The top 10 largest heavy equipment manufacturers in the world are some of the most reputable heavy-duty machinery and construction equipment suppliers in the global market. Led by the world’s largest machinery manufacturing giants like Caterpillar of the United States and Hitachi and Komatsu of Japan, these top 10 largest heavy equipment manufacturers in the world has maintained their leading positions in 2018 and are expected to continue their dominance in the market over the near future, thanks to the projected sales growth generated from the rapid development of infrastructure and housing industries around the world. To help your business stays at the top of your industry, BizVibe provides the best solutions to source the products and make the best business deals with the top companies with its complete heavy equipment manufacturers list.
Global Heavy Equipment Manufacturing Industry Analysis
Heavy equipment mainly refers to heavy-duty machines or vehicles, specially designed for executing construction tasks or other earthwork operations. Major heavy equipment business products include concrete machinery, excavators, cranes, pilling machinery, road machinery, material handling machinery etc. Other industrial heavy equipment can also refer to wind turbines, mining machinery or petroleum drilling machinery.
According to a recent report from Reportlinker, the global heavy construction equipment manufacturing market is expected to reach $230.9 billion by 2020 from $181.6 billion in 2016, representing an impressive compound annual growth rate (CAGR) of 6.2%, from 2016 to 2020. Rapid development in infrastructural projects and in strategic housing constructions around the world is believed to be the key factor that drives the global heavy equipment and construction machinery market growth over the forecast period. Infrastructural development results in increased construction activities, which is forecast to create a significant demand for heavy duty construction equipment around the world in the future.
Geographically, the Asia Pacific region is anticipated to register the fastest growth, registering a CAGR of 6.6% by 2025. This can be attributed to the growth of construction activities in emerging countries such as China, India, and Malaysia. China has been the world’s largest manufacturer of heavy equipment and construction machinery by volume for several years. China’s heavy equipment manufacturing sector is predicted to account for nearly 40% of all global heavy equipment sales between 2016 and 2021. Western Europe and North America are also expected to witness a modest growth of about CAGR of 3% to 4% by 2020.
Top 10 Largest Heavy Equipment Manufacturers in the World 2018
Caterpillar (USA) – 2017 sales: $26.6 billion
Caterpillar Inc is an America based heavy machinery manufacturing company, that designs, develops, manufactures, markets and sells industrial machinery, engines, financial products and insurance to customers around the world. One of the largest manufacturing companies in the US, Caterpillar is also a Global Fortune 500 company. With 2017 sales and revenues of $45.462 billion, Caterpillar is also the world’s largest machinery manufacturer, and the number one manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. The yellow giant continues its dominance as the best heavy equipment brand in the world in 2018.
Komatsu (Japan) – 2017 sales: $19.2 billion
Komatsu Ltd is a Japanese multinational corporation that manufactures construction, mining, and military equipment, as well as industrial equipment like press machines, lasers, and thermoelectric generators. Its headquarters are in Minato, Tokyo, Japan. It has manufacturing operations in Japan, Asia, Americas and Europe. Komatsu is currently the world’s second largest manufacturer of construction equipment and mining equipment after Caterpillar. However, in Asia, Komatsu has a larger share than Caterpillar. It has manufacturing operations in Japan, Asia, Americas and Europe. Komatsu among the most recognized for their excellent performance among the top 10 largest heavy equipment manufacturers in the world.
Hitachi (Japan) – 2017 sales: $8.3 billion
Hitachi Construction Machinery Co. Ltd — a Hitachi Group company — is a leading construction equipment manufacturer based in Japan. It is a first-class company, providing both small and large-scale equipment to clients throughout the world for a varied range of tasks. Hitachi’s major heavy equipment and construction machinery products include Hydraulic Excavators, Forestry Equipment, Mechanical & Hydraulic Cranes, Mining Dump Trucks, Crawler Dump trucks and Wheel Loaders.
Volvo CE (Sweden) – 2017 sales: $7.8 billion
Volvo Construction Equipment, headquartered in Gothenburg, Sweden, has long been one of the top 10 heavy equipment manufacturers in the world. As an auxiliary and business region of the Volvo Group, Volvo CE mainly develops, manufactures and markets equipment for construction and related industries. A leader among the top heavy equipment makers, Volvo CE’s products consist of a variety of wheel loaders, hydraulic excavators, articulated haulers, motor graders, soil and asphalt compactors, pavers, backhoe loaders, skid steers and milling machines.
Liebherr (Switzerland) – 2017 sales: $7.4 billion
The Liebherr Group is a multinational heavy equipment manufacturer based in Switzerland. It has over 100 companies structured into ten Divisions: Earthmoving, Mining, Mobile Cranes, Tower Cranes, Concrete Technology, Maritime Cranes, Aerospace and Transportation Systems, Machine Tools and Automation Systems, Domestic Appliances, and Components. It has over 42,000 employees worldwide and ranked as the world’s largest crane manufacturer in 2017.
XCMG (China) – 2017 sales: $7 billion
XCMG Group is a Chinese multinational Government-owned, heavy equipment manufacturing company with headquarters in Xuzhou, Jiangsu. XCMG is one of the largest construction machinery companies in the world. It is ranked 65th in the list of China’s Top 500 Companies, 44th in the list of China’s Top 100 Manufacturing Enterprises, and 2nd in the list of China’s Top 100 Machinery Manufacturers.
Doosan Infracore (South Korea) – 2017 sales: $6.2 billion
Doosan Infracore, based in Seoul, South Korea, is an international company that produces various sizes of excavators, loaders and diesel engines, ranging from compact to large-size machinery. Doosan Infracore is up-and-coming as one of the globe’s top-tier engine manufacturers based on its diverse lineup of multi-purpose products, which can meet tougher environmental regulations in the world.
Sany (China) – 2017 sales: $5.9 billion
Sany is a Chinese multinational heavy machinery manufacturing company headquartered in Changsha, Hunan Province. It is one of the top 10 largest heavy equipment manufacturers in the world, producing some of the world’s best concrete machinery, excavators, hoisting machinery, road machinery, port machinery and wind turbines. Sany has a dozen industrial parks in China plus manufacturing facilities in Brazil, Germany, India, Indonesia and in the United States. This heavy equipment company has approximately 90,000 employees worldwide.
John Deere (USA) – 2017 sales: $5.7 billion
John Deere is an American industrial machinery manufacturing company headquartered in Moline, Illinois, United States. It mainly manufactures agricultural, construction, and forestry machinery, diesel engines, drivetrains (axles, transmissions, gearboxes) used in heavy equipment, and lawn care equipment. The 2nd biggest heavy machinery companies in the USA, John Deere was also a Global Fortune 500 company in 2017 and sells its industrial machines to all parts of the world — dominating global trade as a key strategy against the competition.
Zoomlion (China) – 2017 sales: $3.6 billion
Zoomlion is one of the largest heavy equipment manufacturers in China. Its headquarters are in the in Changsha, Hunan province. Zoomlion’s heavy equipment and construction machinery products have been well sold to the markets in the Middle East, South America, Africa, Southeast Asia, Russia as well as many high-end markets in the USA, Europe, and Australia. The company has subsidiaries in nearly 20 countries in the East Asia, Southeast Asia, and Europe, etc., also industrial and technological parks in Italy, Germany, India, Brazil, and Belarus as well as more than 50 resident offices around the world.
Future of the Top 10 Largest Heavy Equipment Manufacturers in the World 2018
The rapid development of urbanization and public and private investments for building roads, highways, ports, railway network, dams, irrigation systems, airports, and bridges around the world is driving the demand for heavy equipment and construction machinery, and also offering bigger opportunities for the world’s leading heavy equipment manufacturers. Since the market for construction equipment manufacturing is marginally consolidated with these top 10 largest heavy equipment manufacturers in the world dominating the market, these major industrial vendors are expected to continue their leadership in the global construction machinery market over the near future, due to their strongest performances in production volumes, sales, and exports.
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