Earth moving equipment is typically a heavy-duty vehicle which is designed for operating in construction sites that involve earthworks. Earth moving equipment is used to dig foundations for buildings or move a large amount of surface layer and so on. Earth moving equipment can include equipment like heavy machines, heavy trucks, construction equipment, heavy vehicles, engineering equipment, and heavy hydraulics – and there are lots of world famous earthmoving companies known for the quality of their equipment. Today, earth moving equipment faces the highest demand from the construction industry all over the world, followed by the mining industry. The demand for earth moving equipment during the forecast period is primarily driven by the growth in public infrastructure construction activity in the developing regions like APAC, MEA, and South America. Furthermore, the increase in investments in public infrastructure building will fuel the demand for earth moving equipment in these regions in the years to come. This would result in the impressive growth of the earthmoving companies over the next four years.
Earth Moving Equipment
Market Overview
- Population growth, urbanization, and industrial development are major factors contributing to the rising demand for earth moving equipment
- Reconstruction and rebuilding of aging public infrastructure in developed regions like Europe and North America are one of the major factors for the rapid increase in the demand for earth moving equipment
- Adopting a PPP model for infrastructure construction is one of the crucial factors that is supporting the construction industry globally and is leading to a rise in the demand for earth moving equipment
- Increasing prices of raw materials such as steel and aluminum which are used to manufacture earth moving equipment components and rapid increase in freight charges for transporting this equipment to buyer facilities can increase the prices for earth moving equipment during the forecast period
- The regions like North America and Europe are also going to evidence the increase in freight charges for transporting machinery such as earth moving equipment owing to the shortage of drivers for heavy-duty vehicles used in the transport of this equipment
Top Earthmoving Companies
Today, a large number of earthmoving companies have offices in major centers of demand like North America, Europe, and APAC. Competition among these earthmoving companies can curb the rise in prices to an extent in these regions. Here is the list of few earthmoving companies who are known globally for the quality of their equipment:
Caterpillar
Caterpillar Inc. founded in 1925, is an American Fortune 100 corporation that has expertise in designing, developing, engineering, manufacturing, marketing, and selling machinery, financial products, engines and insurance to customers via a worldwide dealer network. It is one of the largest earthmoving companies and is the world’s largest construction equipment manufacturer. Caterpillar is committed to improving the safety, quality, and competitive cost of all earth moving equipment it supplies. They also provide digital enabled solutions that help them to have better customer loyalty.
Komatsu
Komatsu is a Japanese multinational corporation founded in 1921. They are one of the well-known earthmoving companies who are engaged in the manufacturing of construction, mining, and military equipment. Komatsu is one of the earthmoving companies that manufactures industrial equipment like press machines, lasers, and thermoelectric generators. Their mining and construction equipment comprises of machines that include continuous miners, electric rope shovels, hydraulic excavators, motor grades, wheel loaders, mini excavators and dump trucks. In April 2017, the American subsidiary of Komatsu acquired Joy Global, a world leader in high-productivity mining solutions. Komatsu is one of the earthmoving companies that has recently announced a partnership with NVIDIA to work on the safety and productivity of construction job site operations by introducing AI.
Hitachi
Hitachi is one of the world famous earthmoving companies founded in 1970. It deals with the manufacturing, development, marketing, and sales of equipment for construction. Hitachi’s mining equipment includes loaders, excavators, recycle machines, crawler cranes, compaction equipment, bulldozers and dump trucks. Hitachi Construction Machinery in the year 2017, entered into a partnership with Trimble to improve its capabilities for fleet management.
XCMG
XCMG Group is one of the famous multinational earthmoving companies owned by the Chinese government. It is known for heavy machinery manufacturing and is headquartered in Jiangsu. It has its presence in 177 countries all around the world. This company ranks 5th in the world’s construction machinery industry and 122nd among the Top 500 Chinese enterprises. Also, it has 49th rank among the Top 100 enterprises in the Chinese manufacturing industry, and 2nd among the Top 100 enterprises in Chinese machine-building industry.
Terex
Terex Corporation is one of the well-known earthmoving companies across the globe. It is a global manufacturer of services delivering lifecycle solutions and lifting and material processing products that results in maximizing customer ROI. Some of the major Terex brands comprises of Terex, Power screen, Genie, and Demag. Terex solutions serve a wide range of industries like construction, manufacturing, infrastructure, shipping, transportation, energy, refining, utilities, mining, and quarrying.
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