Recently, CCTV reported that in addition to industrial investment, infrastructure investment also maintained a rapid growth in the first half of 2021. With the launching of local infrastructure projects, construction machinery and equipment such as excavators and mixers have also ushered in a wave of sales climax. In Hunan Sany Heavy Industry workshop, through the vehicle networking data, it can be seen that 680000 construction machinery and equipment have been networked, and 30% of the equipment are online in real time. In the first half of the year, the infrastructure investment in the Yangtze River economic belt and the central and western regions was very active.
According to the data of the National Bureau of statistics, in the first half of 2021, the fixed asset investment of the whole industry was 43.5 billion yuan, a year-on-year increase of 8.5%. In the first half of the year, infrastructure investment increased by 7.8% year-on-year. In addition, the "14th five year plan" construction drawings for comprehensive transportation development in Shanghai, Hainan, Zhejiang and other places have been released one after another, and the infrastructure investment will be further increased. Based on this, the author believes that under the prospect of continuous improvement in China's epidemic prevention and control and economic operation, infrastructure investment is expected to continue to grow in the second half of the year.
From the monthly market share in the first half of the year, it can be seen that the market share of big dig has been rising steadily since March, and from the inquiry data of Tesco machine, the inquiry volume of big dig in July has also been soaring and has broken 10000. It can be seen that there are signs of explosion in the demand for large-scale excavation recently. The author believes that the main reason behind the increase in sales is the sharp increase in coal demand and tight coal supply. In view of this situation, various national departments require to ensure the supply of coal and ensure the demand for coal, while about 50% of large excavators are used for coal mining, which stimulates the sales of large excavators.
Figure 1: comparison of large, medium and small sales in domestic market from January to June 2021
It is worth mentioning that from the beginning of the year to now, many places are accelerating the construction of various projects, making up for shortcomings, benefiting people's livelihood, stabilizing investment and promoting development. In addition, with the proposal of the national policy of "ensuring supply and stabilizing price", the prices of upstream raw materials, including steel, also began to decline gradually and return to a reasonable range. The decline of raw material prices reduced the construction costs of various projects, improved the development enthusiasm of the construction party, accelerated the commencement speed and improved the commencement demand. At present, with the implementation of infrastructure, real estate and other projects, there is no accident. The small climax of excavator sales from September to October will arrive as scheduled, but the impact of adverse factors such as epidemic situation on the industry will not be ruled out.
Looking back on the 13th Five Year Plan period, the technology of large and super large excavators in China has gradually matured. The R & D of large excavators above 50 tons has achieved the successful application of dual power component coupling control system, intelligent monitoring and fault self diagnosis technology of high-pressure system, modular dual power hydraulic drive system, electronic control hydraulic system, self Replenishing Oil adaptive chassis tensioning system, manufacturing technology of large structural parts, dynamic reliability analysis and optimization design, etc, It supports the mass production and use of large excavators. Even super large hydraulic excavators of more than 100 tons were born, up to 700 tons, and successfully used in the mining field, which solved the needs of China's special construction field.
Figure 2: sales market pattern of domestic brand excavators in 2020
Figure 3: proportion of construction machinery sales during the 13th Five Year Plan Period
However, from the perspective of product structure, in 2020, the sales of large excavation, medium excavation and small excavation were 38455, 77260 and 177149 units respectively, with a year-on-year increase of 28.4%, 49.8% and 38.9% respectively, and the proportion of products was 13%, 26% and 61% respectively. It can be seen from the data that the sales volume of the main models in China is small excavation, and the proportion of large excavation and medium excavation is relatively small. It can be seen from Figure 3 that during the 13th Five Year Plan period, the share of China's excavator sales in the high-end large-scale excavation market needs to be further developed, and the proportion of high-end large-scale excavation is still too low. In short, there is still a certain gap between China's excavation of CUHK and the international leading level, and there is a problem of large but not strong.
Looking back on the past, in the 1990s, China suffered from monopoly in the excavator market, and 95% of the market was occupied by Japanese, Korean and European and American departments. Especially in large tonnage excavators, Chinese manufacturing enterprises have no voice and only import at high prices. Even in the new century, China's excavators with more than 200 tons still rely on imports, and the phenomenon of "neck sticking" in technology still cannot be solved.
To this end, a group of excellent enterprises represented by XCMG and sany began to catch up in the large-scale excavation market, vigorously increase scientific research investment, and constantly expand and deepen the "industry, University, research and application" mode. Around 2010, enterprises began to set up projects and research and development on large excavator projects such as 49 tons, 70 tons, 90 tons, 130 tons, 300 tons and 400 tons. At that time, domestic brands began to show their strength, and there were signs of a hundred flowers blooming and a hundred schools of thought contending. It was not until 2017 that XCMG's 700 ton super large hydraulic excavator went offline that it officially announced that China had completely broken the monopoly in the super large excavation field, mastered a certain voice and began to enter a new stage in the mining field.
It is worth mentioning that XCMG's 700 ton super large hydraulic excavator has realized the localization of key technologies from parts to operating system for the first time, symbolizing the great progress of China's construction machinery industry.
Today, China's excavator industry has occupied an important position in the world construction machinery industry pattern. Many excellent construction machinery enterprises have emerged, such as XCMG, Sany Heavy Industry, Zoomlion, Liugong, Shanhe intelligent, Shandong Lingong and so on. Their high-quality, high-efficiency and high return product quality is deeply recognized by users and is constantly encroaching on the foreign brand market. Based on this, the "14th five year plan" of the construction machinery industry specifically proposes that by 2025, the overall market share of domestic brands in the field of domestic excavators should be maintained at more than 60%, and the market share of high-end large-scale excavation should achieve the goal of breaking through 55%.
More than a decade ago, super large excavators with more than 200 tons had to be purchased from abroad. Today, China can manufacture super large excavators ranging from 200 tons to 700 tons by itself. It has also completed the development of super large hydraulic excavators. It has been used abroad for more than 20 years and only seven or eight years in China. Therefore, in the "14th five year plan" period, domestic brands have unlimited market potential and great potential!
