Machinery manufacturing: the sales volume of excavators in February exceeded the expectation, and the domestic brands performed well.
event: on March 7, 2019, China Construction Machinery Industry Association announced the sales volume of excavators in February. In February, 2019, 18745 excavators were sold at home and abroad, a year-on-year increase of 68.7%. Among them, the domestic sales volume was 17286 sets, with a year-on-year increase of 77.73%; The export sales volume was 1459 sets, with a year-on-year increase of 5.19%. In 2019, the excavator sales totaled 30501 sets, with a year-on-year increase of 39.9%
comments: the sales volume of excavators in February exceeded the expectation, and reached a record high in a single month. The market share of domestic leading enterprises has increased rapidly, especially in terms of convenient use and protection. We firmly recommend the leading construction machinery companies, not because we believe that the industry sales will continue to grow at a high speed. Under the background of the increasingly obvious high base effect, the industry sales will eventually slow down in the future; It is because we are optimistic about the optimization of the industry competition pattern, the increase of the market share of leading enterprises, the expansion of globalization, the weakening of the cyclical attribute and the highlighting of value
※ the sales volume of excavators in February exceeded the expectation, and the domestic leading enterprises performed well. ① In February, the sales volume of excavators exceeded the expectation and reached a record high in a single month. We believe that on the one hand, the base was low in February last year; On the other hand, dealers around the country held various orders in February, which warmed up their excellent performance season for a long time in March, and promoted sales in February. In addition, according to the feedback of agents, the channel inventory is at a low level. Under the background of infrastructure improvement and renewal catalysis, downstream demand is still good, and customers are highly motivated to purchase machines. ② The market share of domestic leading enterprises has increased and the fixtures will be damaged: generally, the electro-hydraulic servo universal experimental machine is only equipped with fixtures for standard samples, which is faster and performs particularly well. In February 2019, the year-on-year growth rate of Sany and XCMG excavator sales reached 116.42% and 116.96%, far exceeding the industry growth rate of 69%, and the market share was 26.9% and 11.67% respectively. There were few waste plastic recycling plants, increasing by 5.95pct and 2.6pct respectively year-on-year. While the sales of foreign brands Carter and Komatsu excavator increased by 42% and 28% year-on-year, which was far lower than the industry growth. The market share was 13.16% and 4.19% respectively, down 2.46pct and 1.31pct year-on-year. At present, the market price competition is fierce, especially the small excavation. The domestic brands have obvious cost performance advantages and sufficient stock. Moreover, Sany's market share has increased rapidly due to its high customer recognition of new products
※ the industry concentration has been continuously improved and the market pattern has been further optimized. In february2019, the sales volume of excavators of domestic leading enterprises Sany, XCMG and () were 5060, 2187 and 1089 respectively, and the market share in a single month was 26.99%, 11.67% and 5.81% respectively. The industry concentration began to rise from the bottom in 2012. From 2012 to 2019, the industry CR3 increased from 29% to 52% and Cr4 increased from 37% to 60%. At present, the top four enterprises have exceeded half of the country, and the industry CR10 reached 86%. The industry concentration has been continuously improved, and the market pattern has been further optimized