Top 9 Surface Equipment Suppliers in the World in 2021 by Share of Fleet

Caterpillar Inc, Komatsu Ltd, Hitachi Construction Machinery Co Ltd, AB Volvo, and Epiroc AB are the top 5 surface equipment suppliers in the world in 2021 by share of the fleet. Collectively, the top 9 surface equipment suppliers in the world had a share of the fleet of a total of 92%. Caterpillar Inc incurred the highest share of the fleet of 44%, followed by Komatsu Ltd (19%), and Hitachi Construction Machinery Co Ltd (7%), while the companies Sandvik AB (2%) and BelAZ (1%) had the lowest share of fleet. In terms of geographical split, 5 out of 9 of the world’s top surface equipment suppliers by share of the fleet are based in Europe, while 3 companies are based in Asia and the remaining 1 is based in North America. The United States of America-based Caterpillar Inc is the leading surface equipment supplier in the world by share of the fleet. 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 company is a manufacturer of construction, transportation, and energy equipment. It designs, manufactures, markets, and sells construction and mining equipment, industrial gas turbines, forestry equipment, diesel-electric locomotives, and diesel and natural gas engines. In 2021, the company employed 107,700 people. Komatsu Ltd is one of the leading surface equipment suppliers in the world by share of the fleet. The company reported revenues of $20,653 million for the fiscal year ended March 2021 (FY2021), a decrease of 10% over FY2020. The company manufactures construction, mining and utility equipment and distributes industrial machinery and vehicles. Komatsu operates its business through three segments: Construction, Mining and Utility Equipment; Industrial Machinery and Others; and Retail Finance. It is headquartered in Tokyo, Japan, and employs 61,564 people.