2024 Global construction machinery Top 50:13 Chinese enterprises on the list, Xugong ranked fourth

The latest Yellow Table released by the International Construction magazine of KHL, a global construction machinery information provider, shows that the total sales of the world's top 50 construction machinery host manufacturers in 2024 will be 243.4 billion US dollars, an increase of 5.5% year-on-year, and a record high.

On the Yellow Table 2024 list, The top 10 were Caterpillar (16.8%), Komatsu (10.4%), John Deere (6.1%), Xugong XCMG (5.3%), Liebherr (4.2%), Sany Heavy Industry (4.2%), Volvo Construction Equipment (4.1%), Hitachi Construction Machinery (3.7%), JCB (3.3%) and Doosan Lynx (3.1%). .Among them, US company John Deere rose to third place from fourth last year. Since the acquisition of Wirtgen, John Deere has continued to rise in the rankings.

There are 13 Chinese companies in the list, and many of the Chinese construction machinery manufacturers are ranked lower than last year, with XCMG and Sany Heavy Industry falling one place from last year to rank fourth and sixth respectively. Zoomlion ranked 12th, while Liugong dropped two places to 19th. Shantui shares ranked 32nd, and China Longgong fell 2 places to rank 32nd.

In addition, there are heavy machinery (34), railway construction heavy industry (37), Zhejiang Dingli (39), Sanhe Intelligent (41), Tongli Heavy Industry (43), Foton Rewo (49), Xingbang intelligent (50).

Among them, Lingong Heavy machinery, Tongli Heavy Industry, Xingbang Intelligence is a new member of the list. Sinbang Intelligence, a maker of machinery for working at heights, ranked 51st in the list last year. Tongli Heavy Industry mainly produces off-highway dump trucks, temporary heavy machinery mainly produces high-altitude working machinery and mining vehicles.

According to the region where the enterprise is located, the overall revenue of Asian construction machinery enterprises has continued to decline in recent years, accounting for more than half (50.2%) of the total revenue of the list enterprises in 2022, the figure is 44.8% in 2023, and continues to decline to 42.8% in 2024. The share of European construction machinery companies' revenue rose from 27.5% in 2023 to 29%.

It is worth noting that the North American market continued to be strong, and the proportion of construction machinery enterprise revenue rose from 27.2% to 29.9%; According to Off-Highway Research data, 2023 North American construction machinery sales of about 330,000 units, an increase of 8%, again the highest sales record in the history of the region.

In the Yellow Table 2024 list, American construction machinery enterprises accounted for 28.6% of the total sales, the highest proportion of countries; Japanese construction machinery market accounted for 19.9% of total sales; Sales of Chinese construction machinery enterprises accounted for 17.2% of total sales, down from 18.2% last year. (The data in the Yellow Table show the revenue of the companies listed and do not represent the revenue performance of a region or a country as a whole. The list is based on the natural year 2023, but in Japan, India, and some other countries, the data covers fiscal year 2023, i.e., April 1, 2023 to March 31, 2024.)

Construction machinery is the basic industry supporting the national economy, and is regarded as the "barometer" and "weather vane" of the national economy, mainly including excavators, shovel transportation machinery, lifting machinery, compaction machinery, concrete machinery and other equipment, used in real estate development, infrastructure construction, energy mining and other fields.

KHL said that the overall sales of the global construction machinery market declined, but the sales in the list were not affected by two reasons, one is that the world's top 50 construction machinery host manufacturers are gaining more and more market share from the 51 to 100 host manufacturers; Second, the release of new demand in the field of aerial work machinery in Asia has made up for the decline in other aspects.

KHL expects that construction machinery sales in 2024 will be about 8% less than in 2023. Among them, the North American market is expected to remain strong, European sales declined slightly, and the Indian election will also have a negative impact on sales. Sales in China have fallen sharply in the past few years, and the market will bottom out in 2024.