XUZHOU, China, April 24, 2018 /PRNewswire/ -- XCMG (000425.SZ), the world's leading construction machinery manufacturer, now ranks 6th among the world's top 50 construction equipment manufacturers in the latest Yellow Table report released by European construction publisher KHL. XCMG has jumped up 2 spots from 8th place in last year's report, achieving the highest ranking of any Chinese manufacturer.
Following years of decline in the global construction equipment market, this year has seen robust growth, especially in Asia where the top 50 manufacturers have delivered the best sales performance since 2013. KHL notes that China is the key to this growth, as the sales of Chinese construction equipment have risen 82 percent and exceeded 200,000 for the first time since 2014.
Wang Min, Chairman and president of XCMG, commented, "Our cutting-edge technology and innovation, alongside 'advanced and endurable' quality are the keys to our rise on KHL's 2018 Yellow Table. As XCMG continues its transition from traditional to intelligent manufacturing, we will be able to achieve consistent growth in the future - even if the market takes a downturn. Furthermore, our decades of transnational experience make us well-positioned to take advantage of global market developments, including expansion into emerging mid- and high-end markets."
Through years of dedicated research and development, XCMG has achieved continuous breakthroughs in both product development and market share:
- XCMG's machinery and earthmoving plant business sectors now have a scale of RMB 10 billion
- Annual sales of heavy trucks exceed 13,000
- Sales volume in the environmental equipment sector has exceeded RMB 1 billion (US$159.19 million)
- XCMG's large tonnage all-terrain crane has entered the high-end markets of the U.S., Germany and Australia
- XCMG now owns 5,977 technical patents, among which 1,211 are authorized invention patents
XCMG has reported a 90 percent year-on-year increase in exports in 2017, with total revenue as well as growth rate both surpassing its peers. XCMG's global operation has more than 40 branch offices and 300 dealers and distributors, exporting to more than 178 countries and regions. It has been a champion of the industry for three decades, especially in the Asian, African and South American markets.
With export value accounting for 72 percent of its total volume, XCMG has expanded its market share in the 57 countries and regions participating in China's "Belt and Road" Initiative and ranks as the No.1 export merchant in 30 destination countries in terms of the total amount of export volume. XCMG has established 134 service and parts centers worldwide to ensure prompt aftersales services.
XCMG (000425.SZ) is a multinational heavy machinery manufacturing company with a history of 74 years. It currently ranks sixth in the world's construction machinery industry. The company exports to more than 177 countries and regions around the world.