Large-scale analysis of rail transit industry chain

Rail transit has become the focus of industrial computer industry product distribution for the past two years. The main reason is, of course, the rapid growth of the market. In addition to the continuous construction of the Taiwan MRT, the vigorous development of the mainland market is the main reason, under the special purpose of the Chinese government’s intentional construction. Has become China's major cities to give priority to the development of the basic traffic construction.

The huge market in mainland China naturally attracts large global manufacturers to bid. The mainland also takes this opportunity to actively keep foreign technology in China. The current policy is to specify that at least 80% of local manufacturers must pass a metro bid. For a long period of time, China’s rail transit now needs not only to rely on others, but also to export technology to countries in the Middle East and even the United States.

The rail transit industry chain is huge. Apart from the subway, the railways and high-speed railways are also the technologies that the Chinese government is currently devoting to developing. From the perspective of industry influence, the most benefited industries in the rail transit industry chain are the intelligent and informatized equipment industries. The industrial chains that benefit in turn are: infrastructure, construction machinery, infrastructure equipment, train vehicles and their accessories, rail transit intelligence, and information equipment, but the most promising is the intelligence at the end of the industrial chain. And information technology equipment industry.

Infrastructure construction is the first benefiting link in the industry chain, and it is also the most funded investment. This part of investment accounts for about 70% of the total investment, the construction period is about 2-4 years, and the capital investment and industry benefit period are relatively fixed. Traffic entry construction industry has a higher barrier to entry, and with the increasing number of large and complex projects, the technical requirements will be higher.

The current competition situation in the mainland is that China Railway Group and China Railway Construction Corporation have formed a duopoly position in the railway and urban infrastructure infrastructure markets through their subordinate bureaus. They can obtain nearly 90% of the bids, of which China Railways has a higher proportion. However, the market share of the China Railway Second Bureau, China Construction, and China’s transportation construction, both of which are state-owned enterprises, is not significant. Shanghai Construction Engineering, Tengda Construction, Tunnel Stock, Hongrun Construction, Guangdong Hydropower, various local urban construction, municipal groups, etc. The main focus is on the local urban rail market. Northern China is mainly engaged in undertaking overseas operations. Market participants are currently favored by China Railway Group, which has the highest market share in China, and Guangdong Hydropower and tunnel shares with technical and geographical advantages in the construction of local railways. the company.

In addition, the huge business opportunities in the track infrastructure construction equipment industry also bring opportunities for some industries, such as intelligent and informatized equipment. The proportion of intelligent investment in rail transit construction investment will gradually increase, and the investment scale will reach 100 billion yuan in the next three years. The renminbi, this part of the gross profit rate is highest in the entire rail transit industry chain, and this part of the investment in the company, has begun to change the direction of the overall solution provider, the level is expected to once again increase.