The machinery we use in construction enhances infrastructure, urban expansion, and global development. It provides necessary machinery that optimizes efficiency and productivity on job sites. It is necessary for stakeholders, investors, contractors, and policymakers to understand these leading industries as they directly hit technological advancements and market trends.
Additionally, studies revealed that the market of construction equipment manufacturers reached $151.60B in 2023 and is expected to grow even more in the coming years. We will now categorize some machinery providers based on their repute and yearly revenue.
Top Construction Equipment Manufacturers
Caterpillar
Founded
1925 (the collaboration of Holt Manufacturing Company and the C.L. Best Tractor Company) by Benjamin Holt and C.L. Best in the USA (California).
2023 Sales: $67.1 billion
Caterpillar initiated with simple machinery known as tractors for agricultural tasks. Now Caterpillar is a giant that showcases numerous options in construction equipment like excavators, motor graders, and bulldozers. Today, Caterpillar is known for its paramount range of construction equipment and innovations in sustainability and will remain the leader in the industry.
How can we say it with this confidence? Caterpillar has developed modern technologies such as Cross Slope and Cat Grade to optimize grading efficiency and accuracy.
John Deere
Founded
1837 (John Deere, a blacksmith who introduced one of the first commercially successful self-polishing cast-steel plows in Grand Detour, Illinois, United States).
2023 Sales: $61.251 billion
John Deere invented one of the first steel plows, especially for agricultural use but later expanded into construction machinery. Today, it provides an optimized lineup that involves backhoe loaders, excavators, and motor graders. John Deere is known for its committed quality and innovation, alongside modern features like SmartGrade technology to boost operator precision and efficiency on job sites.
Komatsu
Founded
May 13, 1921 (Meitaro Takeuchi started Komatsu Manufacturing Co. Ltd., reflecting Komatsu City in Japan, which later became Komatsu Ltd).
2023 Sales: $26.222 billion
Initially, Komatsu started by providing machinery and tractors for agriculture. Later, it began providing quality road construction and mining machinery. Today, it’s a giant in the market that showcases a wide range of machinery like excavators, bulldozers, and trash trucks. Not only in its global presence and technological advancements, Komatsu frequently invests in development and research on how to improve and provide boosted efficiency alongside minimizing environmental damage.
CNH Industrial
Founded
2013 (Merger of Fiat Industrial S.p.A. and CNH Global N.V. It’s an American, Italian multinational corporation usually owned by a multinational investment company named Exor).
2023 Sales: $24.7 billion
CNH is one of the construction equipment manufacturers, which showcases a rich portfolio of construction equipment and agriculture. The industry focuses on innovation across its product lines while giving up-to-date machinery that meets the revolutionary market requirements.
Kobelco
Founded
1930 (Not only more than 80 years in the industry, but its parent company, Kobe Steel Ltd., developed the first Japanese construction machine in 1930).
2023 Sales: $18.4 billion
Kobelco’s specialty is in excavators, and it’s a well-known brand when it comes to efficiency and performance. The company has a solid track record for producing reliable machinery that boosts productivity on job sites. In recent years, Kobelco has paid heed to technological improvements to improve fuel efficiency while reducing emissions and aligning with global sustainability objectives.
Liebherr
Founded
1949 (Hans Liebherr introduced the first mobile tower crane while managing his parents’ construction company in South Germany, fulfilling the industry’s demand for efficient machinery).
2023 Sales: $15.2 billion
Liebherr showcases a variety of equipment, of which excavators and cranes are a part. They provide high-quality construction machinery, and their emergence and innovation ensure they remain competitive in the global market.
XCMG
Founded: March 1989 (Originally established in Xuzhou, China, based on a model of “three factories, one institute”).
2023 Sales: $12.83 billion
XCMG focused on road construction machinery in its early stages. Today, it’s showcasing a diverse range of heavy equipment. Like any other construction equipment manufacturer company, this company also keeps a bird’s-eye view of the international market and is known for its innovation, quality, and commitment. XCMG’s nourishment technique involves promoting partnerships worldwide to boost its footprint globally.
SANY Heavy Industry
Founded
November 22, 1994 (Idea of Liang Wengen and Xiang Wenbo, two successful businessmen, to collaborate their businesses to earn more, which resulted in SANY Heavy Industry in Changsha, China)
2023 Sales: $10.43 billion
SANY Heavy Industry is known for its variety of products, particularly excavators. Initiating with concrete machinery and expanding in the construction equipment manufacturing area was an impressive move for this company. The quality, innovation, and commitment made this company the industry’s leader over time.
Volvo Construction Equipment
Founded
1832 (Originally developed in 1832, but in 1913 Munktell and his team introduced Sweden’s first tractor, which made Volvo even more popular).
2023 Sales: $10.03 billion
Volvo is focused on making trends in electric equipment while maintaining sustainability. Its ultimate goal is to minimize emissions and boost fuel efficiency across its product line. Volvo will serve more in the future by providing environmentally friendly machinery while retaining the commitment to sustainable construction practices.
Hitachi Construction Machinery
Founded
1949 (Hitachi Construction Machinery, a Japanese firm, launched full-scale production with the U05 cable-operated shovel in 1949, employing local technology without relying on Western advancements, marking a pivotal moment in its history).
2023 Sales: $9.86 billion
Construction equipment manufacturers like Hitachi provide modern solutions to improve safety and efficiency. Hitachi strengthens its relations and collaborates with technology leaders to improve innovation. This approach results in effective training simulators for operators without compromising productivity.
JCB
Founded
October 23, 1945 (JCB was founded by Joseph Cyril Bamford on October 23, 1945, in a small garage in Uttoxeter, Staffordshire, UK, marking the beginning of its rise to a global leader in construction machinery).
2023 Sales: $8.65 billion
Companies like JCB focus on growth and struggle to provide the best to remain competitive. Construction machinery manufacturers like JCB focus on key markets like India and Northern America. In addition, the company is known for its innovative and long-lasting backhoe loaders and has expanded its artifact range drastically over the years. JCB’s resilience and commitment to quality and performance make it competitive and well-known.
Doosan Bobcat
Founded
1896; acquired Bobcat in 2007 in South Korea.
2023 Sales: $7.37 billion
Bobcat has expertise in compact equipment, and for various construction needs, it is considered a key player in the compact machine market. To retain its value in the market, Bobcat prioritizes innovation by showcasing versatile solutions that cater to different job needs.
Sandvik Mining & Rock Technology
Founded
1862 (Göran Fredrik Göransson, the first person in the world who was successful in employing the Bessemer technique for steel production on an industrial scale in Sweden).
2023 Sales: $7.2 billion
Sandvik Mining & Rock Technology is an expert in crushing, drilling, and monitoring equipment, providing services to boost mining tasks. Hence, the company emphasizes innovation, sustainability, and automation using battery-electric vehicles and digital solutions that promote safety and productivity while lowering environmental effects.
Zoomlion Heavy Industry
Founded
1992 (Dr. Joseph Siaw Agyepong developed a Chinese company to manage waste and later got expertise in modern engineering and agricultural machinery, as well as innovative construction materials).
2023 Sales: $6.4 billion
Zoomlion is known for its rapid growth and diverse product range in construction machinery, prioritizing quality and innovation, which has solidified its status as a leading manufacturer globally.
Terex
Terex (Euclid company developed by George A. Armington to manufacture off-highway hauling trucks, which later became Terex in Cleveland, Ohio).
Founded
1933 (Founded when George A. Armington developed the Euclid Company to manufacture hauling trucks).
2023 Sales: $5.15 billion
Terex is well-known for its diverse product portfolio, featuring materials processing equipment and aerial work units. The company keeps an eye on supplying high-quality machinery that recognizes consumer’s needs. Therefore, in 2023, Terex celebrated a 16.6% increase in sales compared to the previous year because of the strong demand across several countries.
Construction equipment manufacturers are doing good. However, there are some bold types of robots that most industries use. Some give them flexibility, while others are built to perform a single task. Based on industry size and needs, these bots are doing good. If you are interested in learning about these industrial robots, click here.
