Titans Clash and Market Landscape Unveiled - 2025 Global Top 50 Machinery Manufacturers and Market Insights
Titans of Construction: 2025 Global Top 50 Machinery Manufacturers and Market Insights
Construction machinery is a critical segment of the equipment manufacturing industry and plays a pivotal role in national development. It serves as an essential support for improving construction efficiency, shortening project timelines, reducing labor costs, and ensuring project quality. Construction machinery refers to the collective category of mechanical equipment used in earthwork construction, road construction and maintenance, mobile lifting and loading operations, hoisting and material handling, municipal and sanitation projects, and various other construction works, as well as mechanized production processes related to these projects. Globally, the terminology is largely consistent: in the United States and the United Kingdom, it is referred to as construction machinery and equipment, in Japan as construction machinery, in Germany as Baumaschinen und Geräte, and in China generally as engineering machinery.
According to the latest data, Bossonresearch compiled the 2024 global ranking of the top 50 OEM construction machinery manufacturers, with total sales reaching USD 237.62 billion, representing a 2.39% decrease from the previous fiscal year’s USD 243.40 billion. Overall, the global market shows a pattern of “domination by the U.S., Japan, and China, with Northern Europe and Germany/Korea forming a second tier, and other countries providing supplementary contributions.”
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The following are the top 50 global construction machinery manufacturers according to Bosson Research:
|
Rank |
Company Name |
Country |
Revenue (Million USD) |
Market Share (%) |
|
1 |
Caterpillar |
USA |
37,844 |
15.90% |
|
2 |
Komatsu |
Japan |
26,624 |
11.20% |
|
3 |
John Deere |
USA |
12,956 |
5.50% |
|
4 |
XCMG |
China |
12,769 |
5.40% |
|
5 |
Liebherr |
Germany |
12,420 |
5.20% |
|
6 |
Sany |
China |
10,834 |
4.60% |
|
7 |
Hitachi Construction Machinery |
Japan |
9,104 |
3.80% |
|
8 |
Volvo Construction Equipment |
Sweden |
8,353 |
3.50% |
|
9 |
JCB |
UK |
7,411 |
3.10% |
|
10 |
Sandvik Mining and Rock Technology |
Sweden |
6,974 |
2.90% |
|
11 |
Doosan Bobcat |
South Korea |
6,269 |
2.60% |
|
12 |
Epiroc |
Sweden |
6,011 |
2.50% |
|
13 |
Zoomlion |
China |
5,688 |
2.40% |
|
14 |
Metso Outotec |
Finland |
5,261 |
2.20% |
|
15 |
Oshkosh Access Equipment (JLG) |
USA |
5,160 |
2.20% |
|
16 |
Terex |
USA |
5,100 |
2.10% |
|
17 |
Kubota |
Japan |
4,275 |
1.80% |
|
18 |
Liugong |
China |
4,188 |
1.80% |
|
19 |
CNH Industrial |
Italy |
3,053 |
1.30% |
|
20 |
Kobelco Construction Machinery |
Japan |
3,033 |
1.30% |
|
21 |
HD Hyundai Infracore |
South Korea |
3,018 |
1.30% |
|
22 |
Manitou Group |
France |
2,874 |
1.20% |
|
23 |
Sumitomo Heavy Industries |
Japan |
2,590 |
1.10% |
|
24 |
Palfinger |
Austria |
2,552 |
1.10% |
|
25 |
HD Hyundai Construction Equipment |
South Korea |
2,522 |
1.10% |
|
26 |
Wacker Neuson |
Germany |
2,417 |
1.00% |
|
27 |
Fayat Group |
France |
2,380 |
1.00% |
|
28 |
Manitowoc |
USA |
2,178 |
0.90% |
|
29 |
Shantui |
China |
1,981 |
0.80% |
|
30 |
Tadano |
Japan |
1,923 |
0.80% |
|
31 |
LGMG |
China |
1,680 |
0.70% |
|
32 |
Hiab |
Finland |
1,633 |
0.70% |
|
33 |
Takeuchi |
Japan |
1,454 |
0.60% |
|
34 |
Lonking |
China |
1,423 |
0.60% |
|
35 |
Ammann |
Switzerland |
1,348 |
0.60% |
|
36 |
Astec Industries |
USA |
1,305 |
0.50% |
|
37 |
CRCHI |
China |
1,112 |
0.50% |
|
38 |
Dingli |
China |
1,086 |
0.50% |
|
39 |
Tonly |
China |
856 |
0.40% |
|
40 |
Skyjack |
Canada |
854 |
0.40% |
|
41 |
Sunward |
China |
850 |
0.40% |
|
42 |
Bauer |
Germany |
757 |
0.30% |
|
43 |
Hidromek |
Turkey |
744 |
0.30% |
|
44 |
Merlo |
Italy |
727 |
0.30% |
|
45 |
Lovol |
China |
706 |
0.30% |
|
46 |
Yanmar |
Japan |
693 |
0.30% |
|
47 |
Haulotte Group |
France |
686 |
0.30% |
|
48 |
Sennebogen |
Germany |
652 |
0.30% |
|
49 |
Sinoboom |
China |
649 |
0.30% |
|
50 |
Bell Equipment |
South Africa |
647 |
0.30% |
Source: KHL Group, compiled by Bossonresearch
Key Points and Facts:
(1) Industry Performance
Influenced by declining markets in Europe, Japan, and North America, the global construction machinery market is under short-term pressure. The total sales of the top 50 enterprises reached USD 237.62 billion, representing a 2.39% decrease from the previous fiscal year (USD 243.40 billion). The sector’s performance is closely linked to macroeconomic conditions and fixed-asset investments, particularly in metallurgy, wind power, and petrochemical sectors. Demand for equipment such as excavators mainly depends on downstream construction needs, including infrastructure development, real estate investment, and mining operations.
(2) Enterprise Distribution
In terms of top-ranking companies, China holds a leading position with 13 companies, followed by Japan with 8, the United States with 6, and Germany with 4. Other countries are represented more sparsely, showing a diverse global spread beyond the main markets.
(3) Revenue Scale and Market Share
The United States ranks first globally with total sales of USD 64.53 billion, accounting for 27.10% of the top 50 market share. Japan follows with USD 49.70 billion (20.90%), led by Komatsu, Hitachi Construction Machinery, and Kubota, with strong performance in excavators, hydraulic systems, and high-reliability equipment. China ranks third with USD 43.82 billion (18.70%), driven by fast-growing domestic enterprises such as XCMG, Sany, Zoomlion, and Liugong.
(4) Market Leaders
The global construction machinery market exhibits a clear gap-leader pattern, with Caterpillar and Komatsu far ahead of competitors. Caterpillar leads with USD 37.84 billion (15.9% market share), significantly exceeding third-place John Deere (USD 12.96 billion). Komatsu follows with USD 26.62 billion (11.2%), also well above other competitors.
(5) Corporate Dynamics and Market Trends
Komatsu, ranked second, achieved year-over-year growth in net sales and profits for construction, mining, and utility equipment in fiscal year 2024. Hitachi Construction Machinery and Volvo Construction Equipment swapped positions, with Volvo announcing a USD 261 million global expansion, including its Pennsylvania plant in the USA for medium and large crawler excavators and four new wheel loader models. JCB maintained ninth place and plans to expand its Texas facility to produce Loadall telescopic handlers and aerial work platforms for the North American market in response to tariff increases.
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