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Construction machinery industry ushered in recovery growth

- Mar 23, 2018 -

On September 20, at the 2017 China (Beijing) International Construction Machinery Exhibition, Caterpillar's global debut of the new generation of hydraulic excavators attracted the attention of many viewers. On the same day, Caterpillar introduced six smart products and solutions at one go, which became a major highlight of the show.

        This exhibition is the first international large-scale exhibition since the global construction machinery industry recovered. In addition to Caterpillar, more than 1,000 R&D, manufacturing and service organizations from the construction machinery industry including Sany Group, Zoomlion, and XCMG exhibited. Behind the booming popularity is the recovery of the construction machinery industry after a five-year “winter period”.

        According to data from the China Construction Machinery Industry Association, in August this year, major excavator manufacturers sold about 8,700 excavators of various types, and the growth rate remained at 100% for five consecutive months.

        “Despite the depth of adjustments in the past five years, China remains the world’s most important market for construction machinery and remains the largest market for global development.” Qi Jun, president of the China Construction Machinery Industry Association, said at the conference that the world’s mainstream construction machinery is currently Manufacturers have already started business in China, and many have also achieved in-depth localization. Chinese companies have also expanded their product reach from traditional emerging markets to European and American developed countries and regions.

        According to Chen Qihua, Caterpillar’s global vice president and chairman of Caterpillar (China) Investment Company, apart from the cyclical factors, the main factors driving the growth of the construction machinery industry are the national infrastructure construction projects, real estate development, and urbanization. The construction of “One Belt and One Road” and the acceleration of PPP projects have been driven. However, Chen Qihua also said that the current growth characteristics of the market are very different from those of five years ago. The construction machinery industry has entered a new era characterized by smart machines and intelligent services.

        This judgment was approved by Wang Min, chairman of XCMG. He said that in the past five years, the construction machinery industry in China has not taken a step, but has accelerated its layout in the Internet of Things, industrial clouds and smart manufacturing. At this exhibition, XCMG's new products are full of newly developed intelligent products.

        How long can the growth momentum of the construction machinery market be maintained? Chen Qihua said that from next year, the construction machinery industry is expected to enter a sustained and stable stage. In the next two to three years, the construction machinery industry will maintain a relatively stable and stable growth.

        This view also represents the views of many exhibitors. In particular, as China’s economy has stabilized and become more favorable, the confidence of the majority of companies has further increased.

        At present, the field of construction machinery in China is a fully open and free-competing market, and the speed of the survival of the fittest in the industry has accelerated. A person in charge of a construction machinery company in Fujian indicated that with the continuous improvement of national environmental protection requirements, industry emission standards will be put on the agenda before and after 2019.


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