The global construction machinery market has long been ruled by several world’s largest construction machinery manufacturers over the decades. These reputable heavy-duty machinery and construction equipment suppliers are offering different construction machineries that are used for various purposes during construction projects. Led by the world’s largest construction machinery companies like Caterpillar of the United States and Hitachi and Komatsu of Japan, these top 10 largest construction machinery manufacturers in the world are expected to continue their dominance in the global construction machinery market over the near future, mainly attributed to the strong growth in sales generated from the rapid development of construction and infrastructure sectors around the world.
Global Construction Machinery Market Overview
According the latest market research report from Technavio, the global construction machinery market size is forecast to grow by $47.65 billion from 2019 to 2023, and the market’s growth momentum will accelerate with an estimated CAGR of over 65 throughout the forecast period. The increasing investments in the infrastructure industry to improve facilities in the government and private sectors will boost the growth of the construction machinery market in the earthmoving machinery segment. The rising trend of urbanization in developing nations, such as India, China, and South Africa will fuel the demand for earthmoving machinery during the next five years.
In recent years, investments in infrastructure projects are increasing rapidly across the world. For instance, China has invested heavily in the development and construction of Beijing International Airport. Similarly, the Government of India has made significant investments in several infrastructure development projects, including industrial corridors, Dedicated Freight Corridor (DFC), Bharatmala Pariyojana, the Sagarmala Programme, and UDAN schemes. Several countries are also investing significantly in the development of sports infrastructure and facilities. The increasing spending on such capital-intensive projects and infrastructure development will fuel the demand for construction machinery during the next five years.
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Global Construction Machinery Market 2019-2023
Some of the major heavy construction machinery types include: Crane, Telescopic Handlers, Excavator, Loader & Backhoe, Motor Grader, Bulldozer, Trencher, Loader, Dump Trucks and others.
Top 10 Construction Machinery Manufacturers in the World 2019
1. Caterpillar Inc.
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 not only one of the largest heavy machinery manufacturers in the US, but also a Global Fortune 500 company. Caterpillar’s 2018 revenues reached to $54.7 billion, making it 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.
2. J.C. Bamford Excavators Limited
JCB is one of the world’s top manufacturers of construction equipment. Headquartered in Rocester, UK, JCB has over 14000 employees on four continents. It produces over 300 types of construction machineries and industrial machines, including diggers (backhoes), excavators, tractors and diesel engines. It has 22 factories across Asia, Europe, North America and South America; its products are sold in over 150 countries. In 2018 JCB’s annual revenue totalled $4.24 billion. Today, JCB has become one of the world’s top industrial machinery suppliers to serve various of industries such as construction, agriculture, logistics, waste and recycling, power generation and OEM solutions.
3. CNH Industrial N.V
CNH Industrial is one of the world’s largest capital goods companies with headquarters in London, UK and Amsterdam, Netherlands. CNH Industrial N.V. is currently one of the world’s largest manufacturers for agricultural equipment and construction machineries. It is also engaged in the manufacturing and suppling trucks, commercial vehicles, buses and specialty vehicles for firefighting, defense and other uses, as well as engines, transmissions and axles for vehicles and engines under marine and power generation applications.
4. Hitachi Construction Machinery Co., Ltd.
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.
5. Deere & Company
Deere is one of the leading American industrial and construction machinery manufacturers 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, Deere was also a Global Fortune 500 company and sells its industrial machines to all parts of the world — dominating global trade as a key strategy against the competition.
6. Kobelco Construction Machinery Co. Ltd
Kobelco Construction Machinery is today a leading manufacturing company of excavators and cranes. Founded in 1999 and headquartered in Japan, Kobelco Construction Machinery is one of nine business domains of the Kobe Steel Group. Globally, the group, which was first established in 1905, employs close to 40,000 workers worldwide. Included among the main products and services provided by the Kobelco Construction Machinery are hydraulic excavators, mini excavators, wheel loaders and road construction equipment. The Company’s main products include crawler cranes, wheel cranes, work vessels, and other construction machines. Kobelco Construction Machinery markets their products worldwide.
7. Komatsu Ltd
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. It has manufacturing operations in Japan, Asia, Americas and Europe. Komatsu among the most recognized for their excellent performance among the top 10 largest construction machinery manufacturers in the world.
8. Liebherr Group
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 2019.
9. Manitou Group
Manitou is a French heavy equipment manufacturer that makes forklifts, cherry pickers, telehandlers, and other heavy equipment. It designs, manufactures, distributes and ensures the service of handling, access platform and earthmoving equipment for construction, agriculture and industries. The group’s main products include telehandlers, forklifts, skid and track loaders, articulated loaders, backhoe loaders, aerial work platforms, storage equipment and attachments. Today, Manitou has become one of top construction machinery manufacturers in the world.
10. Mitsubishi Heavy Industries, Ltd.
Mitsubishi Heavy Industries, Ltd. is a Japanese multinational engineering, electrical equipment and electronics company headquartered in Tokyo, Japan. It is now one of the world’s largest industrial and construction machinery manufacturers. Its main products also include aerospace components, air conditioners, aircraft, automotive components, forklift trucks, hydraulic equipment, machine tools, missiles, power generation equipment, printing machines, ships and space launch vehicles.
Other World’s Leading Construction Machinery Manufacturers Include:
Volvo Construction Equipment
Zoomlion Heavy Industry Science & Technology Co., Ltd.
Sany Heavy Industry Co., Ltd.
Construction Machinery Market Trends in 2019
Over the recent years, many top construction machinery manufacturers are focusing on expanding their manufacturing facilities and launching new products to increase their share in the global market. Though the accelerating growth momentum will offer immense growth opportunities, the growing secondhand machine market will challenge the growth of the market participants. To increase their construction machinery market share, companies should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market position, this construction machinery market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this construction machinery market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.