Triple drop
According to industry statistics from the China Construction Machinery Industry Association, in May 2021, a total of 27,220 sets of various excavation machinery products were sold, a year-on-year decrease of 14.3%. This is the third consecutive month that excavator sales exceeded expectations and the year-on-year growth rate surged to 205.0% in February this year, showing a year-on-year decline in sales. In addition, the sales volume of excavators in that month was also the month of negative growth since February 2020 (-50.5%) year-on-year.
Domestic market: negative growth for two consecutive months
In May 2021, the domestic excavator market sold 22,070 units, a year-on-year decrease of 25.2%. The domestic market sales growth rate has shown negative growth for two consecutive months. Compared with the same period last year that far exceeded industry expectations and maintained a relatively high level of prosperity, the “cooling” in May of this year was significant. Multiple factors caused the domestic sales growth rate to turn negative in the month, including the impact of the 2020 epidemic, which resulted in a significant increase in the base of the same period last year, and the sharp increase in excavator sales in the first quarter of this year, which led to the early release of demand in April and May.
Export market: the growth rate continues to maintain high growth
Different from the weak domestic excavator market, the export sales of excavators in May were strong, with 5150 units, a year-on-year increase of 131.7%. Although the growth rate dropped from the previous month, it continued to maintain high growth and set a record high in May export sales. . The continued high growth of exports is expected to be mainly due to the relief of the epidemic in some overseas regions and the low base last year. In addition, from January to April this year, my country's investment in countries along the Belt and Road increased by 14%, which in turn brought about an increase in engineering projects that also significantly supported the export of excavators.
Tonnage structure: large, medium and small digging growth rates are all negative
From the perspective of the tonnage structure, the sales volume of large digging (≥30t) in May was 2,841 units, down 31.5% year-on-year; the sales volume of medium digging (20-30t) was 6,935 units, down 8.3% year-on-year; the sales volume of small digging (<20t) was 12,294 Taiwan, a year-on-year decrease of 31.0%; the total domestic sales of large, medium and small excavators decreased by 25.2%. This month is the month in which all three models experienced negative growth after a year-on-year growth rate of negative growth in all three models due to the impact of the epidemic in February 2020. Among them, the large-scale and small-scale digging dropped by more than 30%.
In terms of market share, large digging, medium digging, and small digging accounted for 13%, 31%, and 56%, respectively. The market share of China Dig has rebounded, breaking the continuous expansion of the market share of small excavators in the first four months of this year.
According to previous years, the excavator market will gradually enter the off-season in May. However, in the first four months of this year, the national real estate investment increased by 21.6% year-on-year, the infrastructure investment increased by 18.4% year-on-year, and the resilience shown by the continued recovery of overseas economies, downstream industries still maintain a relatively high level of demand for excavators. .
