According to the data released by the China Construction Machinery Industry Association, the annual sales of 12 types of major construction machinery products in China in 2023 exceeded 1.7 million units, of which the four main products: forklift (belonging to industrial vehicles) sales reached 1.1 million, lifting operation platform and excavator sales in 200,000, and loader sales in 100,000. In terms of electrification, in addition to the lifting operation platform and forklift market, the current domestic electrification of construction machinery vehicles is still at a low level. High-tech Industry Research Institute (GGII) research information shows that in addition to the lifting operation platform and forklift market, the electrification rate of domestic construction machinery products is less than 10%.

At present, well-known construction machinery enterprises at home and abroad such as Caterpillar, Komatsu, Xugong Machinery (000425.SZ), Sany Heavy Industry (600031.SH), etc., have carried out active exploration and layout in the field of electrification. Xugong Machinery, Sany Heavy Industry has released a total of hundreds of new energy construction machinery products, product types covering truck cranes, loaders, aerial work platforms, sanitation vehicles, front cranes, rollers, pavers and other fields, the proportion of electric products revenue continues to increase.

The electrification of construction machinery brings new consumption space to lithium batteries. According to the research and calculation data of the High-Tech Industry Research Institute (GGII), the total battery demand of the five categories of electric forklift, electric lifting operation platform, electric loader, electric excavator and electric mining card in 2023 is about 8.7GWh. If the above five categories of products are fully electrified, the battery demand should be about 63.1GWh (based on the product sales level in 2023). Combined with the electrification needs of other construction machinery products, GGII expects the potential scale of batteries for construction machinery to be more than 70GWh.

This article is from: Zhitong financial network