Blog Post

World's Largest Construction Equipment Manufacturer, Caterpillar sets world record

December 17, 2024

Irving, Texas, United States--Caterpillar Inc., also known as Cat, (NYSE: CAT), an American construction, mining and other engineering equipment manufacturer, has over 500 locations across the globe, employs 107,700 people and distributed its products through 44 distributors in the US and 116 in other regions across 193 countries; with over US$37 billion in sales, Caterpillar sets the world record for being the World's Largest Construction Equipment Manufacturer, according to the WORLD RECORD ACADEMY.

"Caterpillar Inc., also known as Cat, is an American construction, mining and other engineering equipment manufacturer. The company is the world's largest manufacturer of construction equipment.

"Caterpillar Inc. traces its origins to the 1925 merger of the Holt Manufacturing Company and the C. L. Best Tractor Company, creating a new entity, California-based Caterpillar Tractor Company. In 1986, the company reorganized itself as a Delaware corporation under the current name, Caterpillar Inc. Its headquarters are located in Irving, Texas, since 2022.

"The company also licenses and markets a line of clothing and work wear boots under its Cat / Caterpillar name. Additionally, the company licensed the Cat phone brand of toughened mobile phones and rugged smartphones from 2012 to 2024. Caterpillar machinery and other company-branded products are recognizable by their trademark "Caterpillar Yellow" livery and the "CAT" logo." (Wikipedia)

"Caterpillar, Inc. engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives," the Forbes says.

"It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other. The Construction Industries segment supports customers using machinery in infrastructure and building construction applications.

"The Resource Industries segment is responsible for supporting customers using machinery in mining and quarrying applications and it includes business strategy, product design, product management and development, manufacturing, marketing and sales and product support. The company was founded on April 15, 1925 and is headquartered in Deerfield, IL."

"The United States of America-based Caterpillar Inc is the major construction equipment manufacturer in the world (by revenue). The company reported revenues of $50,971 million for the fiscal year ended December 2021 (FY2021), an increase of 22.1% over FY2020, due to lower provision for credit losses at Cat Financial," the GlobalData reports.

"The company is a manufacturer of construction, transportation, and energy equipment. It designs, manufactures, markets, and sells construction and mining equipment.

"The company also offers retail and wholesale financing solutions for Caterpillar products to customers and dealers. As of December 2021, Caterpillar distributed its products through 44 distributors in the US and 116 in other regions across 193 countries. The company employs 107,700 people."

"Caterpillar, also known as CAT, is the world's largest construction equipment supplier and manufacturer," the DOZR says.

"With over 500 locations across the globe, the Caterpillar brand is on almost every continent. With a history dating back to 1925, the CAT brand continues to grow with revenues reaching 59 billion in 2022.

"Their equipment can be seen on almost every construction site across the world. They make a wide range of construction equipment ranging from compact equipment for residential projects to the biggest equipment that is designed for mines and quarries."

World’s top 10 construction equipment manufacturers:

1. Caterpillar, USA

"Caterpillar, headquartered in Illinois, US, is once again the world’s largest construction equipment manufacturer with sales of US$32 billion, which equates to 13.8% of the list’s total amount," the Construction Briefing says.

"Caterpillar produces a wide range of construction equipment including excavators, wheeled loaders, skid steer loaders, motor graders, backhoe loaders, hauling trucks and more."

"Our company strategy reflects our legacy and our continuing commitment to meet the needs of our customers and the communities in which we live and work," the Caterpillar's official website says.

United by our Values, Caterpillar employees around the world share a focused view of our business through the Operating & Execution Model, through which we are making strategic choices today to create profitable growth for tomorrow.

"Together, with our partners, we help our customers build a better, more sustainable world."

"1. Caterpillar (U.S.) - Caterpillar, headquartered in Illinois, is once again the world’s largest construction equipment manufacturer with sales of $32 billion, which equates to 13.8% of the list’s total amount," the CONEXPO-CON/AGG says.

"Caterpillar produces a wide range of construction equipment including excavators, wheel loaders, skid-steer loaders, motor graders, backhoe-loaders, hauling trucks and more."

"The U.S.-based company Caterpillar Inc. has been deemed the world’s largest construction equipment supplier, selling $37.5 billion worth of equipment in 2022 and holding a 16.3% market share," the NORS says.

"In addition to manufacturing and selling construction equipment, Caterpillar Inc. also produces mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives.

"Caterpillar Inc.’s heavy equipment line is made up of over 300 machines, which include excavators, wheel loaders, compactors, and backhoe loaders.

Caterpillar’s Overview

Founded in 1925, headquartered in Deerfield, Illinois.
Annual revenue: Approximately $51 billion (2020).
Employs over 97,300 people worldwide.

Caterpillar’s Specialties

Comprehensive product line: Excavators, wheel loaders, bulldozers, off-highway trucks, backhoe loaders, and motor graders.
Engines and power systems for various industries.
Financial products and insurance services through Cat Financial.

Caterpillar’s Achievements

Consistently ranked #1 in construction equipment manufacturing globally.
Pioneered the development of autonomous mining trucks.
Launched the world’s largest electric drive dozer, the D11 XE.
Invested heavily in AI and machine learning for predictive maintenance.

(Source: CAMAL Group)

"International Construction Magazine has released its Yellow Table, an annual ranking of the world’s top 50 construction equipment manufacturers by sales figures," the Ritchie Bros says.

"The magazine is reporting construction equipment sales reached a combined $230.6 billion in 2022 for the world’s top 50 OEMs. That’s down slightly from last year’s US$232.7 billion, the highest figure ever recorded by the survey. Here’s a look at the world’s top five construction equipment manufacturers, as published in the 2023 Yellow Table ranking:

1. Caterpillar (USA) – US$37.5 billion

With over US$37 billion in sales, Caterpillar continues to reign supreme atop the Yellow Table standings. The US-based equipment giant accounted for 16% of the top-50’s total revenue.

World's largest construction machinery manufacturers by sales 2023

"Caterpillar was the world's largest construction machinery manufacturers in 2023, based on construction equipment sales: Caterpillar sold equipment to the value of around 41 billion U.S. dollars," the Statista says.