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    Construction Machinery Manufacturing Industry Profile

    Report Page Length: 10-12
    Last Quarterly Update: 2/22/2021
    SIC Codes: 3531
    NAICS Codes: 33312
    Chapters Include:
    Industry Overview Trends & Challenges Industry Forecast
    Quarterly Industry Update Call Prep Questions Website & Media Links
    Business Challenges Financial Information Glossary & Acronyms
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    Excerpt from Construction Machinery Manufacturing Industry Profile

    Companies in this industry manufacture construction machinery, surface mining machinery, and logging equipment. Major companies include Caterpillar and Terex (both based in the US), Atlas Copco (Sweden), Doosan Infracore (South Korea), Hitachi and Komatsu (both based in Japan), Liebherr Group (Germany), and Sany (China), along with the construction divisions of heavy equipment manufacturers John Deere (US), CNH Industrial (UK), and Volvo (Sweden).

    The global construction machinery manufacturing industry is forecast to grow more than 6% per year through 2023, according to Technavio. Top countries for construction equipment manufacturing include China, Germany, Japan, Sweden, and the US.

    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 90% of industry revenue.

    US manufacturers compete with their counterparts around the world. Imports, largely from Japan, Mexico, Canada, and Germany account for about 60% of the ...

     
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