Construction & Mining Equipment

Date Report Title
February 20, 2022 Early Read on Post-CNY Demand Below Expectations; Autos Hold Up, ICE Recaptures Share; Industry Sentiment Cautiously Optimistic on Stimulus Hopes
December 19, 2021 2022 China Outlook for Industrials Mixed, but Risks Positively Biased; Favor Autos, Automation; Incrementally +ive Elevators, -ive Aero; Remain Cautious Machinery
October 20, 2020 3Q20 Construction & Mining Equipment Survey: Continued strength in sales and orders; Pricing improved
April 20, 2020 1Q20 Construction & Mining Equipment Survey: Sales and orders fall sharply; Outlook index indicates near-term rebound, but muted full-year growth; Price pressure eased
April 1, 2020 Construction Equipment Sector Comment: Checks Suggest Mar Excavator Sales Much Better than Expected; Estimating Mar Machine Hours >100
January 17, 2020 4Q19 Construction & Mining Equipment Survey: Sales and orders ticked up, while pricing stabilized; 2020 outlook mixed
December 20, 2019 China Construction Equipment Checks: 2020 Expectations Negative, but Near-Term More Upside than Downside Risk; No Let Up Seen in Price War
October 22, 2019 3Q19 Construction & Mining Equipment Survey: Sales and orders stabilize; Receivables improve; Downside risk remains
September 19, 2019 Mid-3Q19 Construction & Mining Equipment Survey: Sales and orders show signs of stabilization; Downside risk remains
September 9, 2019 Key Takeaways from BICES 2019: Inventory stuffing and increased promotions supporting equipment demand
July 17, 2019 2Q19 Construction & Mining Equipment Survey: Sales index 11-quarter low; Deteriorating pricing; Outlook moderated
June 24, 2019 China Construction Equipment Checks: Cautious June Excavator Checks; Negative Cycle Ensuing; Reiterate CAT as Top Short in Sector
June 19, 2019 Mid-2Q19 Construction & Mining Equipment Survey: Sales and orders index 11-quarter low; Outlook declined
May 24, 2019 Construction Equipment Sector Comment: Walking Around the Changsha Construction Show; Negative pricing and credit trends key themes; Excavator sales growth likely peaked; May tracking below expectations
April 16, 2019 1Q19 Construction & Mining Equipment Survey: Moderating industry optimism; Sales and orders index ticked down
March 26, 2019 China Construction Equipment Checks: Signs of All-out Price War in Excavator Market; Industry sentiment cautious despite strong 1Q19 sales to-date
January 17, 2019 4Q18 Construction & Mining Equipment Survey: Sales and orders tick up; Industry optimism and outlook declined
December 19, 2018 Mid-4Q18 Construction & Mining Equipment Survey: Modest improvement in sales, orders, pricing; Gov’t spending up
October 17, 2018 3Q18 Construction & Mining Equipment Survey: Survey trends deteriorate; No uptick from fiscal stimulus yet
September 19, 2018 Mid-3Q18 Construction & Mining Equipment Survey: Sales and orders tick down; Pricing deteriorated again
July 18, 2018 2Q18 Construction & Mining Equipment Survey: Sales and orders remained strong; Pricing and outlook deteriorated
June 14, 2018 Mid-2Q18 Construction & Mining Equipment Survey: Sales and orders remained strong; Pricing and outlook deteriorated
May 16, 2018 Construction & Mining Equipment Sector Comment: Domestic brands see big share gains; CAT market share trend negative
April 18, 2018 1Q18 Construction & Mining Equipment Survey: Strong quarter, but no change to outlook as growth moderates
March 20, 2018 Mid-1Q18 Construction & Mining Equipment Survey: Industry sentiment rebounds as peak season off to strong start; Peak demand thesis intact
February 28, 2018 Construction Equipment Sector Comment: Excavator Channel Checks Suggest Weaker Start to the Year
January 18, 2018 4Q17 Construction & Mining Equipment Survey: Survey failed to confirm 4Q sales upside; Remain cautious despite recent strength
December 20, 2017 Mid-4Q17 Construction & Mining Equipment Survey: Demand trends remain robust, but industry optimism declining; 2018 outlook positive
October 23, 2017 3Q17 Construction & Mining Equipment Survey: Robust 3Q17; Mining aftermarket showed further improvement; Dealer sentiment moderated
September 25, 2017 Walking Around Beijing Construction Show: Industry participants more cautious than expected despite underlying strength; Red flags raise concerns about 2018 outlook
September 14, 2017 Mid-3Q17 Construction & Mining Equipment Survey: Solid trends through mid-3Q17; Forward sentiment moderating
July 14, 2017 2Q17 Construction & Mining Equipment Survey: Positive 2Q17; Signs of increased caution towards outlook
June 15, 2017 Mid-2Q17 Construction & Mining Equipment Survey: Mixed sequential trends, but overall demand positive; Continued uptrend in mining
May 12, 2017 1Q17 Wrap: China Drives Growth – Where Do We Go From Here? Auto Forecasts Remain Too Optimistic; Process is Sole Sector with Accelerating Growth Trajectory into 2018
April 19, 2017 1Q17 Construction & Mining Equipment Survey: Strong quarter; Mining aftermarket cycle-high; Increased 2017 outlook
March 15, 2017 Mid-1Q17 Construction & Mining Equipment Survey: Strong near-term demand; Mining aftermarket cycle-high; Competitive pressures persist
January 17, 2017 4Q16 Construction & Mining Equipment Survey: Strong quarter; 2017 outlook ticked up on positive N/T trends
December 15, 2016 Mid-4Q16 Construction & Mining Equipment Survey: Positive trends continued; Further improvement in pricing outlook
November 15, 2016 Early 4Q16 Construction & Mining Equipment Survey: Sales and orders improved; Continued abatement in price pressure; 2016 and 2017 outlook revised up
October 17, 2016 3Q16 Construction & Mining Equipment Survey: Pricing improved; 2017 outlook positive, but property policy a red flag
September 14, 2016 Mid 3Q16 Construction & Mining Equipment Survey: Sales/orders indices improved; 2017 outlook ticked up
August 15, 2016 Early 3Q16 Construction & Mining Equipment Survey: Sales and orders moderated; Initial 2017 outlook positive
July 15, 2016 2Q16 Construction & Mining Equipment Survey: Sales and orders improve; Mining aftermarket bottoms
June 14, 2016 Mid 2Q16 Construction & Mining Equipment Survey: Signs of stabilization following pullback; Shift to Neutral
May 13, 2016 Early 2Q16 Construction & Mining Equipment Survey: Sentiment at six-month low; Sales and outlook moderated
April 19, 2016 Chinese Competition A Structural Pricing Headwind
April 18, 2016 1Q16 Construction & Mining Equipment Survey: Positive 1Q16; Sustainability the key question
March 15, 2016 Mid-1Q16 Construction & Mining Equipment Survey: Quarter-to-date trends tracking above 4Q15; Mining still negative
February 16, 2016 Early 1Q16 Construction & Mining Equipment Survey: Encouraging start to quarter; January ticked up
January 14, 2016 4Q15 Construction & Mining Equipment Survey: Stabilizing quarter; December uptick