Famous Heavy Equipment Brands and their Market share

Equipment is another name of the machine which makes the man’s work easier and saves time. Any machine which possesses heavier weight is said to be heavy equipment. In this blog, we will discuss the heavy equipment brands that are used for construction purposes. With the invention of heavy machines, construction activities have become comfortable and time-saving. In the early centuries of life, construction activities like digging, building, and movement of heavy construction material from one place to another were considered to be hard-working tasks, but now with the help of heavy construction equipment, this can be done easily. There are many construction equipment like Motor Grader, Crawler Dozer, Trailers, Articulated truck, wheel excavators, track excavators, and many others. All these construction machines are used for different purposes, or in other words, every machine has different specifications. Just like machines, there are many suppliers and manufacturers of such heavy equipment which are demanded highly in the market. Some of the famous heavy equipment brands are CAT, KOMATSU, JOHN DEERE, and others. Machines purchased by them are much reliable as compared to other companies. To meet the demands of the market and make things easier and comfortable for the construction industry, the manufacturers of heavy equipment are developing and installing new technologies in the machines through which the machine’s productivity becomes more effective.

HEAVY EQUIPMENT BRANDS:

As we have discussed the names of some famous brands of heavy equipment in the beginning. Now we will discuss them in detail, which will make it easier and clear for us that on which we should rely when buying heavy equipment. The top 10 heavy equipment having the highest business share in 2017 are discussed below:

1. Caterpillar:

Caterpillar is the biggest construction equipment manufacturer and holds a strong share in the heavy equipment market. USA-based heavy machinery company firmly entrenched in the number one position and dominates the industry. According to a 2017 business report, CAT takes a massive share of the market that is 16.4% most by any construction equipment company. This construction equipment brand performs strongly in both the domestic market and overseas and has a good market share. Offering a broad selection of machines and making combination of innovation and continuous improvement has made CATERPILLAR a key partner in the heavy equipment manufacturing sector. The huge sale volume of heavy equipment from the platform of CATERPILLAR is one of the reasons for the USA’s improved economy.

2. Komatsu:

Komatsu is a Japan-based multinational heavy equipment company. It is considered the second most reliable source when buying heavy equipment after Caterpillar. Komatsu is not only a heavy equipment manufacturer, but it also deals in metal presses, machine tools, recycling, temperature control equipment, tunneling machinery, and related fields and holds a good name as a brand in these departments. According to business reports of 2017, Komatsu holds 11.9% of the market share, making a sales turn over up to 19,244 million USD, second highest after Caterpillar. The company is now focused on developing such equipment which can meet the standards of 21st century working and make more effective outcomes. KOMATSU is the second-highest manufacturer of construction equipment and mining equipment after CATERPILLAR, but in some areas (JAPAN, CHINA), Komatsu has a larger share than Caterpillar.

3. Hitachi Construction Machinery (Japan):

Hitachi is another Japan-based multinational company leading the heavy equipment industry. In 2017 this company’s share was 5.1% in the heavy equipment market has a sales figure of 8,301 million dollar USD. This company is serving in many multiple markets, and the heavy equipment market is one of them. The main focus or concentration of this company is to target the market of Asia and Africa, where the demand is relatively high, and they generate sales from these regions. Hitachi machinery is characterized by a host of green characteristics, which results in environmentally friendly working. Innovations such as battery-powered excavators and hydraulic systems, which are ultra-energy-efficient, ensure that Hitachi offers an optimal solution for a wide audience in the agriculture, engineering, energy, and construction sectors. 

4. Volvo Construction Equipment (Sweden):

Volvo is a prime international company that deals in the development, manufacturing, and marketing of equipment used for construction and industrial purposes. This company is one of the finest companies in the market. Volvo is considered the most dependable choice for many people. Volvo has made an improvement in the ranking and has moved to number 4 from 5 beating the German company Liebherr. The Sweden Company has made a business of 7,810 million USD making the fourth-highest share in the market up to 4.8%. IN the year 2016, Volvo was the world’s second-largest manufacturer of heavy-duty trucks.

5. Liebherr (Germany):

Liebherr is a German-Swiss multinational heavy equipment manufacturer situated in Switzerland and the primary production facilities in Germany. Hans Liebherr established this company in 1949 in Germany. In 2007 it was the world’s largest crane company. In the year 2017, the estimated sale of this company was 7,398 million USD having a market share of 4.6%. Unfortunately missing a number four spot and still manages to enjoy the largest turnover in history. Even though Liebherr loses the number four position, it continues to manufacture quality heavy equipment and maintain its brand’s trust and good name. Liebherr is a famous European heavy equipment manufacturing company that continues to perform strongly.

These companies are the top 5 heavy equipment manufacturing companies that are leading the market and maintaining a good brand name in customers’ eyes. There are other brands that have been working well in the market and have respected market shares. The rest of the brands are XCMG (China), Doosan Infracore (South Korea), Sany (China), John Deere (USA), JCB (UK). 

XCMG is a Chinese company having a market share of 4.3%, with sales of 6,984 million USD. In 2017, Doosan was the seventh heavy equipment company that had the highest market share. The market share of Doosan was 3.8%, with sales of 6232 million USD. Sany is another heavy equipment brand having a market share of 3.7%, just after Doosan. The company earned 6,232 million USD through sales. John Deere is a USA-based company that’s been around for more than 200 years, famous for making Quality agricultural equipment. The company has a market share of 3.5%, with sales of 5,718 million USD. Last but not least, JCB is a UK-based company with sales of 4,611 million US dollars with a market share of 2.8%. These stats and sales figures are from the report of 2017.

All these famous brands offer these heavy equipment for sale in the business market in great quality and an innovative function that helps the dealers to achieve their targets by working effectively that eventually increase the productivity.