China Construction Machinery Business Online
September 2012, Crane Market Analysis in China

Truck crane sales drop most steeply; XCMG accounts for half of the market.

According to the statistics of China Construction Machinery Business Online, in the first three quarters of 2012, the accumulative truck crane sales volume of the 13 major truck crane manufacturers in China totals 17,948 units, with a YoY reduction of 38.82%. XCMG Heavy Machinery sells truck crane 9531 units, with a YoY reduction of 36.09% and a market share of 53.10%. In terms of the market share, the first three places are respectively XCMG Heavy Machinery, Zoomlion and Sany Heavy Industry, with the total market share of 91.15%.

Crawler crane sales decline slows down, Sany Science and Technology shows good performance.

In the first three quarters, the accumulative crawler crane sales volume in China is 1245 units, with a YoY reduction of 16.16%, among which, Sany Science and Technology ranks the first with 368 units; XCMG Heavy Machinery ranks the second with 266 units; Fuwa Heavy Industry places the third, with the sales volume of 219 units. The competition mainly focuses on the first five enterprises. In the first three quarters, Sany shows the best performance, with a YoY growth of 46.61%; the other brands perform relatively worse.

Truck-mounted crane gives good performance; XCMG retains first place.

In the first three quarter, the accumulative truck-mounted crane sales volume of the 11 major truck-mounted crane manufacturers in China is 8036 units, with a YoY growth of 10.66%.

The major truck-mounted crane manufacturers are still XCMG Truck-Mounted Crane and Shijiazhuang Mining Machinery, with the respective sales volume of 4102 units and 1368 units, among which, XCMG has a market share of 51.05%. In addition, Zoomlion Truck-Mounted Crane, Changye Qinghua and Yutong Heavy Industry increase largely, respectively 111.80%, 207.41% and 94.45%; XCMG grows by 9.47% compared with the same period last year.

Macroscopic interpretation

1. In the first half year of 2012, China sees its GDP grow by 7.8%, which is the first time that the GDP growth dips under 8% for recent 3 years. The main reasons are mainly the slowdown of the export and investment growth. Affected by the weak global economy, China’s export is hard to recover in a short period.

2. Real estate: The growth of the commercial residential housing recently promotes the developers to increase the development strength in a certain extent, which however do not restrain the declining trend of the investment growth. In the future, on the premise that the regulation is not changed, it is predicted that the growth of the second half year will rebound slightly.

3. Railway and highway construction: According to the Ministry of Railways, China's fixed asset investment on the railway totals 580 billion yuan, among which, the investment in the infrastructure is 470 billion yuan. This means that there will be a climax on the railway investment in the fourth quarter. From January to August, the 227.77 billion yuan has been invested to the railway infrastructure, accounting for 48.5%, and the rest nearly 243 billion yuan will be used in the railway infrastructure in the fourth quarter.

The investment to the highway also shrinks with the year-over-year reduction of 7.8%, which is the first reduction for 10 years. We do not place too much hope on the highway construction investment in the second half year due to two reasons: 1. the local income from the earth is insufficient; 2. there is no obvious improvement on the local financing platform and channels.

4. Mining industry: Seen from the investment to the mining industry from January to July, the mining industry still keeps rapid growth. However, the price the resources represented by coal and iron ore shows a downward trend, besides, against the background of the economy slowdown, the demand and price will decline further, which will restrain the investment to the mining industry. So in the second half year of 2012, the growth of the investment to the mining industry will fall compared with the 20.9% of the first half year.

5. Water conservancy and electric power construction: From the situation of the first half year, the two industries presents relatively stable performance. In the second half year, the two industries will maintain the level of the first half year, displaying good stability.

6. Export market: “Made in China” construction machinery products have been exported to many countries, mainly focusing on countries in Southeast Asia and Middle Africa. Due to the increased overseas expansion strength of Chinese equipment manufacturers and improved product quality, the export volume must show an upward trend. Besides, the high cost performance is the biggest advantage of China-made machinery for export.

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