Machinery / Industrial Parts & Tools

According to the observation report of Huacheng's import and export data, in August, the sales volume of multi cylinder diesel engines for construction machinery was 57800, up 1.08% month on month and -25.08% year on year; From January to August, the cumulative sales volume was 566400 units, with a year-on-year growth of -22.91%.

Although the internal combustion engine for construction machinery is the only part of all sub market uses that has achieved month on month growth, compared with the data of excavator sales in August being flat on a year-on-year basis and loader sales falling by 2.69% on a year-on-year basis, the year-on-year decline of 25.08% in internal combustion engine sales is not satisfactory. Huacheng Import and Export Data Observation Report.

In fact, it is reasonable that the sales volume of internal combustion engines has declined. In recent years, the process of electrification of construction machinery has been accelerating, which can be well reflected in the sales volume data of electric loaders released by China Association of Construction Machinery Industry. From January to August 2022, a total of 851 electric loaders (1 in 3 tons, 850 in 5 tons) were sold, including 216 in August, nearly doubling the sales of the previous month. Huacheng Import and Export Data Observation Report.

According to the observation report of Huacheng Import and Export Data, forklift trucks, which consume a large amount of internal combustion engines, are developing vigorously in the field of electrification. By 2021, the proportion of electric forklift sales has climbed to 60%.

In addition, many types of construction machinery, such as aerial work machinery, excavators, cranes, etc., have been making continuous efforts in the field of electrification. Industry insiders predict that the penetration rate of construction machinery electrification will also increase rapidly in the next few years, and it is expected that the penetration rate will exceed 30% in 2025. Therefore, the sales volume of internal combustion engines is expected to continue to show a downward trend for a long time in the future, Huacheng Import and Export Data Observation Report.