Industry Hotspot - 22.04.2024
-Policy Driving: The construction machinery industry may initiate a replacement cycle due to policy incentives.
On April 12th, several individual stocks in the construction machinery sector were actively traded, with Jianshe Machinery, XCMG, Jifeng Technology, and Zhejiang Dingli leading the gains. In recent news, the Ministry of Housing and Urban-Rural Development issued the “Implementation Plan for Promoting the Renewal of Construction and Municipal Infrastructure Equipment” (referred to as the “Implementation Plan” below). Analysts suggest that the domestic construction machinery replacement cycle is set to begin, and the industry cautiously anticipates the resulting market recovery effect.
-Electric Wheel Loader Sales Reach New Heights as Multiple Companies Expand Their Presence
Under the guidance of environmental policies, the electrification process in the construction machinery industry is accelerating. As a crucial product category within this industry, electric wheel loaders have consistently attracted attention. Despite an overall decline in wheel loader sales in March, electric wheel loaders have stood out remarkably, achieving sales of 686 units. Notably, electric wheel loader sales defied the trend, experiencing a staggering 308.33% year-on-year growth.
-March Excavator Domestic Sales Exceed Expectations, Clear Signs of Recovery
According to data from the China Construction Machinery Industry Association, sales of various types of excavators in March 2024 reached 24,980 units, representing a 2.34% year-on-year decline. However, the domestic market saw a remarkable 9.27% growth, with 15,188 units sold. This surge has brought sales levels back above the 15,000-unit threshold, signaling an impending turnaround in the market.
