The China Mechanical Engineering and the T50 Summit of World Construction Machinery Industry jointly issued the 2024 list of top 50 global construction machinery manufacturers on June 12, 2024. Five Hunan-based enterprises made the list. They are SANY, ZOOMLION, CRCHI, SUNWARD, and SINOBOOM, ranking 7th, 10th, 33rd, 43rd, and 44th respectively. Of which, SINOBOOM moved up 4 places from the previous year's ranking.

The top 50 companies come from 12 countries, namely, the United States, Japan, China, Sweden, Germany, South Korea, Finland, France, the United Kingdom, Italy, Austria, and Canada. Thirteen Chinese enterprises were shortlisted, making China the country with the highest number of selected enterprises.

The list showed that thirteen Chinese manufacturers achieved a total sales revenue of 41.826 billion USD, with 44.24% generating from overseas markets, which was a nearly eight-fold increase compared with 5% a decade ago.

Hunan construction machinery industry has improved the globalization layout, comprehensively elevating the depth, width, and speed of target market expansion. Since the beginning of this year, an array of leading construction machinery enterprises have stepped up going global. For example, SINOBOOM set up subsidiaries in the Middle East and Brazil. ZOOMLION established a comprehensive center in Vietnam, deepening the implementation of overseas localization strategy.

Hunan construction machinery industry witnessed obvious growth in overseas markets. Its products occupied a leading position in emerging markets and the countries involved in the Belt and Road Infinitive, and also made breakthroughs in European and the United States markets. Li Lei, vice general manager of SANY overseas marketing, introduced that the enterprise has achieved outstanding sales performance in Europe and North America this year, with a year-on-year increase of 120%.

This article is from the Hunan Provincial Government www.enghunan.gov.cn.

Translator: Yu Jiangjiang

Chinese source: Voice of Hunan