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Domestic and Foreign Construction Machinery: Who Will Dominate the Future Market? - Where Will the Concrete Pump Truck Market Go from Here?
Release time:
2024-12-04
Data source:
If we consider what the construction machinery industry has witnessed in the past two decades, it is undoubtedly the increasingly prominent presence of national brands.
If we consider what the construction machinery industry has witnessed in the past two decades, it is undoubtedly the increasingly prominent presence of national brands. In 2006, the market share of national brands was a mere 7%. After two decades of arduous efforts, the market share of national brands has now rapidly grown to over 60%, completely surpassing foreign brands.
A set of market data shows that as of November 2024, domestic brands accounted for 85% of the sales of new machines in the Chinese market, while foreign brands accounted for only 15%. The top five domestic leading enterprises accounted for nearly half of the total sales.
According to industry insiders' predictions, Japanese and Korean brands, which once dominated China's construction machinery market, are now in a state of overall decline, being replaced by national brands that are ushering in a glorious moment!
The rankings of enterprise market capitalizations better reflect the competitiveness of enterprises and the status of their brands. Excitingly, the replacement of foreign brands by national brands is also manifested in enterprise revenues.
Throughout the two - decade development process, it is not difficult to find that these domestic import - substituting brands all share common characteristics: improving product competitiveness, devoting themselves to scientific and technological research and development, being pragmatic and progressive... It is precisely these qualities that have enabled national brands to continue to grow and develop, achieving a magnificent turnaround.
Calmness: To "Survive" Well in Order to Develop Well
National brand enterprises maintain a sense of calmness: Only by surviving can they develop, and doing a good job in product quality is a top priority!
Any products produced by an enterprise must be competitive, and the product level must be at the forefront of the market. This is no longer an era when information can be blocked and products can be promoted through advertising. Whether a product is good or not is judged by the market and users, not by empty boasts.
For products to be competitive, they must first have a market, and only then can there be revenue, and only with revenue can funds be invested in research and development. If an enterprise cannot even survive, how can it talk about development? At present, Mitsubishi, Isuzu, etc. still produce the world - class advanced construction machinery engines. Why don't national brands purchase the world's most advanced engines to improve product competitiveness?
If products are not good and cannot be sold, how can one talk about development and brand building?
Ambition: With a Thick Enough "Neck", Not Afraid of Being Restricted
Domestic brand - name enterprises have ambition: As long as their "necks" are thick enough, they are not afraid of being "restricted" in core areas.
In the past, one of the frequently criticized points of Chinese manufacturing was that domestic brands were "restricted" in the three major components (pumps, valves, and engines), which were all imported! They would be at a disadvantage in the long run!
Now, domestic brands are gradually getting rid of this restricted situation. After twenty years of development, the diesel engines for construction machinery, such as those produced by Weichai, Yuchai, and Xichai, are very good. Although there is still a slight gap compared with imported brands, the gap is very small. Once imported engines cannot be used, it can be compensated through after - sales services and price advantages. For end - customers, national brands are cost - effective and ensure the benefits of users. If foreign brands like Mitsubishi and Isuzu are banned, they will lose the global construction machinery market!
Pragmatism: Core Technology is the "Lifeblood" of an Enterprise
Domestic brand - name enterprises are more pragmatic: Only by truly mastering core technology and having real capabilities can they stand firm in market competition!
After so many years of development, domestic construction machinery is not just an assembly plant as some people claim, without core technology. For example, for the world - leading pumps in terms of domestic technical content, everyone globally procures advanced engines and chassis. Then, why can't other brands do the same? Domestic brands have invested a large amount of capital over the years and accumulated a large number of core technologies. The localization of key components has never stopped, and R & D investment has always been substantial. The development of domestic brands in China's construction machinery industry has only been for two decades, and now they can rival brands with hundreds of years of accumulation from foreign countries. On the one hand, this is relying on China's huge market; on the other hand, it is inseparable from the hard work and upward - striving of national brands over the years.
Epiphany: The Road of Exchanging the Market for Technology is Doomed to Fail
Domestic brand enterprises have realized that the past approach of exchanging the market for technology and buying technology will not work! Only through independent innovation and enhancing the height of the industry can they maintain vitality!
The development history of China's passenger car market has profoundly proved that technology cannot be obtained through market - for - technology exchanges. In the end, the result of joint - ventures is often losing both the market and failing to develop technology.
The development of China's construction machinery market over so many years, with national brands standing independently and competing with foreign brands for twenty years, has also proved that as long as there is a market and revenue, more funds can be invested in research and development, and ultimately, their own brands can be developed. At the beginning, when the product quality of national brands was not stable, it was compensated by services and after - sales, and they gradually caught up with foreign brands. Now, the product quality gap is basically negligible, and national brands have even surpassed foreign brands in some aspects!
In the past twenty years, the development of China's construction machinery has experienced one milestone after another, from nothing to something, from something to excellence. More and more domestic construction machinery brands not only meet the needs of the industry but also produce high - tech, high - performance, and artisanal products, standing firm in the international market. In another ten years, it will be an indisputable fact that the quality of domestic brands will surpass that of foreign brands. Behind every substitution, there is the hardship of ten or twenty years of painstaking efforts. The road of reversal for the domestic equipment manufacturing industry is one of step - by - step development. With a huge market, a large scale can be achieved, and a large amount of revenue can bring a lot of R & D investment, ultimately realizing the reversal to become the champion!
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