Views: 3 Author: Site Editor Publish Time: 2020-10-19 Origin: Site
Hydraulic parts are the core precision manufacturing products. The market space is broad and the current high-end market is still occupied by foreign brands. As domestic companies gradually mature in terms of technology and processes and the downstream industries continue to have high production capacity gaps for foreign brands, relevant domestic manufacturers will be able to achieve double breakthroughs in technology and markets in the high-end product arena, thereby sharing the continuously expanding domestic market.
As an important part of the transmission and control system, hydraulic parts as an industrial strong base short board need to be consolidated. The domestic hydraulic parts market, including the after-market, is the second largest in the world with over 50 billion yuan. Domestic-owned hydraulic companies have many high-quality customers and have a unique development environment. After the initial localization, domestic-funded manufacturers have plenty of room for expansion. From the application field, it can be expanded to the high-precision areas such as aerospace; from the product category, from the low threshold products such as oil cylinders to the difficult and high-value categories such as pumps and valves have just begun.
The import and export of hydraulic parts in China can prove the continuous progress of the domestic hydraulic industry from the side. At the same time, it shows that the process of import substitution of domestic hydraulic parts is continuing to advance, changing from quantitative to qualitative. From the perspective of the number of imports and exports, the number of hydraulic components exported in China is far greater than the number of imports, and the gap is increasing year by year.
The aftermarket of hydraulic parts has an average annual market size of more than 10 billion yuan, with less volatility than the front-loading market. The aftermarket of hydraulic parts mainly includes maintenance and replacement. Unlike the front-loaded market, which has many affected factors and is prone to fluctuations, the aftermarket of hydraulic parts faces a huge stock market. The market size of hydraulic parts in China is more than 20 billion, of which demand from construction machinery accounts for nearly 40%. The cost of maintenance of each hydraulic component varies according to different brands and industrial and mining conditions, but usually it will be overhauled every 3 to 4 years.
Considering the higher cost of foreign brand hydraulic parts, in the aftermarket, construction machinery owners usually try to choose domestic brand hydraulic parts with the same performance. At the same time, due to the relatively low barriers to entry after the domestic hydraulic parts market, product convergence is more serious, the entire market has many participants, and the competition pattern is more chaotic. Therefore, domestic and foreign high-quality complete machine supporting enterprises are less involved in the domestic hydraulic parts aftermarket competition in the after-market, domestic SMEs dominate the market, the market structure is very fragmented, and the market share of high-quality companies has room for further expansion.