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The current situation of the construction machinery industry

The construction machinery industry is currently facing multiple challenges, but some areas show signs of recovery. The specific situation is as follows:

1. Market sales have declined significantly

Excavator sales ‌ : year-on-year decrease of 81.3% for the whole year of 2023, and year-on-year decline of 37.7% in August 2024 ‌;

Loader sales ‌ : decreased by 24.8% during the same period, reflecting weak infrastructure demand ‌.

II. Industry dilemmas and constraints

Economic environment under pressure ‌ :

Enterprises lack confidence in investment, government infrastructure investment faces financial pressure, and the cost of urban investment and financing in underdeveloped areas is high ‌;

Serious arrears in project funds ‌ : the collection rate of some projects is less than 10%, resulting in a low willingness to update equipment ‌;

Market competition intensifies ‌ :

The new mobile phone market enters a downward cycle, and manufacturers' price-cutting strategies further squeeze the price space of second-hand mobile phones ‌;

Credit risk rises ‌ : the disappearance of contractors leads to the delay of machinery fees, and the business pressure on practitioners intensifies ‌.

III. Recovery signals and transformation directions

Local data recovery ‌ : In October 2024, the operating rate and working hours of mining equipment saw a significant increase ‌;

The demand for technological upgrades ‌ : The demand for positions in the fields of intelligent manufacturing and industrial robots has soared by 40%, with the monthly salary of algorithm engineers exceeding 31,000 yuan, reflecting the trend of high-end transformation ‌;

Policy support ‌ : the expansion of the tax refund policy for departure ports and the implementation of water conservancy project protection plans may stimulate demand in specific fields ‌.

⚠️ Core Challenge

Short-term pressure ‌ : The triple pressure of contracting demand, difficulty in recovering accounts receivable and price competition persists ‌;

Long-term breakthrough ‌ : Relying on professional niche capabilities (such as intelligent manufacturing), resource integration and capturing policy dividends ‌.