Industry Insights丨Comprehensive Recovery in Construction Machinery – Who is Leading the Wave of Industry Intelligence?

Industry Insights丨Comprehensive Recovery in Construction Machinery – Who is Leading the Wave of Industry Intelligence?

01 Development of the Construction Machinery Industry Progresses Steadily

With the economic data for the first three quarters of 2024 gradually released, the recovery of the construction machinery industry has been partially validated. Compared to 2023, production data across the entire domestic construction machinery sector has seen an increase in 2024. Meanwhile, among the top 10 global construction machinery manufacturers, some companies experienced slight revenue declines, yet maintained positive profit growth, with several Chinese companies achieving substantial increases in profit margins.

Analyzing market demand, construction projects along the Belt and Road Initiative have boosted production capacities, while global mining sector expansion has significantly enhanced the demand for mining machinery and intelligent equipment. According to the President of the China Construction Machinery Industry Association, despite challenges posed by the downturn in the domestic real estate sector and changes in international markets, the construction machinery industry continues to advance in the directions of intelligence, high-end solutions, and sustainability. The industry is expected to maintain a "stable recovery with steady progress" throughout the second half of the year, with promising long-term growth prospects.

In this context, CPDEVICE has focused on the global construction machinery market, continuously innovating and launching a variety of in-vehicle intelligent terminals and human-machine interaction solutions. Thanks to the durability of its equipment and robust support for intelligent applications, CPDEVICE has earned extensive recognition within the industry, injecting new momentum into the advancement of intelligent construction machinery.

02 CPDEVICE Achieves a 60% Customer Penetration Rate in Digital Construction and Smart Mining

CPDEVICE serves two critical sectors: digital construction and smart mining, establishing a strong market presence and customer base across various sub-fields:

·Digital Construction

CPDEVICE has built long-term partnerships with renowned enterprises in the digital construction field, achieving an estimated customer penetration rate exceeding 50% in both domestic and international markets.

As a supporter of intelligent upgrades in construction machinery, CPDEVICE provides intelligent in-vehicle terminals capable of efficient data collection and real-time processing, which enables optimized management and operation of construction machinery, improving the equipment's operational efficiency and accuracy.

In addition to its intelligent hardware, CPDEVICE has also developed the MDM mobile device management platform. Through this platform, machinery equipped with CPDEVICE’s intelligent in-vehicle terminals can easily coordinate across multiple work types, allowing for remote control, equipment debugging, and more. This creates the foundation for unmanned operations, significantly reducing manual labor and boosting efficiency.

Thanks to its innovative technology and exceptional performance, CPDEVICE has gained high recognition from numerous companies in the industry, establishing itself as a vital force in driving the intelligent advancement of construction machinery.

·Smart Mining

CPDEVICE has accumulated extensive experience in the smart mining sector, especially in open-pit coal mining applications. In recent years, with a growing demand for cost reduction, efficiency improvement, safety enhancement, energy savings, and emissions reduction, demand for unmanned vehicles in open-pit coal mines has risen rapidly. Reports show that China had 1,131 unmanned vehicles for open-pit coal mining in 2023, increasing to 1,510 by September 2024. This number is expected to exceed 2,500 by the end of 2024, doubling from 2023. Looking ahead, as digital transformation accelerates in open-pit coal mining, the demand for unmanned vehicles will continue to grow, with explosive growth expected by 2026.

CPDEVICE has established deep partnerships with leading companies in this field, actively promoting the application of unmanned vehicles and intelligent dispatch systems. By providing efficient intelligent in-vehicle terminals and human-machine interaction solutions, CPDEVICE supports the intelligent transformation of mining machinery, contributing to the efficient and intelligent development of mineral resource extraction. In this field, CPDEVICE’s customer penetration rate exceeds 80%, with key clients primarily located in mainland China and Russia.

03 CPDEVICE Continues to Drive Industry Intelligence

Intelligence and connectivity are set to become the core drivers of future development in the global construction machinery industry. As technology continues to advance, the industry is rapidly moving towards higher efficiency and more precise intelligence, integrating digitalization and automation deeply. In this process, CPDEVICE will continue to promote the development of efficient, intelligent in-vehicle terminals and innovative solutions, providing more efficient, stable, and innovative products and services, helping customers succeed in their intelligent upgrade journey.

As one of the most important global events in the construction machinery field, Bauma CHINA 2024 will take place in Shanghai, China, next week. The CPDEVICE team will participate in this grand event to gain insights into the latest products and solutions in the construction machinery industry and to further engage in-depth discussions with industry clients. We’ll see you at Bauma!