The "2024 Global Construction Machinery Manufacturers Top 50 List" was officially announced not long ago, which not only reveals the latest pattern of the global construction machinery industry, but also highlights the strong momentum and prominent position of China's manufacturing industry in global competition. A total of 13 Chinese companies made the list, and 2 of them broke through the encirclement and advanced into the top 10. In the past few decades, China's construction machinery industry has gradually transformed from a catch-up role to a pioneer force in technological innovation and market leadership.
Construction machinery plays an irreplaceable role in many fields such as transportation construction, energy industry, raw material production, mining, agriculture, forestry and water conservancy. Whether it is the laying of highways, the opening of bridges and tunnels, or the construction of hydropower stations and the expansion of urban rail transit, behind every large-scale infrastructure project, there are construction machinery working silently.
The global construction machinery manufacturing industry is widely distributed, but the main leading enterprises are concentrated in Europe, America, Japan, South Korea and China, these countries and regions manufacturers with deep technology accumulation, broad market coverage, and strong innovation capabilities, long occupy the leading position in the global construction machinery industry.
TOP10 global construction machinery manufacturers in 2024
In tenth place is Doosan Bobcat, with annual sales of about 7.483 billion US dollars. Unique in the business areas of compact construction machinery, portable power supplies, various attachments and utility equipment; Jesse ranked ninth, with annual sales of about $8.082 billion. JCB is a large-scale global company with 22 factories, more than 2,000 sales outlets and more than 300 models of construction machinery, agricultural machinery, industrial equipment and horticultural equipment.
In eighth place is Hitachi Construction Machinery, with annual sales of about 9.105 billion US dollars. Affiliated to Hitachi Manufacturing Co., Ltd., it has developed and produced many first-class construction machinery with its rich experience and advanced technology; Volvo CE ranked seventh, with annual sales of about $9.892 billion. Headquartered in Gothenburg, the world's leading manufacturer of high-end construction equipment has production facilities around the world, including China, Sweden, France, Belgium, Germany, India and South Korea.
The sixth place is Sany Heavy Industry, with annual sales of about 10.224 billion US dollars. It is the world's leading construction machinery manufacturer, the world's largest concrete machinery manufacturer, and the world's leading excavator sales manufacturer; Liebherr ranks fifth, with annual sales of about $10.342 billion, and is also a well-known high-end refrigerator manufacturer in Europe.
The fourth place is XCMG, with annual sales of about 12.964 billion US dollars. It is the founder, pioneer and leader of China's construction machinery industry, and the company's business scope includes construction machinery, mining machinery, agricultural machinery and sanitation machinery. John Deere ranked third, with annual sales of about $14.795 billion. Its products include agricultural machinery, golf and sports field machinery, vehicle and multi-purpose machinery, and construction machinery.
Komatsu ranked second, with annual sales of about $25.302 billion. With a history of 100 years, it has been engaged in product innovation, development, manufacturing and sales activities based on construction machinery. The product range includes hydraulic excavators, wheel loaders, crawler bulldozers and off-highway mining dump trucks.
Caterpillar tops the list, with annual sales of about 41 billion US dollars (equivalent to about 297.9 billion yuan). It is one of the world's largest manufacturers of construction machinery and mining equipment, gas engines and industrial gas turbines, and one of the world's largest diesel engine manufacturers, with large, medium and small excavators and wheeled excavator product lines. Flexibly adapt to the needs of the market in various regions, and set up R&D centers and production bases in many countries and regions to implement product localization strategies to meet the special needs of different markets.
Today, China has become one of the world's largest construction machinery markets, not only the market is huge, but also the industrial chain is complete, and the innovation ability has been significantly enhanced. Some Chinese companies have been at the forefront of the world in specific market segments and technology fields, such as making breakthroughs in intelligent construction machinery, remote control technology, electrification equipment, etc., leading the direction of the future development of the industry.