Monday, July 15, 2024

Top 10 Construction OEMs: A Closer Look at the Who’s Who

Latest Edition of the Yellow Table: Record-breaking Figures for 2023 and Top 10 Construction Equipment Manufacturers

The construction equipment industry has witnessed a historic year in 2023, with record-breaking sales figures reported in the most recent edition of the Yellow Table by International Construction. Total sales reached an impressive US$243.4 billion, the highest amount ever recorded in the history of the ranking.

A notable factor contributing to this milestone is the performance of US-based manufacturers, which collectively accounted for 28.6% of the Yellow Table’s total revenue, showcasing the strength of the American market. Despite challenges faced by Chinese manufacturers, the overall revenue figure underscores the robust nature of the global construction equipment market.

In the ranking of the top 10 construction equipment manufacturers, some notable movements and achievements were observed. Doosan Bobcat from South Korea secured the tenth position, while JCB from the United Kingdom climbed one spot to ninth place, reflecting strong sales in India and investments in North America.

Furthermore, Hitachi from Japan maintained its eighth position, emphasizing collaboration with industry technology leaders at events like Intermat. Volvo Construction Equipment from Sweden dropped to seventh place, highlighting its focus on electric construction equipment and sustainability efforts.

Sany from China slipped to sixth place, closely behind Liebherr from Germany, which achieved its highest historical ranking due to a record revenue year across various product segments. XCMG from China maintained strong sales in fourth place, with a focus on international markets.

In the top three positions, John Deere from the US continued its ascent in the rankings, Komatsu from Japan retained its second-place position with increased sales, and Caterpillar from the US maintained its traditional spot as the top construction equipment manufacturer with sales totaling US$41 billion.

Overall, the Yellow Table ranking for 2023 provides a comprehensive overview of the global construction equipment market, showcasing the success and growth of leading manufacturers. For more detailed analysis and access to the complete Yellow Table, readers can refer to the latest issue of International Construction magazine.

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