XCMG Construction Machinery Co Ltd

XCMG Machinery has released its first-half 2026 financial results, reporting revenue of RMB 61.25 billion, up 11.75% year-over-year, with overseas revenue exceeding 50% of total for the first time. Overseas revenue rose 21.03% to RMB 30.92 billion, while net profit attributable to shareholders reached RMB 3.96 billion. R&D investment increased 25.07% to RMB 3.30 billion, and revenue from new energy products approached RMB 10 billion, up 25.82%. The company also noted that revenue from lifting machinery and earthmoving machinery grew 20.37% and 27.80%, respectively, and that it established new trading subsidiaries in France and Nigeria during the period.

Cumulative excavator sales in China exceeded 152,000 units in the first half of this year, with June exports setting a new monthly record. According to the China Construction Machinery Association, major excavator manufacturers sold 152,320 units of all types in the first half of 2026, up 26.4% year-on-year. Domestic sales reached 79,025 units, while exports totalled 73,295 units. In June, excavator sales stood at 25,445 units, a 35.3% increase year-on-year, with exports at 14,547 units, up 36.4%. Monthly sales have surpassed 20,000 units for four consecutive months since March. The loader market also posted high growth, with June sales of 15,002 units, up 24.9% year-on-year, and first-half cumulative sales of 82,052 units, up 26.7%. Electric loaders accounted for about 60% of domestic sales. Market analysts believe the start of an equipment replacement cycle and the ramp-up of major infrastructure projects are the main drivers. Export growth to Africa and Latin America is leading the way, while price increases by manufacturers are easing price competition, and the industry's positive momentum shows no sign of a structural weakening.

The global hybrid concrete pump market is projected to grow from $1.39 billion in 2025 to $2.21 billion by 2030, at a compound annual growth rate of 9.7%. The market is expected to reach $1.53 billion in 2026, driven by demand for diesel-only concrete pump trucks, urban infrastructure development, and rising awareness of equipment efficiency. Growth through 2030 will be fueled by adoption of hybrid powertrains, demand for sustainable construction machinery, large-scale infrastructure investments, and regulatory pressure for energy-efficient equipment. Key trends include advancements in hybrid powertrain systems, telematics for fleet monitoring, automated pumping systems, and digital platforms for sales and service. The Asia-Pacific region leads in market size and is expected to maintain rapid growth, with major players including Volvo Group, Liebherr-International, XCMG Construction Machinery, Sany Heavy Industry, and Putzmeister.