Looking ahead, efforts will be made to promote innovation, smart manufacturing, internationalization and aftermarket development to sustain the long-term development of XCMG's crane business, according to the company.
Contemporary Amperex Technology Co Ltd and ZF Group, a tech company supplying systems for passenger cars, signed on Friday a strategic partnership to push forward cooperation in aftermarket services, including service network, battery-related training and connectivity.
With the support of ZF's worldwide network, we will further enhance our global aftermarket service and continue to deliver customer-driven new energy products to the world," said Zhou Jia, president of CATL.
Together with CATL, we will bring the global footprint and leading service solutions of ZF's Aftermarket Division further into play," said Holger Klein, a member of the board of management at ZF Group.
It also offered solutions using digital technology and aftermarket services to unlock operating efficiencies in construction.
"Despite positive impacts of US tax reform on new helicopter purchase plans in North America, an inconsistent economic outlook for international markets has resulted in lower purchase plans worldwide from fleet managers when compared with a year ago," said Heath Patrick, president for Americas Aftermarket of Honeywell Aerospace.
More than two years later, Harbut is now a chief in charge of an ARG (aftermarket auto glass) preassembly lamination line.
Alibaba Group Holding Ltd is elbowing its way into the car spare parts and supply chain market by forming a new joint venture with a local firm that it hopes will become the "unicorn" of the country's emerging automotive aftermarket.
The auto aftermarket are providers of vehicle spare parts and classic auto repair and maintenance services.
This marks a threshold year, based on international experience, that is likely to witness exponential growth in the aftermarket segment.
E-commerce is poised to become a "game changer" to the traditional brick-and-mortar franchise model, according to Markus Scherer, a consulting director at Ipsos who led a study on China's auto aftermarket.
Eyeing the opportunities for future development, Mobil plans to enhance cooperation with domestic turbine makers and equipment builders, including Chinese wind turbine generator maker Xinjiang Goldwind Science & Technology Co Ltd, in product development, aftermarket services promotion and lubrication technology communication.
Sales gains in the second quarter were driven by construction in China, demand for aftermarket parts in mining and energy industries, the company said.
The ministry will also help promote the introduction of a batch of policies and measures to support the aftermarket of cars to further push the accelerated consumption recovery in China.
China will fully implement the existing policies in spurring consumption and is planning to release a batch of measures to support the auto aftermarket and other key areas, according to He.
"The implementation of the RCEP enables us to trade more efficiently, arrange business layout more flexibly and improve the marketing, manufacturing, financial leasing, aftermarket and product adaptability of our overseas subsidiaries," Li said.
"The implementation of the RCEP enables us to trade more efficiently, arrange business layouts more flexibly and improve the marketing, manufacturing, financial leasing, aftermarket and product adaptability of our overseas subsidiaries," Li said.
Through new technology and stable service, the supply chain company has constantly promoted the development of its six core capabilities: distribution, aftermarket, transformation of channel supply chain, enterprise supply chain, digitalization management platform and efforts to reverse the negative impact.
Huishoubao, another mobile phone recycling startup, has accumulated extensive experience in secondhand smartphone inspections and artificial intelligence-powered pricing through providing all-around smartphone aftermarket services.
Both sides vowed to give full play to their professional advantages in sectors such as aircraft assets management, aftermarket, as well as hybrid industrial-financial business.
Shashank Shekhar, who is sales director of business and general aviation and aftermarket with Honeywell Aerospace in the Asia-Pacific region, agreed with the growth trend.
Shashank Shekhar, sales director of business and general aviation aftermarket in the Asia-Pacific region for Honeywell Aerospace, said about 12 percent of operators in the Asia-Pacific region would add to their fleets in 2019.
At the 2018 China Airshow, Hainan Airlines announced a partnership with Honeywell that would see Honeywell's supply auxiliary power units and aftermarket support to the airline's fleet, including its GoDirect connected maintenance services, a predictive technology based primarily on data.
It will also provide regional back-office services including sales, marketing, importing and exporting, and aftermarket components.
As the first collaborative model between smart and Brabus, an automotive aftermarket company, the model combines Mercedes-Benz's global design with exclusive Brabus design elements.
He said with the support of ZF's worldwide network, CATL will further enhance its global aftermarket service and deliver its new energy products to the world.
ZF has more than 10,000 workshops in its global aftermarket.
China's automotive aftermarket was valued at more than 1 trillion yuan ($153.61 billion) in 2020, the Ministry of Commerce (MOC) said in an initial estimate.
The country's auto aftermarket, which includes transactions and services following the sales of cars, registered a steady recovery last year amid the country's resilient economic performance, the MOC added.
China's auto aftermarket business experienced explosive growth during the epidemic.
Auto aftermarket refers to all services related to the use of cars after they are sold.
cn, a national car repair and maintenance platform based in Shanghai, said that influenced by the epidemic, consumers in auto aftermarket shifted to online.
"As livestreaming turns popular in China, automotive key opinion leaders starting a livestreaming chatroom to promote auto aftermarket products has become a norm.
According to the report, the e-commerce penetration rate of auto aftermarket tops the whole online automotive industry, and more and more car owners prefer to use car repair and maintenance services online.
The peak hour for online auto aftermarket consumption is between 9 am to 5 pm.
In terms of age group, the post-90 generation turned to be the fastest-growing age group for online auto aftermarket consumption.
He expects the business to grow further in China, especially in the aftermarket.
Globally, the original equipment segment generates around 60 percent of DRiV’s revenue and the aftermarket accounts for 40 percent.
The company has set up a plant in Changzhou, Jiangsu province, to serve automotive manufacturers, and a new manufacturing facility for the aftermarket business is slated to start construction near Shanghai in six months.
The second-hand and aftermarket businesses will create positive momentum for the country's auto market, said Norbert Meyring, Industrial Manufacturing and Automotive sector head for KPMG China.
China will boost auto sales nationwide by optimizing the market environment, enlarging supply channels, and promoting consumption upgrading and the development of the aftermarket, said Gao Feng, spokesperson for the Ministry of Commerce, at a news conference on Thursday.
Many opportunities also come from China's status for the last nine years as the world's largest independent market for automobile aftermarket products, Eastman Chemical executives said.
Paint-protection film, or PPF, has emerged as a popular aftermarket product in the automotive sector in recent years as owners seek to protect the paint work on their vehicles.
Eastman entered China in 1994 boosted by strong consumer spending on the Chinese automotive aftermarket services and the then emerging car culture in China.
The combined profit share of traditional businesses including suppliers business, vehicle sales and aftermarket would be almost halved from 71 percent to 41 percent, according to the report.
Compared with aftermarket installed products, factory-stalled products face a huge market, according to Liu GuoQing, co-founder and CEO of MINIEYE.
The cooperation marks the German auto brand's latest major move in digital services and JD's significant breakthrough in the premium automotive aftermarket.
Chinese exhibitors have shown great interest in Algeria's automotive market in the 12th international fair of automotive equipment and aftermarket services held in Algeria, said the event organizer Nabil Bey Boumezrag Monday.
"The agreement signed with Hella Group indicates the two will explore intelligent driving, automotive electronics and the aftermarket business.
He said the company has invested in Autel Intelligent Technology Corp, a Chinese manufacturer and provider of automotive aftermarket services, which is another listing candidate on the new board.
"The integration of forefront technologies in the automotive aftermarket has great potential for future growth with the fast development of Chinese automobile sector," he said.