XCMG is ranked among the top three original equipment manufacturers (OEMs) in the world for the second consecutive year, according to the Yellow Table published by International Construction Magazine, a subsidiary of global construction media company KHL Group. Furthermore, XCMG's aerial work platform also ranks fifth worldwide in the Access M20 Manufacturers list.
XCMG has performed well in other global performance indicators, with mobile canes and horizontal directional drilling ranked first, tower cranes ranked second, truck-mounted cranes and road machinery ranked third for the first time, mine surface excavation equipment ranked top five, and complete sets of piling machinery and concrete machinery ranked first. XCMG's excavation equipment ranks second in China and sixth in the world and has exceeded 200,000 units in production and sales.
Additionally, XCMG's has made the industry's first position of lifting fire trucks and boom-type aerial work platforms more stable, improving profitability. Revenue for small construction machinery and forklifts increased by 50% and 258% respectively year-on-year. XCMG's new maintenance base is also in operation, with the asphalt station and chassis maintenance products ranking among top two in the industry.
Not only has XCMG's operating income reached a record high, the revenue balance across different product categories has also become more even."
Wang Min, CEO and Chairman of XCMG
Internationalization of markets
In 2021, despite obstacles presented by the pandemic, XCMG expanded to overseas markets and achieved export revenue exceeding RMB 13 billion, a year-on-year increase of more than 90%.
Other international achievements also include investing USD 99 million in North American market expansion, winning a contract for a large order of cranes worth RMB 100 million in Asia-Pacific, deploying almost RMB 200 million of large-scale open-pit mining equipment to Africa, supplying 500 excavators to Southeast Asia and delivering over 100 aerial work platforms to North America.
Additionally, XCMG Brazilian manufacturing base is making breakthroughs in the South American construction machinery market. In 2021, its production and sales volume saw a more than 200% year-on-year increase and its operating scale increased by 198% year-on-year. "The development goal of our Five-Year Plan is to ensure that income from internationalization is no less than 40%," Wang added.
Driving industry change
As a world leader in the construction machinery industry, XCMG's vision is driven by long-term investment and high-level innovation in research and development into the technology surrounding its equipment.
In recent years, XCMG has continued to strengthen its innovation capacity and develop leading scientific and technological research. Among its products are the world's largest tower crane XGT15000-600S, the world's largest rear-drive mining dump truck DE440, super-large mining grader GR5505, and domestic tonnage loader XC9350, which form part of its extensive catalog of high-quality machinery.