BEIJING, Sept. 10, 2019 /PRNewswire/ -- The T50 Summit of the World Construction Machinery Industry released the 2019 edition of the world's top 50 construction machinery manufacturers on September 3 in Beijing, China, ranking XCMG 6th worldwide, continuing XCMG's lead as the highest-ranking Chinese company for 20 consecutive years.
XCMG Takes 6th place in Global Top 50, Continues 20 Year Lead of China’s Construction Machinery Industry.
T50 and CCMA (China Construction Machinery Association) jointly hosted the event with the AEM (Association of Equipment Manufacturers) and KOCEMA (Korea Construction Equipment Manufacturers Association). More than 800 industry leaders and users from 13 countries attended to explore the future development of the construction machinery industry.
China is the largest construction machinery market in the world, and the Chinese construction machinery industry is breaking the competitive landscape in the global market with stronger technologies, products and services. The 12 Chinese companies listed in the top 50 have a total combined sales revenue of USD29.873 billion.
"Construction machinery is a vibrant industry. As a veteran brand, XCMG has maintained a strong growth momentum in a competitive market for 30 years. In the next 10 to 20 years, the majority of the world's major mainstream construction machinery enterprises will be in China," noted Wang Min, chairman and CEO of XCMG.
By upholding the "Advanced and Endurable" gold standard, XCMG has achieved numerous breakthroughs. XCMG is now leading core technology development, owning 7,062 patents, 1,570 patents for invention, 53 PCT patents and participated in setting six international standards as well as 211 national and industrial standards.
In 2018, XCMG's hoisting and earthmoving machinery sectors both reported revenues of over 10 billion yuan (USD1.4 billion).
Globally, XCMG runs R&D centers, manufacturing bases and KD factories in 10 countries including Germany, Brazil, US and India, and has acquired three European enterprises including Schwing. The company now exports to 183 countries and regions worldwide, covering 97 percent of the countries of the "Belt and Road" Initiative and holds the highest export market share in 35 countries.
XCMG is a multinational heavy machinery manufacturing company with a history of 76 years. It currently ranks sixth in the world's construction machinery industry. The company exports to more than 183 countries and regions around the world.