Top Construction Equipment Manufacturers in World and Market Insight

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Top Construction Equipment Manufacturers in World and Market Insight

1 . Top 10 Construction Equipment Manufacturers

Caterpillar Inc.
Komatsu Ltd.
John Deere
XCMG Group
Sany Heavy Industry Co. Ltd.
Volvo CE
Hitachi Ltd.
Liebherr Group
Doosan Group
Zoomlion Heavy Industry Science and Technology Co., Ltd.

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2 .

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3 . Construction Equipment Market Scenario

The global Construction Equipment market size is expected to gain market growth in the forecast period of 2020 to 2025, with a CAGR of 2.2% in the forecast period of 2020 to 2025 and will expect to reach USD 126.7 billion by 2025, from USD 116.18 billion in 2019.

The above forecast is going to change in the current scenario as COVID has already impacted the major markets. For example in India, the government has increased capital outlay for roads, railways, and metro projects in the recent Union Budget, continued slowdown in project awards, payment delays to contractors, change in the awarding model for road projects and the overall uncertainty in the economy has led to a sharp decline in expenditure on roads during YTD FY2020.

Prior to the outbreak of the coronavirus (COVID-19), it had been predicted that there would be an acceleration in the pace of growth in the global construction industry, to 3.1% from 2.6% in 2019. However, given the severe disruption in China and other leading economies worldwide following the outbreak, the forecast for growth in 2020 has now been revised down to 0.5%.

Though, there are markets like Germany, CEE countries, and China showing signs of recovery but strong pessimism persists when it comes to the Southern European, Indian, North American, and Latin American markets.

Composition of the Construction Industry

Construction equipment distributor
Construction equipment rental company
Construction equipment manufacturer
Industry service supplier
Construction contractor or aggregates producer

Global Construction Equipment Market 2020 by Manufacturers, Regions, Type and Application, Forecast to 2025

Get insights on construction equipment market, that has been segmented into Excavator, Loaders, Motor Graders, Dump Truck, Bulldozers, etc.

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4 . Performance of Leading Players in the Construction Equipment Industry

1. Caterpillar Inc.

Caterpillar (Cat®) construction equipment are known for delivering reliable performance in trying conditions. The next-generation Cat 323D3 and 320D3 excavators, Cat 120 motor grader, 424B2 & 426F2 backhoe loaders are few of their latest machines.

In April 2020, Caterpillar Inc. had announced first-quarter 2020 sales and revenues of $10.6 billion, which reported a 21% decrease in revenue compared with $13.5 billion in the first quarter of 2019. The decline was due to lower sales volume driven by lower end-user demand and the impact of changes in dealer inventories. Dealers increased machine and engine inventories about $100 million during the first quarter of 2020, compared with about $1.3 billion during the first quarter of 2019.

Caterpillar’s financial results for the remainder of 2020 will be impacted by continued global economic uncertainty due to the COVID-19 pandemic. As such, Caterpillar withdrew its earnings guidance on March 26 and is not providing a financial outlook for 2020 at this time.

2. Komatsu Ltd.

Komatsu construction equipment endure some of the toughest working conditions due to unique casting designs and world-class manufacturing processes. With numerous working modes, Komatsu construction equipment produce fast cycle times and excellent operating capabilities.

For the fiscal year under review (April 1, 2019 – March 31, 2020), the first year of the mid-term consolidated net sales totaled JPY 2,444.8 billion, down 10.3% from the previous fiscal year.

In the construction, mining and utility equipment business, demand declined in Strategic Markets, centering on Asia, and in some other regions, as adversely affected by the coronavirus (COVID-19) pandemic in the fourth quarter. As a result, sales decreased from the previous fiscal year.

3. John Deere

John Deere offers connected support services through the JDLink™ telematics connection, the connected support leverages a suite of dealer and factory tools designed to deliver increased productivity and uptime, and lower daily operating costs.

Deere & Company reported net income of $665.8 million for the second quarter ended May 3, 2020. For the first six months of the year, net income attributable to Deere & Company was $1.182 billion.

Company's worldwide net sales and revenues decreased 18 percent, to $9.253 billion, for the second quarter of 2020 and decreased 13 percent, to $16.884 billion, for six months. Net sales of the equipment operations were $8.224 billion for the quarter and $14.754 billion for six months, compared with $10.273 billion and $17.214 billion last year.

4. XCMG Group

The Belt and Road Initiative has built an important platform for the globalization of Chinese construction machinery enterprises. The Chinese construction machinery enterprises represented by XCMG have been put to the test, continuously enhancing their global competitiveness and strengthening their influences in product and technology research and development.

The total sales of China-based XCMG on was nearly USD 12 billion, which is about 5.6% of the total from last year.

5. Sany Heavy Industry Co. Ltd.

SANY Heavy Industry released its 2019 annual report. Last year, SANY's total sales revenue reached USD 10.691 billion with 35.55% year-on-year growth. Total assets increased to USD 12.793 billion and net assets attributable to shareholders of the public company were USD 6.277 billion. According to the report, SANY achieved significant improvement in operating efficiency and per capita output, profitability and global market share, and the control of operating risks.

Last year, SANY achieved USD 2.002 billion international sales revenue, up 3.96% year on year, with rapid growth in Indonesia, USA, Europe, Russia, and Latin America.

6. Volvo CE

VOLVO's net sales decreased by 39% to SEK 73.2 billion. After having been standing still in April, production was gradually restarted in May and is currently running smoothly.

The second quarter of 2020 was characterized by the COVID-19 pandemic and its negative effects on society and economic development. Apart from Asia Construction Equipment segment has declined in terms of the order value for all other major markets.

7. Hitachi Ltd.

Hitachi construction equipment strike a balance between long-lasting bodies that can be operated in confined spaces or harsh conditions, which required level of workability, and are demonstrating their capabilities work sites.

For Fiscal 2019 the Hitachi’s consolidated revenues decreased 8% year over year, to 8767.2 billion yen. In addition to the decrease in the revenue due to the COVID-19 impact in all the segments the decreasing male in it at his metal segment where sales were affected by a decrease in automobile and semiconductor and factory automation.

8. Liebherr Group

The Liebherr Group reported record sales in 2019, with revenues of € 11,750 million. This represents an increase of € 1,199 million, or 11.4 %, compared with the previous year.

Growth was evenly distributed among the Construction Machines and Mining divisions, along with the other product areas. The Group’s sales in construction and mining machinery reached € 7,640 million, an € 807 million (11.8 %) increase compared to the year before. This included the Earthmoving, Mobile Cranes, Tower Cranes, Concrete Technology and Mining. For the other product areas, including the Maritime Cranes, Aerospace and Transportation Systems, Machine Tools and Automation Systems, Household Appliances as well as the Components and Hotels divisions, combined sales reached € 4,110 million, a € 392 million (10.5 %) increase over the year before.

9. Doosan Group

Doosan Infracore Co. is estimated to have suffered weak performances in the second quarter of the year due to the impact of the coronavirus pandemic. South Korea’s No. 1 construction equipment maker is predicted to have posted 1.85 trillion won (US$1.5 billion) in sales in the April-June period, down 16 percent from a year earlier.

Plagued by decreased sales of excavators in China in the first quarter, Doosan Infracore fared well during the second quarter of the year, selling 3,239 units in April and 2,166 units in May. The Chinese excavator market began to show signs of recovery in terms of the operating rate in March, maintaining the trend into April. The total monthly sales figure surged to 29,513 units in May, up 76.5% compared to May 2019.

10. Zoomlion Heavy Industry Science and Technology Co., Ltd.

Zoomlion Heavy Industry Science & Technology Co., Ltd. (Zoomlion) announced financial results for its first quarter on April 29. Operating income was 9.066 billion yuan (USD 1.276 billion), 49.9 million yuan (USD 7.05 million) increase versus the prior-year quarter with strong growth seen in concrete machinery, mobile cranes, and construction hoisting product sales. Net profit attributable to equity shareholders of the Company was 1.026 billion yuan (USD 145 million), delivering a 2.39% year-on-year growth.

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