Top 10 Largest Machinery Manufacturers in the World 2020 - BizVibe
largest machinery manufacturers

The top 10 largest machinery manufacturers in the world are dominating the global machinery industry — not only by generating billions in revenue for the industry but also supplying and exporting a significant amount of industrial machinery and machine tools to the global market every year. Over the recent decades, the demand of industrial machinery in the global manufacturing sectors — ranging from automotive, construction, electronics to packaging and pharmaceutical industries — has been growing rapidly, thanks to the recovery of global economic conditions. Under this circumstance, the global industrial machinery market is also booming, with these top 10 largest machinery manufacturers in the world leading the productions and sales. It is expected that these major industrial machinery manufacturing companies will continue to be the top vendors in the market over the near future, mainly due to their strong performances in productions, sales, and R&Ds.

This industry fact sheet is to assist industry professionals, investors, and people in general that are interested in gaining insights into the global machinery industry including:

  • What is the global machinery market size?
  • What are the driving factors for the global machinery industry growth?
  • Who is the largest machinery manufacturer in the world?
  • Who are the top 10 largest machinery manufacturers?
  • What are the machinery industry trends for future?

Bizvibe’s smart B2B marketplace solution helps buyers and suppliers in the global machinery industry to find and connect with each other, shorten sourcing and purchasing cycles, and maximise profit growth. Join today to see how BizVibe can help your business grow!

Global Machinery Market Overview

The global machinery manufacturing industry plays a vital role in terms of supplying essential machine tools and other industrial equipment for many other downstream manufacturing and service industries to increase the productivity and reduce cost. Sales of many types of machinery typically are accompanied by a variety of other high-value services, including specialized design, engineering, and logistics. Some of the major segments of the global machinery market include: Industrial Machinery, Agriculture Machinery, Construction Machinery, and Mining Machinery. According to a recent report from Global Market Insights, the global industrial machinery market size is expected to reach US$ 771.6 billion by 2024, representing an impressive CAGR of 5.3% during the forecast period. 

Some of the major industrial machinery subsectors include Agricultural and Food Machinery and Equipment (e.g. agricultural equipment, food processing and packaging machinery, commercial and industrial refrigeration equipment, and commercial food service equipment); Construction Machinery; Manufacturing Machinery (including machine tools for cutting, stamping and forming metal; plastics and rubber manufacturing machinery; and a wide range of cutting tools, dies and accessories); Industrial Process Machinery (such as electric motors, pumps, valves and compressors and industrial controls, as well as material handling equipment); Power and Energy Equipment (e.g. turbines, power transmission equipment and internal combustion engines).

Geographically, North America – also the home of majority top 10 largest machinery manufacturers in the world – is the largest region in the industrial machinery manufacturing market, accounting for around 33% market share around the world. Asia Pacific region was the second largest region accounting for around 29% market share. South America was the smallest region accounting for around 1% market share. When it comes to major end-user markets, construction equipment, mining machinery, oil, and gas machinery are forecast to witness some of the highest industrial machinery sales over the coming years.

Top 10 Largest Machinery Manufacturers in the World in 2020

Rank

Company

Headquarters

2019 Revenue ($ billion)

1

Caterpillar, Inc

Illinois, U.S.

$53.8

2

Deere & Co.

Illinois, US

$39.3

3

CNH Industrial NV

London, UK

$28.1

4

ABB Group

Zurich, Switzerland

$28.0

5

Linde AG

Munich, Germany

$28.0

6

Daikin Industries Ltd

Osaka, Japan

$23.5

7

Komatsu Ltd

Tokyo, Japan

$22.5

8

Ferguson PLC

Reading, UK

$21.8

9

Kubota Corp

Osaka, Japan

$18.9

10

Ingersoll-Rand PLC

Dublin, Ireland

$16.6

 

1. Caterpillar, Inc. – 2019 revenue: $53.8 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. It is one of the Global Fortune 500 companies. With 2019 sales and revenues of $53.8 billion, Caterpillar is the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives.

2. Deere & Co. – 2019 revenue: $39.3 billion

Deere & Co, operating with the brand name 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. It is one of the Global Fortune 500 companies in 2019 and selling its industrial machines to all parts of the world.

3. CNH Industrial NV – 2019 revenue: $28.1 billion

CNH Industrial, registered in the Netherlands with corporate offices in London, is a global leader in the capital goods sector that, through its various businesses, designs, produces and sells agricultural and construction equipment, trucks, commercial vehicles, buses and specialty vehicles, in addition to a broad portfolio of powertrain applications. Present in all major markets worldwide, CNH Industrial is focused on expanding its presence in high-growth markets, including through joint ventures. It has over 63,000 employees in 66 manufacturing plants and 53 research and development centers across 180 countries.

4. ABB Group – 2019 revenue: $28 billion

ABB is a Swiss multinational corporation headquartered in Zurich, Switzerland. It is one of the world’s leaders in industrial equipment, electrification products, robotics and motion, industrial automation and power grids. The Company operates through four divisions: Electrification Products, Robotics and Motion, Industrial Automation and Power Grids, and serving customers in utilities, industry and transport & infrastructure globally. ABB has been a global Fortune 500 company for 25 years. ABB consistently tops these lists of machinery manufacturing companies due to their stellar performance on an annual basis.

5. Linde AG – 2019 revenue: $28 billion

Linde Group, registered as Linde AG, is a German multinational chemical company headquartered in Munich, Germany. It is the world’s largest industrial gas company by market share as well as revenue. Today, the Linde Group is a world-leading supplier of industrial, process and specialty gases and is one of the most profitable engineering companies. Linde products and services can be found in nearly every industry, in more than 100 countries.

6. Daikin Industries Ltd. – 2019 revenue: $23.5 billion

Daikin Industries, Ltd. is a Japanese multinational industrial air conditioning manufacturing company headquartered in Osaka. Its core businesses include air conditioning, chemicals, air filtration, defense systems, and electronic equipment. Today, Daikin has over 90 production bases around the world and selling products to over 150 countries including Japan, China, Australia, India, Philippines, Southeast Asia, Europe, North America, and South America.

7. Komatsu Ltd. – 2019 revenue: $22.5 billion

Komatsu Ltd — one of the largest machinery manufacturers in the world — is a Japanese multinational corporation headquartered in Tokyo, Japan. The company manufactures construction, mining, and military equipment, as well as industrial equipment like press machines, lasers, and thermoelectric generators. It is the world’s second largest manufacturer of construction equipment and mining equipment after Caterpillar.

8. Ferguson PLC –2019 revenue: $21.8 billion

Ferguson plc is a multinational building material distribution company headquartered in Reading, United Kingdom. It is the world’s largest heating and plumbing distributor to the professional market in the USA, UK, Canada and Central Europe. Today, it has approximately 47,000 employees operating across 25 countries. One of the leading machinery manufacturers in the world — Ferguson PLC is expected to continue dominating past 2018.

9. Kubota Corp. – 2019 revenue: $18.9 billion

Kubota Corporation is one of the world’s leading tractor and heavy machinery manufacturers based in Osaka, Japan. The company also produces many other machinery and equipment products including agricultural equipment, engines, construction equipment, vending machines, pipe, valves, cast metal, pumps and equipment for water purification, sewage treatment and air conditioning. Today, Kubota has over 39,000 employees operating in over 110 countries.

10. Ingersoll-Rand PLC – 2019 revenue: $16.6 billion

Ingersoll-Rand plc is an Irish global diversified industrial manufacturing company based in Dublin, Ireland. As one of the largest machinery manufacturers in the world, its four main division include Industrial technologies, Security technologies, Climate solutions, and Residential Solutions. Ingersoll-Rand manufactures and sells industrial and commercial products, such as HVAC equipment, Fluid transfer equipment, air compressors, tools, and material handling devices etc. to over 100 countries in the world.

Global Machinery Industry Trends for Future

The development of industrialization coupled with growing trend of automation is stimulating the global industrial machinery market growth over the recent years. These top 10 largest machinery manufacturers in the world are some of the pioneers and industry leaders in technology advancement. Many of them are using innovative technologies with the industrial internet of things (IIoT), which sensors, computers, networks interact with their environment to generate data and improve industrial processes for faster production and delivery of industrial machinery to customers. This leads to enhanced production efficiency and lower manufacturing costs, which is believed to be one of the key factors to maintain their industry leadership in the near future.

 

Join BizVibe, and discover thousands of world’s leading machinery suppliers and buyers today!

 

Related Post

Recent Posts

top chocolate companies, largest chocolate companies
largest trucking companies
top 10 toy companies in India
largest ecommerce companies
top book publishing companies