4 Hunan-based Construction Machinery Manufacturers Make Global Top 500 List
The 2019 T50 Summit of World Construction Machinery Industry opened in Beijing on September 4. It was organized by the China Construction Machinery Association (CCMA), Association of Equipment manufacturers (AEM) of U.S.A., and Korean Construction Equipment Manufacturers Association (KOCEMA).
A list of the world’s top 500 construction machinery manufacturers was released. Four Hunan-based companies – Sany Heavy Industry, Zoomlion Heavy Industry Science & Technology, China Railway Construction Heavy Industry (CRCHI), and Sunward Intelligent Equipment Group, made the list.
The companies on the list are from 13 countries, including 12 from Japan; 12 from China; 7 from U.S.A; 4 from Germany; 3 from Sweden; 3 from France; 2 from South Korea; and, 2 from Finland. UK, Italy, Austria, Canada, and South Africa each has one company included.
Among the four Hunan enterprises, Sany ranked 7th globally and 2nd among Chinese enterprises, only second to Xuzhou Construction Machinery Group; Zoomlion 14th globally; CRCHI 32nd globally; and Sunward 40th. Compared with last year, Sany, Zoomlion, and CRCHI rose one place, and Sunward six.
Firstly making the list in 2017, CRCHI has been on the list for three consecutive years. This year, it won the first place for its operating profit ratio of 23.91%, and fifth for its average return on asset (ROA). Its performances on such two indicators were far higher than other peers.
China, the largest construction machinery market in the world, has attracted numerous world-class construction machinery manufacturers. Among the top 500, nearly 40 companies have set up factories and plants in China.