| 摘要(英) |
Many industries utilize specialized machinery with specific functions, and diversified machinery manufacturers operate across multiple industries, providing a variety of specialized machines tailored to customer needs. This represents a unique sector within the machinery industry, which in recent years has been impacted by the COVID-19 pandemic, the US-China trade dispute leading to deglobalization, and trends in regional geopolitical economics, causing changes in market demand, supply chain modifications, and shifts in consumption and work patterns.
In response to the post-pandemic new normal and environmental changes, this thesis employs the industrial economics framework of "Structure-Conduct-Performance (S-C-P)" to examine the current state and future trends of the customized specialized machinery industry.
The findings of this thesis indicate that on the supply side, the volatility in delivery times and prices is greater for some imported or unconventional special raw materials due to customization or import issues. Additionally, manufacturing diverse specialized equipment requires high technical expertise and interdisciplinary knowledge, making it challenging to cultivate professional design and technical talent. As a result, firms in Taiwan′s diversified specialized equipment industry commonly face shortages, serious gaps, or a lack of young technicians.
Regarding the demand side, demand elasticity and substitutability vary by industry. In some tech industries where equipment cannot be replaced by labor, demand elasticity is low. In labor-intensive traditional industries where substitutability exists, demand may be more elastic due to price influences. The future prospects of client industries also directly impact demand elasticity.
On the policy front, governments worldwide often implement industrial policies to promote the development of their machinery industries, such as tax incentives, subsidies, and investment rewards. Moreover, the industry faces tariffs in trade, with the largest impact coming from the RCEP, which took effect in 2023, allowing member countries to enjoy tariff concessions. Tariffs on certain machinery have been reduced among member countries, and since China, Japan, and Korea – major competitors in machinery exports – are member economies, tariff disparities are likely to weaken our country′s competitiveness in machinery exports.
In terms of market structure, the customized specialized machinery products are diverse and the market is fragmented, indicating a low concentration and a monopolistic competitive market. However, the market′s diversity and fragmentation, technical barriers, high product failure risk, and the difficulty in recruiting specialized engineers create entry barriers, preventing excessive competition.
Regarding firms′ pricing behavior, value-based pricing is the most common method. To increase profits, firms consider the urgency of customers′ equipment needs, the technical content of the equipment, and the product′s value to the customer when setting prices. In a competitive market environment, strategies such as vertical integration, enhancing R&D, and producing differentiated products are commonly used to increase market competitiveness.
Overall, the customized specialized machinery industry benefits from trends in industrial transformation and intelligentization, continuing to grow positively. However, recent years have seen many external uncertainties, including deglobalization, the Russo-Ukrainian War, and the Red Sea crisis, leading to raw material shortages, price increases, and delivery delays, testing firms′ adaptability. Facing these challenges, firms need to actively adjust their strategies.
In terms of industry performance, the diversification of firms and their products across multiple industries makes them less affected by economic cycles. With the development of emerging industries, new opportunities are presented to the customized specialized machinery industry. On average, companies engaged in the design and manufacture of customized specialized machinery can achieve an annual operating profit margin of approximately 29%. |
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