Gitnux/Report 2026

Heavy Equipment Manufacturing Industry Statistics

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Samuel NorbergWritten by Samuel Norberg·Fact-checked by Maya Johansson
Published
How this report is researched
01Editorial Scope

Gitnux editors write the brief first: the topic, the inclusion rules, and the frame for what belongs.

02Source Research

Agents search the published record and log every extracted figure back to the passage it came from.

Read our full methodology →

Search agents attach provenance to every extracted figure.

Next review: within 39 days

01 Industry overview

The heavy equipment manufacturing industry at a glance

The global heavy equipment market reached $201 billion in 2025 and is projected to grow at a 4.4% CAGR through 2035, led by Asia Pacific and major construction, mining, and infrastructure investment.

$201B[84]
Global market size, 2025
4.4%[84]
Forecast CAGR, 2026–2035
421,000[85]
U.S. direct jobs, 2025
12.5%[84]
Caterpillar market share, 2025
Market size
The global heavy equipment market was valued at $201 billion in 2025 and is expected to reach $211.1 billion in 2026. In the United States, the market generated $35.4 billion in 2025, while Asia Pacific generated $84.4 billion.[84]
Forecast & CAGR
The global market is projected to reach $309.6 billion by 2035, representing a 4.4% CAGR from 2026 to 2035. India is forecast to grow at 7.3% annually, while the Middle East and Africa are identified as the fastest-growing regional market.[84]
Market share & regions
Asia Pacific was the largest regional market in 2025, with $84.4 billion in revenue, ahead of North America at $42.0 billion and Europe at $36.2 billion. China accounted for $46.4 billion, or approximately half of Asia Pacific revenue projected for 2035.[84]
Segmentation
Construction was the largest end-use segment in 2025 at $90.4 billion, while mining represented 22.0% of market revenue. By power source, diesel equipment generated $171.9 billion, and by application, excavation and demolition accounted for 28.0% of revenue.[84]
Key players & concentration
The five largest companies collectively held 31.9% of global heavy equipment market revenue in 2025. Caterpillar led with 12.5%, followed by Komatsu at 6.5% and Sany Heavy Industry at 4.7%.[84]
Pricing
Pricing remained a material industry factor in 2025: Caterpillar reported $817 million in unfavorable price realization, while higher manufacturing costs reduced operating profit by $2.148 billion. Caterpillar’s total 2025 sales and revenues were $67.589 billion.[32]
Trends, drivers & challenges
Demand is supported by infrastructure, mining, renewable-energy construction, and data-center development, while electrification is expanding from a small base: electric equipment represented 3.0% of 2025 revenue and is forecast to grow at a 19.9% CAGR through 2035. Financing constraints, emissions compliance, tariffs, and higher manufacturing costs remain key challenges.[84][32]
Consumer behavior & competition
Rental and leasing accounted for 15.0% of global heavy equipment revenue in 2025 and is forecast to grow at a 5.7% CAGR through 2035, reflecting contractors’ preference for lower asset ownership risk. Indirect sales generated $100.5 billion in 2025, highlighting the importance of dealer networks, financing, parts, and maintenance support.[84]
M&A
Komatsu completed the acquisition of six Core Machinery dealership locations in Arizona and Southern California on June 9, 2025, expanding its company-owned mining equipment, parts, and service network. The transaction covered locations in Bakersfield, Mojave, Perris, Prescott, Phoenix, and Tucson.[23]
Regulation
In the United States, EPA standards apply to heavy equipment using both spark-ignition and compression-ignition engines. EPA’s Tier 4 nonroad diesel requirements use advanced emission-control technologies and require ultra-low-sulfur diesel fuel, with sulfur levels reduced by more than 99%.[86]
Latest news
In 2025, Caterpillar, BHP, and Rio Tinto began deploying Cat 793 XE battery-electric haul trucks in Australia to test electrified haulage under demanding mine conditions. The industry’s 2025 market also saw Raimondi Cranes agree to acquire Terex tower-crane, self-erecting-crane, rough-terrain-crane, and related U.S. after-sales operations.[84]
report visual · Projection

Construction machinery manufacturing shipments (United States)

Construction machinery manufacturing shipments grew from 30,656,754 thousands of U.S. dollars in 2020 to 43,969,879 thousands of U.S. dollars in 2024.

$30.7M
Start
+9.44%
CAGR · 4y
$44M
Projected
20202024
source-verifiedfred.stlouisfed.org2024

02 Ranking

Top 10 Companies in the Heavy Equipment Manufacturing Industry

The leading companies in the heavy equipment manufacturing industry, ranked on market impact, performance, momentum, innovation and brand popularity.

Updated November 10, 2026 · Next review December 10, 2026

Verdict

SANY Heavy Industry leads Gitnux's 2026 heavy equipment manufacturing ranking with an Overall score of 9.3, with $12.49 billion 2025 revenue across major heavy-equipment segments. Caterpillar is the runner-up at 9.1, with 2025 operating margin 16.5% in construction and mining equipment.

Ranked by Overall score · How we score ↓

Editor's top 3 picks

Where to start, by need.

  1. #1 Overall · Leader in construction & Mining Machinery

    SANY Heavy Industry

    CN

    Ranked #1 · 9.3 · Construction & Mining Machinery

    Why we picked it: Its excavators, cranes and concrete machinery scale is reflected in $12.49 billion 2025 revenue.

    See in ranking ↓Visit sanyglobal.com ↗

  2. #2 overall

    Caterpillar

    US

    Ranked #2 · 9.1 · Construction & Mining Machinery

    Why we picked it: Its construction and mining equipment portfolio is paired with a 16.5% 2025 operating margin.

    See in ranking ↓Visit caterpillar.com ↗

  3. #3 overall

    Komatsu

    JP

    Ranked #3 · 9.0 · Construction & Mining Machinery

    Why we picked it: Its construction, mining, utility and forestry machinery showed 6.2% 2025 revenue growth.

    See in ranking ↓Visit komatsu.jp ↗

Pick 1 is the #1 company overall. No other segment places in the top 5, so picks 2 and 3 follow rank.

Full ranking

Sort by
Top 10 companies in the heavy equipment manufacturing industry, 2026 – Gitnux ranking
#CompanyOverall ↓Company snapshot
1

SANY Heavy Industry

Construction & Mining Machinery · CN

9.3
2

Caterpillar

Construction & Mining Machinery · US

9.1
3

Komatsu

Construction & Mining Machinery · JP

9.0
4

XCMG Machinery

Construction & Mining Machinery · CN

9.0
5

Zoomlion Heavy Industry Science and Technology

Construction & Mining Machinery · CN

8.8
6

Volvo Group

Construction equipment and infrastructure machinery · SE

8.6
7

Liebherr

Cranes, earthmoving and mining equipment · CH

8.6
8

Terex

Aerial work platforms and specialized equipment · US

8.5
9

Kubota

Compact construction and agricultural equipment · JP

8.5
10

John Deere

Agricultural, construction and forestry equipment · US

8.3

How we score

  • Impact (30%): scale and weight in the market (revenue, market share, employees, market position).
  • Performance (20%): recent revenue growth and operating margin; an analyst assessment where a company does not publish them.
  • Momentum (20%): growth trajectory and future potential.
  • Innovation (15%): R&D intensity and how technologically advanced the company is.

Popularity (brand search demand, 15%) counts toward Overall but is not published as a column. Overall leaves out what is not known.

Scale Scores are shown on a 7–10 scale with one decimal; bars start at 7.0.

Cadence Recalculated when new figures are published; next review December 10, 2026.

Independence. Rankings are editorially independent. Scores, ranks, picks and the verdict follow the method above; no company can pay to change them.

Cite this ranking

APA

Samuel Norberg. (2026, November 10). Top 10 companies in the heavy equipment manufacturing industry. In Heavy Equipment Manufacturing Industry Statistics. Gitnux. https://gitnux.org/heavy-equipment-manufacturing-industry-statistics/#top-companies

04 Statistics

Technology & Innovation

Autonomy and connected-machine systems expand alongside AI adoption. Reported examples include 8.6 billion tonnes autonomously hauled by Caterpillar MineStar Command trucks by September 2024.

AI in the heavy equipment manufacturing industry

  • $5.46 billion is the expected 2028 value of the artificial-intelligence market serving industrial machinery, including intelligent hardware, software and services.[1]
  • 75% of advanced manufacturing companies identify adopting artificial intelligence as a top engineering and R&D priority, according to a 2024 machinery and equipment study.[1]
  • 4.5 million annual service interactions were handled by SANY Heavy Industry’s intelligent-agent platform in 2025.[2]
  • 78% of executives across industries rank scaling artificial intelligence and machine-learning use cases to generate value as a top priority in the 2024 machinery and equipment study.[1]

Automation in the heavy equipment manufacturing industry

  • 1,000 ultra-class autonomous haul trucks had been commissioned by Komatsu worldwide by April 2026.[3]
  • 754 autonomous-haulage-system units had been installed by Komatsu as of June 30, 2024.[3]
  • 8.6 billion tonnes of material had been autonomously hauled by Caterpillar MineStar Command trucks by September 2024, with no reported injuries from the system.[4]
  • 896 autonomous-haulage-system units had been introduced at 25 mines in five countries by June 30, 2025.[3]
  • 7.5 billion metric tons of material had been hauled by Komatsu autonomous-haulage trucks by the end of February 2024.[3]
  • 700-plus autonomous Komatsu haul trucks were operating across 23 mine sites in five countries by February 2024.[3]

Digital Transformation in the industrial manufacturing sector (sector benchmark)

  • 32% of U.S. industrial-products respondents said their operations-technology investments had delivered expected results in 2024.[5]
  • 34% of industrial-manufacturing organizations across 26 countries had achieved return on investment from multiple AI use cases in 2024.[6]
  • 76% of industrial-manufacturing firms across 26 countries reported that their workforce had an appetite to embrace cutting-edge technology in 2024.[6]
  • 24% of companies across the European Industrial Ecosystem had a concrete digital-transformation strategy in 2024.[7]

Technology Adoption in the industrial manufacturing sector (sector benchmark)

  • 31% of industrial-manufacturing organizations were proactive in advancing modern-delivery technologies, including low-code and no-code, in 2024.[8]
  • 30% of industrial-manufacturing organizations were proactive in advancing edge-computing strategies in 2024.[8]
  • 35% of industrial-manufacturing organizations were proactive in advancing data-and-analytics strategies in 2024.[8]
  • 37% of industrial-manufacturing organizations were proactive in advancing AI and automation strategies in 2024.[8]

Cloud Computing in the industrial manufacturing sector (sector benchmark)

  • 39% of industrial-manufacturing organizations were proactive in advancing XaaS technologies, including public and multicloud, in 2024.[8]
  • 87% of Australian manufacturing enterprises used cloud computing in 2022.[9]
  • 87% of Finnish manufacturing enterprises used cloud computing in 2023.[9]
  • 54% of EU manufacturing enterprises used paid cloud-computing services in 2025, up from approximately 45% in 2023.[10]

Big Data in the industrial manufacturing sector (sector benchmark)

  • 16.2% of businesses in the European Industrial Ecosystem used big-data technologies in 2024.[7]
  • 57% of manufacturers used some form of artificial intelligence to analyze collected manufacturing data in 2024.[11]
  • 60% of manufacturers surveyed could collect and normalize data from assets or equipment in 2024, across 461 decision makers in the United States, Germany and Malaysia.[12]
  • 28% of manufacturing survey respondents were implementing big-data processing in 2024.[13]
  • 33% of manufacturers surveyed were performing prescriptive analytics in 2024, according to ABI Research’s survey of 461 manufacturing decision makers.[12]
  • 67% of manufacturers surveyed in the United States, Germany and Malaysia could collect and analyze data in near real time in 2024.[12]

Blockchain in the heavy equipment manufacturing industry

  • 24% of industrial-manufacturing CEOs were planning, piloting or implementing blockchain technology in the cited PwC survey.[5]
  • 62% of industrial-manufacturing survey respondents had a blockchain project underway in the cited PwC survey.[5]

05 Statistics

Data & Analytics

Service revenue targets tie to connected assets and digital platforms, with Caterpillar citing $24 billion in 2026 services revenue targets.

Business intelligence in the heavy equipment manufacturing industry

  • $24 billion was Caterpillar’s services revenue by 2025 after deploying its Helios digital platform.[14]
  • $23 billion was Caterpillar’s services revenue in 2023, supported partly by connected-equipment data and digital tools.[15]
  • $28 billion was Caterpillar’s 2026 target for services revenue.[15]
  • 1.4 million connected Caterpillar assets were reported worldwide in 2022.[15]
  • 1.5 million connected Caterpillar assets worldwide supplied data for advanced analytics and AI in 2023.[15]
  • $14 billion was Caterpillar’s 2016 services-revenue baseline in its digital-data transformation plan.[14]

Data analytics in the heavy equipment manufacturing industry

  • 6.6% of construction-equipment fleets used third-party data-management services that alerted them when maintenance was due in 2024.[16]
  • 64.1% of construction-equipment fleets managed machine data and maintenance in-house in 2024.[16]
  • 2009 was the launch year for Komatsu’s Komtrax industrial-machinery system, which collects operating-hour and alert data.[17]
  • 22.2% of construction-equipment fleets reported that dealers managed their fleet data in 2024.[16]
  • 2020 was the year Komatsu released its upgraded AI predictive-maintenance system after customer-site trials.[17]
  • 2024 was the fiscal year when Komatsu established a global working team to coordinate generative-AI initiatives.[17]

Data Quality in the industrial manufacturing sector (sector benchmark)

  • 44% of manufacturers surveyed reported that AI projects had failed because of poor data quality in 2025.[18]
  • 61% of manufacturing leaders agreed that poor data quality limited adoption and optimization of emerging technologies in 2025.[19]
  • 41% of manufacturers surveyed distrusted the data used for supply-chain operations in 2025.[18]
  • 51% of manufacturers surveyed said their data was siloed across disparate tools and systems in 2025.[18]
  • 30% of manufacturers identified poor data quality as a technical barrier to improving processes in 2025.[19]
  • 54% of manufacturers surveyed had duplicate data in several systems in 2025.[18]

Data Governance in the industrial manufacturing sector (sector benchmark)

  • 15% of manufacturers surveyed said their data strategy was entirely aligned with their overall business strategy in 2024.[11]
  • 61% of manufacturers surveyed had a corporate-wide governance plan, strategy or formal data-management guidelines in 2024.[11]
  • 22% of manufacturers surveyed included data collection, management or analysis in executive incentives, KPIs or business imperatives in 2024.[11]
  • 58% of manufacturers surveyed assigned primary data-governance responsibility to a C-suite or senior leader in 2024.[11]

KPIs in the heavy equipment manufacturing industry

  • 42% of construction-equipment fleet respondents rated primary-dealer service and support excellent or very good in 2024.[16]
  • 9.4% of construction-equipment fleet respondents rated primary-dealer service and support fair or poor in 2024.[16]
  • 42.7% of construction-equipment fleets were rated excellent or very good in 2024.[16]
  • 45.1% of construction-equipment fleets were rated excellent or very good in 2023.[16]
  • 28 billion dollars was Caterpillar’s 2026 target for services revenue.[15]
  • 15% of construction-equipment fleets did not use machine information to manage maintenance in 2024.[16]

06 Statistics

Strategy & Growth

Manufacturers use fleet scale, dealer coverage, and targeted acquisitions to widen execution. Volvo Construction Equipment reported SEK 81.641 billion net sales in 2025.

Growth in the heavy equipment manufacturing industry

  • SEK 81.641 billion was Volvo Construction Equipment’s reported net sales in 2025 worldwide.[20]
  • EUR 2.2188 billion was Wacker Neuson Group revenue in 2025 worldwide.[21]
  • EUR 2.404 billion was Zeppelin’s Construction Industry and Mining sales in 2025 across 16 countries.[22]
  • 22% was Volvo Construction Equipment’s increase in adjusted net order intake in 2025 after excluding SDLG worldwide.[20]
  • 4% was Volvo Construction Equipment’s 2025 net-sales growth after adjusting for currency and the SDLG divestment worldwide.[20]
  • 1% was Volvo Construction Equipment’s reported increase in net order intake in 2025 worldwide.[20]

Differentiation in the heavy equipment manufacturing industry

  • 64,000-plus employees supported Komatsu’s equipment and technology business in 150 countries in 2025.[23]
  • 10,638 employees worked in Volvo Construction Equipment in 2025 worldwide.[20]
  • 6 countries hosted Komatsu autonomous haulage deployments by September 2025.[3]
  • 26 mine sites used Komatsu autonomous haulage units by September 2025 across six countries.[3]
  • More than 200 machine types were offered by Zeppelin’s Construction Industry and Mining business in 2025 across 16 countries.[22]
  • 82% of Volvo Construction Equipment’s 2025 revenue came from machines worldwide.[20]

Mergers and acquisitions in the heavy equipment manufacturing industry

  • 1 strategic acquisition of Core Machinery expanded Komatsu-owned mining dealership coverage across Arizona and Southern California in 2025.[23]
  • 12 acquisitions were completed or announced by Atlas Copco across industrial components from July 2024 through early 2025.[24]
  • 64 employees were reported for Osa Demolition Equipment when Sandvik acquired it in 2025 in Italy.[25]
  • $2.0 million was CamTech Engineering Services’ 2024 annual revenue before Sandvik’s 2025 acquisition in the United States.[25]
  • 3 employees were reported for CamTech Engineering Services when Sandvik acquired it in 2025 in the United States.[25]
  • 6 dealership locations were acquired by Komatsu from Core Machinery in Arizona and California in 2025.[23]

Strategic partnerships in the heavy equipment manufacturing industry

  • 1 partnership was launched by Nevada Gold Mines and Komatsu in 2025 for autonomous haulage at a Nevada mine in the United States.[26]
  • 1 strategic partnership was formed by UMW and Komatsu in 2026 to establish a Malaysian heavy-equipment joint venture.[27]
  • 50:50 is the ownership structure of Kawasaki’s 2024 precision-machinery joint venture with Yantai Eddie in China.[28]
  • 1 joint venture was established by Kawasaki Heavy Industries and Yantai Eddie Precision Machinery in 2024 in Suzhou, China.[28]
  • 70% of CNH’s Construction Equipment business is to be sold to Kobelco Construction Machinery under the 2026 joint-venture agreement.[29]
  • 1 joint venture was agreed by CNH and Kobelco in 2026 to combine construction-equipment portfolios, dealer networks and digital-excavator technology.[30]

07 Statistics

People & Workforce

Workforce and training patterns show how operational execution supports technology deployment. Caterpillar reported 51,500 employees located in the United States at year-end 2024.

Hiring in the heavy equipment manufacturing industry

  • 52,856 Volvo Group employees were located in Europe at year-end 2024.[20]
  • 51,500 Caterpillar full-time employees were located in the United States at year-end 2024.[31]
  • 94,007 Volvo Group employees were counted globally at year-end 2024.[20]
  • 52,000 Caterpillar employees were located in North America at year-end 2024.[31]
  • 25,300 Caterpillar employees were located in Asia-Pacific at year-end 2024.[31]

Employee retention in the heavy equipment manufacturing industry

  • 50,800 Caterpillar full-time employees were located inside the United States at year-end 2023.[31]
  • 112,900 Caterpillar full-time employees were recorded at year-end 2024.[31]
  • 12.7% was Terex’s rolling 12-month voluntary turnover rate at March 31, 2024.[32]
  • 113,200 Caterpillar full-time employees were recorded at year-end 2023.[31]
  • 6.9% was AGCO’s voluntary employee turnover rate in 2024.[33]

Remote Work in the industrial manufacturing sector (sector benchmark)

  • Across U.S. manufacturing, 35.2% of surveyed workers reported remote work in the Chicago Fed Survey of Economic Conditions from July 2021 through March 2024.[34]
  • Across U.S. manufacturing, 19% of workers worked remotely, including hybrid and fully remote arrangements, during October 2023–September 2024.[35]
  • Across U.S. manufacturing, teleworked hours represented 12.2% of total hours worked in 2025.[36]
  • Across U.S. manufacturing, 36.9% of workers could work at home and 33.3% actually did so during 2024–2025.[36]

Hybrid Work in the industrial manufacturing sector (sector benchmark)

  • Across manufacturing employers, 80% said their organizations were still struggling to balance hybrid working in 2025.[37]
  • Across manufacturing employers, 67% identified productivity as a key factor driving pressure to return to the office in 2025.[37]
  • Across manufacturing companies, the average required office attendance reached 2.82 days per week in the second quarter of 2025.[38]
  • Across manufacturing companies, 17% were fully back in the office for non-production employees in 2025.[38]
  • Across manufacturing companies, 79% operated a hybrid model for non-production employees in 2025.[38]

Upskilling in the heavy equipment manufacturing industry

  • 310 global AGCO people managers participated in the company’s LEAP leadership-training program in 2024.[39]
  • Approximately 80% of Hitachi Construction Machinery’s learning activities were delivered through e-learning in FY2025.[40]
  • Three Volvo Construction Equipment factories—in Sweden, Korea and Brazil—provided workforce training support for the Shippensburg operation in 2026.[20]
  • JPY 280 million was the annual productivity impact attributed to Hitachi Construction Machinery’s expanded learning and improvement activities.[40]
  • 17.12 average training hours were recorded for male AGCO employees in the leadership category in 2024.[39]

Employee Engagement in the industrial manufacturing sector (sector benchmark)

  • Across manufacturing, distribution and storage organizations, the average employee-engagement score was 72.9% in 2026.[41]
  • Across manufacturing companies, 48% of respondents said most frontline workers were engaged in their jobs in 2023.[5]
  • Across manufacturing companies, 25% of respondents did not know whether their frontline workforce was engaged in 2023.[5]
  • Across manufacturing companies, 70% of respondents said most non-frontline employees were engaged in their jobs in 2023.[5]
  • Across manufacturing companies, 41% identified employee recognition as a high priority in 2024.[42]

DEI in the heavy equipment manufacturing industry

  • 27% of Caterpillar’s U.S. management and professional workforce identified as racially or ethnically diverse in 2024.[31]

08 Statistics

Customer & Sales

Dealer programs and retention efforts shape purchase cycles and parts pull-through. Equipment-dealer customers retained by ongoing survey programs reached 64.1%.

Customer experience in the heavy equipment manufacturing industry

  • 3 additional digital customer-experience use cases were planned on average by surveyed companies within one to three years.[43]
  • 37% of customer-experience leaders in a study of more than 100 companies believed their organizations had the data architecture needed for data-driven experiences.[43]
  • 98% of more than 800 surveyed manufacturers had started their digital-transformation journey in 2023.[43]
  • 86% of surveyed industrial manufacturing and construction executives wanted an improved digital interface from their B2B suppliers in 2024.[43]
  • 81% of surveyed industrial manufacturing and construction companies planned to invest in at least one additional digital customer-experience use case within one to three years.[43]

Customer retention in the heavy equipment manufacturing industry

  • 2.9 times more equipment was purchased by dealer customers in their third year than in their second year.[44]
  • 9.1 times more rentals were purchased by dealer customers in their third year than in their second year.[44]
  • 64.1% of equipment-dealer customers were retained by dealers with an ongoing survey program, compared with 53.5% without one.[44]
  • 50% of field-service leaders identified customer retention and growth as a critical 2025 priority.[45]
  • 5.6 times more parts were purchased by dealer customers in their third year than in their second year.[44]

Customer acquisition in the heavy equipment manufacturing industry

  • 23% of equipment-dealer transactions came from customers acquired within the past year.[44]
  • 14% of contractors cited their relationship with dealers as a reason for choosing a heavy-equipment brand.[46]
  • 19.8% of construction-sector top-of-funnel conversions came from email marketing in a 2024 cold-outreach study.[47]
  • 17.4% of construction-sector top-of-funnel conversions came from paid lead sites in a 2024 cold-outreach study.[47]
  • 51% of equipment-dealer customers were new within the past year in Winsby’s dealer analysis.[44]

Customer loyalty in the heavy equipment manufacturing industry

  • 62.5% of surveyed agricultural-equipment dealers reported declining brand loyalty in 2017, a related equipment-market indicator.[48]
  • 17% of contractors cited loyalty to the brand they typically buy when selecting pickups in the same survey.[46]
  • 77 was the overall net promoter score reported for equipment dealers in SATISFYD’s 2026 benchmark, down from 80.[48]
  • 13% of contractors cited loyalty to the brand they typically buy when selecting heavy equipment.[46]
  • 14.5% of surveyed agricultural-equipment dealers reported increased brand loyalty in 2017, a related equipment-market indicator.[48]

Lead generation in the heavy equipment manufacturing industry

  • 50% or more was the mid-funnel conversion rate for inbound leads generated through construction-sector email marketing.[47]
  • 3 to 9 months was the typical time from a first positive prospect response to contract signing in the construction-sector study.[47]
  • More than 50% of construction-sector conversions came from pay-per-click leads in the 2024 cold-outreach study.[47]
  • 98% of construction-sector leads required phone contact to complete conversions in the 2024 study.[47]

09 Statistics

Marketing & Brand

Buyer-facing digital signals are tracked through audience behavior and channel mix. One construction-equipment audience measure showed 1.93% identifying construction equipment manufacturers as their primary business activity in Jan–Jun 2025.

Marketing in the heavy equipment manufacturing industry

  • 1.93% of the Construction Equipment audience identified manufacturers of construction equipment as their primary business activity during January–June 2025, United States.[49]
  • 92% of the Construction Equipment audience held management or higher-level positions during January–June 2025, United States.[49]
  • 74% of equipment dealers rated manufacturer marketing and advertising support as very or fairly important in 2024, North America.[50]
  • 4.6% was the average share of sales recorded through foreign selling agents among surveyed manufacturers in 2015, United States.[51]
  • 2.47% of the Construction Equipment audience identified themselves as construction-equipment distributors or dealers during January–June 2025, United States.[49]

Digital marketing in the heavy equipment manufacturing industry

  • 65% of equipment manufacturers used video marketing in the 2021 digital-marketing survey.[52]
  • 6% of equipment manufacturers used mobile marketing in the 2021 digital-marketing survey.[52]
  • 28% of equipment manufacturers used marketing automation in the 2021 digital-marketing survey.[52]
  • 77% of equipment manufacturers used content marketing in the 2021 digital-marketing survey.[52]
  • 46% of equipment manufacturers used paid-search advertising in the 2021 digital-marketing survey.[52]

Branding in the heavy equipment manufacturing industry

  • 68% of construction-equipment owners had not strayed from their primary brands despite supply-chain constraints in 2022.[53]
  • 39% of surveyed construction-equipment fleets included Komatsu in 2022.[53]
  • 9.4% was Sakai’s average construction-equipment brand premium in the auction channel in the EquipmentWatch analysis.[54]
  • 54% of surveyed construction-equipment fleets included Deere in 2022.[53]
  • 77.2% of German respondents with at least some interest in construction machines spontaneously recognized CAT in a 2018 survey.[55]

Social media in the heavy equipment manufacturing industry

  • 35% of equipment manufacturers had no Instagram posts or account in the digital state-of-the-industry study, United States.[56]
  • 4.46% was the engagement rate achieved by the DEVELON dealer organic-social program described in the case study.[57]
  • 3.12% was the average share of employees sharing content in the machinery sector across all regions in September 2026.[58]
  • 40% of equipment manufacturers had no Twitter posts or account in the digital state-of-the-industry study, United States.[56]
  • 28% of equipment manufacturers posted on Facebook 16–30 times per month in the digital state-of-the-industry study, United States.[56]

Influencer Marketing in the industrial manufacturing sector (sector benchmark)

  • Across B2B companies, 29% of marketers planned to adopt influencer marketing within the following year in 2025; global survey scope.[59]
  • Across B2B companies, 76% of marketing leaders said creator collaboration helps build brand authenticity in 2025; global survey scope.[59]
  • Across B2B companies, 43% of marketers planned to increase influencer investment in the following year in 2025; global survey scope.[59]
  • Across B2B companies, 28% ranked thought leaders or industry analysts as the most effective influencer type in 2025; global survey scope.[59]
  • Among manufacturing marketers using paid channels, 19% used influencer marketing in the 12 months covered by the 2025 outlook survey; global manufacturing, survey conducted June–August 2024.[60]

10 Statistics

Operations & Execution

Production systems and quality controls translate into measurable reliability and cost outcomes. Warranty accruals were $6.51 billion in 2024 across the 55 largest global heavy-equipment manufacturers.

Process optimization in the heavy equipment manufacturing industry

  • 6 core principles and 19 modules form HD Hyundai Construction Equipment’s production system for standardized and optimized production flows.[61]
  • ¥132.6 billion was invested in Komatsu’s manufacturing capital as of June 30, 2025.[3]
  • 30% higher productivity was reported at Komatsu Forest’s new Swedish plant after adopting automated assembly technology compared with older plants.[3]
  • 14 XCMG subsidiaries implemented the company’s collaborative product-development system in 2025.[62]
  • 1,414 Smart Construction consultants were deployed by Komatsu on an aggregate basis as of June 30, 2025.[3]

Operational efficiency in the heavy equipment manufacturing industry

  • 12.5% was Volvo Group’s adjusted operating margin in 2024 despite lower market volumes.[20]
  • SEK 65.7 billion was Volvo Group’s adjusted operating income in 2024.[20]
  • 51,634 construction-equipment units were delivered by Volvo Group in 2025.[20]
  • 17 countries across 5 continents contained Volvo Group manufacturing and assembly plants in 2024.[20]
  • 4% of Volvo Group’s total product life-cycle greenhouse-gas emissions came from its supply chain in its latest inventory.[20]

Quality management in the heavy equipment manufacturing industry

  • $6.51 billion in warranty accruals were recorded by the 55 largest global heavy-equipment manufacturers in 2024.[63]
  • $6.15 billion in warranty claims were paid by the 55 largest global heavy-equipment manufacturers in 2024.[63]
  • 824 million dollars in warranty claims were paid by Caterpillar in 2024.[63]
  • 4.5% lower quality-failure costs were achieved by HD Hyundai Construction Equipment in 2024.[61]
  • 10% was HD Hyundai Construction Equipment’s additional year-on-year quality-failure-cost reduction target for 2025.[61]

Supply chain in the heavy equipment manufacturing industry

  • 5,746 suppliers were reported by John Deere for 2023.[64]
  • 4,147 suppliers were reported by John Deere for 2022.[64]
  • Approximately 12,000 suppliers supported Volvo Group serial production in 2024.[20]
  • 4% of Volvo Group’s total product life-cycle greenhouse-gas emissions came from the supply chain in its latest inventory.[20]
  • 1,468 supplier-compliance audits were conducted by John Deere in 2023.[64]

Outsourcing / Offshoring in the industrial manufacturing sector (sector benchmark)

  • Across global manufacturing, 56% of executives in 2025 said their organization had invested in nearshoring or a combination of reshoring and nearshoring.[65]
  • Across global manufacturing, 73% of executives in 2025 believed friendshoring would represent a significant share of future sourcing and production.[65]
  • Across global manufacturing, 37% of facilities were offshore in 2024, compared with 41% onshore and 22% nearshore.[65]
  • Across EU enterprises sourcing abroad during 2021–2023, 39% outsourced business functions to external providers, while 72% used affiliated enterprises abroad for insourcing.[10]
  • Across EU enterprises engaged in international sourcing during 2021–2023, 37% operated in manufacturing, the largest sector share among sourcing enterprises.[10]

11 Statistics

Finance & Pricing

Pricing effects show up in margins and realized pricing, while services and parts support cash generation. Caterpillar reported $817 million in unfavorable price realization in 2025.

Pricing strategy in the heavy equipment manufacturing industry

  • 8% growth in CNH Construction net sales in the third quarter of 2025 reflected higher North American and EMEA shipments plus favorable net price realization.[66]
  • 3 percentage points was the decline in Manitou Products’ margin on cost of sales in the first half of 2025, partly because competitive pressure prevented preservation of prior pricing levels.[67]
  • SEK 81.641 billion was Volvo Construction Equipment’s 2025 net sales, with machine and service sales each increasing 4% after currency and SDLG adjustments.[20]
  • ~6,000 sales and service locations form CNH’s global dealer network, supporting regional commercial execution and customer-specific pricing for agriculture and construction equipment.[66]
  • €0.75 per share was Manitou Group’s proposed 2025 dividend, reflecting its capital-return policy after a year of weaker pricing and profitability.[67]

Cost reduction in the heavy equipment manufacturing industry

  • €64 million was Manitou’s 2025 reduction in fixed production costs compared with 2024, from €291 million to €286 million.[67]
  • €49 million was Manitou Group’s 2025 research and development expense, up from €44 million in 2024 despite operating-cost pressure.[67]
  • $6.985 billion was Caterpillar’s 2025 selling, general and administrative expense, compared with $6.667 billion in 2024.[32]
  • €17 million of Manitou Group’s 2025 operating result consisted of non-recurring expenses and income, compared with €4 million in 2024.[67]
  • 3% to 5% is CNH’s projected 2025 decline in Construction segment net sales, with cost reductions intended to mitigate lower production and sales levels.[66]

Profitability in the heavy equipment manufacturing industry

  • 16.5% was Caterpillar’s 2025 operating profit margin, down from 20.2% in 2024.[32]
  • 13.3% was Volvo Construction Equipment’s 2025 adjusted operating margin, compared with 14.4% in 2024.[20]
  • €143 million was Manitou Group’s 2025 recurring operating profit, compared with €199 million in 2024.[67]
  • €68 million was Manitou Group’s 2025 net income attributable to the parent company, compared with €122 million in 2024.[67]
  • 4.9% was Manitou Group’s 2025 operating margin after non-recurring items, compared with 7.9% in 2024.[67]

Financial planning in the heavy equipment manufacturing industry

  • €212 million was Manitou Group’s net debt at the end of 2025, down 42.7% from 2024.[67]
  • $1 billion is the enterprise value assigned to CNH’s Construction Equipment business in its November 2026 transaction agreement with Kobelco Construction Machinery.[29]
  • $5.2 billion was Caterpillar’s 2025 share repurchase expenditure.[68]
  • $200 million to $500 million was CNH’s 2025 projected free cash flow range for Industrial Activities.[66]
  • 21.8% was Manitou Group’s 2025 gearing ratio, with leverage reported at 1.0.[67]

12 Statistics

Product & Service

Aftermarket penetration and connected services reinforce recurring revenue streams. Caterpillar reported $24 billion in services revenue in 2024.

Product development in the heavy equipment manufacturing industry

  • Volvo Construction Equipment reported its biggest launch year ever for new products and services in 2024 globally.[20]
  • 11% of Epiroc’s workforce consisted of research-and-development engineers in 2025 globally.[69]
  • Approximately 770,000 Komatsu units were equipped with Komtrax by June 30, 2024 worldwide.[3]
  • $2.1 billion was invested in research and development by Caterpillar in 2024 globally.[31]
  • SEK 12.7 billion was Volvo Construction Equipment’s adjusted operating income in 2024 globally.[20]

Product lifecycle in the heavy equipment manufacturing industry

  • 38% of Epiroc’s equipment fleet in operation was older than 10 years at year-end 2025 worldwide.[69]
  • 34% was Komatsu’s aftermarket ratio for construction equipment in fiscal 2022 globally.[3]
  • 37% was Komatsu’s aftermarket ratio for construction equipment in fiscal 2023 globally.[3]
  • Approximately 580,000 Komatsu construction-equipment units formed the estimated machine population sold during the preceding 10 years in 2024 worldwide.[3]
  • 41% was Komatsu’s aftermarket ratio for construction equipment in fiscal 2019 globally.[3]

After-sales in the heavy equipment manufacturing industry

  • 66% of Epiroc’s revenue came from aftermarket activities in 2025 globally.[69]
  • 68% was Komatsu’s aftermarket ratio for mining equipment in fiscal 2022 globally.[3]
  • 152 Caterpillar dealers served approximately 190 countries at year-end 2024.[31]
  • 50% was Komatsu’s aftermarket ratio for construction, mining and utility equipment in fiscal 2018 globally.[3]
  • $24 billion was Caterpillar’s services revenue in 2024 globally, including aftermarket parts and other service-related revenue.[31]

Value proposition in the heavy equipment manufacturing industry

  • Approximately 2,700 suppliers supported Komatsu’s operations in 2024 worldwide.[3]
  • 53% of Caterpillar’s sales and revenues came from outside the United States in 2024.[31]
  • SEK 88.305 billion was Volvo Construction Equipment’s net sales in 2024 globally.[20]
  • 14,193 employees worked in Volvo Construction Equipment in 2024 worldwide.[20]
  • 4 million or more Caterpillar products were at work around the world at year-end 2024.[31]

13 Statistics

Sustainability & Ethics

Emissions and incident metrics track operational constraints, including engineering cost pressure tied to compliance needs. Caterpillar reported 34% lower operational Scope 1 and 2 greenhouse-gas emissions in 2024 versus its 2018 baseline.

Sustainability in the heavy equipment manufacturing industry

  • 72% lower water consumption was reported by Komatsu in fiscal 2024 compared with fiscal 2010 globally.[3]
  • 31.5% of Caterpillar’s energy consumption came from renewable sources in 2024 globally.[70]
  • 55% lower production CO2 emissions were reported by Komatsu in fiscal 2024 compared with fiscal 2010 globally.[3]
  • 34% lower operational Scope 1 and 2 greenhouse-gas emissions were reported by Caterpillar in 2024 versus its 2018 baseline globally.[31]
  • 100% of Caterpillar’s products launched in 2024 met at least one sustainability criterion compared with the prior generation.[71]

ESG in the heavy equipment manufacturing industry

  • 12% of Terex’s energy came from renewable sources in fiscal 2024.[72]
  • 92% was Komatsu’s fiscal 2024 multi-sourcing ratio for supply-chain business-continuity measures.[3]
  • 14.9% of Komatsu’s consolidated full-time employees were women as of March 31, 2025.[3]
  • 11.9% of Komatsu’s consolidated managers were women as of March 31, 2025.[3]
  • 1.49 was Terex’s total recordable incident rate for fiscal 2024.[72]

Ethics in the heavy equipment manufacturing industry

  • 0.96 was Komatsu’s fiscal 2024 lost-work-time accident frequency rate per one million hours.[3]
  • 71 was Komatsu Japan’s employee-engagement survey score in fiscal 2025.[3]
  • 18 materialities were identified by Komatsu across employees, human rights, customers, ethics and governance, communities, and environment.[3]
  • 81 was Komatsu’s global employee-engagement survey score in fiscal 2025.[3]
  • 3 ethics-and-governance challenges were identified by Komatsu: privacy and cybersecurity, governance aligned with business changes, and compliance.[3]

CSR in the heavy equipment manufacturing industry

  • ¥1.3 billion was Komatsu’s combined fiscal 2023–2024 support for the Noto Peninsula earthquake, including donations and free equipment loans.[3]
  • 100 years of company operations were marked by Komatsu’s One World One Komatsu employee SDG initiative in 2021.[3]
  • 5,655 suppliers were included in John Deere’s 2024 supply-chain sustainability metrics.[64]
  • 34 employees received Komatsu practical artificial-intelligence training over the reported three-year period.[3]
  • 22,074 employees received Komatsu digital-transformation entry-level training over the reported three-year period.[3]

Circular economy in the heavy equipment manufacturing industry

  • 100 equipment units per year is the rebuilding capacity of HD Hyundai Construction Equipment’s India rebuilding center.[61]
  • 23,700 tonnes of CO2 emissions were estimated by Komatsu to have been avoided in fiscal 2025 through component reuse instead of producing new components.[73]
  • 66 regenerated equipment units were sold by HD Hyundai Construction Equipment in India in 2024.[61]
  • 3.2% of the HX85A crawler excavator’s analyzed weight was classified as non-recyclable by HD Hyundai Construction Equipment.[61]
  • 80% recycled content was used in aluminum alloys redesigned with a key Trane Technologies supplier in 2025.[74]

Carbon footprint in the heavy equipment manufacturing industry

  • 759 million metric tons was Caterpillar’s 2023 Scope 3 use-of-sold-products emissions estimate.[31]
  • 48 million metric tons of Caterpillar’s 2024 Scope 3 use-of-sold-products emissions came from Resource Industries products.[31]
  • 606 million metric tons was Caterpillar’s 2022 Scope 3 use-of-sold-products emissions estimate.[31]
  • 18.7 metric tons of Scope 3 use-of-sold-products emissions per $1,000 of Caterpillar sales was reported for 2018.[31]
  • 10.5 metric tons of Scope 3 use-of-sold-products emissions per $1,000 of Caterpillar sales was reported for 2024.[31]

15 Statistics

Globalization & Expansion

Global footprints are operationalized through suppliers, plants, and dealer ecosystems. Asia-Pacific dominance is reflected in the market’s $84.4 billion revenue in 2025, ahead of North America at $42.0 billion.

Globalization in the heavy equipment manufacturing industry

  • ¥3,787.5 billion was Komatsu’s construction, mining and utility equipment sales to outside customers in fiscal 2024 across global regions.[3]
  • Volvo Group operated manufacturing and assembly plants in 17 countries on five continents in 2024, including facilities supporting construction equipment.[20]
  • Construction equipment exports represented about 68.4% of Japan’s ¥3,456.1 billion total construction-equipment shipments in 2024.[80]
  • Volvo Group had around 60 larger manufacturing plants worldwide in 2024, across operations that include construction equipment.[20]
  • LiuGong served customers in more than 180 countries with over 500 dealers in 2025.[81]

Cultural adaptation in the heavy equipment manufacturing industry

  • 6,784 overseas employees supported XCMG’s localized international operations as of April 30, 2025.[82]
  • 17 domestic R&D centers formed the domestic portion of XCMG’s 21-center global R&D network in 2025.[82]
  • SANY’s products covered more than 150 countries and regions by the end of its 2026 reporting period.[17]
  • Wacker Neuson tailored its Value Line equipment range to local needs in emerging markets across Asia, Latin America and Africa in 2024.[17]
  • SANY used five overseas R&D bases in Germany, the United States, Japan, India and Indonesia to address regional market requirements in 2026.[17]

Supplier management in the heavy equipment manufacturing industry

  • Komatsu had approximately 2,700 suppliers supporting its global construction, mining and utility equipment business in fiscal 2025.[3]
  • Approximately 4% of Volvo Group’s total product life-cycle greenhouse-gas emissions came from its supply chain in 2024.[20]
  • Komatsu’s manufacturing operations spanned plants in 11 named countries, including Japan, the United States, Brazil, India and China, in fiscal 2025.[3]
  • Volvo Group’s industrial footprint included around 60 larger manufacturing plants that relied on component and logistics suppliers in 2024.[20]
  • 5 material categories were identified by Volvo Group as priority areas for supplier-related emissions reduction in 2024.[20]

Stakeholder management in the heavy equipment manufacturing industry

  • Volvo Group had around 60 larger manufacturing plants worldwide in 2024, alongside logistics, distribution and R&D sites.[20]
  • Komatsu’s global employee-engagement score was 81 in fiscal 2025, compared with 71 in Japan.[3]
  • 22,266 Komatsu employees participated in digital-transformation training in fiscal 2025.[3]
  • Volvo Group’s product-use phase accounted for more than 95% of product life-cycle greenhouse-gas emissions in 2024, focusing stakeholder attention on customer operations.[20]
  • Komatsu’s aftermarket sales were 23% higher than fiscal 2021 at constant exchange rates in fiscal 2025.[3]

Distribution channels in the heavy equipment manufacturing industry

  • CNH Construction sold and distributed equipment through approximately 427 full-line dealers and distributors at December 31, 2024.[83]
  • 89.4% of Komatsu’s consolidated net sales were generated outside Japan in fiscal 2025, primarily through sales subsidiaries and distributors.[3]
  • CNH Agriculture had more than 2,500 dealer owners and over 6,000 locations or points of sale at December 31, 2024.[83]
  • Komatsu had 208 sales and service distributors in 151 countries in fiscal 2025.[3]
  • LiuGong maintained more than 30 regional parts centers in 2025 to support its international dealer channel.[81]

Key questions about the heavy equipment manufacturing industry

How large is the global heavy equipment market in 2025?
The global heavy equipment market reached $201 billion in 2025.
What growth rate does the market use in forecasts through 2035?
The market is projected to grow at a 4.4% CAGR through 2035, with growth led by Asia Pacific and major construction, mining, and infrastructure investment.
Which companies lead the heavy equipment manufacturing industry?
SANY Heavy Industry leads Gitnux's 2026 heavy equipment manufacturing ranking with an Overall score of 9.3, with $12.49 billion 2025 revenue across major heavy-equipment segments. Caterpillar is the runner-up at 9.1, with 2025 operating margin 16.5% in construction and mining equipment.
Where is technology shifting in heavy equipment manufacturing?
Electrification is expanding from a small base, with electric equipment at 3.0% of 2025 revenue and forecast to grow at a 19.9% CAGR through 2035.
How big is the indirect sales channel for heavy equipment in 2025?
Indirect sales generated $100.5 billion in 2025, reflecting the role of dealer networks, financing, parts, and maintenance support.
Reference

Cite This Report

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APA
Samuel Norberg. (2026, November 10). Heavy Equipment Manufacturing Industry Statistics. Gitnux. https://gitnux.org/heavy-equipment-manufacturing-industry-statistics
MLA
Samuel Norberg. "Heavy Equipment Manufacturing Industry Statistics." Gitnux, 10 Nov 2026, https://gitnux.org/heavy-equipment-manufacturing-industry-statistics.
Chicago
Samuel Norberg. 2026. "Heavy Equipment Manufacturing Industry Statistics." Gitnux. https://gitnux.org/heavy-equipment-manufacturing-industry-statistics.

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