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Top 5 construction equipment manufacturers in the world

Top 5 construction equipment manufacturers in the world:



Top 5 construction equipment manufacturers in the world

In a demanding business of construction, choosing the right construction equipment can be all you need to have a competitive edge over other contractors. The following are the top construction equipment manufacturer in the world you may want to consider when constructing a building.
1. Caterpillar (U.S.)
As the world’s largest auctioneer of heavy equipment they always have a large selection of construction equipment in upcoming unreserved public auctions—including unused and late model construction machinery from Caterpillar, Case, Volvo, John Deere, Komatsu, JCB, Bobcat and other well-known construction equipment manufacturers, including unused and late model construction machinery.
Even with an US$11 billion decrease in 2013 revenue, the well-known yellow giant still managed to hold on to the number one spot in the annual ranking survey. Heavily dependent on earthmoving equipment sales – specifically, excavators, loaders, bulldozers, crawler dozers, scrappers, and shovels – Caterpillar couldn’t avoid the impact of a softening mining sector. Orders for mining equipment decreased worldwide as commodity prices fell yet again in 2013 and mine owners switched their focus from building infrastructure and opening new mines to increasing production in order to make up for the shortfall
2. Komatsu
Komatsu America Corp. is a U.S. subsidiary of Komatsu Ltd., the world’s second largest manufacturer and supplier of earth-moving equipment, consisting of construction, mining and compact construction equipment. Komatsu America also serves forklift and forestry markets. Through its distributor network, Komatsu offers a state-of-the-art parts and service program to support its equipment. Komatsu has proudly been providing high-quality reliable products for nearly a century.
As economic growth stagnated in China, so did sales for in one of Komatsu’s biggest regional market. But a depreciating Yen helped Komatsu boost exports to other regional markets. Overall, Komatsu managed a slight +2.3% increase for the year, making it one of the year’s biggest winners.
3. Volvo Construction Equipment
Volvo CE’s products and services are offered in more than 125 countries through proprietary or independent dealerships. Customers are using Volvo machines in quarries & aggregates, energy related industries (oil & gas), heavy infrastructure, utilities, road construction, building, demolition, recycling industry, industrial material handling, and forestry industry.
Their product range includes wheeled and crawler excavators (diggers), articulated haulers (dumpers, dump trucks), scraper haulers, wheel loaders, pipelayers, demolition equipment, waste handlers, motor graders, pavers, compactors, milling equipment, tack distributors, road wideners, material transfer vehicles and a range of compact equipment such as mini loaders and mini excavators
In 2012, Volvo launched a two-year strategy aimed at “increasing the probability and market share of road equipment”.3 As part of this strategy, Volvp purchased Terex Corporation. The acquisition added five models of rigid haulers and three articulated haulers to Volvo’s line-up, giving the company a boost to the number 3 position and increasing its sales of equipment to the general construction, oil and gas, and road building sector.
4. Hitachi Construction Machinery
HCM was established in 1970, when Hitachi, Ltd. spun off its construction machinery division. When it was still part of Hitachi more than 60 years ago, HCM was involved in the production of Japan’s first mechanical excavator.
Currently, the 48 companies that comprise the HCM Group are using IT as a strategic management resource to provide total solutions for customers’ needs. In this way, HCM continues to grow as a strong, global, competitive enterprise.
As was the case with its fellow Japanese construction equipment manufacturer Komatsu, Hitachi’s construction equipment sales revenue also increased thanks in part to a fluctuating yen and an increase in exports. Another helpful boost came from a continued strong demand for Hitachi hydraulic excavators in China and Japan during the third quarter of 2013.4 However, Hitachi’s position could prove precarious as a drop-off in domestic demand, a continuing economic slump in China and slow mining equipment sales threaten any potential gains in 2014.5
5. Liebherr
The Liebherr family business was established in 1949 by Hans Liebherr. The great success of his first mobile, easy-to-assemble and affordable tower crane was the foundation on which the company flourished. Today Liebherr is not only one of the world’s leading manufacturers of construction machinery but is also an acknowledged supplier of technically innovative user-oriented products and services in numerous other fields. The company has now grown into a Group with more than 39,000 employees in more than 130 companies across all continents.
The decentrally organized Liebherr Group is divided into company units of manageable size, operating independently.
Despite a slight fall in construction machinery revenue – specifically for earthmoving, mobile cranes and tower crane sales – Liebherr managed to move from the number 7 spot on the Yellow Table to number 5, ousting Sany who dropped to 8th place. For 2014, Liebherr plans to grow its 4.6% market share through investments in a new logistics center in Germany; an expansion of its Adelaide, Australia location; and the addition of a new hydraulic production plant for hydraulic excavators, wheel loaders and material handling equipment in Dalian, China.6
Top 5 construction equipment manufacturers in the world

World's top 5 construction equipment manufacturers - 2015 edition | Ritchie Bros. Auctioneers



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World's top 5 construction equipment manufacturers - 2015 edition | Ritchie Bros. Auctioneers:


World's top 5 construction equipment manufacturers - 2015 edition

In the April 2015 issue of International Construction magazine, KHL released the 2015 annual Yellow Table ranking of the world’s 50 largest construction equipment manufacturers1. The ranking of the ‘Top 50’ provides valuable insight into the construction industry and the global economy.
According to KHL, the global construction equipment market saw some improvement in mature markets such as North America and Europe in 2014, and a decline in emerging markets, most notably China. Emerging markets struggled as a result of the downturn in the mining industry, as many developing countries rely on the extraction and export of raw materials for their economic growth2.
Komatsu equipment on Ritchie Bros. auction ramp
Overall, the Top 50 saw their combined revenues fall -2.6% in 2014 to US$159 billion, compared to a drop of -12.2% in 2013. According to KHL, this deceleration suggests that the construction equipment industry may be slowly recovering from the downturn and returning to growth3.
Nevertheless, combined revenues for the Top 50 in 2014 were 15% below the peak of US$186 billion in 2012, and not yet back to the pre-crisis high of US$168 billion in 20084.
Although the industry is slowly improving, weak market conditions in China and other emerging markets, reduced activity in the global mining industry, and currency fluctuations have affected the financial performance and placement of many of the companies on the list.
Here’s a look at the world's top five construction equipment manufacturers, as published in the 2015 Yellow Table ranking:

1. Caterpillar (U.S.) - 2014 rank: #1

Cat wheel dozer at a Ritchie Bros. auction site
Caterpillar retained its 13-year reign at the top of the Yellow Table, despite a drop in construction equipment revenues from US$31.1 billion in 2013 to US$28.3 billion in 2014. As a result, Caterpillar experienced a 1.2% drop in share of the revenue of the Top 50, down to 17.8%, still significantly higher than second-placed Komatsu’s 10.6%.
Caterpillar has the largest share of the mining equipment market; as a result, the Yellow Giant has been particularly affected by the weakness in the global mining industry5.

2. Komatsu (Japan) - 2014 rank: #2

Komatsu wheel loader on the Ritchie Bros. auction ramp
While Komatsu retained the no. 2 position for the 13th year straight, the Japanese manufacturer became more price competitive against Caterpillar in 2014 due to the 20% decline in the yen against the US dollar6. Since 63% of its assets are located in Japan, Komatsu is able to manufacture and sell its products at a lower cost than US-based Cat6.
Nevertheless, like Caterpillar, Komatsu saw its revenues drop year-over-year, from US$17.6 million in 2013 to US$16.9 billion in 2014.

3. Hitachi Construction Machinery (Japan) - 2014 rank #4

Hitachi excavators at a Ritchie Bros. auction
Like Komatsu, the fluctuations in the Yen benefited Japan’s Hitachi in 2014 and allowed the manufacturer to switch places with Volvo and inch into the top three on the Yellow Table2. WhileHitachi and Volvo both had US$7.8 billion in sales and 4.9% of the Top 50’s combined revenues,Hitachi earned US$5 million more in revenue which put the Japanese manufacturer in the no. 3 spot.

4. Volvo Construction Equipment (Sweden) - 2014 rank #3

Volvo articulated dump truck on Ritchie Bros. ramp
A 0.1% drop in Top 50 market share from 5.0% to 4.9% took Volvo Construction Equipment from the no. 3 spot in 2014 to the no. 4 spot this year. Volvo’s sales increased in North America and Europe but declined in Asia, South America and elsewhere, resulting in an overall drop in revenues from US$8.1 billion in 2013 to US$7.8 billion in 20147.

5. Terex (U.S.) - 2014 rank #6

Terex wheel loader on Ritchie Bros. ramp
Terex is the only manufacturer in the top 5 whose revenues improved between 2013 and 2014, up 3% from US$7.1 billion to US$7.3 billion. Terex’s share of Top 50 revenues increased by 0.3% to 4.6% in 2014. Terex attributed this growth to improvements in its material handling and construction equipment divisions; cranes and aerial work platforms delivered disappointing results8.

Construction equipment outlook for 2015

Since the global economic downturn of 2008, the global construction equipment industry has been on a “rollercoaster ride,” commented Chris Sleight, editor of International Construction, introducing the 2015 Yellow Table rankings."
Stimulus spending and a boom in China fueled growth between 2009 and 2012. But since 2012 the construction industry has fallen into a downturn due to the sudden decline in China, subdued economic growth in other emerging economies, low commodity prices and a weak global mining industry9.
Mr. Sleight advised: “if the industry is to return to growth, the key ingredients would seem to be an improvement in emerging construction markets, and a rebound in commodity prices.”
Mr. Sleight appeared positive about the next few years for the construction industry: “My expectation is that global markets will improve this year, and in the subsequent years, and that life will become a little more conventional and predictable. But I don’t know what ‘normal’ will look like in the global equipment industry. Maybe there’s no such thing."9
International Construction Editor Chris Sleight gives an in depth analysis of the top 10 construction manufacturers on the 2015 Yellow Table in this video:

Looking for construction equipment to buy?

Search our current inventory for CaterpillarKomatsuHitachiVolvo, and Terex construction equipment being sold at Ritchie Bros. unreserved auctions, or visit Ritchie Bros. EquipmentOne, our secure online marketplace where you can place offers daily on construction equipment listed for sale.
Find this article interesting? Share this article with others
1. “Equipment top 50,” International Construction, April 2015, pp 13-16:
http://www.khl.com/magazines/international-construction/detail/item106684/VIDEO:The-2015-Yellow-Table
2. International Construction, April 2015, p16:
http://www.khl.com/magazines/international-construction
3. International Construction, April 2015, p16:
http://www.khl.com/magazines/international-construction
4. International Construction, April 2015, p6:
http://www.khl.com/magazines/international-construction
5. http://www.bloomberg.com/news/articles/2014-07-24/caterpillar-raises-forecast-quarterly-sales-disappoint
6. http://www.bloomberg.com/news/articles/2015-03-11/caterpillar-faces-aggressive-komatsu-fueled-by-yen
7. http://www3.volvo.com/investors/finrep/ar14/eng/constructionequipm/introduction.html
8. “Terex Announces Fourth Quarter and Full Year 2014 Results and Provides 2015 Outlook,“
http://www.terex.com/en/investor-relations/
9. International Construction, April 2015, p3:
http://www.khl.com/magazines/international-construction

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Top 5 construction equipment manufacturers in the world – 2014 edition | Ritchie Bros. Auctioneers

Top 5 construction equipment manufacturers in the world – 2014 edition | Ritchie Bros. Auctioneers:



Top 5 construction equipment manufacturers in the world – 2014 edition

  Industry Insights Comments
International Construction magazine’s annual Yellow Table ranking of the world’s top construction equipment manufacturers provides interesting insight into the ups and downs in the construction industry and the global economy.1 The biggest winner in the 2014 Yellow Table wasLiebherr, a Germany-based company that first experienced success with its mobile, easy-to-assemble and affordable tower cranes. Liebherr moved into the number 5 position on the survey after Sany, a Chinese multinational heavy machinery manufacturing company, dropped to the number 8 position.
Compared to 2012 revenues, the world’s top 50 construction equipment manufacturers experienced a 10% decrease, or a more than US$20 billion collective hit, to their combined revenues in 2013, according to the 2014 Yellow Table ranking survey.1
Despite the tough year, construction equipment manufacturer Caterpillar held fast to the coveted number one position in the 2014 Yellow Table, while Japanese-based Komatsu held steady at number two. The two manufacturing giants alone were responsible for approximately US$48 million of equipment sold worldwide in 2013, or 30% of market share.
Here’s a listing of the world’s top 5 construction equipment manufacturers in 2013 as reported in the 2014 Yellow Table ranking survey:

1. Caterpillar (U.S.) – 2013 rank: #1

Caterpillar ranks no. 1 in the 2014 Yellow Table ranking survey of top 5 construction equipment manufacturers
Even with an US$11 billion decrease in 2013 revenue, the well-known yellow giant still managed to hold on to the number one spot in the annual ranking survey. Heavily dependent on earthmoving equipment sales – specifically, excavators, loaders, bulldozers, crawler dozers, scrappers, and shovels - Caterpillar couldn’t avoid the impact of a softening mining sector. Orders for mining equipment decreased worldwide as commodity prices fell yet again in 2013 and mine owners switched their focus from building infrastructure and opening new mines to increasing production in order to make up for the shortfall.2 The only good news for US-based Caterpillar came from back at home, where North American sales of Caterpillar equipmentincreased slightly over the previous year.

2. Komatsu (Japan) – 2013 rank: #2

Komatsu ranks no. 2 in the 2014 Yellow Table ranking survey of top 5 construction equipment manufacturer
As economic growth stagnated in China, so did sales for Komatsu construction equipment in one of Komatsu’s biggest regional market. But a depreciating Yen helped Komatsu boost exports to other regional markets. Overall, Komatsu managed a slight +2.3% increase for the year, making it one of the year’s biggest winners.3

3. Volvo Construction Equipment (Sweden) – 2013 rank: #4

Volvo ranks #3 in the 2014 Yellow Table ranking survey of top 5 construction equipment manufacturer
In 2012, Volvo launched a two-year strategy aimed at “increasing the probability and market share of road equipment”.3 As part of this strategy, Volvo Construction Equipment purchasedTerex Corporation. The acquisition added five models of rigid haulers and three articulated haulers to Volvo’s line-up, giving the company a boost to the number 3 position and increasing its sales of equipment to the general construction, oil and gas, and road building sector.

4. Hitachi Construction Machinery (Japan) – 2013 rank: #3

Hitachi ranks no. 4 in the 2014 Yellow Table ranking survey of top 5 construction equipment manufacturer
As was the case with its fellow Japanese construction equipment manufacturer Komatsu,Hitachi’s construction equipment sales revenue also increased thanks in part to a fluctuating yen and an increase in exports. Another helpful boost came from a continued strong demand forHitachi hydraulic excavators in China and Japan during the third quarter of 2013.4 However,Hitachi’s position could prove precarious as a drop-off in domestic demand, a continuing economic slump in China and slow mining equipment sales threaten any potential gains in 2014.5

5. Liebherr (Germany) – 2013 rank: #7

Liehberr ranks no. 5 in the 2014 Yellow Table ranking survey of top 5 construction equipment manufacturer
Despite a slight fall in construction machinery revenue – specifically for earthmoving, mobile cranes and tower crane sales – Liebherr managed to move from the number 7 spot on the Yellow Table to number 5, ousting Sany who dropped to 8th place. For 2014, Liebherr plans to grow its 4.6% market share through investments in a new logistics center in Germany; an expansion of its Adelaide, Australia location; and the addition of a new hydraulic production plant for hydraulic excavators, wheel loaders and material handling equipment in Dalian, China.6

Construction equipment outlook for 2014

For 2014, it seems that the fight for market share among the top 5 construction equipment manufacturers may get even tougher. Chris Sleight, Editor of International Construction’s Yellow Table ranking survey, offered this advice to construction equipment manufacturers: “Clearly the global economy is not in a ‘normal’ phase, so I don’t think it is possible to say this is the situation we will be stuck with forever. At the same time, it will take time for a more robust and reliable cycle to reassert itself and there may be more bumps in the road ahead. So for equipment manufacturers, the key will be to stay flexible, and find ways to stay profitable in these uncertain times.”

Looking for construction equipment to buy?

If tough conditions in 2013 held you back from buying heavy equipment, view used Caterpillar,KomatsuVolvoHitachi and Liebherr construction equipment being sold at Ritchie Bros. auctions. Ritchie Bros. is the world’s largest industrial auctioneer, selling US$3.8 billion of equipment and trucks in 2013.
To make your equipment purchase more affordable, apply for up to 100% financing, with rates as low as 5.99% and no down payment.
Sources:
  1. http://www.khl.com/magazines/international-construction/detail/item96231
  2. http://www.ibtimes.com/caterpillar-cat-ends-awful-2013-11-billion-losses-amid-slowing-global-mining-sector-1521408
  3. http://www.komatsu.com/CompanyInfo/press/2014012915125103839.html
  4. http://www.hitachi.com/New/cnews/month/2014/05/140512/2013_An_00e_all.pdf
  5. http://asia.nikkei.com/Markets/Equities/Market-casts-cold-eye-on-Hitachi-Construction-Machinerys-bold-projections
  6. http://www.worldhighways.com/categories/auctions-equipment-supply-servicing-finance/news/liebherr-posts-healthy-results-for-2013/

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