Top Ten Heavy Equipment Manufacturers

*Last up to date: 12.03.2020
Following a downward trend in heavy equipment sales throughout the board in the mid 2010’s, 2017 bucked the pattern with a total gross sales determine of $163 billion. This was a marked improvement on 2016’s $130 billion – representing an increase of 21.5% in 2017. Although the rise is encouraging, it is nonetheless significantly less than the 2012 sales determine of $186 billion.

However, the global development tools manufacturing market is predicted to reach $230.9 billion by 2020 from $181.6 billion in 2016 at a compound annual progress fee (CAGR) of 6.2%, from 2016 to 2020.

Construction Equipment Manufacturing Market Growth by Region:
* Asia Pacific building tools manufacturing market is predicted to develop from $92 billion in 2016 to $122.9 billion in 2020 at a CAGR of 7.5% for the interval .
* Western Europe construction equipment manufacturing market is predicted to develop from $23.6 billion in 2016 to $28.5 billion in 2020 at a CAGR of 4.8% for the interval .

While there is cause for cautious optimism, sales nonetheless have some way to go earlier than an upward development can be relied upon. Globally, the market shares of the bigger heavy tools companies remained just about unchanged. Caterpillar, Komatsu, Hitachi, Liebherr and Volvo continue to dominate the top five positions in phrases of manufacturing share.

Interestingly, China’s market share has increased noticeably, with Chinese corporations holding place six (XCMG) and position eight (Sany) in the top ten rankings. As China’s heavy tools producers continue to innovate and develop, it could properly be the case that their dominance deepens as time goes on.

Top 10 Heavy Equipment Manufacturers Worldwide:
Top 10 Heavy Equipment Company Market Share: (2017)

Overview of the Top 10 Heavy Equipment Manufacturers Worldwide: 1. Caterpillar (USA) Firmly entrenched in the primary position, the US firm Caterpillar continues to dominate the trade, taking a massive 16.4% of the market share in 2017. With gross sales of 26,637 million USD, it performs strongly in both the home market and abroad. Offering a broad number of merchandise which are appropriate for a variety of purposes, Caterpillar’s mixture of innovation and steady enchancment, coupled with their formidable status, guarantee they continue to be a key participant in the heavy equipment manufacturing sector. The improvement in the US economic system in recent times may be a factor in Caterpillar’s continued success. 2. Komatsu (Japan) A Japanese big in heavy gear manufacturing, Komatsu retains its quantity two position for yet one more 12 months. Well-known for every little thing from autonomous haulage systems (AHS) via to intelligent machine management and a spread of other hi-tech innovations, Komatsu is a dynamic, forward-thinking manufacturer. Komatsu is a global participant not solely in heavy equipment, but in addition in metal presses, machine instruments, recycling, temperature control equipment, tunnelling equipment and related fields. With heavy tools sales of 19,244 million USD in 2017, Komatsu continues to consolidate its position as a worldwide chief with eleven.9% of the market’s share. The firm is regularly centered on developing tools that is appropriate for twenty first century working. 3. Hitachi Construction Machinery (Japan) During 2017, Hitachi’s heavy gear market share was 5.1%, with a gross sales determine of eight,301 million USD. Hitachi is an enormously various organisation, with heavy gear being just one of many many markets it serves. Concentrating on gross sales in Asia and Africa, where demand is relatively excessive, Hitachi equipment is characterised by a bunch of green characteristics which lead to environmentally friendly working. Innovations similar to battery-powered excavators and hydraulic methods which are ultra energy-efficient be sure that Hitachi provides an optimal resolution for a wide audience in sectors corresponding to agriculture, engineering, power and building. Need work for to your machines? Become a provider on iSeekplant and make a free profile right here. 4. Volvo Construction Equipment (Sweden) Volvo has at all times enjoyed a wonderful status for the engineering quality and safety of their autos; their heavy equipment is no exception. Built to last and integrating new technologies such as diesel/electric hybrids, full suspension articulated loaders and autonomous automobiles, Volvo building tools is seen as a dependable choice by many people. Particularly popular in Europe and Scandinavia, Volvo’s share of the market was four.8%, with a value of seven,810 million USD. With sustainability and innovation on the heart of their ethos, Volvo has moved up a place in the rankings, from fifth to fourth, swapping locations with the German company Liebherr. 5. Liebherr (Germany) In 2017, Liebherr’s sales were estimated at round 7,398 million USD, with a market share of 4.6%. Narrowly missing out on the number four spot, Liebherr continues to ship high quality merchandise in a range of sectors. Despite conceding ground to Volvo in its heavy equipment sector, total Liebherr loved its largest turnover within the historical past of the group. Liebherr supplies a number of telescopic handlers, cranes, excavators, wheeled loaders and dozers. Focusing on creating strong, high-performance equipment that has the sting even in challenging conditions, Liebherr is a well-liked European producer that continues to carry out strongly. 6. XCMG (China) Responsible for products corresponding to a 2,000 tonne all-terrain crane, a 12 tonne heavy-duty loader (the largest in China) and clever street construction equipment, XCMG are a rising heavy equipment group. XCMG have have improved their gross sales not solely inside Asia, but also globally. With sales of 6,984 million USD and a market share of four.3%, the corporate has continued to steadily carve a distinct segment within the aggressive heavy gear market. With a number of Chinese groups starting to achieve important traction within the worldwide market, it’s our prediction that XCMG backhoes, skid steers and cranes might turn out to be an more and more frequent sight throughout the globe. 7. Doosan Infracore (South Korea) Serving a world viewers, Doosan is committed to creating sustainable, durable merchandise which have the capability to perform properly in some of the toughest environments you will find anyplace. The Doosan bobcat company is well-known for its high-performance mini-diggers, featuring compact loaders and excavators as well as utility merchandise and telehandlers. Doosan is a rising presence on the heavy equipment manufacturing international map with a diverse product range appropriate for a lot of completely different purposes. In 2017, the corporate achieved gross sales of 6,232 million USD and had a market share of round 3.8%. eight. Sany (China) Hot on Doosan’s heels, Sany is a Chinese firm that focuses on intelligent manufacturing, sustainable business, new energy improvement in addition to housing and industrialisation. Offering a set of hi-tech solutions, including mini excavators, cranes, loaders, excavators and street constructing tools, Sany merchandise are widely utilized in India and surrounding countries. The firm’s sales had been 6,232 million USD in 2017 and their market share was three.7%. Sany is one of numerous Chinese firms beginning to make their presence felt on the global market, offering significant competition to the traditional domination of corporations from the US, Europe and Scandinavia. 9. John Deere (USA) A well-established US company that’s been round for greater than 200 years, John Deere have a superb popularity for producing premium agricultural equipment, building and forestry gear. Positioned to draw corporations who work on the land, the product range consists of backhoe loaders, skid steer loaders, excavators and graders. In comparability with other earth moving tools corporations in this record, John Deere has a extra restricted product choice. Perhaps this explains why in 2017 the company’s market share was solely 3.5% with sales figures reaching $5,718 million. 10. JCB (UK) The only UK company within the top ten, JCB had gross sales of four,611 million USD in 2017, leading to a market share of two.8%. Pioneers of LiveLink – software program that permits operators to remotely handle JCB equipment, JCB have a history of inventive innovation and constant improvement. Well-known for its excavators, JCB also provide wheeled loaders and a number of road-building gear. JCB is well-represented within the UK and European markets, in addition to having an international presence. The firm prides itself on continuously upgrading and reinventing its merchandise to find a way to meet the altering calls for of the twenty first century office. Heavy Equipment Manufacturing Trends in 2018 and past Although there have been no important changes in the line-up of the top 10 heavy gear manufacturers from the earlier couple of years, it’s clear that the domination beforehand enjoyed by the US and Japanese markets is being challenged, particularly from Chinese and Korean companies. It might be attention-grabbing to see how these developments continue to develop as time goes on against an more and more aggressive international backdrop. Sources: International Construction

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