Top 10 Construction Machinery Manufacturers in the World

The heavy machinery industry is a critical sector that drives the backbone of many construction, mining, and infrastructure projects around the world. Whether it’s excavating massive volumes of earth, lifting tons of materials, or drilling deep into the earth’s crust, these tasks require robust, efficient, and durable machinery. Below is a rundown of the top 10 heavy machinery manufacturers worldwide, ranked in descending order, who are leaders in innovation, reliability, and performance.

10. Kobelco Construction Machinery Co., Ltd. (Japan)

Kobelco Construction Machinery is a division of Kobe Steel Ltd., a company with a history dating back to 1905. Founded in 1930, it specializes in the manufacture of hydraulic excavators and crawler cranes, with a strong focus on innovation and environmental responsibility.

Kobelco is recognized for its advanced hydraulic systems and engine efficiency technologies. Their machines are designed to be powerful yet fuel-efficient, with a reduced environmental impact. The company’s SK3500D demolition machine holds the Guinness World Record for the highest reach, capable of reaching 65 meters. Kobelco has a strong global presence, with machinery operating in over 150 countries, including six in the GCC and Middle East. Here, Al Marwan Machinery is the go-to authorized dealer for Kobelco, offering everything from excavators to crawler cranes. Plus, they have state-of-the-art workshops where they custom-build long booms that reach up to 26 meters.

Revenue (2022): $753.83 Million

9. JCB (UK)

JCB, or Jisung is a British multinational corporation founded in 1945. Headquartered in Rocester, Staffordshire, JCB is one of the world's top manufacturers of construction equipment. The company is best known for its backhoe loaders and telescopic handlers, but it also produces a wide range of other machinery, including excavators, skid steers, and wheel loaders.

With over 750,000 units produced of backhoe loaders, it is the world’s largest producer of this machinery type. JCB’s commitment to innovation is reflected in its development of the world’s first hydrogen-powered excavator, a significant step towards reducing carbon emissions in the construction industry.

Revenue (2022): $6.9 billion

8. Hitachi Construction Machinery Co., Ltd. (Japan)

Hitachi Construction Machinery is a subsidiary of the Japanese electronics giant Hitachi Ltd., founded in 1970. The company specializes in the production of hydraulic excavators, wheel loaders, rigid dump trucks, and other construction and mining machinery. The company’s ultra-large mining excavators, like the EX8000-7, are among the largest in the world, with an operating weight of 840 tons.

Hitachi’s machines are known for their advanced hydraulics, reliability, and performance in tough working environments. The company has made significant strides in integrating ICT (Information and Communication Technology) into their equipment, offering customers enhanced machine management and operational efficiency. 

Revenue (2023): $9.86 billion

7. Sany Group (China)

Sany Group is a Chinese multinational heavy machinery manufacturer founded in 1989. Headquartered in Changsha, Sany is the largest heavy equipment manufacturer in China and ranks among the top manufacturers globally. Sany’s product line includes a wide range of construction and mining machinery, such as excavators, cranes, concrete machinery, and road machinery. The company’s commitment to research and development is evident in its 7,000+ R&D personnel, making it a leader in innovation and technological advancement.

Revenue (2023): $10.4 billion

6. Volvo Construction Equipment (Sweden)

Volvo Construction Equipment (Volvo CE), part of the Swedish Volvo Group, is one of the world’s leading manufacturers of construction equipment. With a history dating back to 1832, Volvo CE has built a reputation for producing machinery that is durable, efficient, and environmentally friendly.

Volvo CE offers a wide range of products, including excavators, articulated dump trucks, wheel loaders, and compactors. The company is a pioneer in the development of fuel-efficient and low-emission machinery. Volvo’s focus on sustainability is reflected in their continuous innovation, having sold more than 5,000 electric trucks in 40 countries by 2023. The company’s focus on sustainability is further highlighted by its commitment to becoming a net-zero emissions company by 2040.

Revenue (2023): $10.03 billion

5. Sandvik AB (Sweden)

Sandvik is a Swedish multinational engineering company founded in 1862 and headquartered in Stockholm. While Sandvik is involved in various industries, it is particularly known for its mining and rock excavation equipment. The company’s products include drilling rigs, crushers, loaders, and other machinery essential for mining operations.

Sandvik’s automated and digital solutions, such as the AutoMine® and OptiMine® systems, have been installed in over 60 mines worldwide, enhancing safety and productivity through automation and data analytics.

Revenue (2023): $12 billion

4. Xuzhou Construction Machinery Group (XCMG, China)

XCMG is a state-owned company and one of China’s largest construction machinery manufacturers. Founded in 1943, XCMG has rapidly grown to become a major global player. The company is particularly strong in the manufacturing of cranes, excavators, and road machinery. XCMG is particularly strong in the crane market, where it ranks as the world’s largest producer. The company’s 700-ton all-terrain crane, launched in 2019, is a testament to its engineering prowess, and XCMG’s equipment is used in over 183 countries.

Their equipment is used in various high-profile projects worldwide, from constructing skyscrapers to developing infrastructure in emerging economies. XCMG's ability to produce a wide range of equipment at competitive prices has made it a favorite in many developing markets. 

Revenue (2023): $12.9 billion

3. Liebherr Group (Germany)

Liebherr Group is a family-owned company founded in 1949 and headquartered in Bulle, Switzerland. However, the company’s roots are in Germany, and it remains one of Europe’s largest machinery manufacturers generated approximately $15 billion revenue in 2023. Liebherr’s product range is diverse, covering everything from construction machinery, mining equipment, and mobile cranes to maritime cranes, aerospace systems, and refrigeration appliances.

Liebherr is particularly well-known for its cranes and earthmoving equipment. The company’s commitment to precision engineering and quality has made it a leader in the high-end segment of the market. Liebherr’s machinery is widely regarded for its robustness, reliability, and cutting-edge technology.

Revenue (2023): $15.2 billion

2. Komatsu Ltd. (Japan)

Komatsu Ltd. is another major player in the heavy machinery market. Founded in 1921 and headquartered in Tokyo, Japan, Komatsu is the second-largest manufacturer of construction and mining equipment after Caterpillar, with a total revenue of $26.2 billion generated in 2023. Komatsu's product range is extensive, offering everything from hydraulic excavators and bulldozers to dump trucks and motor graders.

Komatsu is renowned for its innovation, particularly in the area of intelligent machine control. Their machinery often incorporates advanced technologies, such as GPS systems and automated functions, to increase efficiency and reduce operator fatigue. Komatsu’s commitment to sustainability is also evident, with many of their machines designed to minimize environmental impact.

Revenue (2023): $26.2 billion

1. Caterpillar Inc. (USA)

Caterpillar Inc., headquartered in Illinois, USA, is the world’s largest manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. Known worldwide as "CAT," this company has been a dominant player in the industry since its inception in 1925. The company’s product range includes over 300 different machines, and it operates in more than 190 countries, covering everything from bulldozers, excavators, and backhoe loaders to more specialized machinery like off-highway trucks and wheel loaders.

Caterpillar’s reputation for durability and innovation is unmatched, making it the go-to choice for heavy-duty tasks in the harshest conditions. Their ongoing investment in technology, leading in the autonomous machinery sector, with more than 500 autonomous trucks in operation across the globe.

Revenue (2023): $67.06 billion