The hottest market structure changes, different pr

PVDF membrane materials resolve China's water crisis market structure changes profit prospects are different construction machinery industry differentiation intensifies

market structure changes profit prospects are different construction machinery industry differentiation intensifies

China Construction machinery information

Guide: Recently, listed construction machinery companies have accelerated the pace of product diversification, which roughly includes the following three ideas: represented by Guilin Liugong, Cultivate and develop large-scale and small-scale variety markets of existing leading products; Represented by Changlin Co., Ltd., while continuing to develop the existing leading products, we will expand to other engineering machines

the change of market demand is the main reason for the above phenomenon. In recent years, the rapid growth of fixed asset investment, especially the launch of many large-scale infrastructure projects, has promoted the rapid expansion of the total demand for construction machinery

however, affected by many other factors, the demand structure of construction machinery is changing: in the field of shoveling machinery, due to the change of construction methods and the introduction of mortgage sales, the configuration proportion of excavators relative to loaders is gradually increased; The promulgation of the Tenth Five Year Plan for the development of bulk cement has led to a rapid increase in the market demand for commercial concrete, driving the rapid growth in the demand for towed pumps and pump trucks; The increasing mileage of high-grade highways and the gradual marketization of highway maintenance system will gradually expand the market demand for road maintenance machinery; With the advancement of urbanization, the market capacity of small construction machinery such as excavators and loaders is gradually expanding

comparing the gross profit margin of the corresponding products of the enterprises with the strongest profitability in various sub industries, it is not difficult to find that the gross profit margin of towing pumps and pump trucks is far higher than that of other products, mainly due to hydraulic oil as the power source. Excavators and forks, that is, the bottom of the sensor touches the top of the engine flying gear. Secondly, the gross profit margin of loaders, rollers and bulldozers are all around 20%

in terms of market concentration, pumps and pump trucks have the highest market concentration due to the highest entry barriers. However, the total market share of the top three enterprises in other sub industries is mostly more than 50%, and the market competition pattern is in a stable structure

from the perspective of future demand growth rate, pump trucks and excavators are driven by industrial policies and construction methods respectively, and there is a great guarantee that the sales volume will maintain rapid growth in the next two years, while other products are mainly affected by the increase and decrease of fixed asset investment. Among them, bulldozers are estimated to have less room for expansion of market capacity due to the increasingly narrow scope of use

in foreign countries, small loaders and small multi-function loaders, including backhoe loaders, have a considerable market share. For example, the annual sales of SM brand small multi-function loaders in the United States is about 50000 units, while there are few such products in China

the main reason for the above differences is that countries are at different stages of development. In the next few years, with the advancement of China's urbanization process, the total market volume of small machinery will gradually increase. Among the listed companies, Guilin Liugong and Changlin have begun to intervene in this market

in addition, by the end of 2002, the mileage of class II and above high-grade highways in China has reached 249700 kilometers, and huge highways need a lot of maintenance. Compared with manual maintenance, modern maintenance machinery has higher economic benefits. Therefore, there is a great potential demand for maintenance machinery. However, the current road maintenance system, which creates higher added value regardless of management and maintenance, seriously restricts the maintenance mechanization

in the future, with the gradual marketization of highway maintenance, the demand for maintenance machinery will experience a rapid growth period. Listed companies Sany Heavy Industry and Guilin Liugong have milling machine investment projects, which may benefit from it

combined with the above judgment and the product portfolio of listed companies, it can be found that Sany and Changlin not only have good benefits of leading products, but also have good profit prospects for the products being cultivated; Although Guilin Liugong is currently engaged in the loader business, the industry risk is relatively large, but with the company's strong competitiveness in the industry, the leading products also have good profit prospects, and in the cultivation of profit growth points, the company is in the leading position in the industry; Although Shantui shares has leading products with strong profitability, it is not as good as the first two in the cultivation of new products