Construction Machinery Manufacturing
Companies in this industry manufacture construction machinery, surface mining machinery, and logging equipment. Major companies include Caterpillar Inc and Terex (both based in the US), Atlas Copco (Sweden), Hyundai Doosan Infracore (South Korea), Hitachi Construction Machinery and Komatsu (both based in Japan), Liebherr Group (Germany), and Sany (China); along with the construction divisions of heavy equipment manufacturers CNH Industrial (UK), John Deere (US), and Volvo (Sweden).
The global construction machinery manufacturing industry is forecast to reach about $235 billion by 2030, according to Statista. India is expected to drive significant growth in the industry, along with China.
The US construction machinery manufacturing industry consists of about 750 establishments (single-location companies and units of multi-location companies) that have combined annual revenue of about $30 billion.
Competitive Landscape
Demand is highly dependent on construction spending. The profitability of individual companies depends on efficient manufacturing operations, since customers are very sensitive to price. Because of the large capital investment required to produce heavy construction machinery, this segment of the market is served mainly by the large manufacturers. Smaller companies can compete effectively by producing equipment that has specialized applications, or that is relatively simple to make. The US construction machinery manufacturing industry is highly concentrated: the top 50 companies generate about 85% of industry revenue.
US manufacturers compete with their counterparts around the world. Imports, largely from Japan, Mexico, Germany, and Canada account for 50% of the US market. Exports, primarily to Canada, Mexico, and Australia account for about 40% of US production.
Products, Operations & Technology
Major products are bulldozers, loaders, backhoes, power cranes, excavators, graders and rollers, crushers, mixers, pavers, concrete pumps, various types
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