In the global construction machinery industry, Chinese manufacturers have earned international recognition with their superior products and high cost-effectiveness.

In recent years, the global construction machinery market has continued to expand, reaching approximately $137 billion in 2023.Chinese construction machinery manufacturers have seized opportunities, with export volumes seeing remarkable growth.According to customs data, the export value of China's construction machinery increased by 8.87% year-on-year to $52.859 billion in 2024.Among them, Lovol Heavy Industry has stood out, with overseas revenue accounting for over 53% in 2024.

Navigating New Waters

Lovol Heavy Industry has embarked on a journey of overseas development since its establishment in 2004. By 2015, the company's products had been exported to regions such as Southeast Asia, Africa, and South America, which have since become its strong overseas markets in recent years.

Since 2016, Lovol Heavy Industry has actively promoted its internationalization strategy, establishing R&D centers and sales networks in multiple global locations. This has resulted in the construction of a global R&D system comprising the European Technology Innovation Center, Japan Innovation Center, Qingdao Technology Research Institute, and more.

In January 2021, Lovol Heavy Industry officially joined Weichai Group, leveraging its global marketing and service network (comprising 7,510 authorized service stations and 200 parts distributors or central warehouses both domestically and internationally, achieving a 15-minute rapid response). This marked a new phase in the company's overseas market expansion.

Leapfrog Growth

Lovol Heavy Industry firmly believes in the saying, "One must be strong to succeed." With high-quality products as its key to victory, the company is fully committed to R&D, manufacturing, and product development.

In terms of R&D, Lovol has established nine R&D centers covering various fields such as excavators, loaders, mining excavators, mining trucks, system development, industrial design, and future technology research, with no limits on investment in talent acquisition. In manufacturing, Lovol has built a 'two locations, three factories' system. The Qingdao Lighthouse Factory serves as a top-tier smart factory, while the Yangzhou Mining Truck Factory, after upgrades, has significantly improved its automation rate and production efficiency. In product development, leveraging Weichai Group's strengths, Lovol has introduced hydraulic powertrains to create advantages in 'low fuel consumption and high efficiency.' The company has also expanded its product portfolio with extended-range mining trucks and other products, covering various tonnages of excavators, loaders, mining trucks, and backhoe loaders.

As of now, Lovol Heavy Industry's global sales and service network has covered over 120 countries and regions. In strategic markets such as Latin America, Southeast Asia, Africa, and the CIS, the company has established a five-in-one global marketing and service network system integrating 'sales, service, parts supply, user training, and information feedback.

Advancing into European and American Markets

On April 7, 2025, Lovol Heavy Industry will make its debut at Bauma in Germany, a global construction machinery event, showcasing six mini excavators and one hydrostatic high-end compact loader. These products were developed by Lovol after in-depth research into the needs of European and American customers, offering both comfort and high cost-effectiveness. Lovol regards the European market as a core area of its overseas strategy. Adhering to the philosophy of 'creating greater value for global customers,' the company is upgrading and developing product portfolios tailored to European regions, considering multiple emission standards, multi-certifications, and differentiated national requirements to meet the diverse needs of the market.

It is believed that after being tested at top global exhibitions, Lovol Heavy Industry will enter more mature markets. In the future, Lovol will continue to strengthen its advantages in regional hub countries, gradually expand into global markets, achieve localized operations, and create high-quality, efficient, energy-saving, and intelligent products for global customers.