$44.1bn
$X.Xbn
63,471
623
$X.Xbn
Construction machinery manufacturers produce equipment for residential, nonresidential, highway and other infrastructure construction. Demand for construction machinery depends on the level of private construction spending and government funding for infrastructure projects. Manufacturers also rely on international markets and are susceptible to changes in global trade conditions, particularly tariffs, international conflicts and regulation changes. Volatile steel prices have also impacted construction machinery manufacturers, hindering profit through 2023.
Industry revenue has grown at a CAGR of 1.1 % over the past five years, to reach an estimated $44.1bn in 2023.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2023 | Revenue ($m)
2023 | Profit ($m)
2023 | Profit Margin (%)
2023 |
---|---|---|---|---|
Caterpillar Inc. | 8,439.1 | 940.4 | 11.1 | |
Deere & Co | 5,399.2 | 840.3 | 15.6 | |
Liebherr Group | 4,850.0 | 160.0 | 3.3 |
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Industry revenue is measured across several distinct product and services lines, including Power cranes, draglines and shovels, Other construction machinery and equipment and Tractor shovel loaders, dozers and other tractors. Power cranes, draglines and shovels is the largest segment of the Construction Machinery Manufacturing in the US.
The need for excavation and mining machinery has weakened
Industry operators manufacture construction machinery and equipment for use in residential, nonresidential, highway, street and other infrastructure construction.
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NAICS 33312 - Construction Machinery Manufacturing in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Slowed construction activity limits demand for machinery. Increasing economic uncertainty and elevated interest rates have hindered demand for new construction projects, harm...
Learn about an industry's products and services, markets and trends in international trade.
Construction companies try to fix machines before purchasing new ones to cut costs. Although fixing machinery enables construction companies to lower operating costs, it also...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Easy access to raw materials lowers costs. Manufacturers located close to the Canadian border benefit from low transportation costs and easy access to steel.
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Buyers are highly price-sensitive. Low-cost, high-performing machinery enables construction companies to reduce costs, leading to more repeat sales.
Learn about the performance of the top companies in the industry.
Most manufacturers have an international presence. These companies successfully leverage trade markets to reap the largest returns, giving them more diverse revenue streams c...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Infrastructure spending has helped to mitigate falling construction activity as interest rates rise. Machinery for the construction and updates of infrastructure across the U...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Current economic conditions have stifled profit growth. Lower construction activity and skyrocketing input prices have threatened profit, especially for smaller companies wit...
Including values and annual change:
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Key data sources in the US include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
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The market size of the Construction Machinery Manufacturing in the US industry in United States is $44.1bn in 2024.
There are 623 businesses in the Construction Machinery Manufacturing in the US industry in United States, which has declined at a CAGR of 1.0 % between 2018 and 2023.
The market size of the Construction Machinery Manufacturing in the US industry in United States has been growing at a CAGR of 1.1 % between 2018 and 2023.
Over the next five years, the Construction Machinery Manufacturing in the US industry in United States is expected to grow.
The biggest companies operating in the Construction Machinery Manufacturing market in United States are Caterpillar Inc., Deere & Co and Liebherr Group
Backhoe and Bucket and excavator (e.g. clamshell, concrete, drag scraper, dragline and shovel) are part of the Construction Machinery Manufacturing in the US industry.
The company holding the most market share in United States is Caterpillar Inc..
The level of competition is high and increasing in the Construction Machinery Manufacturing in the US industry in United States.