XCMG makes global top three on KHL’s Yellow Table 2021
With an annual revenue of $15.1 billion, Chinese construction machinery manufacturer XCMG has moved up to third place in the Yellow Table 2021 ranking of the world’s top 50 construction equipment manufacturers, released by British publisher, KHL Group.
In 2020, the total revenue of Chinese companies recorded growth, contributing $191.5 billion to global OEM sales, which accounted for over 20 per cent for the first time, with China overtaking the U.S. as the number one construction equipment manufacturing power in the world.
“Although China’s ‘super large-scale market’ has brought huge development opportunities to the Chinese construction machinery industry, in the long run, China’s integration into the global market is an irreversible trend,” said Wang Min, Chairman and CEO, XCMG. “As China continues to strengthen its position in the global economic arena, our equipment manufacturing industry will see significant growth on a global scale.”