Sany reveals sales from electric- and hydrogen-powered machines

Chinese construction equipment manufacturer Sany has revealed the total revenue it generated from both electrically powered and hydrogen-powered machines in 2023.

Bauma Sany SCE800TB-EV crawler crane. (Photo: Danfoss)

The OEM said that total revenue from electric products during the year reached CNY 3.1 billion (US$434.8 million), while sales of hydrogen energy products were CNY 130 million (US$17.8 million).

Sany is the sixth largest construction equipment manufacturer in the world, as ranked by annual revenue in US dollars, according to the Yellow Table 2024. Its total revenue for 2023 was US$10.2 billion, according to the ranking.

That means that sales of electric products represent around 4.3% of Sany’s total sales. Meanwhile, hydrogen products account for less than 0.2% of sales, reflecting the fact that the technology is still in its infancy.

Sany said that it launched more than 130 ‘new energy’ products in 2023, including the world’s first fully electric rotary drilling rig, and hydrogen energy mixing truck equipped with its self-developed fuel battery system. It also obtained 275 low-carbon patents and launched three integrated electric drive bridges for tractors, mixers, and dump trucks covering the loading range of 11.5 to 16 tons.

While it did not provide a geographical breakdown showing the level of sales of new energy machines in different regions of the world, the majority are expected to have been in China itself, where the market for electric machines in particular is more advanced than in most other regions.

Sany said that sales of its electric mixer trucks increased by 47% year on year in 2023, while also reporting strong sales of electric cranes.

Xiang Wenbo, rotating chairman of Sany Group, said, “Looking ahead, Sany will continue to strengthen our R&D capabilities and the core advantages of our products to promote green and sustainable development comprehensively. We’re rooted to lower carbon emissions at the source and throughout our operations to build a full-cycle green production chain that will be fuelling the high-quality development of the group, accelerate industry transformation and upgrading, and contribute to reaching carbon peaking and carbon neutrality goals.”

Could US tariffs on Chinese goods endanger adoption of electric construction equipment? When news emerged last month that the US government would be raising tariffs on a wide range of Chinese goods, including electric vehicles and batteries, it wasn’t immediately obvious whether this would apply to construction equipment
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