Excavators maintain a rapid year-on-year growth momentum in January 2021

January 2021 maintained a rapid year-on-year growth momentum. According to data, my country's major hydraulic excavator companies sold 19,601 units in January 2021, a year-on-year increase of 97.15% in the same month, much higher than the -15.4% in January 2020. Excavators achieved substantial year-on-year growth at the beginning of 2021. On the one hand, they were affected by the lower data in January 2020, and they were also continuously driven by the growth rate of domestic infrastructure investment. This growth rate is equivalent to a good start for the excavator industry in 2021, and is expected to consolidate the market's optimism about the prospects of the excavator industry in 2021.

The growth rate of the excavator industry in 2021 is likely to decline to a normal state. The peak sales season is usually between February and April, and the equipment procurement is generally carried out in the early stage of construction. The brilliant results achieved in January 2021 are mainly due to the fact that my country has maintained a large-scale infrastructure investment in the fourth quarter of 2020 in order to maintain stable economic growth in 2020, which has promoted the continuation of corresponding equipment demand. In February 2021, it will still be affected by a low year-on-year base, and it is expected to continue to maintain a high year-on-year growth rate.

However, the arrival of infrastructure investment has also overdrawn the market's demand for excavator equipment. In addition, my country’s excavator industry in 2020 has continued to rise since March, and the annual sales growth rate in 2020 will be as high as 39%, surpassing the 15.87% in 2019. It has returned to a high growth rate again, but the absolute value rate is still lagging behind 2017 and 2018 77.2% and 47.9% of the total, indicating that the industry growth rate in 2020 is still a rebound, not a reversal of overall market demand. We expect that the growth rate of the excavator industry in 2021 will not continue to maintain rapid growth. Although it is expected to continue to maintain positive growth, the probability of growth will decline to about 15% in 2019.

Therefore, although the year-on-year growth rate of excavators in the first quarter of 2021 is still gratifying due to the low base in the same period of 2020, it is necessary to keep a calm mind about the growth rate of the whole year of 2021.

In terms of exports, the international epidemic has boosted the international competitiveness of my country's excavators. According to the export data of the excavator industry, 3,575 units were exported in January 2021, a year-on-year growth rate of 63.69%, much higher than the 35.32% in the same period in 2020. This is also the highest sales value in January of the past year after the monthly export data of my country's excavators in December 2020 exceeded the 4,000 unit mark, indicating that the monthly export sales ceiling of my country's excavators is rising.

Reason analysis, on the one hand, although the international new crown epidemic is rapidly alleviated due to the advancement of vaccines, it is difficult for the production and sales of international competitors of construction machinery to fully recover in the short term; on the other hand, the increase in the sales ceiling of export excavators also reflects my country The overall competitiveness of the excavator industry continues to rise.