Fujian Xinyuan Ranks No.1 in Global Wheeled Excavator Sales with 20% Market Share in 2024

Author:

QingluChen

According to statistics released by Off-Highway Research on August 4, 2025, Fujian Xinyuan Heavy Industries Co., Ltd. ranked first in global wheeled excavator sales in 2024, with 5,536 units sold and a 20% market share

Based on independent research by Off-Highway Research, a world-renowned management consultancy specializing in the construction, mining, and agricultural equipment industries, Xinyuan topped the global wheeled excavator sales ranking among the top fifteen manufacturers, outperforming established international brands including HD Hyundai Infracore (Devlon, 3,288 units), Volvo (2,920 units), and Liebherr (2,460 units). Other manufacturers on the list include Hyundai (1,934 units), Caterpillar (1,910 units), Sany (1,780 units), and XCMG (1,170 units).

Founded in 1990 and headquartered in Luojiang District, Quanzhou City, Fujian Province, Fujian Xinyuan Heavy Industries is a national-level "Little Giant" enterprise specializing in specialized and sophisticated technologies. The company started as a large-scale import construction machinery repair enterprise and successfully developed China's first 5-ton 360-degree full-rotation wheeled hydraulic excavator in 2000, filling a domestic industry gap. Over more than three decades of development, Xinyuan has grown into an innovative modern enterprise focused on the R&D, manufacturing, and sales of wheeled excavators, with products covering the 5 to 15-ton range.

Xinyuan has also demonstrated exceptional performance in the domestic market. According to data from the China Construction Machinery Industry Association, total industry-wide wheeled excavator sales reached a record high of 11,896 units in 2024, with Xinyuan capturing 46.54% of the market with 5,536 units sold, securing its position as the domestic sales champion for three consecutive years (2022–2024). In 2024, the output value of Quanzhou's construction machinery industry exceeded RMB 100 billion, with Xinyuan maintaining the No.1 position in domestic wheeled excavator market share for five consecutive years.

This recognition by Off-Highway Research solidifies Xinyuan's position not only as the leader in China's wheeled excavator market but also as the industry leader on a global scale.