Affected by the global epidemic, the first quarter of 2020 report of major global construction machinery manufacturers was postponed. In recent weeks, most companies have released quarterly reports. According to the report, in the first quarter of 2020, the performance of major construction machinery manufacturers such as Europe and the United States declined significantly, and many companies canceled their expectations for full-year performance in 2020.
Caterpillar, the world's largest construction machinery manufacturer, sales in the first quarter of 2020 fell 21% year-on-year to US $ 10.6 billion, of which construction machinery sales were US $ 4.306 billion, a year-on-year decline of 27%; mining machinery sales were US $ 2.084 billion, a year Down 24%. The main reason for the decline in sales came from the decline in end-user demand and the impact of changes in agent inventory.
China is the world's largest construction machinery market. In 2020, the heat here will not increase but increase.
Caterpillar's global business has declined, but China's business is likely to increase rather than increase. In the first quarter of 2020, Caterpillar's China excavator industry rebounded at full speed. In March alone, excavator sales reached 49,408 units; many users at the door of the enterprise have queued up in short supply.
Swedish manufacturer Volvo Construction Equipment has not been affected. In the first quarter of 2020, its construction machinery sales fell 17% year-on-year. In China, Volvo Construction Equipment has cooperated with Shandong Lingong early on, and Shandong Lingong has brought considerable sales to Volvo Construction Equipment every year. In the first quarter of 2020 alone, the sales volume of equipment produced by the Shandong Lingong brand for Volvo construction equipment reached 9,332 units, of which 8,520 units were sold in China.
Losing the Chinese market, European and American construction machinery manufacturers will face greater pressure and challenges.
