World’s top 10 construction equipment manufacturers
By Andy Brown13 June 2022
The latest Yellow Table, International Construction’s annual ranking of the world’s top 50 construction equipment manufacturers by sales figures, has revealed that sales for 2021 increased by 20.8% to a record high of US$232.7 billion with sales for the top ten on the list rising sharply.
An increase in sales was expected, with the sales results of many companies on the list being badly impacted by the Covid-19 pandemic in last year’s list. However, such a steep rise was not expected – the figure of US$232.7 billion is the highest ever figure for the Yellow Table.
Click here to view the latest Yellow Table in the new issue of International Construction magazine and read the full analysis.
World’s top 10 construction equipment manufacturers:
1. Caterpillar, USA
Caterpillar, headquartered in Illinois, US, is once again the world’s largest construction equipment manufacturer with sales of US$32 billion, which equates to 13.8% of the list’s total amount. Caterpillar produces a wide range of construction equipment including excavators, wheeled loaders, skid steer loaders, motor graders, backhoe loaders, hauling trucks and more.
2. Komatsu, Japan
Komatsu is the world’s second largest supplier of construction and mining equipment with sales of US$25.3 billion, a strong increase from last year’s sales of US$19.9 billion. Komatsu sells its products around the world, but it is especially strong in its home market of Japan.
3. XCMG, China
Xuzhou Construction Machinery Group (XCMG) is once again the largest construction equipment supplier in China and the third largest in the world. XCMG has enjoyed a strong rise up the table in recent years, and had sales of US$18.1 billion in 2021.
4. Sany, China
Sany Heavy Industry Co., Ltd. Is the second Chinese company in the top ten of the Yellow Table. Sany had sales of US$16 billion, up from US$14.4 billion from last year’s list. Sany has a wide product range, but is especially known for its excavators.
5. John Deere, USA
Deere and Company, headquartered in Moline, Illinois, manufactures agricultural, construction, forestry machinery and more under the John Deere brand. The company climbs a place on the list with sales of US$11.3 billion. Deere purchased the Wirtgen Group in 2017, which saw it rise sharply up the table.
6. Volvo CE, Sweden
Volvo Construction Equipment enjoyed strong sales of US$10.7 billion to see it rise a place on the table. Volvo CE, like most European companies, saw sales badly impacted by the pandemic and, as expcted, enjoyed a strong increase in sales on this year’s list. Volvo CE is one of the leading OEMs regarding electric equipment.
7. Zoomlion, China
Zoomlion drop two places on the list with sales of US$10.4 billion. This is to be expected as last year the company moved from number ten to five thanks to the Chinese market growing while all other markets stalled, so this drop to number seven is something of an evening out.
8. Liebherr, Germany
Liebherr had sales of US$9.4 billion, which saw the company climb one place on the list. Liebherr produces a wide range of equipment including excavators, cranes, wheeled loaders, telescoping handlers, dozers and drilling rigs.
9. Hitachi, Japan
Hitachi Construction Machinery Company saw sales increase on this year’s list to US$8.8 billion from US$8.5 billion last year. In 2021 it was announced that Hitachi and John Deere had ended their long standing joint venture.
10. Sandvik, Sweden
A new entry into the top ten is Sandvik Mining and Rock Technology, with sales of US$7.2 billion. The company acquired 14 businesses in 2021 as part of its ambitious growth strategy.