The agriculture, construction, and mining machinery manufacturing industry comprises establishments offering farm machinery and equipment, lawn and garden tractor, home lawn and garden equipment, construction machinery, mining machinery and equipment, and oil and gas field machinery and equipment manufacturing.
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The market is valued at $860 billion in 2017 because of continuous worldwide expansion activity, growing population, exploration of shale oil, and rising per capital incomes.
The agriculture, construction, and mining machinery manufacturing market in The Business Research Company’s report is segmented into three segments, namely construction machinery manufacturing, agricultural implement manufacturing, and mining and oil and gas field machinery manufacturing. While the first segment accounts for more than half of the market share, the remaining share is attributed to the other two segments.
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China was the largest country in the agriculture, construction, and mining machinery manufacturing market in 2017, accounting for nearly one-fifth of the market share. This was mainly due to the continuously improving infrastructure along with the government support favouring farm mechanization. China was followed by the USA and Japan as the next largest countries in the market.
Caterpillar Inc. was the largest competitor in the agriculture, construction, and mining machinery manufacturing market, followed by Deere & Company and CNH Industrial N.V. Caterpillar designs, develops, engineers, manufactures, markets and sells machinery, engines, financial products and insurance to customers via a worldwide dealer network. The company is headquartered in Peoria, Illinois, U.S and employs around 95,400 people globally.
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