The International Construction magazine, under the UK-based KHL Group, has released its annual ranking of the Top 50 global construction equipment manufacturers for 2024.

In 2023, the combined equipment sales of the top 50 companies reached a record-high of $243.4 billion USD. Thirteen Chinese companies made the list, with XCMG Group and Sany Heavy Industry entering the top ten.

Here is the list of companies ranked by their annual sales in the construction machinery sector, along with their headquarters and market shares:

1. Caterpillar (USA) $41.0 billion / 16.8%

2. Komatsu (Japan) $25.302 billion / 10.4%

3. John Deere (USA) $14.795 billion / 6.1%

4. XCMG Group (China) $12.964 billion / 5.3%

5. Liebherr (Germany) $10.32 billion / 4.2%

6. Sany Heavy Industry (China) $10.224 billion / 4.2%

7. Volvo Construction Equipment (Sweden) $9.892 billion / 4.1%

8. Hitachi Construction Machinery (Japan) $9.105 billion / 3.7%

9. JCB (UK) $8.082 billion / 3.3%

10. Doosan Bobcat (South Korea) $7.483 billion / 3.1%

11. Sandvik Mining and Rock Technology (Sweden) $7.271 billion / 3.0%

12. Zoomlion Heavy Industry (China) $5.813 billion / 2.4%

13. Metso Outotec (Finland) $5.683 billion / 2.3%

14. Epiroc (Sweden) $5.591 billion / 2.3%

15. Terex (USA) $5.152 billion / 2.1%

16. Oshkosh Access Equipment, JLG (USA) $4.99 billion / 2.0%

17. Kubota (Japan) $4.295 billion / 1.8%

18. CNH Industrial (Italy) $3.9 billion / 1.6%

19. Liugong (China) $3.842 billion / 1.6%

20. HD Hyundai Infracore (South Korea) $3.57 billion / 1.5%

21. Hyundai Construction Equipment (South Korea) $2.93 billion / 1.2%

22. Kobelco Construction Machinery (Japan) $2.889 billion / 1.2%

23. Wacker Neuson (Germany) $2.872 billion / 1.2%

24. Manitou Group (France) $2.675 billion / 1.1%

25. Palfinger (Austria) $2.651 billion / 1.1%

26. Sumitomo Heavy Industries (Japan) $2.585 billion / 1.1%

27. Fayat Group (France) $2.272 billion / 0.9%

28. Manitowoc (USA) $2.228 billion / 0.9%

29. Tadano (Japan) $1.996 billion / 0.8%

30. Hiab (Finland) $1.586 billion / 0.7%

31. Shantui (China) $1.472 billion / 0.6%

32. Lonking (China) $1.469 billion / 0.6%

33. Takeuchi (Japan) $1.459 billion / 0.6%

34. LGMG (China) $1.4 billion / 0.6%

35. Astec Industries (USA) $1.338 billion / 0.5%

36. Ammann (Switzerland) $1.284 billion / 0.5%

37. CRCHI (China) $0.983 billion / 0.4%

38. Bauer (Germany) $0.931 billion / 0.4%

39. Dingli (China) $0.881 billion / 0.4%

40. Skyjack (Canada) $0.866 billion / 0.4%

41. Sunward (China) $0.849 billion / 0.3%

42. Haulotte Group (France) $0.83 billion / 0.3%

43. Tonly (China) $0.818 billion / 0.3%

44. Hidromek (Turkey) $0.757 billion / 0.3%

45. Sennebogen (Germany) $0.747 billion / 0.3%

46. Bell Equipment (South Africa) $0.745 billion / 0.3%

47. Yanmar (Japan) $0.728 billion / 0.3%

48. Merlo (Italy) $0.692 billion / 0.3%

49. Lovol (China) $0.678 billion / 0.3%

50. Sinoboom (China) $0.528 billion / 0.2