Recent data released by the China Construction Machinery Industry Association shows that in the first half of this year, the total exports of the 12 major categories of products under the association’s jurisdiction reached 371,700 units, up 12.3% year-on-year. Of the 12 major categories, 10 experienced positive growth, with the asphalt paver up 89.5%.

Industry experts said that in recent years, Chinese construction machinery companies have seized opportunities in overseas markets, increased their overseas investment, actively expanded overseas markets, and innovated their international development models from “going out” to “going in” to “going up”, continuously improving their global industrial layout, and making internationalization a weapon for crossing industry cycles.

Overseas revenue share rises

“The overseas market has become the company’s ‘second growth curve’,” said Zeng Guang’an, chairman of Liugong. In the first half of this year, Liugong achieved overseas revenue of 771.2 million yuan, up 18.82%, accounting for 48.02% of the company’s total revenue, up 4.85 percentage points year-on-year.

“In the first half of the year, the company’s revenue in mature and emerging markets increased, with the revenue from emerging markets growing by more than 25%, and all regions achieving profitability. The African market and the South Asian market led the overseas regions in growth, with their revenue share increasing by 9.4 percentage points and 3 percentage points respectively, and the company’s overall business regional structure has become more balanced,” Zeng Guang’an said.

Not only Liugong, but also Sany Heavy Industry’s overseas revenue accounted for 62.23% of its main business revenue in the first half of the year; the overseas revenue share of Zhonglan Heavy Industries increased to 49.1% from the same period last year; and XCMG’s overseas revenue accounted for 44% of its total revenue, up 3.37 percentage points year-on-year. At the same time, thanks to the rapid growth of overseas sales, the improvement of product prices and product structure, the leading enterpr The relevant person in charge of Sany Heavy Industry said that in the first half of the year, the company’s phase II factory in India and the factory in South Africa were being built in an orderly manner, which could cover Southeast Asia, the Middle East and other regions after they went into operation, and would further provide strong support for the company’s globalization strategy.

At the same time, Sany Heavy Industry has established a research and development center overseas to better tap the overseas market. “We have established global R&D centers in the United States, India, and Europe to tap local talent and develop products to better serve global customers,” the relevant person in charge of Sany Heavy Industry said.

Advancing towards high-end

In addition to deepening the localization of overseas markets, Chinese engineering machinery companies are also leveraging their leading technological advantages in electrification to enter the high-end overseas market.

Yang Dongsheng told reporters that XCMG is currently undergoing a transformation and upgrading period, and is paying increasing attention to high-quality development and the expansion of high-end markets, or “going up”. According to the plan, the revenue from overseas business of XCMG will account for more than 50% of the total, and the company will cultivate a new engine of global growth while rooting itself in China.

Sany Heavy Industry has also achieved impressive performance in the high-end overseas market. In the first half of the year, Sany Heavy Industry launched a 200-ton mining excavator and successfully sold it in the overseas market, setting a record for the sales volume of excavators overseas; Sany Heavy Industry’s SY215E medium-sized electric excavator has successfully broken into the high-end European market with its excellent performance and energy consumption control.

Yang Guang’an said, “At present, Chinese engineering machinery companies have a significant advantage in emerging markets. In the future, we should consider how to expand the markets of Europe, North America, and Japan, which have large market sizes, high value, and good prospects for profitability. Expanding these markets with traditional technologies faces