The domestic engineering machinery industry ushers in a period of equipment renewal

The domestic engineering machinery industry ushers in a period of equipment renewal

In recent years, with the continuous increase in domestic infrastructure investment and the increasingly strict environmental protection policies, the construction machinery industry is ushering in a new round of equipment renewal. According to industry data, the average service life of domestic engineering machinery and equipment in 2023 has exceeded 8 years, close to the renewal cycle. At the same time, the rapid popularization of intelligent and green technologies has further promoted the elimination and upgrading of old equipment. The following are the industry hot topics and related data analysis that have been hotly discussed across the Internet in the past 10 days.

1. Policy-driven: Equipment update demand surges

The National Development and Reform Commission and the Ministry of Industry and Information Technology recently jointly issued the "Implementation Plan for Promoting Equipment Update in the Industrial Field", which clearly proposed to support equipment updates in the fields of engineering machinery, heavy equipment, etc. The policy encourages enterprises to accelerate the elimination of old equipment with high energy consumption and low efficiency through trade-in, financial leasing, etc. The following are the core points of the policy:

2. Market performance: Leading companies have significantly increased orders

According to statistics from the China Engineering Machinery Industry Association, in the first three weeks of April 2024, domestic excavator sales increased by 18% year-on-year, of which the proportion of electrified equipment exceeded 20% for the first time. Leading companies such as Sany Heavy Industry and XCMG Machinery have launched old-for-new promotional activities, and the market feedback is enthusiastic. The following are the recent sales data of major companies:

3. Technology trends: electrification and intelligence become mainstream

Industry technology upgrades are mainly reflected in the following two aspects:

1.Electrification: The battery life capacity has been improved to more than 8 hours, and the charging pile supporting network has been gradually improved, which has promoted the rapid increase in penetration rate of products such as electric excavators and forklifts.

2.Intelligent: Through 5G+ IoT technology, remote monitoring, autonomous driving and other functions have been realized, and some enterprises have carried out pilot projects for unmanned construction scenarios.

4. Challenges and Opportunities

Despite the broad market prospects, the industry still faces problems such as core components relying on imports and imperfect second-hand equipment disposal system. Experts suggest that enterprises need to strengthen collaborative innovation in the industrial chain, and pay attention to the following key directions:

Conclusion

Overall, under the dual driving force of policies and markets, the domestic engineering machinery industry has entered a new round of growth cycle. In the next 3-5 years, the demand for equipment renewal will continue to be released, and enterprises need to seize the opportunities of technological upgrading and green transformation to seize market share.