The "15th Five-Year Plan" period (2026-2030), as the critical five years in the new journey of comprehensively building a modern socialist country, will bring unprecedented opportunities to the construction machinery industry. In this process, the strategic layouts and goal-setting of construction machinery enterprises not only demonstrate their own competitiveness but also outline the global advancement path of China's construction machinery industry:

LiuGong has proposed a strategic planning goal of achieving operating revenue of 60 billion yuan by 2030; LGMG released a strategic goal of 50 billion yuan by 2030 at its recent Global Customer Festival; Shandong Lingong has set "building a new Lingong in five years" as its strategic goal, planning to achieve overseas revenue of more than 38.5 billion yuan by 2030; XCMG has proposed that by 2030 the company's scale will double again on the basis of 100 billion yuan, with international revenue accounting for more than 60%...

These ambitious target figures not only align with the industry's development trend toward high-end and globalization, but also represent the Chinese construction machinery industry's firm exploration toward higher-quality development amid the wave of industry transformation.

01 Where does the confidence for enterprises' ambitious goals come from?

During the "14th Five-Year Plan" period, China's construction machinery industry was in a critical transition stage from scale expansion to high-quality development. It is expected that during the "15th Five-Year Plan" period, as the effects of macro policies continue to be released, China's construction machinery industry will maintain stable growth. The dual support of policy and market has become the confidence for construction machinery enterprises to dare to set "high goals."

On the policy side, strategic arrangements at the national level have injected a shot in the arm into the industry. The 2025 Government Work Report emphasized "deepening the implementation of major technological transformation and upgrading of the manufacturing industry and large-scale equipment renewal projects," directly driving the release of renewal demand for existing equipment. It is predicted that in 2025 the construction machinery industry's revenue will reach 910 billion yuan, a year-on-year increase of about 3.8%. 

In addition, green and low-carbon transformation has become a policy focus. The report called for "accelerating the development of a green and low-carbon economy" and "actively and prudently advancing carbon peaking and carbon neutrality," prompting construction machinery enterprises to accelerate their layout toward electrification and intelligentization.

On the market side, a clear dual-track pattern of "overseas expansion" and "existing equipment renewal" is emerging.

Overseas markets have become the main engine of growth for China's construction machinery. Financial reports for the first half of 2025 show that the overseas revenue share of many leading enterprises exceeded domestic revenue. For example, Zoomlion's overseas revenue was 13.815 billion yuan, accounting for 55.58% of revenue; Sany Heavy Industry achieved overseas sales revenue of 26.302 billion yuan in its main business, accounting for 60.26%. These figures confirm that the competitiveness of China's construction machinery in the global market is shifting from a "price advantage" to a "value advantage."

The domestic market is also breeding new opportunities. As the country intensifies and expands the implementation of large-scale equipment renewal and consumer goods trade-in policies, a large number of old devices in the domestic market are entering a renewal cycle. Driven by both environmental protection and efficiency, new energy and intelligent equipment have become market favorites. For example, LiuGong's electric loader global sales in the first half of 2025 increased by 193% year on year.

The synergistic effect of policy and market is driving China's construction machinery industry from scale expansion toward quality improvement, providing ample confidence for major enterprises to set goals and pursue development.

02 Strategic measures of construction machinery enterprises

Facing the opportunities brought by the national "15th Five-Year Plan" and the grand blueprint of 2030 revenue goals, Chinese construction machinery enterprises are actively laying out plans from multiple dimensions and integrating their own development into the overall national development agenda.

LiuGong: Actively expanding three major growth curves.

LiuGong's "15th Five-Year Plan" strategic goal is to achieve a revenue scale of 60 billion yuan, of which overseas revenue should account for more than 60% and the net profit margin should be no less than 8%. Compared with revenue of 30.06 billion yuan in 2024, the 2030 target revenue will nearly double. Specifically, LiuGong will focus on the core main business of earthmoving machinery, strategically emphasize the development of growth businesses such as mining machinery and industrial vehicles, and actively expand three major growth curves including agricultural machinery, new technologies, and industrial finance, striving to achieve the above goals.

In terms of globalization, LiuGong President Luo Guobing said that during the "15th Five-Year Plan" period, LiuGong will also firmly implement its globalization strategy. Next, LiuGong will make good use of global R&D, supply chain, production, sales, and service resources to drive high-quality development of the company's global business and truly build LiuGong into a global brand.

In August 2025, the LiuGong Board of Directors officially approved an investment of 500 million yuan to build a manufacturing plant in Indonesia. This is not a simple replication of a production base, but a localized operating system across the entire value chain. In addition, LiuGong has also invested in establishing a financial leasing company in Brazil with registered capital of 150 million reais (about 194 million yuan) to provide local customers with competitive financing solutions.

Lingong: Building a new Lingong overseas

At the Third Global Partner Conference of Shandong Lingong, Wang Zhizhong, Chairman of Lingong Group, systematically elaborated on Lingong Group's new internationalization strategy and for the first time analyzed the group's 15th Five-Year Plan goals.

Regarding the proposed goal of the group's revenue exceeding 100 billion yuan by 2030, Wang Zhizhong's confidence comes from clear strategic planning and a solid industrial foundation.

"One wheel is 'consolidating the foundation and opening up new growth points.'" Lingong's traditional advantageous products such as loaders and excavators continue to maintain a leading position in the domestic market, while the company is vigorously laying out strategic emerging product lines such as industrial intelligence, new energy, and high-end large agricultural machinery. "The other wheel is 'accelerating globalization and achieving new overseas breakthroughs.'" The international market will be where the greatest growth potential lies in the future. "Our goal is that by 2030, the share of overseas revenue will increase substantially, striving to build another Lingong-scale business in overseas markets."

Its new internationalization strategy is "comprehensive advancement, key breakthroughs, and building a new pattern of Lingong internationalization." The so-called "key breakthroughs" means concentrating superior resources and focusing on core global markets, especially the top 20 countries that account for 80% of the global market. "Comprehensive advancement" refers to carrying out all-round deep localized operations, including building overseas production bases and subsidiaries, creating an international financing platform, promoting the localization of talent, channels, and services, and building a complete overseas industrial ecosystem.

XCMG: Doubling again on the 100-billion scale by 2030

XCMG Machinery's annual report data show that in 2024 it achieved operating revenue of 91.660 billion yuan, of which international revenue accounted for 46%, and its products cover 195 countries and regions. UBS has made a positive forecast for XCMG Group's future development. In UBS's forecast, XCMG Group's operating revenue will exceed 100 billion yuan in 2025.

At the opening ceremony of this year's Customer Festival in May, Yang Dongsheng, Chairman of XCMG Group, clearly stated: "By 2030, XCMG's scale will double again on the basis of 100 billion yuan, with international revenue accounting for more than 60%." The confidence behind this goal comes from its "1+14+N" global operating system—setting up R&D centers in 14 countries and forming a four-in-one model of "product export, overseas plant construction, cross-border mergers and acquisitions, and global R&D."

Recently, XCMG released a new round of stock incentive plan, with the core goal of substantially promoting increases in net profit, operating cash flow, and return on net assets. According to the target, by 2027 XCMG Group's net profit will increase by 53.85% compared with 2025, reaching 10 billion yuan.

03 Multiple tests on the road ahead

Behind the ambitious goals of construction machinery enterprises, the industry still faces four obstacles: overcapacity, global compliance, supply chain security, and technological iteration. These test enterprises' strategic resolve and adaptability, and also determine who can laugh last in the industry's elimination race.

First, overcapacity and involutionary competition. The construction machinery industry is currently entering the recovery stage of a new cycle. However, in this cycle, the sales growth of products such as excavators is far smaller than in the recovery stage of the previous cycle, while sales of categories such as tower cranes and engineering cranes continue to decline. The construction machinery industry is deeply trapped in the dilemma of intensifying involution and overcapacity. How to curb vicious competition and digest excess capacity has become a core problem urgently needing to be solved by the industry.

Second, as enterprises accelerate their pace of going global, global compliance risks are becoming increasingly prominent. In August 2025, the Indonesian Business Competition Supervisory Commission (KPPU) imposed a fine of 449 billion Indonesian rupiah (about 197 million yuan) on three companies under Sany Group for violating local competition regulations when selling trucks in Indonesia. Similar market regulations are common around the world. For example, India explicitly requires foreign enterprises to transfer part of their distribution rights to local companies and stipulates that distributors must be local enterprises; the EU builds market access barriers through technical certification and environmental standards... These regulatory differences require enterprises to establish differentiated overseas operating strategies.

Third, the challenge of supply chain security. In some overseas markets (such as Southeast Asia and Africa), local parts supply is insufficient, relying on cross-border supply chains, with high transportation costs and susceptibility to logistics disruptions. At the same time, weak local infrastructure (such as electricity and transportation) restricts enterprise layout and increases operating costs.

Fourth, with the accelerated penetration of new technologies such as AI and the Internet of Things in the construction machinery field, the risk of technological iteration cannot be ignored. Rapid technological iteration is accompanied by uncertainty, and data security vulnerabilities, system stability tests, and the cost of technological iteration have become risk points that cannot be ignored. Enterprises need to continuously increase R&D investment to keep pace with technological change.

Despite multiple challenges, the ambitious goals of Chinese construction machinery enterprises are not castles in the air. From continuous policy empowerment to the dual opportunities of overseas expansion and domestic renewal on the market side, and to the solid advancement of enterprise target strategies, the industry already has the foundation to leap from "scale leadership" to "quality leadership."