Top 10 mining equipment manufacturers
Working as a miner can pose some serious and dangerous health hazards. Mining involves unearthing valuable resources, a task that requires heavy mining equipment.
Mining equipment can be categorized depending on the set of mining activities it is used for. These categories include dozers, trucks, wheel loaders, dryers, drillers, feeders, crushers, compressors, conveyor belts, and hydraulic pumps. The equipment performs various functions such as preparing land, excavating, hauling materials, arranging or dumping, handling of materials, and much more.
State-of-the-art tech is starting to crop up to enhance productivity in the mining industry. SpendEdge, the procurement market intelligence report form, has shown that the category spend will be moved by the growing mining activities in the APAC sector.
Top manufacturers and suppliers of mining equipment are Wringten, Joy Mining Machinery, Hitachi, Liebherr, Atlas Copco, Komatsu, Ranson & Rappier, DBT, and Bucyrus Erie.
The revenue of world manufacturers of mining and construction equipment was $159 billion in the last year. This is a huge market with some really big manufacturers.
Leading mining equipment manufacturers.
Ever since their creation, Caterpillar and Komatsu have been the undefeated top of the chain. These companies are ranked first and second, respectively.
Other manufacturing companies have been left behind by a significant distance when comparing sales volume.
Although, recently Caterpillar has had a massive setback in its sales volume by almost $3 billion. This was due to its reduction in its involvement in the mining industry. This drop resulted in a 1.2% decrease in the shares of the firm in overall sales volume.
A list of the top 10 mining equipment manufacturing firms by global market share
- Caterpillar 17.8%
- Komatsu 10.6%
- Hitachi 4.9%
- Volvo 4.9%
- Terex 4.6%
- Liebherr 4.5%
- John Deere 4.1%
- XCMG 3.9%
- Sany 3.4%
- Doosan 3.4%
Other companies make up the remaining 37.9%
The fight to win market share among this top 10 is still ongoing.
For the companies to improve their market share, they aim to raise quality and service. They increase their product range and adapt to more competitive marketing approaches.
To have a competitive edge, they need to deliver high-quality goods at a lower price. 60% of the manufacturing companies surveyed have also already laid tactical alliances.
Here's a breakdown of each of these top 10 equipment manufacturers;
1. Caterpillar equipment
Caterpillar Inc., was founded and is based in America. It is an American Fortune 100 corporation that manufactures engines and machinery. They also provide insurance to their clients through a worldwide dealer network and financial products.
Caterpillar Inc. is the leading manufacturer of mining and construction equipment globally. The trademark it often uses in its products is CAT, CAT Financial, Anchor, Perkins, CAT Reman, Asiatrak, FG Wilson, Mak, Yellow mark, and Hypac.
In 2016 Fortune 500 global, Caterpillar Inc. was ranked 194th.
In 2019, the firm made sales worth $32.88 billion of heavy equipment.
2. Komatsu Mining Corp
Komatsu was formed and is based in Japan. It is a multinational company that manufactures industrial tools such as lasers, press machines, and thermoelectric generators. Komatsu is mainly involved in the manufacturing of mining, construction, and military equipment.
Komatsu's construction and mining equipment include machines such as hydraulic excavators, motor graders, electric rope shovels, continuous miners, wheel loaders, dump trucks, and mini excavators.
In 2019, Komatsu made sales worth $23.29 billion of heavy equipment, translating to an 11.5% share of the global market.
3. Deere and Company
This is an American-based multinational firm with its headquarters at Moline, Illinois. Deere & Company manufactures machine for construction, agriculture, forestry, and many more industries.
The company was created in 1837 by John Deere, an American blacksmith, and manufacturer.
John Deere & Co. made a revenue of $11.2 billion from heavy machinery sales in 2019. This figure translated to a 5.5% market of worldwide construction equipment.
Fortune 500 listed Deere & Co. 97th in America’s ranking.
4. XCMG (Xuzhou Construction Machinery Group)
This is a firm based in China that majors in civil engineering machinery. XCMG manufactures loaders, road rollers, spreaders, mixing machines, cranes, and many more.
It is the largest Chinese construction equipment manufacturer, running for more than 29 years.
XCMG raised $11.16 billion from construction equipment sales, translating to a 5.5% share in 2019.
Terex Corporation is a worldwide manufacturer of material-handling machines, founded in America. They make equipment for a variety of industries, including construction, infrastructure, quarrying, recycling, energy, mining, shipping, transportation, refining and utilities.
The company most provide equipment for aerial work platforms, construction cranes, bulk-material hauling machines, road-paving machines, and container-port cranes.
Terex operates globally from a number of manufacturing plants. They also provide financial products and services to help their customers buy their machines.
6. Sany Group
Sany, a Changsha, China-based firm, is the fifth-largest manufacturer of heavy equipment worldwide. Sany was the first Chinese company to be featured in the FT Global 500 and the Forbes Global 2000 listing.
Sany came into the limelight with its top ranked machinery. It also supplies excavators, wheel loaders, and other heavy machinery.
The firm currently has 25 manufacturing bases globally as well as overseas plants located in the US, Brazil, Germany, and India. Sany has also built six industrial parks in Shanghai, Beijing, Shenyang, Kunshan, Urumchi, and Changsha.
In 2019, Sany Group made sales worth $10.95 billion from construction equipment, translating to a 5.4% share of overall global sales.
7. Volvo CE
Volvo Construction Equipment is the construction branch of Volvo, the Swedish carmaker. It is one of the most popular heavy equipment firms globally.
Volvo CE develops, manufactures, and sells equipment for use in construction or related operations, i.e., mining equipment and trucks. Its machinery range includes compactors, loaders, backhoes, pavers, articulated haulers, wheel loaders, asphalt compactors, and motor graders.
Its production facilities are located in China, Russia, United States, Sweden, India, Korea, France, Germany, Scotland, and Brazil.
In 2019, Volvo CE made sales valuing at $9.38 billion of heavy equipment.
8. Hitachi Construction Machinery
Coming up is a Japanese company too.
Hitachi is a construction equipment manufacturer that majors in developing, manufacturing, marketing, and selling their construction and mining equipment.
Hitachi produces mining equipment such as excavators, compaction equipment, bulldozers, loaders, crawler cranes, recycle machines, and dump trucks.
Hitachi got into collaboration with Trimble in March of 2017. This partnership was aimed at enhancing Hitachi’s fleet management competencies.
HCM has its operations undergoing in North America, Europe, Asia, and South America.
In 2019, it made sales worth $8.99 billion from heavy equipment sales, translating to a 4.4% market share.
9. Liebherr Group
This firm is popular for supplying heavy equipment in Europe. It was created in 1949 by Hans Liebherr from Baden-Wurttemberg, Germany.
Liebherr Group produces a range of excavators, wheeled loaders, dozers, telescopic handlers, and cranes.
The firm is still wholly owned by the Liebherr family. In 2019, it made sales worth $8.57 billion of machinery, significantly flopping from 2018's $11.6 billion.
The firm has a 4.2% share of the global heavy machinery market.
10. Doosan Infracore
This is a Korean multinational firm that mainly deals with manufacturing and distributing heavy construction equipment. Doosan is famous for its high-quality excavators, articulated dump trucks, wheel loaders, mini-diggers, and compact loaders.
Doosan reshuffled its controls, moving control of Doosan Heavy to Doosan Infracore from Doosan Bobcat. This was done for the Middle East, Africa, and Europe in January 2018. The transfer was done so that the two sectors could develop their major roles fully.
Doosan made $6.69 billion in the sale of equipment in 2019, translating to a 3.3% share of global sales.
Other large construction and heavy equipment manufacturers
This is the first time that Zoomlion appears in the top 10 list.
It is a Chinese multinational firm that manufactures heavy machinery, including excavators, access equipment, bulldozers, drilling rigs, and concrete-related equipment.
In 2008 Zoomlion(1992), merged with CIFA, a global leading concrete machinery manufacturers. At that time, this was a European record acquisition by a Chinese firm.
The firm made $6.27 billion revenue from sales of heavy machinery in 2019, translating to a 3.1% share of the global market.
This company was created in 1873. Atlas Copco is a Swedish company that majors in the manufacture of industrial tools and equipment.
The company boasts a broad range of products: air compressors and industrial gases, industrial tools and solutions, vacuum solutions, mining and rock excavation equipment, and mobile tools.
There are attempts by Atlas Copco to get hold of Renegade Drilling Supplies Propriety assets. This is a South African manufacturer of drilling consumables to be utilized in mining explorations.
The company made sales in over 180 countries in the year 2016, recording a revenue of $11 billion.
Sandvik Mining and Rock Technology.
This international high-tech engineering corporation majors in tools and tooling systems used for metal cutting, equipment, and services for the construction and mining sector.
Sandvik Mining and Rock Technology have specialized in these primary services: mining and rock technology, machining solutions, and materials technology.
It has an employee base of about 43,000 employees spread over more than 150 countries. The firm generated a $9 billion revenue for the year 2016.
Sandvik is at the forefront of companies that were the first to utilize the Bessemer steel process commercially. Its production products have been categorized into mining and excavation tools, furnace products, hard and super-hard materials, metal cutting tools, and stainless steel.
Mining equipment rental
This sector is still in its early immature stages; however, several firms are partnering with the mining equipment rental market. This business model is made possible and encouraged by the low-interest regime.
By moving forward with this, it will boost the demand for small and medium-sized equipment. There has been a lowering of custom's duties, and removing age limits have seen importation of second-hand products that the rental firms use.
Contractors are also seeing better days due to this new rule. They can now focus on their main capabilities in construction and project managing at the same time having access to equipment without large investments.
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