The global construction market is estimated to be just under $140 billion in 2020 and is expected to grow to over $175.5 billion by 2025. Along with the growth of the market, the demand for construction equipment and equipment rentals is also on the rise.
This growth will also expand the business of the top 10 heavy construction equipment manufacturers, led by Caterpillar in the U.S. and Komatsu in Japan, which sold more than $20 billion worth of equipment in 2020.
1. caterpillar
Caterpillar is the leader among heavy equipment manufacturers, selling $24.82 billion worth of equipment in 2020. Combined sales and other revenues will total $41.7 billion.
Caterpillar also holds the number one spot in market share: in 2017, it accounted for 16.4 percent of the market, pulling in $54.7 billion in sales.Founded in 1925 and based in Deerfield, Illinois, the Fortune 500 company has more than 500 locations around the world and is the construction The Fortune 500 company, founded in 1925 and based in Deerfield, Illinois, has more than 500 locations worldwide and has established itself as a North American and global leader in the construction industry.
Equipment Types
Caterpillar is characterized by a diverse product line, which includes heavy equipment.
2. Komatsu
Komatsu was founded in 1921 as Komatsu Tekkosho and is the world’s second largest construction and mining equipment manufacturer after Caterpillar. The company has 81 manufacturing bases for construction, mining and utility equipment worldwide, including 34 in the Americas. The company also operates in Japan, Asia, Europe, Africa and Oceania.
Komatsu has sold $20 billion worth of equipment in 2020.
Types of Equipment
Komatsu focuses on mining equipment, military equipment, press equipment, lasers, and thermoelectric generators. Construction equipment includes bulldozers,Cement compressor, dump trucks, hydraulic lifters, mini excavators, motor graders, and wheel loaders. The company supports industries such as energy, forestry, manufacturing, quarrying, surface and underground mining, and material handling.
3. XCMG
Xuzhou Construction Machinery Group, or XCMG for short, is the third largest Chinese company in the world with construction machinery sales of $15.16 billion as of 2020. founded in 1943, it ranks 65th among China’s top 500 companies Founded in 1943, it ranks 65th among China’s top 500 companies. The company developed China’s first tower crane, 10-ton steam roller, and 10-ton truck crane.
Types of Equipment
XCMG is focusing on mining equipment, excavators, road equipment, loaders, pile driving equipment, concrete equipment, hoisting equipment, etc.
4. Sany
Sany, like XCMG, is based in China and has a global presence, with sales of $14.42 billion in 2021. founded in 1989, Sany has operations in various regions, including Germany, India, the U.S., and Latin America.
Types of Equipment
Sany manufactures equipment such as cranes, pumps, mixers, excavators, dump trucks, wheel loaders, motor graders, telehandlers, forklifts, track loaders, articulated loaders, reach stackers, single drum loaders, backhoe loaders, elevating trucks, and storage equipment.
It also manufactures wind turbines, pile driving machines, oil drilling machines, and equipment for fire and rescue operations.
5. zoomlion
Founded in 1992 and also based in China, Zoomlion sold $9.45 billion worth of equipment in 2020. It has subsidiaries in East Asia, Southeast Asia, and Europe, and industrial parks in Belarus, Brazil, Germany, India, and Italy. Currently, the company aims to integrate the manufacture of engineering machinery, agricultural machinery, and financial services.
Types of Equipment
Manufactures backhoe loaders, mixer trucks, compactors and rollers, site dumps, mobile and tower cranes, trucks, forklifts, scissor lifts, telescopic boom lifts, and drilling equipment.
6. John Deere
Headquartered in Illinois, John Deere is a well-established company that was founded in 1837. Its distinctive primary color appears in Joe Diffie’s 1993 Top 5 country music hit, “John Deere Greene. The company’s slogan is “Nothing runs like a Deere,” and by 2020, sales had reached $8.95 billion, with lots of Deere runs. John Deere, a Fortune 500 global company, is the second largest manufacturer of heavy equipment in the United States after Caterpillar.
Types of Machinery
John Deere manufactures agricultural, construction, and forestry machinery, diesel engines, and drivetrains for a variety of equipment ranging from mowers to tractors, scrapers to wheel loaders, harvesters to dump trucks. The company is particularly well known for its agricultural machinery, especially tractors.
7. Volvo
When most people think of Volvo, they probably associate it with cars. So it may surprise you to learn that Volvo Construction Equipment is the number one construction equipment company in Europe and the sixth largest in the world in terms of sales ($8.85 billion in 2020). The Swedish company is even older than John Deere, having been founded in 1832. Volvo CE has production facilities in Sweden, Belgium, Brazil, China, India, Korea, the United Kingdom, and the United States.
Types of Equipment
Volvo CE’s product line includes hydraulic machines, excavating machines, wheel loaders, articulated holding (haulers), and cranes.
