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Construction equipment owners are a pretty loyal bunch, with strong ties to their brand of choice. Find out where your favorite lands on the list of top 10 construction equipment manufacturers based on sales figures, which, by the way, reached a record high in 2021.
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% over the previous year, with sales for the top 10 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 $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.
Here are the world’s top 10 construction equipment manufacturers, ranked from the bottom up to keep you in suspense:
10. Sandvik (Sweden) - A new entry into the top 10 is Sandvik Mining and Rock Technology, with sales of $7.2 billion. The company acquired 14 businesses in 2021 as part of its ambitious growth strategy.
9. Hitachi (Japan) - Hitachi Construction Machinery Company saw sales increase on this year’s list to $8.8 billion from $8.5 billion last year. In 2021 it was announced that Hitachi and John Deere had ended their long standing joint venture.
8. Liebherr (Germany) - Liebherr had sales of $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.
7. Zoomlion (China) - Zoomlion drops two places on the list with sales of $10.4 billion. This is to be expected as last year the company moved from number 10 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.
Volvo CE enjoyed a strong increase in sales last year (photo: Volvo)
6. Volvo CE (Sweden) - Volvo Construction Equipment enjoyed strong sales of $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.
5. John Deere (U.S.) - Deere & Co., headquartered in Moline, IL, manufactures agricultural, construction, forestry machinery and more under the John Deere brand. The company climbs a place on the list with sales of $11.3 billion. Deere purchased the Wirtgen Group in 2017, which saw it rise sharply up the table.
4. Sany (China) - Sany Heavy Industry Co., Ltd. is the second Chinese company in the top 10 of the Yellow Table. Sany had sales of $16 billion, up from $14.4 billion from last year’s list. Sany has a wide product range, but is especially known for its excavators.
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 $18.1 billion in 2021.
2. Komatsu (Japan) - Komatsu is the world’s second largest supplier of construction and mining equipment with sales of $25.3 billion, a strong increase from last year’s sales of $19.9 billion. Komatsu sells its products around the world, but it is especially strong in its home market of Japan.
1. Caterpillar (U.S.) - Caterpillar, headquartered in Illinois, is once again the world’s largest construction equipment manufacturer with sales of $32 billion, which equates to 13.8% of the list’s total amount. Caterpillar produces a wide range of construction equipment including excavators, wheel loaders, skid-steer loaders, motor graders, backhoe-loaders, hauling trucks and more.
Click here for a look at last year’s list.
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