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Construction machinery industry is growing rapidly and will continue to grow in 2019

Jan 15, 2019

Construction machinery industry is growing rapidly 

and will continue to grow in 2019

       Recently, the reporter learned from the Deputy Secretary-General of the China Construction Machinery Industry Association, Lu Ying, that the overall operation of the construction machinery industry in 2018 is very good, and it is expected to maintain its growth momentum in 2019. Lu Ying said that in 2018, the operation of the construction machinery industry can be summarized simply by the words "too hot".

       Due to the low operating base in 2016, the 2017 and 2018 two years showed a very high growth. In 2017, the total number of equipment production in the whole industry increased by 45.7%, and from January to November 2018, it increased by 27.2%. From January to November 2018, the industry's operating income increased by 12% year-on-year, exceeding the target of 20% year-on-year growth of 2018, reaching the highest level in history. The products with larger increase are mainly concentrated in two categories of excavators and cranes.

      Analysis of the main reasons for the rapid growth in the past two years, Deputy Secretary-General Lu summarized the following points: (1) Natural growth, that is, the growth of the quantity of goods, the export products also increased year-on-year; (2) The current user field is in the period of stock update Some equipment has expired and needs to be replaced with new equipment. This cycle will last for about 3-5 years; (3) the promotion of relevant national policy projects; (4) the upgrading of the user sector to drive the upgrading of construction machinery, and the addition of equipment with higher technical content.

    In 2019, the construction machinery industry will continue these major growth points, which is expected to increase by 10% year-on-year, slightly lower than 2018.

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