In May, the sales volume of excavators exceeded expectations by + 68% on a year-on-year basis. The sales volume of excavators reached 145800 units, an increase of 19.4% on a year-on-year basis. In the post epidemic era, the "off-season is not weak".

　　According to the statistics of China's authoritative departments, in May 2020, more than 20 enterprises included in the statistics sold 31744 sets of various mining machinery products, a year-on-year increase of 68%, far exceeding the industry expectation (50%).

　　In the first two months of this year, affected by the Spring Festival and the epidemic situation, the sales volume of excavators in China fell seriously year-on-year, and the year-on-year growth rate of the sales volume of excavators in February fell below 50%. Since March, with the increase of resumption of work and production and the recovery of infrastructure investment in China, excavator sales have maintained a good momentum. From March to may, the sales volume of excavators reached a record high, and the year-on-year growth rate for three consecutive months was positive, with the growth rate exceeding 50% for two consecutive months. The hot models of major brand manufacturers "are scheduled as soon as they go online, and will be transported as soon as they go offline".

　　With regard to the excavator market trend in June and the whole year, and the sales volume of major construction machinery enterprises in 2020, major research institutions have made analysis and prediction. Mysteel summarizes some of the agency's views.

　　According to the prediction opinions of the above institutions, the following important information can be summarized:

　　First, the year-on-year growth rate of excavator sales in June is expected to remain above 50%. Among them, the domestic excavator sales volume may reach more than 60%. Basically, all analysts are optimistic about the annual excavator sales in 2020, and it is generally expected that the annual excavator sales will increase by about 20% year-on-year.

　　Second, the market share of leading construction machinery enterprises is still rising. In the prediction of relevant enterprises in the construction machinery industry, it is believed that the competitiveness of domestic leading enterprises will continue to improve, and the performance of industry leading enterprises still has room for growth; the market share of Sany excavator still has a trend of improvement, and the annual sales growth is expected to reach more than 10%.

　　Third, infrastructure construction, renewal and environmental protection are the three factors that support the high prosperity of construction machinery industry in 2020. The expectations of major institutions for maintaining high prosperity in the construction machinery industry in 2020 are mainly based on the following three factors:

　　First, environmental protection will be tightened and old equipment will be eliminated. Huatai Securities mentioned that since 2020, some regions in China have successively implemented the fourth national standard for non road mobile machinery, which is expected to accelerate the elimination of old equipment. According to Mysteel's incomplete statistics, as of June 8, more than 100 cities across the country have designated non road mobile machinery forbidden areas such as excavators.

　　Second, upgrading provides solid support for the industry's high prosperity. According to the calculation of Dongxing securities, the stock renewal demand in 2020 can support the sales volume of at least 100000 sets; the potential replacement demand is about 700000 sets in 2021-2025; the renewal replacement demand in 2020-2022 is 106000 sets, 161200 sets and 197300 sets respectively.

　　Third, give full play to the role of infrastructure as a foundation. In 2020, China's economy is in a declining channel, with the impact of the epidemic on the economy superimposed, and the counter cyclical adjustment policies have been successively introduced. Haitong Securities mentioned that after the two sessions, the newly started projects are gradually put into operation, and the infrastructure investment is expected to rebound further, and the reverse cycle investment fully drives the infrastructure recovery.

　　To sum up, the construction machinery industry will maintain high-speed growth in 2020. Experts predict that from June to July, excavator sales will still maintain a year-on-year growth rate of more than 60%, and the year-on-year growth rate of excavator sales is expected to reach 25%.