XCMG in the top half dozen
Chinese company XCMG was ranked as the sixth largest worldwide in the 2019 edition of the world’s top 50 construction machinery manufacturers
The T50 Summit of the World Construction Machinery Industry released the 2019 edition of the world’s top 50 construction machinery manufacturers in September, where Chinese company XCMG was ranked as the sixth largest worldwide, saying XCMG has continued its lead as the highest-ranking Chinese company for 20 consecutive years.
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In 2018, XCMG’s hoisting and earthmoving machinery sectors both reported revenues of over USD1.4 billion |
T50 and CCMA (China Construction Machinery Association) jointly hosted the event with AEM (Association of Equipment Manufacturers) and KOCEMA (Korea Construction Equipment Manufacturers Association).
More than 800 industry leaders and users from 13 countries attended to explore the future development of the construction machinery industry.
China has been reported as the largest construction machinery market in the world, and the country’s construction machinery industry is helping break the competitive landscape in the global market with stronger technologies, products, and services. The 12 Chinese companies listed in the top 50 have a total combined sales revenue of USD29.873 billion.
"Construction machinery is a vibrant industry. As a veteran brand, XCMG has maintained a strong growth momentum in a competitive market for 30 years. In the next 10 to 20 years, the majority of the world’s major mainstream construction machinery enterprises will be in China," noted Wang Min, chairman and CEO of XCMG.
XCMG says it’s a leading core technology development company, owning 7062 patents, 1570 patents for invention, 53 PCT patents, and participated in setting six international standards as well as 211 national and industrial standards.
In 2018, XCMG’s hoisting and earthmoving machinery sectors both reported revenues of more than USD1.4 billion. Globally, XCMG runs R&D centres, manufacturing bases, and KD factories in 10 countries, including Germany, Brazil, the US, and India and has acquired three European enterprises, including Schwing.
The company now exports to 183 countries and regions worldwide, covering 97% of the countries of the ‘Belt and Road’ Initiative and says they hold the highest export market share in 35 countries.
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