Chinese construction machinery manufacturers are accelerating their international layout to meet future opportunities and challenges
On June 22, 2024, Chinese construction machinery manufacturers have achieved remarkable results in the process of globalization and have formulated strategies to comprehensively respond to future challenges. China's economy and construction machinery industry are under the tide of major changes unseen in a century. In the face of the new global situation, economic and industrial situation, the in-depth application of many new technologies has promoted the adjustment of strategies and actions of Chinese construction machinery manufacturers, and actively Adapt to the future and seize opportunities.
Global layout and market development
Strengthen global layout Chinese construction machinery manufacturers have further increased their efforts to expand overseas markets. According to data from the China Construction Machinery Industry Association, China's cumulative exports of construction machinery in 2023 were US$48.552 billion, a year-on-year increase of 9.57%. The company's optimized layout in the global market and increased investment in key markets and emerging markets have become important factors in maintaining growth.
Promote localization strategy In international markets, implementing a localization strategy is the key to success. By establishing R&D centers, production bases and sales service networks overseas, we will improve the level of localization and meet the needs of local markets. Zoomlion has made breakthroughs in market layout in many countries and regions, and its product sales have repeatedly broken export records, which is inseparable from its localization strategy.
Expand diversified markets In addition to traditional European and American markets, companies are also actively exploring the potential of emerging markets, such as Southeast Asia, Africa, and South America. The infrastructure construction and industrialization process in these markets provide huge development space for the construction machinery industry.
Technological innovation and industrial upgrading
Deep application of new technologies Under the new global and economic situation, in-depth application of new technologies is an important strategy for Chinese construction machinery manufacturers to cope with the future. Enterprises increase investment in research and development, promote intelligent, digital and green technological innovation, and enhance product competitiveness and added value.
Pay attention to new energy products With the advancement of global carbon neutrality goals, new energy products have become an important direction for future development. Construction machinery manufacturers are actively developing and promoting electric hybrid products to meet the policy needs of various countries for new energy vehicles. For example, Sany Heavy Industry promotes the overseas expansion of electric hybrid commercial vehicles and seizes the opportunities of global new energy vehicle policies.
Strategic adjustment and long-term planning
Prepare for a long-term "low and protracted war" Facing uncertainty in the domestic market, Chinese construction machinery manufacturers are preparing for a long-term trough. The company adjusts its product sales structure, focusing on the development of small and large excavators to adapt to the adjustment stage of domestic infrastructure construction.
Accelerate comprehensive overseas expansion With the prospects of the domestic market uncertain, accelerating all-out overseas expansion is an inevitable choice. China's construction machinery industry has core technology and financial strength, and entering the international market is an inevitable stage of future development. Through international layout and localized operations, Chinese companies have achieved new growth in the global market.
Business success stories
Zoomlion Zoomlion's overseas revenue will reach 13.029 billion yuan in 2023, a year-on-year increase of 100.53%, and the revenue proportion will increase to 36.69%. It has continued to make breakthroughs in markets such as Turkey, Saudi Arabia, Malaysia, Australia, and Spain, and its product sales have repeatedly broken export records.
Liugong Liugong's international business growth rate will outperform the industry by nearly 20 percentage points in 2023, with international business revenue exceeding 10 billion yuan for the first time, a year-on-year increase of more than 30%.
Sany Heavy Industry Sany Heavy Industry's international market is growing rapidly, and overseas sales revenue accounts for more than 50% of the company's operating revenue. In the first half of 2023, the European region achieved sales revenue of 8.182 billion yuan, a year-on-year increase of 71.56%; the Americas region achieved sales revenue of 3.958 billion yuan, a year-on-year increase of 22.65%.
in conclusion In the process of internationalization, Chinese construction machinery manufacturers have seized opportunities and responded to challenges by strengthening global layout, promoting localization strategies, expanding diversified markets, in-depth application of new technologies, and accelerating comprehensive overseas expansion. Through these measures, Chinese companies will achieve new breakthroughs in the global market and inject new impetus into future development.
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