Lovol Heavy Industry Practical and Efficient

In the global construction machinery industry, Chinese manufacturers have won recognition in the international market with their excellent products and high cost performance. In recent years, the global construction machinery market has continued to expand in scale, reaching approximately $137 billion in 2023. Chinese construction machinery manufacturers have seized the opportunity, and their export value has increased significantly. According to customs data, in 2024, the export value of Chinese construction machinery increased by 8.87% year-on-year to $52.859 billion. Among them, Lovol Heavy Industry has performed particularly outstandingly, with overseas revenue accounting for more than 53% in 2024.

Sailing into a New Course

Lovol Heavy Industry embarked on its overseas development journey right at 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 become Lovol Heavy Industry's 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 many places around the world, and building a global R&D system that includes the European Scientific and Technological Innovation Center, the Japanese Innovation Center, the Qingdao Technology Research Institute, and others.

In January 2021, Lovol Heavy Industry officially joined the Weichai Group. Relying on its global marketing and service network (with 7,510 authorized service stations at home and abroad, 200 parts agents or central warehouses, achieving a 15-minute rapid response), the development of overseas markets has entered a new course.

Leapfrog Growth

Lovol Heavy Industry is well aware that "it takes a good blacksmith to make good steel," and regards high-quality products as the key to success, fully investing in R&D, manufacturing, and product construction.

In terms of R&D, it has established nine R&D centers, covering multiple fields such as excavators, loaders, mining excavators, mining trucks, system development, industrial design, and future technology research, with no limitations on R&D expenses and talent introduction. In terms of manufacturing, it has established a "two locations and three factories" system. The Qingdao Lighthouse Factory is a first-class intelligent factory, and after the upgrade of the Yangzhou Mining Truck Factory, the automation rate and production efficiency have been significantly improved. In terms of products, relying on the advantages of the Weichai Group, it has introduced hydraulic power systems, forming the advantages of "low fuel consumption and high efficiency," expanding products such as extended-range mining trucks, and improving the product portfolio, covering excavators, loaders, mining trucks, and backhoe loaders of various tonnages.

In addition, through transformations in many aspects such as the market, management, technology, and structure, Lovol Heavy Industry has achieved leapfrog business growth and set the goal of "achieving a business scale of 17 billion yuan by 2030," demonstrating its strict requirements for product quality and its ambitions in the global market.

Up to now, Lovol Heavy Industry's global sales and service network has covered more than 120 countries and regions, and has formed a global marketing and service network system integrating "sales, service, parts supply, user training, and information feedback" in strategic markets such as Latin America, Southeast Asia, Africa, and the Commonwealth of Independent States.

Marching into the European and American Markets

Lovol Heavy Industry is no longer satisfied with its achievements in emerging markets and has frequently appeared in the high-end markets of Europe and America in recent years.

On April 7, 2025, Lovol Heavy Industry will make its debut at the global construction machinery event, bauma Munich in Germany, showcasing six models of mini excavators and one model of high-end hydrostatic compact loader. These products have been developed by Lovol Heavy Industry after in-depth research on the needs of European and American customers, combining comfort and high cost performance. Lovol Heavy Industry regards the European market as the core area of its overseas strategy. Upholding the concept of "creating greater value for global customers," it upgrades and develops product portfolios with multiple emissions, multiple certifications, and differentiated products for different countries in the European region to meet the diverse needs of the market.

It is believed that after the baptism of the world's top construction machinery exhibition, Lovol Heavy Industry will move towards more mature markets. In the future, Lovol Heavy Industry will continue to consolidate its advantages in regional central countries, gradually expand its global market presence, achieve localized operations, and create efficient, energy-saving, and intelligent high-quality products for global customers. (This article is from the official website of Seetao.com, www.seetao.com. No reprinting is allowed without permission. Otherwise, legal liability will be pursued. If reprinting, please indicate Seetao.com + the original text link.) Editor of the Strategic Column of Seetao.com / Yin Shiqian