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XCMG Stably Ranks the 6th in 2019 Yellow Table

Date:2019-04-29 Author:Linda Source:www.chinatrucks.com

On April 8, when Bauma 2019 MUNICH was developed vigorously, a big news raised the confidence of Chinese equipment manufacturing enterprise. KHL Group- the most authoritative engineering machinery information provider in the world- issued Yellow Table 2019; the list shows that the total income of global enterprises listed is 184 billion USD, which increases by 13.5% compared with 2017. XCMG ranks the 6th on the list, and ranks the 1st among China-invested enterprises, and it has been ranked in top 10 for several successive years.

XCMG Stably Ranks the 6th in 2019 Yellow Table

The data disclosed by KHL shows that the sales amount of China’s engineering machinery industry enjoyed a year-on-year growth in 2018, and the sales volume was 340, 000 sets. The equipment sales volume on Chinese market of this year is the biggest since 2012, and China becomes the global largest construction equipment market again, which is consistent with the development of China’s equipment manufacturing industry. The growth is accompanied with the improvement of Chinese enterprise on Yellow Table. XCMG, as the continual leader in China’s engineering machinery industry, ranks the 6th on the table, and it always keeps the stable and high quality development based on the excellent performance of “the stronger will be stronger”.

XCMG 700 Ton hydraulic excavator was successfully produced in 2018; the successful research and manufacture of this product means that following Germany, Japan and USA, China has become the fourth country that has the ability for R & D and manufacture of hydraulic excavator of above 700 tonnage.

According to the statistics by China Construction Machinery Association, in 2018, the truck crane sales of XCMG enjoys a year-on-year growth of 51%, the market share is 46%, which exceeds the sum of the market share of the brand ranking the second and third. As the leader in truck crane industry, XCMG excavator business also grows rapidly since the second half of 2016. In 2018, the excavator sales of XCMG enjoys a year-on-year growth of 87.9%, and its market share had reached 12.5%; in January 2019, its market share reached a new historical level: 13.72%.

“As an international enterprise, we shall not only focus on export, but also shall have global layout and industrial base, as well as innovative technology and unique products.” Said Wang Min.

Its sales volume ranks the first in global crane industry; the large-scale complete mining equipment has been exported to multiple countries; the market share and export volume of complete road construction machinery ranks the top in the industry. All these witness the breakthrough and growth of XCMG.

In 2018, the growth of overseas business of XCMG is the new highlight; and the foreign exchange earned through exports enjoys a year-on-year growth of 75%. 70%-80% overseas business of XCMG is mainly developed in the countries along the “Belt and Road”, and important breakthrough has been made in European and North American market.

At present, the full series product of XCMG has covered 183 countries and regions all over the world; and 4 R & D centers, 14 overseas manufacturing bases and KD factories, over 2, 000 service terminals, over 300 overseas dealers, 40 overseas offices, 40 overseas large-scale spare parts centers have been established. XCMG has manufacturing base and six overseas assembly factories in Brazil, Germany, Austria, India and America; R &D center has been established in Germany, America and Brazil and European purchase center has been established; and XCMG has merged and purchased 3 European enterprises (including SCHWING). Its global sales and service network can meet users’ all-round demands and requirements.

XCMG products have covered 63 countries of the 65 countries and regions along the “Belt and Road”. A series of important projects makes the brand recognition of XCMG reaches above 90% in Central Asia, Africa, the Middle East and Asia-Pacific area: construction of main stadium for 2022 World Cup in Qatar, Mombasa-Nairobi Railway (full length: 480 km) construction project in Kenya, Dangote petroleum refining project (it is the largest in Africa), etc.

Now, the income from overseas market of XCMG accounts for 30% of the total revenue of the group. Wang Min predicts that this figure will reach 50% by the year 2020, and the growth shall be mainly promoted by medium and high-end market.

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