Abstract : In August, the machinery industry continued to experience seasonal weakness. Machine tool manufacturers reported that the year-on-year decline in orders persisted, though the rate has stabilized. Meanwhile, construction machinery companies noted that sales this month were roughly in line with expectations, but still below last year’s levels. The base effect is gradually improving, which may lead to a more positive outlook in the coming months.
In August, demand for machinery remained soft, as expected during the traditional off-peak season. Machine tool sales saw another year-on-year decline, hitting a low point compared to previous years. Some companies reported order declines within a 10% to 20% range, but most expressed confidence that the downturn would not worsen and that stability is likely in the near term.
Manufacturing investment has not shown significant improvement, with the Fixed Asset Investment (FAI) growth rate for manufacturing firms continuing to slow down. Over the past four years, FAI has remained at its lowest level, and the slowdown in downstream industries that rely on machine tools has further constrained demand.
For construction machinery, the year-on-year sales performance improved due to a weak base from the previous year. Most companies reported that August sales were in line with their expectations, though still lower than the same period last year. However, many manufacturers noted that the drop in sales following August 2023 was quite severe, so they are cautiously optimistic about a potential rebound in the next few months. We estimate that excavator sales in China could reach around 6,000 units in August, slightly below the typical seasonal pattern. However, a strong year-on-year recovery in the coming months is highly likely.
Construction machinery plays a vital role in China's equipment industry. It refers to the mechanical equipment used in earthwork, road construction, maintenance, lifting, unloading, and other mechanized projects. These machines are essential across various sectors, including infrastructure development, transportation, energy, mining, agriculture, forestry, water conservancy, industrial and civil construction, urban development, and environmental protection.
In recent years, with the advancement of the machine tool industry, a growing number of machine tools have been integrated into construction machinery. This not only supports the development of engineering equipment but also fosters progress in related industries. As technology continues to evolve, the synergy between these two sectors is expected to strengthen further.Its products can be used for plant, biology, microorganism, genetics, virus, medicine, environmental protection, food, petroleum, chemical and other scientific research, education departments for all kinds of biological precision cultivation, genetic engineering research, petrochemical heating and so on.
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