Caterpillar new product collective appearance at the 2018 Shanghai Bauma Show
Caterpillar Global Vice President and Chairman of Caterpillar (China) Investment Co., Ltd. Chen Qihua also announced the addition of a “two-hour quick response” service to Cat360's full peace of mind service: when the customer equipment fails, at the customer site 50 The Cat dealer within a kilometer will arrive at the site within two hours to ensure the smooth progress of the client's project. In addition, Caterpillar has released a new smart device, the Cat Smart Watch, the world's first smart wearable device associated with excavators in the construction machinery industry that “connects customers' equipment, worksites and life”.
Chen Qihua said that China has become the world's largest market for construction machinery and equipment. China's construction machinery industry, especially the excavator industry, has continued to grow steadily this year. This is due to the country's increased investment in infrastructure, especially the renewal of old equipment and the stability of the real estate industry. The resource industry such as start-up volume and coal has achieved relatively stable growth, which has played a pulling role in the construction machinery industry. “The industry continues to be optimistic about China’s engineering and construction industry this year, and is also optimistic about global business growth.”
Caterpillar's Group Leader in Infrastructure Business, Peng Tom, told 21st Century Business Herald that 2014-2015 was a tough two-year for the global construction industry, and Caterpillar's global business fell 25% in the past two years. But starting in 2017, Caterpillar's global business has grown by about 50% in the past 18 months. “Although business growth is now flat, Caterpillar will continue to strengthen its investment in China and other core markets.”