XCMG Makes Global Top Three on KHL's Yellow Table 2021 for the First Time
AsiaNet 89476
XUZHOU, China, May 12, 2021 /PRNewswire=KYODO JBN/ --
With an annual revenue of $15.1 billion, leading Chinese construction machinery
manufacturer XCMG (SHE:000425) has moved up to a historic third place in the
Yellow Table 2021 ranking of the world's top 50 construction equipment
manufacturers released by British publisher KHL Group, the highest-ranking
company among Chinese manufacturers.
In 2020, the total revenue of Chinese companies recorded significant growth,
contributing $191.5 billion to global OEM sales which accounted for more than
20 percent for the first time, with China overtaking the United States as the
number one construction equipment manufacturing power in the world.
"Although China's 'super large-scale market' has brought huge development
opportunities to the Chinese construction machinery industry, in the long run,
China's integration into the global market is an irreversible trend. As China
continues to strengthen its position in the global economic arena, our
equipment manufacturing industry will see significant growth on a global
scale," said Wang Min, chairman and CEO of XCMG.
China's construction machinery manufacturers have achieved major breakthroughs
in product and technological innovations, with high-end, large-scale and
intelligent equipment products springing up one after another – not only
leading the trends across Chinese and global construction industry, but also
serving as major forces in many key construction projects. This growing product
competitiveness is enabling Chinese construction equipment to substitute
imported products across the board.
Leading technology, ongoing exploration
XCMG's leading crane and excavator products are selling strongly in the
international market. It has sold tens of units of the 1,600-ton all-terrain
crane, and large-tonnage products are especially in short supply. XCMG's latest
layout of harbor machinery is accelerating market development, while a series
of industrial and new infrastructure projects such as precision casting,
high-end hydraulic valves, concrete machinery and maintenance machinery are
being carried out successively.
XCMG's globally collaborative R&D system has conquered key technologies to
contribute many "firsts" – the world's largest crawler crane XGC88000, "mining
giant" 700-ton hydraulic excavator, ultra-class wheel loader XC9350, as well as
more than 100 units of major equipment.
To embrace the digital age and better serve customers, XCMG has promoted
digital, intelligent and unmanned transformation and upgrading. It has launched
the key digital product XCMG-Global Service System (X-GSS) to provide accurate,
value-added and satisfactory maintenance support for global customers.
As of now, XCMG owns more than 7,500 authorized patents, more than 1,700
patents for invention and 81 PCT international patents, and it has set four
international standards.
Promoting mutual benefits across the entire industry chain
Thanks to Chinese government's strong and efficient control of the COVID-19
pandemic and the quick recovery of the nation's economy, the Chinese
construction machinery industry has performed outstandingly in the global
market.
During the early COVID-19 outbreak in 2020, XCMG has led production resumption
upstream and downstream of the industry chain to ensure timely delivery of
products. It has optimized the industrial chain to attract a large number of
companies to be part of the supply chain and market system.
XCMG always adheres to the "four-in-one" value with suppliers, distributors and
customers, working hand-in-hand to promote product R&D, technological
innovation, production improvement and more to achieve mutual benefits for all
parties. It has led more than 60 enterprises and research institutions to
establish the first strategic alliance of industrial technology innovation in
construction machinery industry. The "Hanyun" Industrial Internet Platform now
connects more than 800,000 units of equipment, managing asserts totaling
US$93.25 billion and covers more than 20 countries along the "Belt and Road"
Initiative.
About XCMG
XCMG is a multinational heavy machinery manufacturing company with a history of
78 years. It currently ranks fourth in the world's construction machinery
industry. The company exports to more than 187 countries and regions around the
world.
For more information, please visit: www.xcmg.com, or XCMG pages on Facebook(
Twitter(
YouTube(
LinkedIn(
and Instagram(
Source: XCMG
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Caption: XCMG Makes Global Top Three on KHL's Yellow Table 2021 for the First Time
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