of special bonds is nearing completion,used excavator the unused funds still provide a certain driving force for the commencement and construction of infrastructure projects. At the same time, the overall real estate market is still undergoing adjustment, and policy incentives are still in the process of being implemented and effective. Whether the recovery trend of the sales side can continue will become the focus of attention. In the short term, there is still a certain periodicity in the driving force of "new construction and investment", and with the transition from traditional peak and off seasons, terminal demand will gradually weaken. At the same time, equipment update policies in various regions are accelerating their "sinking", and equipment updates for construction machinery production enterprises may enter the "acceleration period" at the beginning of the new update cycle

　　used excavatorConstruction machinery is a key equipment that supports infrastructure construction and real estate development. With the acceleration of urbanization and the increase in global infrastructure projects, the demand for heavy machinery such as excavators, cranes, and bulldozers remains strong. The industry is undergoing a transformation towards automation, electrification, and intelligence to improve construction efficiency, reduce operating costs, and minimize environmental impact. Meanwhile, the application of remote monitoring and predictive maintenance technology used excavatorhas improved the reliability and service life of machinery.

　　used excavatorIn the future, the construction machinery industry will place greater emphasis on technological innovation and sustainability. Electric and hybrid machinery will gradually replace traditional fuel powered equipment to reduce carbon emissions. Intelligent machinery will integrate more sensors and AI algorithms to achieve autonomous operation and optimized scheduling, reducing manpower demand. In addition, the application of 3D printing technology in the construction field will drive the transformation of engineering machinery design and manufacturing methods, improving construction accuracy and flexibility. At the same time, the concept of circular economy will promote the standardization of the second-hand equipment used excavatormarket and the development of remanufacturing technology.

　　The report on the current situation and future development trends of China's construction machinery industry (2024-2030) released by the Industry Research Network can help investors accurately grasp the market situation used excavatorof the construction machinery industry, make predictions about the prospects of the construction machinery industry for investors, explore the investment value of the construction machinery industry, and provide suggestions on investment and sales strategies for the construction machinery industry.

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