After grassroots investigation and market research, CME estimates that the sales volume of excavators (including exports) in November 2022 will be about 25,500 units, a year-on-year increase of 25%. In terms of different markets, the domestic market is estimated to sell 15,500 units, an increase of about 11% year-on-year, and the growth rate of the domestic market has returned to positive; the export market is estimated to sell 10,000 units, an increase of about 25% year-on-year. As a typical investment-dependent and cyclical industry, China's excavation machinery industry is facing many uncertainties such as cyclical market adjustments, the impact of the epidemic, intensified competition, rising prices of raw materials and bulk commodities, escalating emissions, and complex international trade relations. The deadline is approaching, the final sales period of the National Three Machines From December 1, 2022, all non-road mobile machinery produced, imported and sold below 560kW (including 560kW) and the diesel engines installed therein shall comply with the "National IV" emission standards. November is the last month for the sales of China National Sanji. The inventory level of OEMs will have a greater impact on market sales this month. It may be too early to say the inflection point In July 2022, China's excavator sales growth rate turned positive for the first time; in November 2022, the domestic market sales growth rate also turned positive, but this does not mean that the Chinese excavator market turning point has appeared. The switch of emission standards in the short term will directly affect the market sales in the past two months. We must face up to many hidden worries in the current industry: manufacturers' revenue and net profit have fallen sharply, various forms of price competition have intensified, and channel blood loss is obvious; end users are facing challenges such as fierce competition and difficulty in paying back. Do not take the market share as the first indicator to promote the high-quality and sustainable development of China's excavation machinery industry. There will be some deviations in market forecasts in the short term due to the inventory level and the overdraft of demand for new National IV machines. Transferred from Industry Development Research Network

On December 8, Soochow Securities released a research report on the machinery and equipment industry. The report pointed out that the sales volume of excavators in November was +16% year-on-year, and the domestic market is expected to recover. The specific contents of the report are as follows: In November, the sales volume of excavators increased by 16% year-on-year, and the domestic market turned positive and the industry is expected to pick In November 2022, the sales volume of the excavator industry will be 23,680 units, a year-on-year increase of 16%, which is 25% lower than the previous CME forecast. Among them, the sales volume in the domestic market was 14,398 units, a year-on-year increase of 3%, which was lower than CME's previous expectation (+11%), and a quarter-on-quarter increase of 27%, showing a significant marginal improvement in sales. The export sales volume in a single month was 9282 units, a year-on-year increase of 44%, maintaining a high-speed growth. The sales volume of the industry continued to turn positive in November, mainly due to (1) the switching of the National IV standard in December 2022, OEMs clearing the inventory of the National III, and the price of the National IV equipment is higher, and users purchase machines in advance, (2) The globalization logic of domestic manufacturers is fulfilled , exports continued to be strong. From January to November 2022, the cumulative sales volume of the excavator industry was 244,477 units, a year-on-year decrease of 23%. Among them, the sales volume in the domestic market was 145,742 units, a year-on-year decrease of 44%; the export sales volume was 98,735 units, a year-on-year increase of 65%, accounting for 40% of the total sales volume. As the base declines, the growth rate of the industry is expected to maintain positive growth, and internationalization will become a bright spot in the future. The domestic market is stabilizing, and globalization is entering a cashing period. The industry is expected to stabilize and recover in 2023

​Excavator sales figures for 2021 are out. Despite consecutive months of year-on-year declines, the 340,000 total sales were still a slight increase from the previous year. Among them, the volume of exports doubled year-on-year. Based on the annual data, a total of 342,800 excavators were sold from January to December 2021, with a year-on-year growth of 15,200 units, or 4.63%. Among them, 274,400 units were sold in China, down 6.32% year-on-year; Exports were 68,400 units, up 97 percent year-on-year. According to the statistics of China Economic Research Institute in 2020, Chinese excavators have been exported to 188 countries or regions, mainly including Belgium, the United States, Thailand, Indonesia, the Philippines and so on. It is the fourth year in a row that excavator sales have hit a record. The sales volume of excavators was 203,000 units in 2018 and 235,700 units in 2019, increasing to 327,600 units in 2020. The sales volume of excavators in 2021 reached a peak in March, with 79,000 excavators of all kinds sold by excavator manufacturers according to the association, up 60% year on year. About 46,600 units were sold in April, up 2.52 percent year on year, a sharp decline in growth; Back-to-back year-on-year declines began in May. Construction machinery is one of the important industries in China's machinery industry, whose product market demand is greatly affected by national infrastructure construction. Downstream customers are mainly concentrated in infrastructure, real estate and other investment-intensive industries, which are closely related to the macroeconomic cycle. Excavators are widely used in water conservancy, power, road and other infrastructure construction, as well as real estate development, mining and other fields. The sales volume of excavators is regarded as a weathervane of the construction machinery industry and an economic barometer. Last year, the excavator market as a whole was affected by the downward cycle of the industry, and the sales volume was poor. CDB Securities pointed out that since 2021, the growth rate of infrastructure investment has been lower than market expectations, and the new housing construction area has declined year-on-year, which has had a large negative impact on the domestic demand for construction machinery. It is expected that the growth rate of infrastructure investment will pick up in 2022, which will help boost the demand for construction machinery. In the short term, the construction machinery industry is affected by weakening domestic demand and rising costs, and profitability has declined. China Development Securities analysis said that in 2022, China's economy still has some downward pressure, the task of supporting the bottom of the economy may fall on investment again, considering the current "14th Five-Year Plan" some major projects are gradually implemented, 2022 special bond issuance in advance and speed up, infrastructure investment will gradually increase. According to the judgment of CDB Securities macro group, infrastructure investment is expected to increase by about 6% in 2022. The recovery of infrastructure investment growth is conducive to boosting the domestic demand for construction machinery. With the continuous improvement of domestic brands' market competitiveness and the increasingly perfect distribution of overseas channels, the export market is expected to continue high growth. Cicc expects China's construction machinery industry to experience a slight year-on-year decline in sales volume in 2022, mainly reflecting the impact of declining real estate fixed-asset investment. In the medium term, with the support of overseas market expansion and other factors, it is expected that the annual sales volume of excavator in China is expected to stabilize at about 300,000 units in the next three years, and there will not be a sharp decline. Among them, leading companies are still expected to achieve long-term growth through domestic share increase and overseas market expansion.

The reporter recently learned from the Ministry of Industry and Information Technology, since the 18th National Congress of the Communist Party of China, China's construction machinery industry manufacturing technology, process and equipment level has been continuously improved, the domestic market to meet the rate of more than 96%, effectively support the national economic sector construction needs. The product system is continuously enriched. China has formed 22 categories of construction machinery products, becoming one of the countries with the most complete product categories and varieties. The domestic market for construction machinery has increased from less than 90% in 2012 to over 96% now, and the output of major products such as excavators, cranes and loaders ranks first in the world. The level of technology has been greatly improved. A number of major equipment, such as 16m-class super-large diameter shield tunneling machine, 700-ton excavator and 4,000-ton crawler crane, have been successfully developed and applied. 2 meters and above large hydraulic rotary drilling rig to achieve mass production. The domestic market share of roadheader is more than 90%. The competitiveness of enterprises continues to increase. Ten companies are among the top 50 global construction machinery manufacturers. In Jiangsu, Hunan, Shandong, Guangxi and other places have formed a number of construction machinery industry clusters with obvious scale effect and strong industrial chain mobility. International development has accelerated. The company has realized the transformation from the internationalization of R&D and production to the internationalization of brand and management system. The products are exported to more than 210 countries and regions worldwide, and the export and overseas revenue account for more than 30%. In 2021, imports and exports of construction machinery products totaled 37.75 billion US dollars, with a trade surplus of 30.3 billion US dollars. Ministry of Industry and Information Technology said that the next step, will focus on improving the construction machinery industry innovation system, reinforcing the short board, forging long board, strengthen the basic capacity construction; Relying on the development of advanced manufacturing clusters and national demonstration bases for new industrialization, we will modernize the industrial chain. We will vigorously develop a new generation of construction machinery, and accelerate the development of construction machinery towards intelligent, digital, green and networked directions. (Reporter Wang Zheng)

The reporter recently learned from the Ministry of Industry and Information Technology, since the 18th National Congress of the Communist Party of China, China's construction machinery industry manufacturing technology, process and equipment level has been continuously improved, the domestic market to meet the rate of more than 96%, effectively support the national economic sector construction needs.

According to the statistics of China Construction Machinery Association, in October 2022, 26 excavator manufacturing enterprises sold 20,501 excavators of various types, an increase of 8.1%, including 11,350 domestic excavators, a decrease of 9.91%. Exports were 9,151 units, up 43.8 percent year-on-year. From January to October 2022, 220,797 excavators were sold, down 26% year-on-year; Among them, 131,340 units were sold in China, down 46.4% year on year. Exports reached 89,457 units, up 67.3 percent year-on-year.