Africa was the fastest-growing market region in the world for SANY Heavy Industry in 2024
The China-based group announced its 2024 results recently, stating that its international revenues hit record highs. The company reported US$10.88bn in full-year sales and revenue, up 6.22% year-on-year.
“The African market boasted strong growth, with revenue surging by 44% to US$0.75bn,” the company noted in a statement.
With international sales accounting for 64% of its core business revenue, the company continues to show what it called “remarkable growth despite global economic headwinds”.
In stark contrast to Africa, it said the Europe and America regions showed modest growth of 1.86% and 6.64%, contributing US$1.72bn and US$1.44bn respectively.
Its growth in international markets was also driven by the Asia and Australia regions.
“I’m proud of our achievements in the challenging, yet opportunity-filled, 2024,” said Xiang Wenbo, chairman of SANY Heavy Industry.
The earthmoving, concrete, and hoisting machinery segments contributed 76% of SANY’s full-year revenues, reporting US$4.25bn, US$2.01bn, and US$1.83bn respectively.
Staying committed to decarbonisation, the company also continued to promote the development of clean technology in its equipment. In 2024, it applied 275 low-carbon patents, while low-carbon products generated US$0.56bn in revenue.
SANY is also continuing with the electrification of its main machines, core spare parts and power supply units — in 2024, it launched over 40 electric products, with sales exceeding 6,200 units.
“In 2025, we will deepen technological innovation, strengthen risk management, and enhance governance efficiency, contributing our corporate strength to global sustainable development,” added Wenbo.
The SANY group is active across various market segments and industries in Africa, including renewable energy.
At Germany’s bauma exhibition in April, it showcased 35 products, including excavators, cranes, forklifts and road machinery, with a particular focus on sustainability and innovation.
Earlier in the year, the group also announced the successful deployment of a sustainable microgrid energy solution in support of copper mining operations in Zambia.
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SANY records robust growth in Africa sales
Sany machinery riding high in international markets. (Image source: bauma China)
