Updated: How the positions of the world’s top OEMs have changed in 2024

The new charts follow the publication this spring of the Yellow Table 2024. The first of the three animations shows how the 15 biggest companies in the world have grown or shrunk in the years since 2003 up until the 2024 table (which is based on 2023 full-year results).

The other three charts break down manufacturers’ performance by region, in Europe and Asia-Pacific and North America.

Trading places

The animation for the world as a whole shows how John Deere raced into third position ahead of Chinese manufacturer XCMG in 2024. Meanwhile, Liebherr moved ahead of both Sany and Volvo Construction equipment to take fourth spot.

In the international standings, JCB solidified its position in the top 10 by jumping one place into ninth, while Doosan Bobcat took 10th place in 2024. Both companies moved ahead of Sandvik Mining and Rock Technology which fell back two spots.

The rest of the top 15 remained unchanged between 2023 and 2024.

In Europe (above), Liebherr leapfrogged Volvo to become the biggest European OEM by revenue in 2024 for the first time since it last occupied Europe’s top spot in the 2017 Yellow Table.

JCB is back into third place among companies based in Europe (despite the fact that the UK, where it is based, is no longer part of the European Union), jumping ahead of Sandvik.

The only other change in position was Manitou Group’s move into nonth spot, ahead of Austrian-based manufacturer of hydraulic lifting, loading and handling systems Palfinger.

In Asia Pacific (above), the status quo largely remained the same. Komatsu, XCMG, Sany, and Hitachi Construction Machinery all stayed rooted in first to fifth places respectively.

Further down the order, Kubota swapped places with Liugong to take seventh place in the region, while Hyundai Construction Equipment moved ahead of Sumitomo in 10th.

The picture in North America has remained stable in terms of OEM’s positions relative to each other for the last decade as the animation above shows. The only significant movement has been John Deere, which has overtaken Terex to become North America’s second-biggest OEM after Caterpillar.

The Yellow Table

To view the 2024 version of the Yellow Table in full, click here. You can also find an archive of the Yellow Table stretching back to 2006 online in International Construction’s digital editions.

Positions in the Yellow Table for each year are based on construction equipment sales in the previous calendar year in US dollars. Currencies have been converted to dollars based on the average exchange rate over the course of each year to try and ensure fairness.

Each year, International Construction gathers the data from a variety of sources, including audited accounts, company statements and reputable third party sources. In Japan, India and certain other countries, the use of the fiscal year (end of 31 March) makes it impossible to establish calendar year information. In these cases, fiscal year results were used.

In some cases, International Construction made an estimate of revenues based on historical data and industry trends. While every effort has been made to ensure information in this chart is accurate, International Construction does not accept any liability for errors or omissions.

If you would like to comment on the Yellow Table or feel your company should be included, please email International Construction editor Andy Brown at: andy.brown@khl.com