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Global Heavy Equipment Market Expected to Hit USD 231 Billion by 2025

Infra News - Published on Wed, 11 Sep 2019

Image Source: Power Equip.com
CK reported that the global heavy equipment market is expected to hit USD 231 billion by 2025 driven by rising demand for machinery from construction, mining, and oil and gas industries. This demand will be met by a huge array of heavy machinery makers worldwide all fighting for a piece of the market.

Here are the world’s top 10 heavy equipment manufacturers:

1. Caterpillar Inc

Caterpillar Inc, which is headquartered in Illinois, United States, tops the list of the world’s largest heavy equipment manufacturers, commanding a market share of 12.6 per cent. The equipment manufacturer designs, develops, engineers, manufactures, markets and sells a wide range of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, as well as diesel-electric locomotives.

The Caterpillar heavy equipment line includes more than 300 machines among them excavators, hydraulic mining shovels, wheel excavators, wheel loaders, compactors, backhoe loaders, and dozers.

Although most of Caterpillar’s heavy machinery are manufactured in the Midwest, some of the company’s other top manufacturing plants are located in China, Brazil, and Russia.

2. Komatsu

Komatsu Limited is a Japanese multinational that produces construction and mining equipment, as well as utility equipment (compact machines), industrial machinery, and forest machines. Komatsu is the world’s second largest manufacturer of construction and mining equipment after Caterpillar, although in Japan and China the company has a larger market share than the Caterpillar.

Komatsu is quite popular for its excavator range – from mini excavators to the more powerful large mining excavators.

3. Deere & Company

Headquartered in Moline, Illinois, Deere & Company is an American multinational that manufactures agricultural, construction, forestry machinery and more under the renowned John Deere brand.

Deere & Company was founded 182 years ago in 1837 by American blacksmith and manufacturer John Deere. Its logo, which incorporates an image of a leaping deer, has been used by Deere & Company for more than 155 years.

The company commands a 5.5 per cent share of the global construction equipment. It sold USD 10.2 billion worth of heavy machinery in 2018, commanding a 5.5 per cent market share.

In 2019, Deere & Company was listed 97th in the Fortune 500 America’s ranking. The company employs about 67,000 workers worldwide, of which half are in the United States and Canada.

4. Hitachi Construction Machinery

Hitachi Construction Machinery Company is a Japanese construction equipment manufacturer specializing in the production, sales, and servicing of a diverse range of construction and transportation machinery, as well as other machines and devices.

Founded in 1970 as a subsidiary of Hitachi Group, HCM is the fourth largest heavy equipment manufacturer in the world. The company has come a long way from its humble beginnings as an electrical repair shop that was started in 1910 by Namihei Odaira.

5. Volvo CE

Volvo Construction Equipment, the construction equipment arm of Swedish car maker Volvo, is one of the world’s most popular heavy equipment companies. The company develops, manufactures and sells equipment for construction related industries, including trucks, mining and construction machinery.

Volvo CE mainly specializes in construction equipment and offers products and services in over 140 countries. The machinery offered by Volvo includes compactors, pavers, and loaders.

Volvo CE offers a wide range of equipment including motor graders, back hoes, hydraulic excavator, wheel loaders, pavers, asphalt compactors, and articulated haulers among others.

6. XCMG

Xuzhou Construction Machinery Group is a China-based manufacturer of civil engineering machines. The company manufactures road rollers, loaders, spreaders, mixing machines, cranes, elevated platform fire extinguishing vehicles and fuel tanks for civil engineering machinery, among others.

XCMG is the largest construction equipment supplier in China. The company has held this position for 29 consecutive years, according to KHL Group’s 2018 list of the world’s top 50 equipment manufacturers.

7. Sany Group

Sany Heavy Industry Co Ltd, based in Changsha, China, is the world’s seventh largest heavy equipment manufacturer and the first of its industry in China to feature in the FT Global 500 and the Forbes Global 2000 rankings. Sany is especially known for its concrete machinery, for which it is globally ranked number one. The company is also a renowned supplier of excavators, wheel loaders and other heavy machines.

Currently, Sany operates 25 manufacturing bases worldwide, with its overseas plants located in the United States, Germany, India, and Brazil. In China, the company has built six industrial parks in Beijing, Changsha, Shanghai, Shenyang, Kunshan and Urumchi.

8. Liebherr Group

Liebherr Group is a popular supplier of heavy equipment in Europe. The company, which was established in 1949 by Hans Liebherr in Baden-Württemberg, Germany, produces a wide range of excavators, cranes, wheeled loaders, telescoping handlers, and dozers.

Liebherr’s LTM 11200-9.1 is arguably the most powerful mobile crane ever built. The German company also boasts the longest telescopic boom in the world, which spans fully to 100 meters. The machine is set on a double cab truck and can lift 1200 metric tons – which weighs about 700 cars.

9. Doosan Infracore

Doosan Infracore Co., Limited is a Korea-based multinational majorly engaged in the manufacture and distribution of heavy construction equipment. The company is globally renowned for its high-performance excavators, wheel loaders, articulated dump trucks, compact loaders, and mini-diggers.

On January 1, 2018, Doosan reorganized its activities in Europe, the Middle East and Africa by transferring control of Doosan Heavy from Doosan Bobcat to Doosan Infracore.

10. JCB

Joseph Cyril Bamford Excavators Ltd., popularly known as JCB, is a European multinational that produces equipment for construction, demolition, and waste handling. Headquartered in Rocester, Staffordshire, the company was founded in 1945 by British businessman Joseph Cyril Bamford, after whom it is named. The company is owned by the Bamford family.

Source :

Posted By : Sanju Moirangthem on Wed, 11 Sep 2019
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