REGIONAL REPORT | ASIA-PACIFIC
ROARING DRAGON
Trade wars and tariffs might grab the headlines. But behind them remains a vibrant and innovative industry in South East Asia, powered by China. DLM takes a closer look at market trends and drivers in this exciting region.
ports and terminals sector – and plans to become a major player in the region. Product development is focused in two
C
areas: electrification and making machines more intelligent. Recently, it launched the Kunpeng S Economy Edition electric forklift along with the new E-series lithium forklifts. The company says they are specifically designed for the South East Asian market’s demand for high cost-effectiveness and adaptability to complex working conditions. “The first batch of 20 units has been successfully deployed for trial use in Thailand and Malaysia, with positive customer feedback,” says Eden Gu, EU overseas business supervisor for XCMG’s forklift and port machinery division. The company is also expanding its port equipment portfolio. The XCH1008E electric stacker with double-box spreaders has entered the final testing phase and is expected to be
From January to July 2024, XCMG’s reach stacker cranes achieved a 47% market share in Thailand, on par with SANY.
hinese manufacturer XCMG is best known for its construction equipment but has a growing presence in the
officially launched in early 2026, completing the port equipment range.
It now offers a dual line of fuel-powered and electric products, including reach stackers (XCS4531K/E), forklifts (XCH907K/E) and tractor units (XPT75E). Its electric port machinery products have passed CE and TUV certifications and meet the environmental standards of various Asia-Pacific countries. In 2024, XCMG Special Machinery passed China’s level 3 certification for intelligent manufacturing capability maturity. “This means that we have reached the industry leading level in core technology research and development and digital production management, enabling us to provide the Asia-Pacific market with more efficient supply and higher-quality products,” adds Gu. The results have been notable. In the South
Korean market, through its distributor Port Rental, XCMG has delivered a total of 85 port machinery products, including 49 XCS4531K reach stackers and 26 XPT75E tractor units,
achieving a market share of 34.38% from January to July 2024. In the Philippine market, after a year of cooperation with Asia Global, it delivered eight reach stackers and 13 tractor units. In the Northwest Petrochemical sector in China, it recently completed the delivery of over 100 customised electric forklifts. They feature a pioneering enclosed, temperature-controlled cab and a seven-in-one integrated controller, helping ensure operation in extreme conditions from -25°C to 45°C.
Regional demand The Chinese market has become more competitive and XCMG says it is now characterised by structural upgrading and demand segmentation. In 2023, the domestic sales volume of electric forklifts accounted for more than 60%, with lithium-ion forklifts growing at a rate of over 25%. “On the one hand, with the advancement of the dual carbon policy and the intelligent transformation of manufacturing, the demand for electric forklifts has remained strong,” says Gu. “On the other hand, demand in niche
sectors is becoming increasingly prominent. For example, the food industry prefers zero-pollution, low-noise equipment and the petrochemical industry needs explosion-proof and high/low temperature-resistant customised equipment. All of these factors are driving the market towards specialisation and scenario-based development.” For XCMG, domestic electric forklift orders
increased by 30% year-on-year in 2024, with customised solutions accounting for 18% of orders. “This shows that market demand is indeed strong, and customers also recognise the value of high-end equipment,” he adds. Beyond China, it cites other high-demand countries as Thailand, South Korea, Malaysia and Singapore.
xiv | December 2025 |
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