All 13 Chinese engineering brands posted brand strength improvements despite 8 of them seeing their brand values fall, according to the world’s leading brand valuation consultancy Brand Finance’s Engineering 50 2024 report which ranks the 50 most valuable and strongest engineering brands in the world.

The brand values of MCC and CEEC proceeded in different directions, with MCC recording the largest decline of 29% to USD 5.8 billion while the fastest-growing Chinese engineering brand performer CEEC’s improved by 22% to USD11.1 billion. Both brands joined their Chinese counterparts with upticks in Brand Strength Index (BSI) scores of 5.7 points to 79.0 out of 100 and 10.3 points to 80.3 out of 100 respectively.

CSCEC is the world’s most valuable engineering brand for the fifth consecutive year, despite a 6% drop in its brand value to USD30 billion. Reduced government infrastructure spending, and generally touch economic conditions, constrained the growth of the Chinese engineering industry over the past year. However, the “Built by China” brand continues to oversee major construction projects and maintains exceptional brand awareness and a strong domestic reputation – according to Brand Finance’s research. With that, CSCEC’s leading market position and brand equity in China’s engineering sector persist.

CSCEC performed well overall, especially for the attributes “Brand I Admire” and “Positive Contribution” within the reputation category – attesting to widespread recognition of the magnitude of its activities. CSCEC’s brand strength has been further bolstered by improved familiarity and ESG scores, as it continues to advance the development of a green, modern city with a focus on sustainable development.

With a 47% increase in brand value, D.R. Horton became the world’s fastest growing engineering brand. The U.S. brand raised its position in the ranking from 25th to 14th place, despite a year of tough economic conditions.

D.R. Horton has cultivated a strong brand reputation in the U.S. by focusing on reasonably priced, entry-level homes. As homebuyers grapple with rising house costs, this strategic positioning has benefitted D.R. Horton’s brand value. The brand also saw a slight uptick in its BSI score, driven by positive performance in Brand Finance’s research metrics, “Brand I Admire” and “Positive Contribution”. These results affirm the brand’s widely positive perception in its domestic market.

As sustainability becomes a crucial imperative for engineering brands, D.H. Horton is also showcasing its environmental leadership. This is evidenced by its improved performance in the ESG metric of Brand Finance’s research. As well as publishing its second ESG report last year, D.H. Horton was the sole homebuilder brand included in the prestigious Dow Jones Sustainability North America Index.

CNBM, the world’s largest cement manufacturer based on production capacity, saw its brand value climb 2% to USD 9.1 billion. The brand’s BSI score also rose by more than 5 points to 77.9 out of 100 while improving its rating from AA to AA+. This growth is largely fuelled by stronger performance across the familiarity, employee, environment, governance and reputation metrics. CNBM also scored well on new metrics including “Brand I Admire” and “Positive Contribution”. These results affirm that the brand is widely perceived as having a positive impact on society by local consumers, which it maintains through product innovation and a heightened focus on sustainable engineering.

A testament to the brand’s success, three CNBM projects and one joint project won China’s 2022-2023 National Quality Engineering Award in 2023. CNBM was also named a Top 30 ESG Excellence Practice in China, in recognition of its enhanced sustainability efforts. The brand also signed a cooperation agreement with tech giant Huawei in 2023, enabling collaboration in the fields of research, innovation and sustainable development. This strategic, high-profile partnership is likely to further boost CNBM’s familiarity and reputation on a global scale.

Richard Haigh, Managing Director of Brand Finance UK, commented:

“CSCEC’s continued dominance as the world’s most valuable engineering brand underscores its robust presence, trusted reputation and familiarity both in China and internationally. However, this year’s results also highlight the dominance of major markets like the U.S., with U.S. engineering brands making significant strides in innovation and environmental leadership. With sustainability becoming ever more crucial, Chinese giants like CSCEC must strive to meet local demands for sustainability to maintain their strong reputations.”

 The full ranking, additional insights, charts, a more information about the methodology and definitions of key terms are available in the Brand Finance Engineering 50 2024 report.---Ed.

Yeon Choul-woong Reporter 다른기사 보기