Top 10 Construction Machinery Manufacturers in world by KHL group in 2021
The latest Yellow Table, an annual ranking of the world’s top 50 construction equipment manufacturers by sales figures, has revealed that sales for 2020 declined by 5.5% to US$191.5 billion.
Although this is a decline, it is a much better figure than might have been expected given the Covid-19 pandemic and national lockdowns that were implemented in much of the world. It should also be noted that the 2019 table was a record-high and that, in a historical context, US$191.5 billion is a very strong figure.
The largest reason that this year’s figure for the table is not considerably lower is China. China was the only major construction equipment market to grow in 2020, with the government quick to put a stimulus plan in place as early as April, that drove an immediate surge in equipment sales. Accordingly, Chinese firms have placed very strongly in this year’s list.
Yellow Table 2021, from publisher KHL Group, ranks the world’s top 50 construction equipment manufacturers.
NO.1, Caterpillar retains its traditional position as the world’s biggest construction manufacturer with sales with sales of US$24.8 billion – approximately 13% of the total of the whole table. Last year’s table saw Cat’s sales equating to a 16% share of the whole table, which shows the firm’s slight relative decline in sales, but the US-based company is still comfortably out on top for overall sales.
NO.2 Komatsu remain at number two on the list, although the gap to the third placed company has narrowed considerably. Japan-based Komatu saw sales of US$19.9 billion, a drop from last year’s US$23.2 billion.
NO.3, In Chinese brands, XCMG breaks into the top three of the Yellow Table for the first time in the company’s history, a rise of one place from last year. XCMG had sales of US$15.1 billion.
NO.4, SANY climbs from Number 5 to number 4 was mainly attributed to the increase in sales revenue from $10.9 Billion in 2019 to $14.4 billion in 2020. A huge increase in the number of excavators sold throughout 2020 has been one of the major areas of growth for SANY.
NO.5, ZOOMLION, The first of the Chinese companies in the top ten, Zoomlion has climbed from number ten to number five with sales of US$9.4 billion. The company are the first a number of Chinese companies in the top ten, indicating how strongly the Chinese market performed in 2020.
Looking at the biggest challenges facing company executives and the equipment manufacturing industry as a whole in 2021, respondents indicated that the lingering COVID-19 pandemic and keeping employees safe and on the job remain the top concerns, followed by finding skilled workers for new jobs being created.
Turning to how the COVID-19 pandemic is changing the workplace, one in eight respondents said that it will have a lasting impact on how they work. Face-to-face meetings with colleagues and work travel are the top two activities they look forward to in 2021.
One in five (19%) said that sales are up while one in three (36%) indicated that sales are stable, citing the following reasons:
- 1.Strong pipeline of orders
- 2.Increase in customer demand
- 3.Robust economic rebound
- 4.Essential status of customers (including construction workers and farmers)
- 5.Level playing field due to no travel
Almost half of respondents (45%) said that sales are down as a result of the COVID-19 pandemic, citing the following reasons:
- 1.Supply chain disruptions
- 2.Reduced demand for new products
- 3.Limited international sales (due to travel restrictions)
- 4.Inability to meet with dealers and customers
- 5.Delayed or cancelled projects at the state and local levels
The biggest challenges for 2021 are (responses ranked):
- 1.COVID-19 pandemic and employee safety
- 2.Lack of talent/workforce challenges
- 3.Regulatory challenges
- 4.Tariffs and modifications to tax code
- 5.Internal reorganizations
- 6.Supply chain disruptions, price of inputs, reduced demand
