Newsletter summary
Manufacturing inventory cycle enters passive destocking stageHangzhouasiangamesEquipment demand is about to hit bottom and rebound. Driven by the policy, three types of equipment, such as construction machinery and rail transit equipment, have benefited significantly, and we should be on guard against risks such as downstream demand.
Text of news flash
The renewal of manufacturing equipment has entered a critical stage, and policy support leads to the concentrated release of demand.
At present, the manufacturing industry is in the passive destocking stage of the inventory cycle, and the market generally expects that equipment demand will rebound soon. The government's equipment renewal policy is expected to accelerate this process and promote the early release of renewal demand.
In the process, three types of equipment are expected to benefit significantly. First of all, equipment with a long useful life and relatively tight funds downstream, such as construction machinery, rail equipment and oil service equipment, will be updated as a result of policy support. Secondly, the equipment that requires higher environmental protection or has its own demand for quality and standard upgrading, including agricultural machinery, ships, chemical industry and coal machinery, will be passively updated according to the requirements of the policy. Finally, with the upward trend of the inventory cycle and the support of the equipment renewal policy, demand for general-purpose equipment, such as machine tools and injection molding machines, is expected to further increase.
However, market participants should also pay attention to potential risk factors, such as lower-than-expected downstream demand, deteriorating supply pattern and industry cycle fluctuations, which may affect the process of manufacturing equipment renewal.
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