This year, both in June and January to June, construction machinery sales reached new highs. According to the data performance, the sales of all kinds of excavating machinery products are expected to increase by about 60% year-on-year, while the growth of cranes and concrete machinery is as high as 100%. In the past market, investment in the real estate industry and large-scale infrastructure projects are the two main consumer markets. But in 2018, the year-on-year figures for these two downstream sectors were not as beautiful as they were supposed to be. According to statistics from the National Bureau of Statistics, the growth rate of national infrastructure investment in the first half of this year was 7.3%, which was significantly higher than the growth rate of 21.1% in the same period of last year. However, the current policy intention of the regulator to compress the government's implicit debt has not changed. Or will continue to be under pressure. Who bought the excavator? The reporter found that the trend of mechanical substitution in the rural market appeared, and the proportion of consumer demand driven by it was roughly estimated to be 40%-50%; and the arrival of the inventory market renewal cycle also promoted the various indicators of the construction machinery industry. High innovation. (Lin Hong)
From the data performance point of view, excavator products are expected to increase by about 60% year-on-year, while cranes and concrete machinery increase by more than 100%.
"Since the beginning of the third day of the New Year's Day, the first line of production has basically implemented three shifts to work overtime." On July 17, Sanjing Heavy Industry Group Co., Ltd. (hereinafter referred to as "Sany Group"), Director of the Office of the President, Chen Jing, in the 21st century The economic report reporter described that the construction machinery market continues to improve, so that the company's products are in short supply, and the expected shipment gap is 2 billion to 300 million yuan.
Unlike last year's situation that only excavators "had a red dust", this year's construction machinery market, including cranes and concrete machinery, also hit a record high, the industry is full of red, so that the construction machinery industry boom index is all the way up, staged in the off-season .
What makes the market wonder is that the infrastructure projects and real estate market downstream of the construction machinery industry are not imaginary. On July 17, a researcher from a brokerage institution in Beijing said in an interview that this year, in addition to infrastructure factors, mechanical replacement labor in rural markets. The combination of two major factors, including the emergence of trends and the renewal of the stock market, has pushed the construction machinery industry to record new highs.
out of stock! out of stock! out of stock!
Construction machinery has a strong correlation with other industries, strong driving force, long industrial chain, and great impact on the national economy. It is also one of the barometers of national economic development. In the past market, investment in the real estate industry and large-scale infrastructure projects are the two main consumer markets. But in 2018, the year-on-year figures for these two downstream sectors were not as beautiful as they were supposed to be. However, the construction machinery industry has presented a situation of counter-cyclicality.
On July 17, the country entered the sky, but the hot weather did not resist the heat of the construction machinery market. Hubei Lichi Construction Machinery Co., Ltd. is an agent of Xugong Machinery. It is located in Shiyan City, Hubei Province. At around 9:30 in the morning, the reporter came to the branch. The person in charge Liu Yongjie had already talked with the customer about the order of the excavator. After waiting for 6 minutes, Liu Yongjie is free to receive the next customer.
"This is the normal state of the moment," said Liu Yongjie. On the basis of last year's sales exceeding the highest level in 2011, sales continued to climb this year. Among them, in the second quarter of the industry's off-season, monthly sales in the past two months reached 40-50 units, higher than the average sales in the past.
In the Bailang Economic Development Zone of Shiyan City, the store of Wuhan Jiuzhoulong Construction Machinery Co., Ltd., which is the agent of Sany Heavy Industry Excavator Products, only saw two receptionists busy, “other people are going out to negotiate or follow up the business.†According to the store sales staff, in the past 2 months, the store can sell about 9 excavators every month, which is unexpected.
The sales popularity of the Shiyan market is only a microcosm of the high prosperity index of China's construction machinery industry.
China Construction Machinery Industry Association excavation machinery branch industry data shows that 25 mainframe manufacturing enterprises that were included in the statistics from January to June 2018, sold a total of 120,123 various types of excavation machinery products, a year-on-year increase of 60.0%.
Wind data shows that in the first five months of this year, China's loader sales totaled 49,278 units, 13,461 truck cranes and 3,774 bulldozers, all of which have reached record highs. In other words, after experiencing the bottoming out of 2016, China's construction machinery industry has reached record highs in terms of total sales, sales, and corporate profit margin.
"We have been out of stock for some time." On July 17, Chen Jing said that the gap products mainly include lifting appliances, pump trucks and large excavators.
Rural market force
During the rebound period from 2016 to 2017, excavator products increased significantly, while concrete and crane products increased relatively little.
“This is a normal performance.†The above-mentioned industry researcher also said that the downstream industry generally uses excavators for earth and stone treatment, and then enters the subsequent construction process, so the recovery cycle of subsequent products is relatively lagging. From the data performance point of view, excavator products are expected to increase by about 60% year-on-year, while cranes and concrete machinery increase by more than 100%.
The market with the main position in the countryside is one of the driving forces for China's construction machinery industry to continue to improve. This is also an important factor in the industry's prosperity this year, which is different from the previous round of the rising cycle.
“Before, the road expansion, farmland construction and water conservancy facilities in China's rural market basically depended on labor, but now young rural laborers are seldom willing to do this work, and the labor costs have risen sharply, which has led to the trend of mechanical substitution of labor.†It is estimated that among the many factors in this round, the consumption demand driven by this characteristic of the rural market can be estimated to be 40%-50%.
The above-mentioned sales staff of Shiyan also said that in Shiyan City, with the continuous promotion of the policy of precision poverty alleviation, there are many rural projects, road improvement and road infrastructure improvement, and a large demand for excavators.
The upgrading of the construction machinery industry is another major consumer of the construction machinery industry. The life cycle of general construction machinery products is 8-10 years, and the sales peak of the previous round was concentrated around 2008. In addition, with the tightening of national environmental protection supervision, it has also promoted the upgrading of products. “Taking excavators as an example, the current market holdings are about 1.3 million units, and the cumulative sales volume in 2017 is about 130,000 units. The remaining gap is expected to be gradually replaced in subsequent markets."
Chen Jing believes that the resumption of work including mines, iron ore mines, and the construction of roads and railways in the western region have brought a lot of infrastructure needs. From the perspective of regional concentration, the market in the Yunnan-Guichuan region is the best, followed by the eastern, central, and southern regions, while the markets in the northern first-tier markets, including Northeast, Inner Mongolia, and Xinjiang, are relatively weak.
Taking Shiyan City as an example, the above-mentioned reception staff also said that in the past two years, the Shiyan implementation of the traffic advance strategy, large-scale investment to promote transportation projects and infrastructure construction, the construction of major transportation projects continued to advance, bringing a lot of demand for construction machinery. Excavators sold in Shiyan City are mainly used for these transportation projects and infrastructure projects, such as the construction of Hanshi High-speed Railway Station, Shiwu Expressway, West Ten High-speed Railway Station, rural road security engineering, and urban-rural transportation integration.
Compared with the past, the current industry is healthier. “In 2011, there were more than 100 construction machinery companies and even some consumer goods companies across the country entering the construction machinery market.†On July 17, Chen Jing said that after the last round After the reshuffle, only 20 companies survived, which increased the concentration of the industry. Therefore, it is reflected that each company has more demand for expansion.
 Under the superposition of these factors, the structure of the subdivided products has also quietly changed.
“From the customer base of Sany Heavy Industry, the sales of small excavators account for a higher proportion.†Chen Jing said that large excavators mainly focus on the expansion needs of some enterprises. In terms of pump trucks, the sales of small and low-priced pump trucks are generally larger. In the case of cranes, large-tonnage cranes are mainly used for wind power hoisting, while small-tonnage cranes are more suitable for the general market.
Wind control
However, the fiery market has not allowed the companies in the industry to once again fall into the blindfold of blind expansion and blindly formulate sales strategies.
“Currently, although the enterprises are out of stock, the production capacity has not reached the highest point in history.†The researcher said that the capacity utilization rate of many enterprises is not as high as expected, and some enterprises may be out of stock and may not have enough market forecasts at the beginning of last year. Relevant to accuracy. Despite this, companies are still reluctant to blindly resume production or expand production.
The cautious strategy is also reflected in sales. On July 17, Chen Jing also said that in the pre-sales phase of the product, Sany Group learned about the customer's credit status in advance through the risk control informationization method, and monitored the customer's operation situation at the time of sale, while strictly in the after-sales stage. Control overdue rate, "At present, our overdue rate is less than 2%, very low." Chen Jing said.
Not only that, the zero down payment leveraged sales strategy that has been seen everywhere in the market has basically disappeared. “On the contrary, the down payment ratio is basically controlled at more than 30%, and some are as high as 50%.†The researcher said on July 17 that the account period In terms of management, each company will try to shorten the account period as much as possible, and most of the accounts will not exceed 2 years. Even if some companies gradually adopt low-selling sales strategies to seize the market in the market, other leading companies will basically no longer follow suit.
This cautious and rational sales strategy makes the current market customers relatively high-quality, credit qualifications are much better than before, and it also reduces the bad debt problems that have dragged the industry.
The industry is also relatively cautious about future market predictions. Chen Jing said that the future market is difficult to decline, but it will enter a relatively stable cycle. From the perspective of market segments, excavators and cranes may have entered historical peaks relatively, and concrete machinery has been adjusted most in the last cycle. The peak has not yet been reached and the boom cycle will continue to be longer.
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