2008 Construction machinery market analysis of South Korea – South Korea, constr
2008, the South Korean construction machinery market will continue to 2007, domestic and foreign markets, the situation of each other with mutual assistance, is expected to yield an increase of 13.6%, up to 9 million units.
2008, the Korean hot local construction projects, which South Korean construction machinery enterprises in the competitive domestic market focused investment on these projects and bid. In addition, the fierce market competition among enterprises will promote the rapid development and mutual cooperation. Thus, South Korea in 2008 domestic sales of construction machinery is expected to grow 11.2% year on year, reaching 20,500 units. Exports, rapid growth in emerging markets continue the trend, it is estimated South Korea's machinery exports up 15.3% to 68,400 units.
2007, the Korea issued a series of related policies, in particular the import of equipment to increase profit and tax policy, which greatly promoted the local growth of domestic sales of construction machinery, this trend will certainly continue in 2008 created the domestic market positive impact. In fact, in the fourth quarter of 2007, the Korea Competitive tendency for construction machinery, civil construction works will further increase investment in equipment. South Korean construction industry, according to the Department of
predicted by the impact of balanced national development projects, South Korean civil investment increased 4.0% over last year, which will also lead the development of construction machinery industry plays a great role in promoting. In addition, urban construction, enterprise development, public facilities such as the gradual development of large-scale projects, SOC budget expansion and engineering related industries such as machinery, construction machinery industry will also benefit from them.
In these favorable conditions, driven by 2008, domestic sales of construction machinery is expected to Korea increased by 11.2% year on year, reaching 20,500 units. The first half of 2007, excavators in Korea occupy about 7.5% of sales to 5.5 tons crawler excavators, wheeled excavators and 14 tons excavator to the normal track of development, is expected next 2 to 3 years in the upward trend will continue . With the increased investment in the project, 24 tons excavators and other major and medium-sized equipment market growth will play a leading role. Civil construction investment in the future, the trend is gradually reduced under the influence of medium and large crawler excavators in Korea market demand will be difficult to achieve growth in 2007. 2008 excavator sales growth in Korea is expected to 10.8%, compared with the growth rate in 2007 will be slow. For small loaders, projected 2.5 cubic meters and the following models will be an increase of 2.8%. Under the influence of the tax increase is expected in 2008 truck sales growth in South Korea 10.1%, which would be after 2006, in South Korea for 3 years forklift expected to maintain 10% growth rate. In addition, Korea in 2007 to 8.6% of truck sales will decline in construction projects because of the lags in the increase of market demand, expected growth rate of 12%.
2008, the South Korean exports of construction machinery is expected to be flat in 2007 increased slightly, up by 15.3%, reaching 68,400 units, exports projected at 6.354 billion U.S. dollars or so.
2008 years, the yuan / dollar rate, oil prices, instability in the United States and Western Europe, market demand and other factors, may have caused South Korean exports of construction machinery some adverse effects, but because the area of domestic enterprises are more export widely, especially China and India, the country's rapid economic growth will largely export driven, which will effectively reduce or offset these risks. In addition, the high product quality, energy saving, environmental protection products will drive growth in its exports.
Since the second half of 2006, the United States encountered a bottleneck of economic growth is expected in 2008 still have a big improvement, which the South Korean exports of construction machinery had some negative impact. In 2007, South Korean exports of construction machinery to the North America region decreased 17% year on year. By the U.S. subprime mortgage crisis, depressed market conditions will inevitably continue into 2008. Second half of 2008, growth is expected there will be some degree of recovery will be possible to achieve 2% annual economic growth rate. With the South Korean construction equipment performance and quality constantly improving and upgrading is expected in North America after 2009 on the export situation will be improved to achieve positive growth.
Outside of North America, Western Europe, construction machinery market situation is not optimistic. Compared with the second half of 2007, 2008, Western Europe and North America in many aspects from the overall situation into account, in which the decline in exports to the U.S. and Western Europe, demand for construction machinery will affect the growth rate of South Korean exports of construction machinery decisive factor . It is expected that Germany, Portugal, the Netherlands and other construction machinery market will remain 3.2% ~ 6.0% of demand growth, which to some extent offset the slump in other markets. Expected in 2008, European exports will be capacity.
And North America, Western Europe is different is that other parts of the world export rate has significantly increased. In 2007, China's rapid economic growth and continue to launch large-scale construction projects in the context, the growth rate of China's excavator market up 38.6%. According to statistics, South Korean enterprises in China excavator 21,200 units sold. In 2008, China's excavator market growth is expected to reach 25% to 30%.
In addition, high-end 2007, the export sales of excavators explosive growth in 167% of Russia, 2008, in the oil and inflation, construction and infrastructure expansion and the fast growing market for imports of equipment environment, large excavators in Russia will continue to expand market demand, which will be South Korea's exports of construction machinery positive impact.
In the Middle East and Latin America, with oil prices, increased oil-field development projects as well as Brazil in South America as the center of the recovery of construction machinery industry is expected to Korean companies in the region's exports in the high rate excavator will increase 30%.
To India and Vietnam in Southeast Asia as the center showed rapid economic growth, industrial expansion in the SOC the impact of investment policy, the Government would further strengthen the company's sales management. Especially in India, with its annual growth rate of 50% of the excavator market in and around construction equipment market expansion in Southeast Asia, Korea, Doosan Heavy Industries and other large domestic and modern enterprises are planning the construction of factories in India, especially in the modern Heavy excavators in the region to 2008 annual production target of 3,500, is nervously planning the production line. The two companies completed the production line and put into production in India after the South Korean companies will have a significant impact in Southeast Asia's exports, the export rate is expected to be a great fall.
Into 2007, high efficiency, energy saving, environmental
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