Viewpoint | The global infrastructure is heating up, which is good for construction machinery
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Author : Reprinted from other News platform
Update time : 2021-07-27 09:52:42
Under the influence of the epidemic, increasing investment in infrastructure is an effective and rapid way to deal with the economic downturn, which is conducive to increasing demand for construction machinery products and is expected to extend the industry's current boom cycle.
Domestic construction machinery companies have a competitive advantage in the world. Chinese companies in the "2021 Global Top 50 Construction Machinery Manufacturers List" ranked first with a total sales of 50.733 billion US dollars. At the same time, the gap between domestic brands and foreign brands has been narrowing, and the market share of domestic companies has continued to increase. On May 31, Sany Heavy Industry announced that its global sales of excavators topped the world list. According to data from the research organization Off-HighwayResearch, in 2020, Sany sold 98,705 excavators, accounting for 15% of the global excavator market, and won the world's first sales ace.
The rise in global infrastructure is good for construction machinery.
U.S. President Biden will propose a budget of $6 trillion for the 2022 fiscal year on Friday. The funds will be used for infrastructure, education, etc., to increase the total spending to $8.2 trillion by 2031. The loose monetary policy of the US government affects local infrastructure. At the same time, the currency will flow to the world, driving the global infrastructure to resonate, which is good for the export of construction machinery.
For the domestic market, it is estimated that the second half of the year is expected to usher in the peak season. my country’s One Belt One Road initiative will further benefit domestic construction machinery. The Ministry of Commerce announced on the 27th that my country’s investment in countries along the Belt and Road increased by 14% in the previous April. At the same time, it was announced that the number of newly signed foreign contracted projects from January to April was more and more. Concentrated in the fields of transportation and power engineering, there were 242 newly-signed foreign contracted projects with a contract value of more than US$50 million, an increase of 12 over the same period of the previous year, with a total of US$61.04 billion, accounting for 85.4% of the total amount of newly-signed contracts.
Under the loose monetary policy of the United States, the enthusiasm for investment on a global scale will increase significantly. It is estimated that the export of construction machinery will continue to increase at a high speed, which is good for my country's leading construction machinery enterprises to promote their internationalization strategy.