Caterpillar and Komatsu are construction, mining, and utility vehicle companies. John Deere and CNH Industrial offer agricultural and construction equipment. AGCO is purely agricultural. The COVID-19 pandemic created a need for digitization due to the slowdown of work and reduced workforce in 2020. The industry started recovering in mid-2020 in the farming segment and early 2021 in construction and mining globally. In China, the recovery began in mid-2020 in all segments.

Europe is a highly lucrative market. The demand has been fueled by spectacular strides in the food services industry. Food manufacturers have been early adopters of innovative composite materials to meet their end-use functional characteristics. Further, the region has a marked presence of some of the globally prominent flexible manufacturers. North America and Asia Pacific are expected to offer incremental opportunities to players in the global metallized flexible packaging market. Other key reginal markets are expected to be South America and the Middle East and Africa.

1-2月全国快递业务量同比增长 19.6%，高于国家邮政局全年 13%左右的增速预测，需求淡季表现不淡。受益于极兔整合百世导致的件量外溢，头部企业1-2 月件量增速持续高于行业，且价格表现坚挺，盈利弹性有望持续释放。顺丰主动调优产品结构，1-2 月件量增速低于行业平均，但单价同比表现持续改善，营收质量持续提升。尽管近期油价快速上涨推升运输成本，且疫情扩散拖累件量增速，但在行业监管下，电商快递竞争阶段性趋缓，单价表现坚挺，盈利修复确定性依然较高。

从交运各子板块相对沪深300 的表现来看，本周（3 月14 日-3月18 日）交运板块整体持续回落。本周物流综合板块下跌1.14%，其中原材料供应链服务板块下跌1.99%。

2 月份，全行业共完成运输总周转量61.7 亿吨公里，同比增长22.6%，恢复到2019 年同期的63.9%；完成旅客运输量3129.4 万人次，同比增长30.7%，恢复到2019 年同期的58.1%；完成货邮运输量43.1万吨，同比下降6.2%，较2019 年同期增长14.5%。