Top 10 Mining Equipment Manufacturers in the World in 2021 by Revenue

Caterpillar Inc, AB Volvo, Tata Motors Ltd, Komatsu Ltd, and CNH Industrial NV are the top 5 mining equipment manufacturers in the world in 2021 by revenue. Cumulatively, the top 10 mining equipment manufacturers in the world generated revenue of $235,990 million, with average revenue growth of 5.3%, the highest revenue was generated by Caterpillar Inc ($50,971 million), followed by AB Volvo ($43,394 million) and Tata Motors Ltd ($37,714 million), while the lowest revenue was registered by Doosan Corp ($11,541 million). The highest revenue growth was registered by CNH Industrial NV (32.5%), followed by Caterpillar Inc (22.1%), and the lowest revenue increase was registered by Korea Shipbuilding & Offshore Engineering Co Ltd (3.9%). Doosan Corp reported a decline in its revenues by 22.2%. In terms of the geographical split, 5 out of the world’s top 10 equipment manufacturers are based in Asia, while 4 are based in Europe, and the remaining 1 is based in North America. They employed a total of 563,072 people in 2021. The United States of America-based Caterpillar Inc is the leading 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 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 and employs 107,700 people. Komatsu Ltd (Komatsu) is another leading mining equipment manufacturer in the world by revenue. Komatsu 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. Geographically, the company reports revenue through six regions namely, China, Asia and Oceania, Europe and CIS, Japan, the Middle East and Africa, and the Americas.