Analysis on the development status and Competition of global construction machinery manufacturing industry in 2020

Overall, the global sales of construction machinery and equipment are on the rise, especially in 2018-2019, when the industry reached a peak of over 1.1 million units. According to OffHighway Research, the number will drop to 891,000 in 2020, a 19% year-on-year drop, due to the impact of coVID-19.

According to YellowTables, the world's TOP50 construction equipment makers will have sales of $197.251 billion in 2020, up 3.27 percent from a year earlier, which has been growing for several years but at a slower pace. In terms of profits, the total operating profit of the global TOP50 construction machinery manufacturers  was  $22.03 billion in 2020, slightly down from the same period of the last year.