LiuGong Makes Gains In North America

LiuGong Makes Gains In North America

50 to 75 Percent Growth Forecast For 2023. 

LiuGong, based in China, reported $3.9 billion in construction equipment sales worldwide in 2022, down 5 percent from 2021 sales of $4.1 billion.

For North America, according to Andrew Ryan, president of LiuGong North America, business grew 75 percent in that period. No sales numbers were provided.

“From 2020 to 2021, our business grew by 90 percent,” Ryan said in a statement. “We expect our business will grow at least by 50 percent this year and more likely by 75 percent as we continue to add more dealer partners and get more of those repeat purchases from our customers.”

LiuGong cites investment in its material handling business.

“LiuGong as a corporation made big investments and commitment to be in the forklift in material handling business,” Ryan said. “We invested more than $100 million in factory automation in our plant in China, and commensurately we've invested to build a team to help grow the business in North America.

“With our new leadership group for the material handling business, we’ve grown the business more than 10 times,” he said. “We’re very excited about the growth of that business, and we expect long term that it’s going to be between 40 and 50 percent of the total business that we do in North America.”

Source: https://www.constructionequipment.com/earthmoving/news/33008230/liugong-makes-gains-in-north-america