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In 2005, the annual revenue of the world's 50 largest construction machinery equipment manufacturers totaled 98.8 billion U.S. dollars, an increase of 14.4 percent from the 86.3 billion U.S. dollars in 2004. In 2006, “International Construction†magazine compiled the list of the world’s top 50 engineering machinery manufacturers for the fourth time. During this period, the sales of top 50 manufacturers achieved continuous growth, with a total of 55.5 billion US dollars in 2003 (based on 2002’s On the basis of sales, a total increase of 78% in 4 years. Readers of "International Construction" may recall that the list of the world's top 50 construction machinery manufacturers in 2005 showed that sales increased by 31.1% over 2004. Therefore, although the growth rate of 14.4% in 2006 shows that the construction machinery industry is moving forward, it may also be a sign of impending decline.
Caterpillar ranks first
Caterpillar naturally takes the lead in the top 50 of the world's construction machinery manufacturers, and its advantages are increasing. According to 2005 statistics, Caterpillar’s ​​sales accounted for 23.2% of the top 50 manufacturers’ total sales, which was 1.6% higher than the 21.7% of the top 50 rankings in 2004. Komatsu ranked second again, and the proportion of 9.6% of the top 50 total sales remained unchanged. Terex still occupied the third position with a share of 6.5%, an increase of 0.7% from 2004.
The increase in the sales share of Caterpillar and Terex is a reflection of the good performance of all U.S. manufacturers. All U.S. manufacturers maintained their position in the statistics at least in 2005, and many manufacturers have improved their rankings. Altair Industries is the only exception to this, as the “International Construction†has revised its assessment of sales and the company’s ranking has dropped by six.
However, in addition to Altek Industries, US manufacturers' rankings in the top 50 rankings have risen significantly. John Deere surpassed Volvo Construction Equipment in fourth place, while JLG and Manitowoc entered the top 15 for the first time. Secondly, the ranks of Astec and Gehl have also improved.
U.S. manufacturers accounted for 47.8% of the total sales of the top 50 construction machinery manufacturers in the world, which is 2.8 percentage points higher than the 45% of the 2005 list. Back in 2004, the share of U.S. manufacturers was 43.4%, indicating that U.S. manufacturers are gradually consolidating their share of sales in the world of construction machinery equipment. According to 2005 statistics, the share of U.S. manufacturers in the past two years has increased by 4.4%, which is equivalent to an increase of 4.35 billion U.S. dollars in sales each year.
The list of the world's top 50 construction machinery manufacturers in 2005 shows that North American and Asian manufacturers’ market share has increased, while European manufacturers’ market share has declined. However, in 2006, European manufacturers consolidated their position better, and the majority of U.S. manufacturers’ share was gained from Asian equipment manufacturers.
The European market share in the 2006 rankings was 26.3%, down by 0.6% from 26.9% in 2005. However, Asian manufacturers’ market share fell even more, falling by 2.5 percentage points to 25.4%. This overall trend can be easily seen from the top 50 rankings. Among the top 10 manufacturers, Liebherr has surpassed Hitachi, while other Asian manufacturers that have dropped in the list include Kobelco, Doosan, Sumitomo, and Kato.
Japanese manufacturers account for the majority of Asian construction machinery and equipment manufacturers, so the list of the world's top 50 construction machinery manufacturers in 2006 reflects Japan's apparent decline in the global construction machinery industry's share. Japanese manufacturers accounted for 19.6% of total sales, which is the lowest share of Japanese manufacturers in the world’s top 50 list of construction machinery manufacturers in four years.
The share of Chinese manufacturers in the global market also declined slightly, from 2.9% to 2.6%. Most of the leading manufacturers, including Liugong, Sany Heavy Industry, Shandong Xiangjiang Holdings, Xiagong and Xugong Technology all declined. In 2005, Shantui ranked within the top 50 fell out of the world in 2006. Out of the top 50 construction machinery manufacturers.
The decline in the market share of Chinese manufacturers is related to the tightening of the loans implemented by the central government in mid-2004. This policy clearly has the expected effect of "light braking" on the control of China's overheated economy, and the effect it showed in 2005 seems to be more pronounced than it was in 2004. This is because 2004 was a mixed year of policy alternation, with high sales at the beginning of the year and the subsequent 7 months in a tight loan situation, so that the annual sales were averaged to a reasonable level. However, in 2005, it was in a tight loan environment throughout the year, so sales growth was not enough to reach the overall level of 2004 until the end of the year.
Forecast
Any prediction is always insurmountable, but 2006 seems to be a year of recovery for Asian manufacturers. Japan’s economy is improving, and despite the 2004 loan tightening policy, the demand for construction machinery and equipment in China continues to grow strongly.
The growth rate of the entire industry slowed down significantly in 2005. It remains to be seen whether the sales volume in 2006 will increase. Even if there is growth, the growth rate will be relatively small, and whether or not it can grow depends on the state of the US market, and it is less dependent on the development of the European market. The US and European markets are likely to decline in 2006. If this happens, then the entire industry will have to place hope on the strong performance of the Asian market to make up for the losses in other regions.
company situation
The world's top 50 manufacturers of construction machinery manufacturers have increased their market share. as the picture shows,
The largest 15 manufacturers accounted for 77.9% of the total sales of all 50 manufacturers, an increase of 0.9% from 77.0% of the previous year. Another notable phenomenon is that the five largest manufacturers - Caterpillar, Komatsu, Terex, Deere and Volvo - currently accounted for 49.2% of total sales, a significant increase from 47.1% in the previous year.
U.S. manufacturers have gained the most market share, and this is not very surprising. The U.S. market has been booming since mid-2003. According to the statistics of the British Construction Machinery Consulting Co., Ltd., U.S. equipment sales increased by 16% in 2005. The development of the U.S. market has benefited the global construction machinery industry, but when each specific market is initially developed, it is usually the local manufacturers that benefit the most. This part benefits from the patriotism of Americans. Americans have a good tradition of favoring products made in the United States, but the more important reason may be that domestic manufacturers have longer business hours in the local market and they It is possible to have a large and dense network of dealers, so it is easy to gain profits as the industry grows.
statistical methods
Although we make every effort to ensure that the information in this report is accurate, the “International Construction†will not be responsible for any errors or omissions that may appear in the report. The rankings were based on the sales of construction machinery and equipment for each company in the previous financial year. Sources of information include company annual reports, company financial statements, and data provided by prominent consulting firms. It is necessary to point out that the figures in the "National Statistics" and "Regional Statistics" figures are based on the location of the company's headquarters. These figures do not reflect in any form the market size and equipment production levels of different countries and regions in the world.
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Analysis of Top 50 Construction Machinery Equipment Manufacturers in the World
Driven by the development of North American construction machinery manufacturers, total sales of the world’s 50 largest construction equipment manufacturers in 2005 increased by 14.4%.