XCMG Machinery Consolidates Top Three Ranking On KHL Group's Yellow Table, Leads Chinese OEM Market

6/6/2023 7:02:52 AM

(MENAFN- PR Newswire) XUZHOU,China, June 6, 2023 /PRNewswire/ --
XCMG Machinery ("XCMG", SHE:000425) has ranked No. 3 among the world's original equipment manufacturers (OEMs) in the latest Yellow Table published by International Construction Magazine, a subsidiary of global construction media company KHL Group. XCMG has maintained the top three rankings for three consecutive years.

XCMG Machinery Consolidates Top Three Ranking on KHL Group's Yellow Table, Leads Chinese OEM Market.

The Yellow Table ranks the world's top 50 OEMs by sales revenues in 2022. Despite the influences from the economic cycle as well as the construction machinery industry's close relation to the overall demands and fixed investments, XCMG reported a total revenue of 93.817 billion yuan (USD 13.20 billion), 27.838 billion yuan (USD 3.92 billion) of which were from overseas revenues, a 50.5 percent growth year-on-year and accounting for 30 percent of XCMG's total revenue, while its export income totaled 21.63 billion yuan (USD 3.04 billion), marking a 70.5 percent increase year-on-year.

Leveraging high-performance products and strong brand influence, multiple of XCMG's business units, including excavation, hoisting, earthmoving, and road machinery, have been growing exponentially with increased market shares and top rankings globally.

In 2022, XCMG has delivered large batches of products to high-end markets in Europe and North America, as well as countries along the "Belt and Road" Initiative. It has exported the 800-ton all-terrain crane to Singapore, 2,000-ton wind turbine crane to Bosnia and Herzegovina, setting a series of export records.

XCMG has achieved sales and successful delivery of the entire crane product portfolio in Europe, which makes it the only company to export complete sets of hoisting machinery in batches to the European market. XCMG's excavator equipment have received rave reviews in the U.S., while its new energy electric products were praised by the New Zealand Prime Minister and Minister of Transport. The GR5505 mining graders, which XCMG has developed in partnership with Rio Tinto, have been shipped off to work in mines in Australia.

Meanwhile XCMG has continually achieved breakthroughs in the R&D and manufacturing of green and new energy equipment products, further advancing the sustainable strategy for green, low-carbon, and intelligent new infrastructure.

"I think more and more people are realizing that electric vehicles can be a very important approach to decarbonization, and in the next five years there will be more and more new energy products, probably reaching the scale of 30 percent," said
Liu Jiansen, vice president of XCMG.

SOURCE XCMG Machinery

MENAFN06062023003732001241ID1106396552

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.