The global Construction Equipment Suppliers are expected to be worth more than $175,5 billion by 2025, up from an estimated $139.5 billion in 2020. In this business, the market has grown at the same rate as the need for new construction equipment and the need to rent it.
Caterpillar, based in the United States, and Komatsu, based in Japan, are two of the top ten companies that make heavy construction equipment that will benefit from this change.
Last year, the construction, mining, and oil and gas industries helped the heavy Construction Equipment Suppliers market reach new heights.
The market grew by 20.8% in 2021, from $191.5 billion in 2020 to $232.7 billion in 2021, according to the 2022 Yellow Table, an annual ranking of Construction Equipment Suppliers. The previous record was set in 2019 at $202.7 billion.
Here we’ll discuss the 10 Best Construction Equipment Suppliers:
1. Caterpillar
By 2020, Caterpillar will have sold $24.82 billion worth of heavy equipment, making it the leader in its field. In sales and other ways, $41.7 billion was made.
Caterpillar has the biggest share of the market. In 2017, it had 16.4% of the market and made $54.7 billion. Since its start in 1925, the Fortune 500 company based in Deerfield, Illinois, has been a leader in construction on every continent except Antarctica.
Types of Equipment
Caterpillar sells a lot of different things, like heavy machines.
2. Komatsu
Komatsu Iron Works was the company’s name when it began in 1921. Since then, it has grown to become the biggest company in the world that makes equipment for building and mining. It has 81 places, and 34 of them are in the Americas. Many different kinds of construction machines, mining, and utility equipment are made in these factories. It does business in Japan, as well as in Asia, Europe, Africa, and Oceania.
Komatsu thinks it will make $20 billion from selling equipment in 2020.
Types of Equipment
Komatsu is best at making Construction Equipment Suppliers for mining, the military, printing presses, lasers, and thermoelectric generators. Construction equipment includes bulldozers, dump trucks, hydraulic lifters, micro excavators, motor graders, and wheel loaders. Some industries that can use it are material handling, energy production, logging, manufacturing, quarrying, surface mining, and underground mining.
3. XCMG
By 2020, Xuzhou Construction Equipment Suppliers, also known as XCMG, will have sold $15.16 billion worth of construction equipment, making it the third largest company in the world in this field. It was started in 1943 and is now the 65th largest company in China. It made China’s first 10-ton tower, steamroller, and truck crane.
Types of Equipment
Most of what XCMG sells are mining tools like drills, excavators, loaders, pile drivers, concrete pumps, and hoists.
4. Sany
Sany is a Chinese multinational company like XCMG. In 2021, it was expected to make $14.42 billion in sales. It was started in 1989, and now it has offices in places like Germany, India, the United States, and Latin America.
Types of Equipment
Cranes, pumps, mixers, excavators, dump trucks, wheel loaders, motor graders, telehandlers, forklifts, track loaders, articulated loaders, reach stackers, single drum loaders, backhoe loaders, aerial work platforms, and storage equipment are all made by Sany.
The company doesn’t just make windmills. It also makes gear for stacking, drilling for oil, rescuing people, and putting out fires.
5. Zoomlion
The Chinese company Zoomlion, which was started in 1992, is expected to make $9.45 billion by 2020. You can find industrial parks in Belarus, Brazil, Germany, India, and Italy. The company also has offices in Europe, East Asia, and Southeast Asia. The company is now trying to make the best technology, farm machines, and financial services.
Types of Equipment
Zoomlion makes backhoe loaders, mixer trucks, rollers for packing materials, site dumpers, mobile and tower cranes, vehicles, forklifts, scissor lifts, telescopic boom lifts, and drilling rigs.
6. John Deere
John Deere is an Illinois-based company that has been in business since 1837. Joe Diffie’s country song “John Deere Greene,” which made it to the top five in 1993, is a tribute to the brand’s signature colour. Even though the company’s motto is “Nothing Runs Like a Deere,” it didn’t stop $8.95 billion in sales in 2020. John Deere makes more farm and construction equipment than any other company in the United States. It is a Fortune 500 company.
Types of Equipment
John Deere makes various tools for various industries, such as mowers, tractors, scrapers, wheel loaders, harvesting tools, and dump trucks. Tractors, in particular, have become a big part of how people think of the company.
7. Volvo
When people hear the word “Volvo,” they think of cars. Volvo Construction Equipment is the largest construction company in Europe and the sixth largest in the world in sales ($8.85 billion in 2020). The Swedish company was started in 1832, a long time before John Deere. Volvo CE has factories in the United States, Sweden, Belgium, China, India, Korea, the United Kingdom, and Brazil.
Types of Equipment
Volvo Construction Equipment Suppliers mak many machines, such as hydraulic excavators, wheel loaders, articulated hauliers, cranes, road compactors, pipelayers, and demolition rigs.
8. Hitachi
Hitachi was founded in Japan in 1910 and made $8.55 billion in sales by 2021. In the Western Hemisphere, John Deere’s construction and forestry company handle sales, marketing, and a lot of product support. This relationship started in 2002. Deere-Hitachi makes excavators in Kernersville, North Carolina, and in Sao Paulo, Brazil. Hitachi is a big company that makes things for businesses and people (North America, Asia, Europe, Japan, and Africa).
Types of Equipment
Hitachi makes a wide range of construction equipment, such as hydraulic excavators, mechanical and hydraulic cranes, mining dump trucks, crawler dump trucks, wheel loaders, haul trucks, and forestry equipment.
9. Liebherr
A German-Swiss Construction Equipment Suppliers called Liebherr will make $7.81 billion in sales in 2020. It was started in Germany in 1949, but now its main office is in Bulle, Switzerland. The Liebherr family still runs the business, which is where it got its name. Liebherr makes more than just tools for construction and farming. They also make refrigerators and other household items.
Types of Equipment
Liebherr makes cranes of “every shape and size,” including mobile, tower, and ship cranes. The company also makes wheel loaders, crawler tractors and loaders, telescopic handlers, drilling rigs, dump trucks, and other earth and mining equipment. Other important areas to study are transportation systems, aviation technology, and concrete technology.
10. Doosan Infracore
South Korea’s Doosan Infracore was the first big company on the peninsula to make the machinery of any kind. In 2021, sales of construction tools will bring in $7.11 billion.
Types of Equipment
Doosan makes a wide range of construction equipment, including excavators of different sizes, wheel loaders, articulated dump trucks, special applications gear (designed to work well in various situations), and accessories.
Conclusion
When it comes to construction tools, you can get them from many different places and use a lot of different machines. If you want to buy new construction tools but aren’t sure if they will work, it’s a good idea to rent them first and try them out on the job site.
