Construction machinery is widely used in fields such as infrastructure, real estate, municipal and rural areas, and mining, and is regarded as a barometer of the economy.
 In 2023, the total revenue of the top 50 global construction machinery manufacturers reached 244.1 billion US dollars, with XCMG Machinery and Sany Heavy Industry earning 13 billion US dollars and 10.2 billion US dollars respectively, ranking fourth and sixth.
 The market value of global and domestic construction machinery leaders is trillions and billions of yuan respectively. Whether in terms of revenue or market value, the growth ceiling of domestic brands is high enough.
 Reviewing the excavator cycle, it takes about ten years for construction machinery to complete a complete cycle, which is close to the average service life of excavators. However, this cycle is expected to be shortened, mainly due to the miniaturization and domestication rate of construction machinery.
 With the start of the domestic market update cycle and the recovery of overseas markets, it is predicted that the industry will experience a "resonance" between domestic and foreign demand, with flexibility looking at domestic sales and new highs looking at going global.
 Suggested attention: Sany Heavy Industry, XCMG Machinery, Zoomlion Heavy Industry, etc.