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Home - News - Construction machinery industry review report: The annual sales growth rate of excavators is expected to be nearly 40%! Sany’s market share of 33% in November hit a new high, maintains “good” rating

Construction machinery industry review report: The annual sales growth rate of excavators is expected to be nearly 40%! Sany’s market share of 33% in November hit a new high, maintains “good” rating

December 14, 2020

event

According to statistics from the China Construction Machinery Industry Association, the 25 excavator companies included in the statistics in November sold a total of 32,000 excavators, a year-on-year increase of 67%; of which 28,000 were domestic, a year-on-year increase of 68%; exports were 3 thousand, a year-on-year increase of 58 %. From January to November 2020, a total of 296,000 excavators were sold, a year-on-year increase of 37%; domestic 265,500 units, a year-on-year increase of 38%; exports of 30,500 units, a year-on-year increase of 29%.

Investment points

The sales of excavators continued to grow rapidly in November, up 67% year-on-year

The year-on-year growth rate in November was 67%, the growth rate in October was 61%, and the monthly growth rate accelerated by 6 percentage points; the year-on-year growth rate from January to November was 37%, and the growth rate from January to October was 35%, and the cumulative growth rate accelerated 2 Percentage points.

Downstream infrastructure and real estate investment continue to be prosperous

From June to October 2020, the cumulative year-on-year growth rates of real estate investment were 2%, 3.4%, 4.6%, 5.6%, and 6.3%, respectively. The year-on-year growth rates for the month were 8.5%, 11.7%, 11.8%, 12%, and 12.7%. , Improving month by month. From June to October 2020, the cumulative growth rate of newly started area of ​​real estate is -8%, -5%, -4%, -3%, -2.6%, and the monthly growth rates are 9%, 11%, 2%, -2, respectively %, 3.5%, the monthly growth rate turned from negative to positive, and the economy rebounded. From June to October 2020, the cumulative investment growth rate of infrastructure investment (excluding electricity) was -3%, -1%, -0.3%, 0.2%, and 0.7%, and the year-on-year growth rates for the month were 7%, 8%, 4%, 3%, 4.5%, a single month maintained a positive growth rate for 7 consecutive months, and the cumulative growth rate continued to increase.

In November, the growth rate of mid-digging continued to pick up, with a year-on-year increase of 120%; the sales of small digging units maintained a high growth

From January to November, the cumulative sales of domestic large, medium and small diggers were approximately 35,000, 70,000, and 161,000, respectively, representing a year-on-year increase of 27%, 45%, and 39%. Among them, the large, medium, and small-sized excavators in November Dig sold 3,600 units, 8,000 units, and 17,000 units, respectively, with year-on-year growth of 47%, 120%, and 55.5%. In November, the domestic sales of large, medium and small digging accounted for 12.5%, 28%, and 60% respectively. Compared with October, the proportion of large diggings fell by 0.4%, medium digging increased by 0.7%, and small diggings fell by 0.3%.

Excavator head brand concentration continues, March 1st November’s monthly market share reached 33% and hit a new high

The high concentration of excavator head brands continues. We estimate that the total market share of the six major companies from January to November is about 75.6%, an increase of 2 percentage points from the whole of 2019. The total market share of the six major companies in the first month of November 78%, an increase of 4.7 percentage points compared with the whole year of 2019, the leading effect trend is obvious. We judge that the top three domestic excavator market shares from January to November are Sany Heavy Industry (27.5%), Xugong Machinery (15.6%), and Caterpillar (10%). Among them, we estimate that the monthly market share of Sany Heavy Industry in November reached 33%, a new high, an increase of about 7 percentage points from the entire year of 2019, and the future market share is expected to continue to increase.

It is estimated that the sales of excavators in 2020 will exceed 320,000 units, and the year-on-year growth rate is expected to be nearly 40%

Real estate infrastructure investment continues to recover, and the demand for artificial replacement, environmental protection and replacement is expected to continue. We predict that the sales of excavators in 2020 are expected to exceed 320,000 units, a year-on-year increase of nearly 40%; the market share of leading companies will continue to increase.

Investment Advice

Continue to recommend the leader of the excavator industry chain in construction machinery. Continue to focus on recommendations: Sany Heavy Industry, Zoomlion, Zhejiang Dingli, Construction Machinery; optimistic about Hengli Hydraulics, Xugong Machinery, Aidi Precision.

risk warning

Infrastructure and real estate investment fell short of expectations; overseas and domestic new crown epidemic risks exceeded expectations. event

According to statistics from the China Construction Machinery Industry Association, the 25 excavator companies included in the statistics in November sold a total of 32,000 excavators, a year-on-year increase of 67%; of which 28,000 were domestic, a year-on-year increase of 68%; exports were 3 thousand, a year-on-year increase of 58 %. From January to November 2020, a total of 296,000 excavators were sold, a year-on-year increase of 37%; domestic 265,500 units, a year-on-year increase of 38%; exports of 30,500 units, a year-on-year increase of 29%.

Investment points

The sales of excavators continued to grow rapidly in November, up 67% year-on-year

The year-on-year growth rate in November was 67%, the growth rate in October was 61%, and the monthly growth rate accelerated by 6 percentage points; the year-on-year growth rate from January to November was 37%, and the growth rate from January to October was 35%, and the cumulative growth rate accelerated 2 Percentage points.

Downstream infrastructure and real estate investment continue to be prosperous

From June to October 2020, the cumulative year-on-year growth rates of real estate investment were 2%, 3.4%, 4.6%, 5.6%, and 6.3%, respectively. The year-on-year growth rates for the month were 8.5%, 11.7%, 11.8%, 12%, and 12.7%. , Improving month by month. From June to October 2020, the cumulative growth rate of newly started area of ​​real estate is -8%, -5%, -4%, -3%, -2.6%, and the monthly growth rates are 9%, 11%, 2%, -2, respectively %, 3.5%, the monthly growth rate turned from negative to positive, and the economy rebounded. From June to October 2020, the cumulative investment growth rate of infrastructure investment (excluding electricity) was -3%, -1%, -0.3%, 0.2%, and 0.7%, and the year-on-year growth rates for the month were 7%, 8%, 4%, 3%, 4.5%, a single month maintained a positive growth rate for 7 consecutive months, and the cumulative growth rate continued to increase.

In November, the growth rate of mid-digging continued to pick up, with a year-on-year increase of 120%; the sales of small digging units maintained a high growth

From January to November, the cumulative sales of domestic large, medium and small diggers were approximately 35,000, 70,000, and 161,000, respectively, representing a year-on-year increase of 27%, 45%, and 39%. Among them, the large, medium, and small-sized excavators in November Dig sold 3,600 units, 8,000 units, and 17,000 units, respectively, with year-on-year growth of 47%, 120%, and 55.5%. In November, the domestic sales of large, medium and small digging accounted for 12.5%, 28%, and 60% respectively. Compared with October, the proportion of large diggings fell by 0.4%, medium digging increased by 0.7%, and small diggings fell by 0.3%.

Excavator head brand concentration continues, March 1st November’s monthly market share reached 33% and hit a new high

The high concentration of excavator head brands continues. We estimate that the total market share of the six major companies from January to November is about 75.6%, an increase of 2 percentage points from the whole of 2019. The total market share of the six major companies in the first month of November 78%, an increase of 4.7 percentage points compared with the whole year of 2019, the leading effect trend is obvious. We judge that the top three domestic excavator market shares from January to November are Sany Heavy Industry (27.5%), Xugong Machinery (15.6%), and Caterpillar (10%). Among them, we estimate that the monthly market share of Sany Heavy Industry in November reached 33%, a new high, an increase of about 7 percentage points from the entire year of 2019, and the future market share is expected to continue to increase.

It is estimated that the sales of excavators in 2020 will exceed 320,000 units, and the year-on-year growth rate is expected to be nearly 40%

Real estate infrastructure investment continues to recover, and the demand for artificial replacement, environmental protection and replacement is expected to continue. We predict that the sales of excavators in 2020 are expected to exceed 320,000 units, a year-on-year increase of nearly 40%; the market share of leading companies will continue to increase.

Investment Advice

Continue to recommend the leader of the excavator industry chain in construction machinery. Continue to focus on recommendations: Sany Heavy Industry, Zoomlion, Zhejiang Dingli, Construction Machinery; optimistic about Hengli Hydraulics, Xugong Machinery, Aidi Precision.

risk warning

Infrastructure and real estate investment fell short of expectations; overseas and domestic new crown epidemic risks exceeded expectations.