CHANGSHA, China, May 27, 2022 /PRNewswire/ -- SANY, the fast-growing Chinese construction equipment manufacturer, was never hindered by the pandemic in its pace of internationalization. Instead, its market coverage and product share outside the Chinese market enjoyed a boost, with the company's increased investment in R&D, sales, service and staffing.
Data shows that the company is on track to become a global giant. In 2021, the company achieved overseas revenue of $314.5 million USD, a year-on-year increase of 54%, and a compound growth rate of 30.1% in the past three years.
Take mining equipment and logistics equipment for example.
The overseas sales revenue of mining equipment achieved $133.6 million USD in 2021 (101.1% year-on-year increase) while the figure for logistics equipment was $180 million USD (a year-on-year increase of 31.2%). Europe, Southeast Asia and the United States were the fastest growing markets, with growth rates of 95.7%, 48.1% and 42.1%, respectively.
SANY's second-generation 70+ t fuel-powered, electric, wide-body vehicles and 100-300 t electric-wheel mining vehicles have been launched. As for logistics equipment, a complete product spectrum was formed for the European and American markets, offering a full range of electric reach stackers, stackers and automated and large-scale remote-controlled quay crane products.
While SANY mining equipment focuses on six main regions including India, Central Asia and Africa, logistics equipment focuses on Europe, America and Asia-Pacific markets. Across the globe, robust dealer systems have been established which have been generating stable sales volumes.
Knowing that after-sales service is key to the customer experience, SANY is continually optimizing its international service strategy to adapt to the international market environment. Localization and on-line transformation for spare parts distribution and service provision continue to be a work in progress.
2022: Great acceleration
The first quarter of 2022 witnessed even greater growth of 161% year on year, a result attributable mainly to the company's steady improvements in the areas of management, digitization, electrification and internationalization. Almost all product lines are now growing at an unprecedented growth rate in international sales, with mining machinery at 255% and logistic equipment at 98.8%. New sectors the company has recently entered also look promising, with a 105% year-on-year growth being recorded in the sales of robotic products such as intelligent logistics AGV, high-voltage lithium forklifts and three-dimensional smart warehouses, among others.
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