When you think of the most recognized brand names in the heavy equipment industry, Caterpillar, Hitachi, and Komatsu may be at the top of the list. International Construction’s magazine- The Yellow Table- present how these multi-national, multi-billion dollar businesses measure up to one another in a highly competitive market.
These big brands have continued to make a steady profit in this not-so-profitable global economy. The 2013 Yellow Table publicized that sales of new construction equipment by the world’s 50 largest manufacturers improved by 2.6% in 2012, a record high of $182 billion. Two-thirds of that business is credited to the top 10 manufacturers.
“While there was some growth in the market last year, things were relatively subdued,” International Construction editor Chris Sleight said in a video preview of the 2013 Yellow Table. “The key factor that depressed growth last year was the weak market in China”.
Although Caterpillar and Komatsu hold the top positions in the industry, Chinese companies like Sany and Zoomlion are beginning to show signs as potential major manufacturers; Sany climbing into the top five in 2013. The KHL Group is now the leading supplier of international construction information in the world. According to KHL: “In 2003, the first year the yellow table was published, China’s manufacturers had a share of just 1.6%, worth just US$841 million. Today their 16% share is worth US$30.6 billion.”
Listed are the world’s top four heavy machinery manufacturers according to the 2013 Yellow Tale:
Ranked 1st– 2012- Caterpillar (U.S.)
Caterpillar, commands the global construction equipment sales revenue at 21.8% and has held the #1 spot on the Yellow Table since it was first published ten years ago. In 2012, Caterpillar reported revenues of $16.445 billion.
Ranked 2nd – 2012- Komatsu (Japan)
Komatsu reported net sales of ¥1.982 trillion in 2012 (approx. US$24,168 million).
Ranked 3rd– 2012- Volvo CE (Sweden)
Volvo CE (Construction Equipment), CE presented sales of SEK 63,558 million (approx. US$9.9 billion at current exchange rates) in 2012, selling more than 78,000 machines. The company is the world’s largest manufacturer of articulated haulers and wheel loaders.
Ranked 4th– 2012- Hitachi (Japan)
Hitachi, a multi-billion dollar company, began as a small electric motor repair shop in 1910. Today, Hitachi is the world’s third largest construction equipment manufacturer. The company presented data showing a 6% increase in net sales, finishing out the year with ¥817,143 million (approx. US$8.2 billion).
Ranked 5th– 2012- SANY (China)
The SANY Group, founded in 1989, employs 50,000 people in more than 150 countries. In 2011, they reported sales revenues of approximately $12.9 billion at current exchange rates.