The Top 5 Heavy Equipment Manufacturers in the World
The construction industry continues to grow, thanks to production from some of the world’s largest manufacturers. In 2017, the top five heavy-equipment manufacturers made almost $70 billion U.S. in sales. Read on to learn more about these companies and what sets them apart from the rest of the competition.
Specializing in earthmoving equipment, Caterpillar is one of the most recognized names in the construction industry. In 2017, the U.S.-based company sold $26.6 billion of equipment, making it the top heavy equipment manufacturer in the world. Caterpillar focuses on loaders, excavators, bulldozers, and scrapers. It has about 400 products for purchase. It is the world’s largest producer of wheel loaders. Its eco-friendly machines have reduced emissions. You can find new or used parts and attachments easily, which helps with the upkeep of the equipment.
Caterpillar was created in 1925 when Holt Manufacturing Company merged with the C. L. Best Tractor Company. Benjamin Holt created a steam tractor that had planks around the wheels. The tractor’s continuous track made the machine look like a caterpillar. He liked the reference and kept the name. Today its more than 400 products feature the trademark yellow and CAT logo. The firm makes its equipment in 110 worldwide locations. It has more than 50 plants in the United States and 55 overseas.
Headquartered in Japan, Komatsu ranked second and sold $19.2 billion of equipment in 2017. In Japan and China, Komatsu has a larger share than Caterpillar. Komatsu focuses on construction, industrial, and mining equipment. Its products are reliable and made of high-quality materials.
Komatsu began as a subsidiary of Takeuchi Mining Industry. It split from the parent company in 1921 and called itself Komatsu Iron Works. Ten years later, the company produced the country’s first crawler-type tractor. Its North American operations began in 1970. It makes equipment at more than 150 worldwide spots. The firm earned its name from the city with the same name. It produced its first agricultural tractor prototype in 1931 and began making forklifts, wheel loaders, bulldozers, and excavators. As of 2018, the company made the largest bulldozer in the world, the D575.
Hitachi Construction Machinery Co., Ltd.
Hitachi Construction Machinery (HCM) ranked third and sold $8.3 billion of equipment in 2017. As part of the Hitachi Group, HCM began in 1970 when the parent company created its own machinery division.
Today the Japanese firm has more than 40 affiliated companies. The company builds mainly excavators, wheel loaders, cranes, and dump trucks. It previously sold bulldozers and crawler cranes. Clients include mining companies and construction workers. Its products provide a low cost of operation without losing efficiency. All of its parts receive proper testing and engineering to meet the company’s high standards.
Volvo Construction Equipment
A Swedish company, Volvo CE ranked fourth and sold $7.81 billion of equipment in 2017. The firm was founded in 1832 by Johan Theofron Munktell. The company made the country’s first tractor. One century later the company merged with Bolinder, which made steam engines.
In 2012, Volvo CE bought Terex Corporation. This purchase added eight types of haulers to Volvo’s lineup. It also helped to increase the firm’s sales of equipment to the areas of oil and gas, road building, and general construction. The well-known company produces wheel loaders, excavators, haulers, pavers, and loaders. These products are under three brands: SDLG, Terex, and Volvo. The company sells its products in more than 125 countries and focuses on environmentally friendly options. Most machines have Volvo engines, which increase fuel efficiency.
Based out of Switzerland, Liebherr is the largest crane manufacturer in the world. It also has the world’s most powerful and tallest crane tower as of 2018 with its LR 13000. Liebherr sold $7.4 billion of equipment in 2017. The company has more than 130 companies found in 10 divisions.
Hans Liebherr founded the company in 1949 when he developed the first mobile tower crane. The firm remains owned by the Liebherr family. It began building hydraulic excavators and moved onto aircraft parts. Today it produces cranes, excavators, wheel loaders, tractors, and telescopic handlers. In 2015, it produced the largest mobile harbor crane in the world with its LHM 800.
All five of these companies have set high standards when producing construction equipment. You don’t need to rush out and buy one of these expensive pieces of equipment, though. Reach out to BigRentz and rent equipment made by any one of these heavy-equipment manufacturers. That way you can see for yourself what sets these companies apart from the rest.