The lifting equipment industry is struggling to recover, and several key factors are hindering its revival.
Category: Industry News
Release time:2020-02-13
The lifting machinery and equipment industry has remained sluggish for several years, with many companies choosing to exit during this period. Meanwhile, some enterprises are exploring new avenues for growth. Overall, however, a recovery in performance remains challenging, primarily due to three key factors:
First, there’s the issue of excess capacity. China boasts vast resources and a large geographic area, and since lifting equipment and machinery are typically long-lasting assets, demand often fails to keep pace with supply, leading to an oversupply situation. The biggest challenge here is to "go global"—leveraging emerging overseas markets to help absorb this surplus capacity.
Second, the phasing out of second-hand construction machinery. As the number of construction machines in circulation continues to rise year after year, a significant volume of used equipment has accumulated, now ready for retirement. Only by ensuring the smooth elimination and withdrawal of these second-hand machines from the market can the industry create fresh market opportunities and reignite its vitality. To address this issue, the industry is currently continuing discussions on establishing a robust mechanism for retiring and removing outdated second-hand construction equipment from the market.
Third, it’s a reshuffling of the lifting machinery industry. While the downturn has made business operations more challenging for companies, it’s also serving as a major "reshuffle" of the currently chaotic industry landscape. Businesses lacking strength won’t be able to withstand the test and will exit the market, whereas those with solid capabilities will turn the crisis into an opportunity, enabling them to achieve even greater growth.
Keywords: The lifting equipment industry is struggling to recover, and several key factors are hindering its revival.
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