On June 11, 2026, an article was published in the community section of Chinese media outlet Guancha.cn, introducing the factors behind U.S. Caterpillar's strength, which demonstrates an overwhelming performance gap, and the strategies of Chinese companies accelerating their overseas expansion with electrification as an opportunity.

The article was published by the self-media "Zhengjieju". The article introduced that U.S. Caterpillar's net profit alone was more than three times the combined total of China's three major construction machinery companies (XCMG Machinery, Sany Heavy Industry, and Zoomlion Heavy Industry Science and Technology), indicating an overwhelming performance gap between U.S. and Chinese construction machinery companies. It explained Caterpillar's strengths from three points.

First, the first factor is a vertically integrated technology supremacy that does not outsource core components and completely masters key technologies from engines to hydraulics and smart-connected systems, which has become a solid foundation built over 100 years.

The second factor mentioned a balanced and diversified business structure with three major divisions: mining machinery, construction industry, and power & energy, and analyzed that this complex management allows them to comfortably overcome various economic cycles. Recently, with the explosive spread of artificial intelligence (AI) computing power, orders for emergency generators for data centers have concentrated, and the Power & Energy division became the company's largest business division from January to March.

The third factor cited the establishment of a strong sales network through its unique dealership network and the creation of a system where its subsidiaries continuously generate revenue at all stages of the product lifecycle, including financing, insurance, maintenance, and used equipment disposal. By providing services that cover the entire lifecycle, it creates a situation where "the purchase price is high, but the running costs are low," forming the fundamental logic that makes customers gladly open their wallets.

Furthermore, it summarized that product generation changes, global operations that are distributed worldwide while maintaining a focus on high-profit North America and securing local production capabilities, and a system that "sells services that become a lifelong business" rather than single-unit equipment sales are the secrets supporting Caterpillar's sustainable growth.

The article mentioned that while it is almost impossible for Chinese companies to circumvent the strong patent wall built by Caterpillar in the traditional construction machinery domain, they possess a unique strength in having the world's most complete new energy supply chain. It argued that they are now facing a good opportunity to overtake powerful U.S. companies like Caterpillar. (Edited and translated by Kawajiri)