On November 18, 2017, the annual conference of China Excavator Industry with the theme of "Striving for Win-win Cooperation and Striving for Stability" was held in Xuzhou, Jiangsu Province, and Caterpillar, SANY, XCMG, Komatsu, etc. Host manufacturers 2018 excavator growth forecast in the basic 10-30%, the major agencies predict the basic data at about 30%, in contrast more optimistic.
It is expected that sales of digging machines will increase by over 30% in 2018
In early 2017, the market expects sales volume of excavators to increase by 20% in the whole year. From January to October, China sold a total of 112,500 excavators of all kinds, up 98% over the same period of last year. We expect excavator industry to increase 90% YoY in 2017 % Or more, more than 130,000 units.
According to the next year to update and add new demand, digging machine sales in 2018 is expected to grow by more than 30%, higher than market expectations.
Industry gradually entered the era of leading enterprise competition, there is still room for market concentration
At present, there are about 35 mainframe manufacturing companies, with 70 in the peak of the industry, a drop of 50%.
In the past ten years, the market share of the top six enterprises in the excavator market in China increased from 52.87% in 2011 to 65.72% in 2017 (as of the end of October), and the industry concentration has obviously risen.
Trinity excavator
Drivers: Driven by infrastructure investment in real estate, demand for replacement, global infrastructure construction, improved competitive landscape
(1) Domestic Market: Infrastructure Construction Pursue Effective New Demand + Stock Renewal Demand;
(2) Global Market: Driven by the Belt and Road Initiative, the United States has stepped up its infrastructure construction.
(3) The concentration of the industry increased, the leading competitive advantages of the leading enterprises highlighted and the competitive landscape improved.
Construction machinery global leader - the United States Caterpillar: market value of about 540 billion yuan
Caterpillar excavator
Caterpillar 2017 Third Quarter Results: Sales revenue of $ 11.4 billion, an increase of 24%; third quarter 2017 third quarter earnings of $ 1.77, an increase of 269%.
At present, the U.S. market capitalization of Caterpillar is about 81 billion U.S. dollars (about 540 billion yuan), PE level is about 30 times that of 2017 and PB is about 5.2 times.
