According to the industry statistics of China Construction Machinery Industry Association, 18964 mining machinery products were sold in October 2021, a year-on-year decrease of 30.6%. The excavator sales volume has shown negative growth for 6 consecutive months (year-on-year), and the decline has expanded to more than 30% for the first time.
From January to October 2021, 298302 excavators were sold, with a year-on-year increase of 13.1%; Including 244920 sets in China, with a year-on-year increase of 3.47%; 53382 sets were exported, a year-on-year increase of 96.8%.
In the domestic market, from January to September 2021, the high level of real estate investment fell, and the cooling of real estate sales prosperity restrained the willingness and ability of real estate enterprises to acquire land and start construction. In October, real estate investment continued to decline and infrastructure investment was weak. According to the statistics of the third party, a total of 6254 projects were started in 25 provinces (cities and districts) in October 2021, with a month on month decrease of 7.3%; The total investment was 31465 billion yuan, a month on month decrease of 25.4% and a year-on-year decrease of 2.3%. Affected by National Day holidays and other factors, the number of projects started and the amount of investment in October decreased month on month. Statistics show that in October, only Henan, Hunan and Sichuan provinces held the provincial project centralized commencement ceremony, with the commencement investment of 464.7 billion yuan, 302.7 billion yuan and 107.9 billion yuan respectively.
Affected by the above factors, the sales volume of excavators in the domestic market in October 2021 was 12608 units, a year-on-year decrease of 47.2%, the largest decline this year.
In contrast, exports continued the growth trend in October, with sales reaching 6356 units, a year-on-year increase of 84.8%, becoming the highest month of sales and exports since 2021. At present, there is an obvious inflection point in the overseas epidemic situation. The epidemic situation in major countries in Europe and the United States is slowing down, and the overseas economy may usher in the repair period again. Considering that the competitiveness of domestic export excavator products is becoming stronger and stronger, it is more likely that the year-on-year growth rate of excavator export sales will maintain a high point.
In terms of tonnage structure, the sales volume of large excavation (≥ 30t) in October was 1775 units, a year-on-year decrease of 42.3%; The sales volume of medium excavation (20 ~ 30t) was 3069 units, a year-on-year decrease of 52.6%; The sales volume of small excavation (< 20t) was 7764 units, a year-on-year decrease of 45.9%. The total domestic sales volume of large, medium and small excavation decreased by 47.2%, of which the decline of medium excavation was the most obvious. At the same time, the three models showed negative growth year-on-year, and the decline was more than 40%.
The proportions of large excavation, medium excavation and small excavation in that month were 14%, 25% and 62% respectively. Among them, the sales volume of small excavation accounted for more than 60% for the second consecutive month, and the sales volume of medium excavation decreased.
It is reported that by the end of November, the issuance of new special bonds in 2021 will be completed, the pulling effect on infrastructure will begin to appear, the growth rate of infrastructure investment is expected to rebound, supporting the economy, and will strongly support the promotion of major infrastructure projects in the fourth quarter of this year and the first quarter of next year. It is expected that the domestic demand for excavators will improve by the end of the year.
