A few days ago, some machinery experts summarized the four major development trends of the world mining machinery market in the “State and Forecast of the International Mining Machinery Market”.
First, there is an increasing number of mergers and acquisitions activities worldwide. Outside the Chinese market, the world’s top ten mining machinery manufacturers account for about 85% of the market share, and the control of the entire industry is concentrated in a few companies.
Second, the growth of the world mining machinery market is accelerating. Among them, the demand generated by China’s huge infrastructure construction is a major contributing factor. From 2008 to 2009, the Chinese market surpassed the North American market to become the market with the largest number of mining machinery in the world. In 2010, China’s mining machinery output may account for 50% of the world’s total output.
Third, the world mining machinery leasing market has been vigorously developed. In the United Kingdom, sales to leasing companies accounted for 75% of the total sales of mining machinery in the United Kingdom, 60% in North America, and 50% and 40% in France and Germany, respectively. China is far from reaching this level, but in a few years, it is very likely to reach this point.
Fourth, the world’s production and demand for mining machinery are shifting to China. Major manufacturers have opened factories in China, attracting their main component manufacturers to China. One of the major obstacles to the development of China’s mining machinery is the insufficient supply of high-quality parts and components, which has now begun to change.
As the mining machinery products have enough reserves to complete the current engineering projects, the current global mining machinery market is also in a stable and conservative state of development while it is emerging with vitality. In 2009, some industry experts predicted that mining machinery will face a frozen era. Because of the oversupply, the situation of more monks and less meat will continue to expand. At that time, many mining machinery companies turned around one after another, and some redirected their eyes to brick presses. For equipment, some have set their sights on construction machinery. Who would have thought that after 2010, construction machinery will gradually decline and the industry will experience meager profits. Industry insiders predict that construction machinery will be reshuffled.
Experts believe that from the perspective of the future development trend of the world’s mining machinery industry, the ability of manufacturers to provide a “package of services” is becoming more and more important. These capabilities include whether the production of the product can be integrated, and the manufacturer should provide support in purchasing the machine, because the sales of many machines will be realized through loans.
For Chinese manufacturers, how to maintain the current export momentum and expand their advantages is an important issue facing in the future. 3% to 5% of China’s current total output of mining machinery products is used for export. The main reason for the need to export is that many Chinese manufacturers are expanding their own production capacity, but sales can only account for about 70% of the total production capacity, and exports are used to consume excess production capacity. Moreover, the market price of China’s domestic products is relatively low, and the profits of China’s export products basically reach 300% of that of domestic products. In addition, in mature markets such as Europe and the United States, customers’ payment capabilities and timeliness are relatively good.
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