"In Europe, for Europe, XCMG is committed to becoming an important participant and trusted partner in Europe's low-carbon, intelligent, and sustainable development." At the opening ceremony, Yang Dongsheng, Chairman of XCMG Group and XCMG Machinery, stated, "The German-Chinese saying, 'The fast walk alone, the far walk together' is a fusion of wisdom from both nations." He emphasized, "We always adhere to our mission of 'Engineering technology leads, equipment builds a better future' and our sustainable development strategy of 'globalization.' We are determined to create more value for customers and contribute to global sustainable development."

On the morning of April 7th, local time, the 34th Bauma exhibition, known as the "Olympics of the global construction machinery industry," grandly opened. Among more than 3,200 exhibitors from over 60 countries, XCMG Group, with its partner SANY, made a stunning appearance with over 60 products from seven categories under the theme "Solid Innovation For Green Tomorrow." The company brought fully European-compliant, customized products and integrated smart solutions tailored to the needs of European clients. The event was attended by guests including Consul Guo Fang from the Economic and Commercial Office of the Consulate General of China in Munich, Su Zimeng, President of the China Construction Machinery Industry Association, Bai Xuefeng, Vice President of the China Chamber of Commerce for Import and Export of Mechanical and Electrical Products, and James King, Chairman and CEO of KHL Group. Yang Dongsheng, along with XCMG Machinery Vice Presidents Sun Jianzhong, Jiang Mingzhong, Shan Zenghai, and other executives, joined global strategic partners, customer representatives, and China-Europe employees to witness the grand opening ceremony.

"Currently, the global manufacturing industry is undergoing profound changes, and smart, green, and international trends are becoming the main themes of the industry’s development. As manufacturing powerhouses, China and Germany will have even broader cooperation opportunities in the future," said Consul Guo Fang.

He added, "I expect XCMG to make full use of the global manufacturing industry’s upgrading opportunity, collaborate with more German enterprises, jointly promote the digital and green transformation of manufacturing, assist in global sustainable development, and provide higher-quality products and services to global customers."

At the exhibition, XCMG's iconic "XCMG Gold" and "Green Mountain Green" colors resonated with the launch of multiple collaborations with European companies. The world’s first hybrid all-terrain crane XCA60_EV, over 40 "Green Mountain Green" electric excavators and loaders in a "CP combination," and the global debut of the XZ450E-R horizontal directional drilling machine were delivered on-site. Additionally, the company received its largest order for road construction machinery in Europe, including rollers, pavers, and graders, sparking a surge of orders for XCMG products.

Behind these deliveries is XCMG's decade-long technical reserve and localized operations in Europe, where the company has focused on segmenting the market and refining its operations. Yang Dongsheng noted, "We have deeply cultivated the European market, making precise adjustments in niche sectors, and effectively merging the SANY and XCMG brands to offer high-quality products and solutions to the European market."

Currently, XCMG has successfully introduced a range of iconic products to the European market, such as the 2000-ton global largest telescopic wind turbine crane, Europe’s first batch of large-tonnage fully electric loaders, and ultra-high aerial work platforms. These products are now serving major global projects, winning admiration from European clients for their pioneering designs, zero-emission crane operations, 200% efficiency improvement in horizontal directional drilling, and multi-scenario, hardcore technology applications.

At the event, the first fully electric concrete pump truck in Germany, developed jointly with SANY, and the Ultra Eco fully electric mixer truck were unveiled. Yang Dongsheng remarked, “Facing global climate challenges, electrification in construction machinery is the inevitable trend." He added, "The fully electric concrete pump and mixer trucks launched by SANY embody the wisdom and craftsmanship of Chinese and German engineers. They not only continue Germany’s tradition of precision manufacturing but also represent the global practice of 'technology leadership' that XCMG and SANY advocate."

If construction machinery had a color, XCMG's "Green Mountain Green" would undoubtedly have a place. At this exhibition, XCMG displayed more than 60 products across seven major categories, with 40% of them being new energy products. Green innovation, deeply understanding European customer demands, and focusing on the core needs of customers for zero-carbon construction were reflected in all the exhibits, all of which were customized products compliant with European standards, addressing application pain points, and closely aligning with local demands for zero-carbon construction.

On-site, the "Green Mountain Green" products representing "energy saving, emission reduction, and efficiency" sparked a brilliant storm of green and digital smart products. XCMG has achieved full-series product electrification and green transformation, constructing a new energy industrial chain ecosystem, which includes "complete products + core components + operation services." A panoramic view of green construction is gradually unfolding along the banks of the Rhine River.

In Europe, XCMG Group actively responds to the European Green Deal, fulfilling its corporate social responsibility by setting zero emissions, low noise, and high energy efficiency as important goals. "Whether it is XCMG’s series of new energy products for construction machinery or SANY’s electric concrete equipment, we are committed to responding precisely to market demands," Yang Dongsheng said at the event. "XCMG is actively responding to the European Green Deal and fulfilling our corporate responsibility, setting zero emissions, low noise, and high energy efficiency as our core goals."

Currently, XCMG’s new energy integrated solutions have been widely applied in global urban construction, municipal sanitation, mining ports, highway transportation, and other mainstream scenarios, covering more than 190 countries and regions worldwide. The new-generation global vehicle networking platform Xrea, launched at Bauma, supports over ten languages in both PC and app versions, allowing global users to manage their equipment via the "cloud" anytime and anywhere.

On April 7th, local time, the bauma 2025 exhibition kicked off at the New International Expo Center in Munich, Germany. At 10:28 AM, Mr. Zhan Chunxin, Chairman and CEO of Zoomlion, along with the executive team, launched the company’s theme exhibition titled “Green · Intelligent Manufacturing, Building a Beautiful World Together.” On the day of the event, new product releases from various sectors of the company continued, with intensive product sales and strategic cooperation agreements being signed, and global customers engaging in continuous discussions. At this prestigious industry exchange event where top global brands gathered, Zoomlion’s expanding global customer base not only showcased the results of the company’s global development but also highlighted the role of Chinese equipment manufacturing companies, represented by Zoomlion, in leading the trends of digital, intelligent, and green development in the industry.

At this exhibition, Zoomlion showcased over 60 flagship products from nine categories including construction cranes, concrete machinery, mining machinery, earthmoving machinery, aerial work machinery, and more. The company also presented system solutions such as smart construction sites and intelligent services. These products and digital solutions reflect Zoomlion's latest innovations in the fields of intelligence, digitalization, and green technology. Since the opening of the exhibition, Zoomlion has seen continuous signings for its products across various lines.

Leveraging strong technological and product innovation capabilities, Zoomlion introduced 7 brand-new products among the 10 earthmoving machinery products on display. These products not only offer excellent quality and comfort, but some models also feature innovative technologies such as 5G remote control, AI-based 360-degree panoramic monitoring, assisted construction/semi-automatic control, and electric-drive energy recovery. The high-end products designed for smart, green, and safe construction attracted much attention.

One of Zoomlion's high-end products, the “THE HIGHEST TELESCOPIC BOOMLIFT IN EUROPE” label was prominently displayed on the 72-meter aerial work platform, symbolizing both strength and technological confidence. In recent years, Zoomlion has successively created 68-meter, 72-meter, and 82-meter products, setting new world records. Based on overseas market demand, the 72-meter product was exhibited and successfully delivered to Nordic customers, making it the tallest aerial work platform in Europe.

The towering R800-40 Aurora Green tower crane was the only Chinese brand tower crane at this year's bauma and is the largest tonnage tower crane Zoomlion has showcased in the European market. Its massive four supporting "legs" are emblazoned with construction projects from globally renowned sites, such as the Astana Expo and Lusail Sports Complex, displaying its rich applications in venues, bridges, and power plants. Upon its debut, the crane won numerous orders for its safety, efficiency, and ease of transportation.

Zoomlion also showcased 6 models of concrete machinery, each with unique features. For example, the 70-meter pump truck incorporates the company’s globally innovative hollow arm frame topology structure, making it lightweight and reliable while being energy-efficient and environmentally friendly. The fully electric concrete mixer truck uses a high-efficiency power chain composed of batteries, motors, fast-charging systems, and integrated electronic controls, achieving zero emissions and significantly reducing energy consumption. The concrete pump truck is equipped with industry-leading intelligent support functions and supports remote upgrades and intelligent fault diagnostics, enabling easier management.

Zoomlion’s exhibition of construction cranes was also noteworthy. Two all-terrain cranes have passed the European Union’s most stringent road regulations and are equipped with various travel modes, including high-speed, city, and heavy-load modes, meeting the road requirements of different regions worldwide. These cranes offer rich configuration options and a wide operational range, covering a broad range of lifting needs across global markets.

Zoomlion presented some of its system solutions that integrate industrial Internet, AI, big data, and new energy technologies at the exhibition. A customer from Poland remotely operated a tower crane located in Changde, Hunan, China, and praised the smooth system response by saying, “Wow, it really understands me!” Another highlight was Zoomlion’s smart mining solutions, which leverage the company’s intelligent equipment and digital technology foundation. These solutions, with a focus on “driverless mining trucks + remote control,” realize fully automated operations for mining, excavation, transportation, and unloading, improving safety and operational efficiency from the source.

In recent years, thanks to its unique overseas business system based on "end-to-end, digitalization, and localization," Zoomlion has been able to connect end-to-end with customers and markets, offering products that closely align with local market needs and providing fast customer responses, which have been increasingly favored by customers.

For example, more than 20 products on display at this exhibition were locally manufactured in Europe by Zoomlion. Whether it’s product performance, technology, standards, or appearance, they all meet the demands and preferences of the local market. The exhibited 72-ton and 62-ton articulated cranes were built with renowned European brand chassis, assembled at Zoomlion's German factory, and fully meet the European EN12999 standards, having obtained CE certification. The R800-40 flat-top tower crane is also produced in China and assembled in Europe, enabling quick delivery and providing efficient service support.

On the eve of the bauma exhibition, the second phase of Zoomlion's German factory project was officially launched. In February, the Hungary high-tech smart factory was also announced. Zoomlion is continually deepening its global industrial layout. Currently, Zoomlion has 11 R&D and manufacturing bases overseas, with over 400 overseas outlets, 210 service parts warehouses, and more than 6,300 overseas employees. The comprehensive global layout and expanding workforce significantly enhance the company’s global delivery and response capabilities, creating greater value for customers and driving the rapid growth of its overseas business.

On the first day of the exhibition, in addition to series of customer and local business cooperation agreements, Chairman and CEO Zhan Chunxin and relevant executives also held in-depth talks with customers and financial institutions from around the world to strengthen cooperation. Their close connection with international markets and customers further demonstrated Zoomlion’s commitment to deepening internationalization and providing all-around services, reinforcing the confidence in future cooperation.

Vice President Yuan Ye delivered a speech at the opening ceremony of Zoomlion’s booth, stating, “The bauma exhibition provides a solid bridge for global industry exchange and deepened cooperation. Zoomlion will take this opportunity to work with friends from around the world to explore new paths of innovation and cooperation, using higher-end, smarter, and greener products to build our beautiful world together.”

Purchasing a used excavator is a process that involves multiple considerations. Below are detailed steps and important factors to keep in mind:

Choosing the Right Purchase Channel:

• Local Second-Hand Markets: Opting for a local market allows for better assessment of the machine's condition and after-sales service while reducing transportation costs.
• Large Certified Second-Hand Markets: Ensure the market has a good reputation and complete documentation, and choose a used excavator with reliable performance and configuration.
• Online Platforms: Platforms such as Youpin Paipai, Tiejia Ershouji, Yunlian Ershouji, Yiji, Xianyu, Taobao, Zhuanzhuan, and Paipai provide official guarantees, but it's important to distinguish between C2C transactions and stores backed by major dealers.

Inspecting the Machine’s Condition:

• Engine: Check for oil leaks, inspect the radiator for dust buildup, and ensure the fan's extension position is normal.
• Boom, Arm, Bucket, and Cylinder Stamps: Verify that the stamped information on the parts is consistent to determine if they are original.
• Control Valve: Look for oil leakage marks; paint coverage may hide potential issues.
• Undercarriage: Examine track wear, check whether track bolts are domestic or imported, and ensure the travel motors operate at consistent speeds.
• Chassis: Look for signs of realignment, especially in cases of accidents or rollovers.

Valuation Methods:

• Age and Brand: Depreciation is typically calculated based on the machine’s purchase year and brand, with a general depreciation rate of 20-30% within three years and 30-40% over 4-5 years.
• Performance and Configuration: Different configurations affect pricing.
• Operating Hours: Evaluate the machine’s usage level and remaining value based on working hours.

Test Drive and Trial Operation:

• Before purchasing, conduct a test drive to check operational performance, observe engine operation, assess travel stability, evaluate the hydraulic system, and inspect the fuel tank condition.

Key Transaction Details:

• Ensure the machine is free of financial disputes.
• Choose an excavator from a more recent year, as it is likely to have less wear.
• Verify that the payment method and amount align with the agreed terms in the contract.
• Confirm that all machine documents are complete to avoid legal risks.

Common Pitfalls to Avoid:

• Do not blindly pursue the lowest price, as it may lead to scams.
• Avoid focusing solely on price—consider the overall condition, performance, and cost-effectiveness.

By following these steps and precautions, you can make a more informed decision when purchasing a used excavator, ensuring that the equipment meets your needs while minimizing transaction risks.

Many friends have asked me a question: What is the price difference between SANY excavators and CAT in the U.S. market?

I fully understand this question because the essence of this inquiry is to determine the market position and brand image of companies like SANY and XCMG (XCMG has made significant progress in the U.S. market in recent years, particularly in the loader segment, where it has gained substantial recognition from American customers).

For Chinese construction machinery companies going global, the U.S. market is the most important market, offering the highest potential shareholder returns. This article attempts to analyze this question from a personal perspective. Due to my limitations, my conclusions may be incorrect, and I welcome readers to provide corrections.

To answer this question, I consulted three professionals in the U.S. construction machinery industry—two in California and one in New Jersey. The responses were as follows:

1. In California, SANY excavators are priced similarly to Komatsu excavators, with a 10% price difference compared to CAT.
2. In New Jersey, SANY excavators are even more expensive than Komatsu, with an 8% price difference compared to CAT.

These figures are approximate; actual differences vary based on region and machine model.

Additionally, after reviewing some equipment usage VLOGs from U.S. construction machinery customers, the price differences mentioned fall within this range. XCMG's products are priced slightly lower—for example, loaders have a 15%-20% price difference compared to CAT.

But does this mean that SANY and XCMG have already surpassed Komatsu in brand image in the U.S. and are closing in on CAT? No, that is not the real answer. Below, I will break down the real factors behind market pricing from two key perspectives.

1.Nominal Price vs. Residual Value

For any durable consumer or capital good, residual value is a key consideration for buyers. In simple terms, residual value affects the total cost of ownership over the equipment’s lifecycle. However, after interviewing many construction machinery users in both China and overseas, I found that this perspective is not entirely accurate.

Construction machinery users are not financial accountants meticulously calculating returns. In reality, hidden costs exist during operations, and most buyers do not explicitly calculate total lifecycle costs. Instead, residual value is crucial because it helps manage customer expectations.

One reason people buy Apple smartphones is that they retain value well. Similarly, Toyota cars are popular partly because of their strong resale value. However, customers generally have only a vague sense of this value rather than precise calculations. This is a form of expectation management rather than a numerical evaluation.

Expectation management must ultimately be self-fulfilling to be effective. So, what is the most significant factor influencing expected residual values?

The nominal price of new machines.

The pricing structure of Apple products—$699, $799, $899—ensures stability, while the budget-friendly iPhone C series was quickly abandoned by the company. A recent example from the automotive industry: BMW chose to raise prices despite losing market share.

The same logic applies to construction machinery:

• CAT holds only about 5% of the new excavator market share, yet in the used market, it dominates. My grassroots research suggests that in some markets, CAT’s used excavator market share exceeds 30%.
• Liebherr sells only a few cranes in China each year, but its used cranes still command high prices.
• An extreme case: the now-defunct Putzmeister concrete pump brand. Despite no longer being sold in China, a second-hand pump dealer told me that he struggles to find inventory because refurbished Putzmeister pumps sell so well—even models from over a decade ago.

This underscores the unique appeal of the used equipment market. Brands that maintain a significant gap between new and used equipment prices preserve strong residual value.

Thus, maintaining high nominal prices is crucial—it reinforces consumer expectations. This is why Chinese manufacturers entering the U.S. market must sustain a high nominal price. This is a strategic decision rather than a reflection of actual market position. Whether selling 50 or 5,000 units, the pricing structure remains the same.

2.Mechanisms Behind Real Prices

In reality, the actual price of Chinese brands in the U.S. market varies by around 30% due to three primary factors:

1. Interest Rates
   During the financing stage, interest-free or low-interest leasing can offset new machine costs. However, this is difficult to quantify since rates fluctuate based on region, time, and model. CAT also offers zero-interest financing for certain models for up to three years. Thus, the net difference here is roughly zero.

2. Warranty
   CAT and Komatsu offer a 2-year warranty in the U.S., whereas SANY and XCMG provide 5-6 years.
   This translates to an approximate price difference: CAT can offer a 5-year warranty, but at an additional cost. Customers can opt for CAT's Extended Protection Plan (EPP), with tiered pricing:

   • 3 years: 3.5%
   • 4 years: 4.5%
   • 5-6 years: around 9%

   This results in an 8% price gap.

3. Configuration
   CAT machines in the U.S. often require additional paid options. For example:

   • Buckets are sold separately.
   • Rollover Protective Structure (ROPS) and quick coupler auxiliary valves must be purchased separately.

   Meanwhile, Chinese brands sell fully loaded models as standard.
   This creates a price gap of roughly 10-15%.

4. Final Price Difference
5. New machine price difference: 8-10%
6. Warranty difference: 8%
7. Configuration difference: 10-15%

This means that the actual price gap between Chinese brands and CAT in the U.S. market is around 30%.

Although these figures are estimates, I am confident in the conclusion. When Komatsu first entered the U.S. market, its pricing was approximately 70% of CAT’s—similar to the positioning of Chinese brands today.

3.Final Conclusions

Returning to the original question, the price gap itself is not important. What matters is: where do Chinese brands stand in the U.S. construction machinery market?

Based on Komatsu’s trajectory, once a brand gains widespread recognition in the U.S., growth can be rapid. In the 1980s, Komatsu’s market share in the U.S. jumped from single digits to nearly 30% within just three years.

Thus, the key is identifying the inflection point for market breakout. This can be assessed through:

• New machine pricing
• Warranty period
• Configuration

New machine prices will likely remain stable. CAT’s 10% premium is due to brand equity, not quality or reliability. CAT is the global leader in construction machinery, with deep emotional ties to American customers. This price gap will persist.

Configuration is also unlikely to change, as it ties into brand positioning and customer expectations.

The most probable adjustment is in warranty duration.

In the electric vehicle industry, NIO initially offered free battery swapping but later introduced fees—while maintaining premium configurations.

Thus, the key indicators to watch are:

1. Nominal prices will remain high to maintain customer expectations.
2. Chinese brands are still in the early stages of market penetration.
3. If warranty periods shrink from 5 to 4 years, it signals strong progress; a drop to 2 years would indicate true mainstream acceptance.

This is my analysis and response to the question many have asked.

I dropped out of high school in my first year. It was a private school in my hometown, and those who know, know—the learning environment was terrible. Instead of staying, I decided to help ease my family's financial burden. My family suggested I learn to operate an excavator, so I went for it. I went to the site with my father, who works as a formwork carpenter—a tough job. My brother found me a mentor… but I had to wait nearly a month and a half. During that time, I was frustrated and bored.

The first mentor I followed was part of a group of three excavator operators. One of them already had an apprentice, and another was the cousin of the other two. I ended up learning from the one closest to my age—he was kind and easygoing. Learning from him felt stress-free and relaxed. Of course, at first, I wasn’t allowed to touch the excavator. I just watched for over ten days until he finally let me operate it and taught me some basic movements. But then… nothing. He never let me touch it again or taught me further.

Do you know why? Because his cousin wouldn’t allow it. Since I was staying at their house and sleeping on the sofa (which was too short for me, so I had to use a stool), I didn’t pay him anything. And since the excavators were his, I wasn’t given a chance to practice. Eventually, I stopped going. Even when I showed up occasionally, he made excuses and told my mentor not to let me operate the machine—thinking I was too young to understand what was really going on. So, I left.

Then came my second mentor—the one I’m currently learning from. The first time I saw him, I felt uneasy. He seemed kind on the surface, but his eyes were full of calculation and deceit. When I arrived at the site, he let me try operating the excavator, asking me to maneuver it out of a ditch. The machine was positioned sideways at the top of the ditch, and I had barely practiced moving it before. Naturally, I struggled. His response?

“Get down, get down. What were you even doing for the past month? You still don’t know this?”

I wanted to explain my situation, but I realized there was no point, so I kept quiet. From then on, he barely let me operate the excavator or taught me anything.

After about a week, he finally taught me properly, and I took it seriously. But soon enough, he returned to his old ways, making sarcastic remarks: “At this rate, you won’t learn this even by next year,” or “Your control is way off,” and so on.

We’re actually related—distant relatives. But in times like these, relatives only seem to exist to take advantage of you.

The work he takes on is the kind that nobody else wants—mainly electrical work. It makes sense that I wouldn’t be allowed to operate in those situations, but the way he talks down to me makes me resent him even more. Even in easy situations where I could practice, he refuses to let me. And if he does, he kicks me off the machine after a few minutes. Infuriating.

After this happened several times, I lost interest in engaging with him. Instead, he started making me help him with manual labor. I accepted it—after all, that’s what apprentices are expected to do.

But after two months, I was reaching my breaking point. I told my family, but no one sympathized. “That’s just how apprenticeships work,” they said.

Every time I got on the machine, I’d be taken off almost immediately—less than ten times in a month and a half. And if that weren’t bad enough, he made me wake up earlier than him every day, only for me to end up waiting for him. Then he’d turn around and say, “Next time, come earlier. Don’t be late.”

And if I was late, he’d scold me even more harshly. If not for the fact that my parents know him (we’re from the same village, even neighbors, and my family has often lent him money), I would have put him in the hospital by now. If the law didn’t exist, he’d probably be six feet under.

It’s been two months, and I’ve barely accumulated half an hour of practice. And to top it all off, he only lets me watch—not even teach me.

Finding a good mentor is so important.