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  • Writer's pictureExcavatorr Team

Exploring the Top 10 Construction Equipment Suppliers

Updated: Apr 23

2 excavators working in the mountains graphic
Top 10 Excavator Suppliers

The construction equipment market is a colossal industry that cannot be overlooked, with its current valuation standing impressively at approximately $186.56 billion. This market isn't just large; it's also growing at an accelerated pace, with projections indicating that it's expected to rise significantly to a staggering over $300 billion by the year 2032.

This phenomenal growth can be largely attributed to the contributions made by various reputable suppliers and manufacturers in the field.

These entities have continued to innovate and push the boundaries of what's possible in the construction sector, providing state-of-the-art equipment that can meet the ever-evolving needs of construction projects around the globe.

With their relentless pursuit of progress and improvement, these suppliers and manufacturers have become the primary drivers of this robust market growth.

Why Good Equipment Suppliers Are Crucial

Contractors in various industries tend to have a list of preferred suppliers that they rely on for their operations. These suppliers are often selected based on a range of factors such as their proven reliability, their ability to provide excellent service, and their deep connection with the brand.

The process of choosing these suppliers is not a task that is taken lightly. In fact, it is a critical aspect of the business operations. These decisions about which equipment suppliers to work with can have a significant impact on a contractor's operating costs.

Therefore, it is essential to carefully consider and evaluate each potential supplier to ensure that they can meet the needs of the contractor and contribute positively to the business's bottom line.

In-Depth Insights into Leading Construction Equipment Suppliers

Here's a closer look at some of the industry's top players, including detailed information about each company and their reported revenues:

Caterpillar Excavator Logo

1. Caterpillar (CAT): As the world's largest supplier in the construction and mining equipment industry, Caterpillar has established a substantial global presence with over 500 locations spread across various continents. Since its founding in the year 1925, it has been at the forefront of innovation and manufacturing in the field. Despite the challenges of the global market, Caterpillar managed to generate impressive revenues of $59 billion in the year 2022, reflecting its robust business model and strong market position.

  • Headquarters: Peoria, Illinois, USA

  • Founder: Benjamin Holt and C.L. Best

  • Founded: 15 April 1925, California, USA

  • Subsidiaries: Perkins Engines, Caterpillar Financial Services Corporation

  • Number of employees: Approximately 102,300

John Deere Logo

2. John Deere: Established as a leading name in the domain of machinery, John Deere is recognized primarily for its state-of-the-art agricultural machinery that has transformed the farming industry. However, the scope of John Deere's machinery manufacturing is not limited to agricultural equipment. They also have a significant presence in the construction industry, producing top-tier construction equipment that is robust and efficient. In terms of financial performance, John Deere has demonstrated substantial growth. In the fiscal year of 2022, the company reported impressive revenues amounting to $52.58 billion, showcasing their significant contribution to the machinery industry.

  • Headquarters: Moline, Illinois, USA

  • Founder: John Deere

  • Founded: 1837, Grand Detour, Illinois, USA

  • Subsidiaries: John Deere Financial, John Deere Landscapes

  • Number of employees: Approximately 74,500

Komatsu Logo

3. Komatsu: Established in 1921, Komatsu is not only Japan's largest construction equipment manufacturer but also a globally recognized titan in the industry. Serving an extensive range of countries around the globe, it has left its footprint on numerous large-scale projects that have changed the face of landscapes both natural and man-made. Its reach and influence are reflected in its formidable revenue figures. In 2022 alone, the company boasted a staggering revenue of $24.91 billion, a testament to its success and standing within the construction and manufacturing sector.

  • Headquarters: Tokyo, Japan

  • Founder: Meitaro Takeuchi

  • Founded: 13 May 1921, Japan

  • Subsidiaries: Komatsu America Corp., Komatsu Mining Corp.

  • Number of employees: Approximately 61,765

Liebherr Logo

4. Liebherr: Founded in 1949 by Hans Liebherr, Liebherr is a renowned company that specializes in the production of various types of equipment. Its broad spectrum of products includes construction machinery, mining equipment, and material handling equipment. Over the years, Liebherr has developed a strong reputation for its high-quality, reliable, and durable equipment that has become integral in numerous industries worldwide. In the fiscal year 2022, the company achieved significant financial success, reporting impressive revenues of $13.9 billion, reflecting the high demand for its top-notch equipment and its strong position in the global market.

  • Headquarters: Bulle, Canton of Fribourg, Switzerland

  • Founder: Hans Liebherr

  • Founded: 1949, Kirchdorf an der Iller, Germany

  • Subsidiaries: Liebherr-International AG, Liebherr Aerospace

  • Number of employees: Approximately 48,000


5. XCMG: Headquartered in the People's Republic of China, XCMG has firmly established itself as a leading manufacturer in the heavy machinery industry. With an impressive global presence that extends over multiple continents, the company has consistently demonstrated its ability to compete in the international market. In the fiscal year of 2022, XCMG reported robust revenues, which exceeded the $13 billion mark, indicative of its strong performance and sustained growth.

  • Headquarters: Xuzhou, Jiangsu, China

  • Founder: Government-owned corporation

  • Founded: 1943, Xuzhou, China

  • Subsidiaries: XCMG Construction Machinery Co., Ltd.

  • Number of employees: Approximately 20,000

Develon Logo

6. Develon: This company, known until the year 2023 as Doosan, has a long and storied history that stretches back to 1937. Over this extended period, it has established itself as a major player in the industry. Develon is renowned for its robust range of construction machinery, a factor that has played a significant role in its enduring success. The company's product range is not only wide but also highly regarded for its quality and reliability. The strong performance of its construction machinery line-up has been a driving force behind the company's positive financial results. In the fiscal year of 2022, Develon reported impressive revenue figures, totalling $13.12 billion. This financial success is a testament to the company's strategic business planning and its commitment to delivering high-quality products to its customers.

  • Headquarters: Seoul, South Korea

  • Founder: Park Seung-jik

  • Founded: 1937, South Korea (as Doosan)

  • Subsidiaries: Bobcat Company, Doosan Bobcat Inc.

  • Number of employees: Approximately 40,000


7. SANY: Since its establishment in 1989, SANY has grown remarkably to become a leading name in the global construction equipment industry. Over the span of three decades, the company has managed to expand its operations worldwide and establish a strong foothold in the market. In the year 2022, SANY reported impressive revenues of $11.96 billion, continuing its upward trajectory and underlining its commitment to quality and innovation.

  • Headquarters: Changsha, Hunan, China

  • Founder: Liang Wengen

  • Founded: 1989, Hunan, China

  • Subsidiaries: SANY America Inc., Putzmeister

  • Number of employees: Approximately 90,300

Volvo Construction Equipment Logo

8. Volvo Construction Equipment: Renowned globally for the superior reliability of its machinery, Volvo Construction Equipment (Volvo CE) has made its mark in the heavy equipment industry. In the fiscal year of 2022, it reported an impressive revenue of approximately $11 billion. This significant financial performance underscores the company's commitment to quality and its success in meeting the diverse needs of construction projects worldwide.

  • Headquarters: Gothenburg, Sweden

  • Founder: SKF

  • Founded: 1832 (as Munktells), Eskilstuna, Sweden

  • Subsidiaries: Terex Trucks, Volvo CE Rents

  • Number of employees: Approximately 14,000

Sandvik Logo

9. Sandvik: A globally recognized leader in the field of drilling and mining equipment, Sandvik has a rich and extensive history that spans over a century, having been founded in the year 1862. The company plays a crucial role in the development of infrastructure, with a particular emphasis on rural areas where such development is often most needed. Sandvik's product range and services have proven to be instrumental in various large-scale construction and mining projects worldwide. In the fiscal year of 2022, the company demonstrated robust financial performance, reporting revenue figures to the tune of $10.81 billion.

  • Headquarters: Stockholm, Sweden

  • Founder: Göran Fredrik Göransson

  • Founded: 1862, Sandviken, Sweden

  • Subsidiaries: Sandvik Mining and Rock Technology, Walter AG

  • Number of employees: Approximately 42,000

Hitachi Construction Machinery Logo

10. Hitachi Construction Machinery: Serving as a prominent subsidiary of the internationally recognized Hitachi Group, Hitachi Construction Machinery has made a name for itself in the global market with its extensive range of high-quality construction and mining equipment. The company's diverse product line is designed to meet a wide array of needs, making it a trusted partner for businesses in the construction and mining industries. The company's financial success is indicative of its industry dominance, with revenues in the fiscal year of 2022 approaching a staggering $9 billion.

  • Headquarters: Tokyo, Japan

  • Founder: Namihei Odaira

  • Founded: 1970 (as a division of Hitachi), Tokyo, Japan

  • Subsidiaries: Hitachi Construction Machinery (Europe), TCM Corporation

  • Number of employees: Approximately 25,100

Choosing the Right Equipment Supplier

Selecting the right supplier involves considering various factors including parts availability, service quality, and technology. Customer reviews and firsthand experience through equipment rentals can offer deep insights into each brand's performance and reliability.

Why Choose Excavatorr for Your Equipment Rentals

Excavatorr, a comprehensive platform, is exclusively designed for contractors from various fields. It offers an in-depth insight into a multitude of top manufacturers from around the globe. This valuable resource enables contractors to delve into the details of various types of machinery and brands.

It provides a detailed analysis of each, allowing them to thoroughly assess and compare the specifications, capabilities, and performance of different machinery.

This vital information aids in ensuring that they select the most suitable equipment tailored to their specific project requirements. Not only does this enhance the efficiency of their work, but it also optimizes the overall output.

Furthermore, Excavatorr eliminates the daunting task of scouring through numerous sources, as it conveniently brings all the necessary information under one roof.

Thus, it empowers contractors to make informed decisions, thereby ensuring that they find the best fit for their projects, aligned with their budget and time constraints.

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