XCMG Group Eyes $14.7 Billion Overseas Sales with Greener, Automated Machinery

XCMG Group, mainland China’s largest construction machinery maker, aims to achieve annual overseas sales of 100 billion yuan (US$14.7 billion), luring more international clients by turning its excavators, cranes and specialised vehicles greener and more automated.

Yang Dongsheng, chairman of the state-owned machinery giant, told reporters in a media briefing last week that the target would be achieved in line with the company’s ambition of building itself into a top-class machinery producer worldwide.

“Today, XCMG is no longer just a Chinese manufacturing brand,” he said. “As a rising global player, it is an important growth driver and value creator in the global construction machinery industry. No matter which business unit customers walk into, they will see the latest hi-tech, tailor-made solutions.”

The chairman did not elaborate on when the company expected to reach the overseas sales target.

XCMG recorded revenue of 102 billion yuan in 2024 and was now the world’s third-largest construction machinery manufacturer, trailing US-based Caterpillar and Komatsu of Japan, Yang said.

The company said 48 per cent of its sales last year came from more than 100 markets outside mainland China.