China’s construction machinery industry delivered solid growth in the first half of 2026, supported by a gradual recovery in the domestic market and continued strong overseas demand.

According to industry statistics, 18 major listed construction machinery companies, including XCMG, SANY, Zoomlion and LiuGong, recorded combined revenue of RMB 350.63 billion in H1 2026, up 12.51% year on year. Combined net profit attributable to shareholders reached RMB 26.25 billion, an increase of 5.68%.

Overseas markets remained a major growth engine. XCMG’s overseas revenue reached RMB 30.92 billion, while SANY generated RMB 32.04 billion from international markets. Zoomlion and LiuGong also reported strong overseas growth, with international revenue accounting for more than half of their total revenue.

However, rapid appreciation of the Chinese yuan put pressure on profitability. The four leading manufacturers reported combined foreign-exchange losses of approximately RMB 4.55 billion during the first half.

To mitigate currency risks, leading manufacturers are accelerating overseas manufacturing, local supply-chain development and localized operations. At the same time, several companies have announced price increases for selected machinery products to offset rising costs and exchange-rate pressure.

The H1 2026 results highlight both the opportunities and challenges facing China’s construction machinery sector. As globalization deepens, stronger localization, higher-value products and more sophisticated international operations will become increasingly important for sustainable growth.