Excavator Equipment

Excavator Equipment Market Outlook

The global excavator equipment market is projected to reach approximately USD 54.6 billion by 2035, growing at a compound annual growth rate (CAGR) of around 4.7% from 2025 to 2035. The primary growth factors for this market include rapid urbanization and industrialization, increasing investments in infrastructure development, and a growing demand for advanced machinery in various sectors such as construction, mining, and agriculture. Additionally, the rising need for efficient construction processes and the growing trend towards mechanization in industries further drive the demand for excavators. The ongoing technological advancements, including the integration of telematics and automation, are expected to enhance the performance and capabilities of excavators, leading to increased adoption across various applications. Furthermore, the surge in government initiatives to improve infrastructure, including roads, bridges, railways, and airports, is anticipated to significantly contribute to market expansion in the coming years.

Growth Factor of the Market

The excavator equipment market is being propelled by several key growth factors. One of the most significant drivers is the rapid urbanization occurring in emerging economies, where there is a substantial demand for modern infrastructure and housing. As cities expand, the need for heavy machinery like excavators to facilitate construction projects becomes increasingly critical. Additionally, increased government spending on public infrastructure projects, especially in regions like Asia Pacific and North America, is providing a substantial boost to the market. Another factor is the growing focus on automation and technological advancements in excavator machinery, which enhances operational efficiency and safety, thus making them more attractive for companies involved in construction and mining. Furthermore, the rise in environmental concerns has fueled the demand for eco-friendly equipment, prompting manufacturers to innovate and produce more sustainable excavators. The rental market for construction equipment is also on the rise, making it easier for smaller firms to access modern excavators without large capital investment, thus fueling overall market growth.

Key Highlights of the Market

• The global excavator equipment market is projected to experience a CAGR of 4.7% from 2025 to 2035.
• Urbanization and infrastructure development initiatives are driving the demand for excavators.
• Technological advancements, including automation and telematics integration, are enhancing excavator efficiency.
• The rental market for excavators is expanding, providing accessible options for smaller firms.
• Environmental concerns are leading to a shift towards more sustainable and eco-friendly excavator options.

By Product Type

Crawler Excavators:

Crawler excavators are among the most commonly used excavators due to their versatility and stability on uneven terrain. They are equipped with tracks instead of wheels, allowing for better weight distribution and traction, which makes them ideal for heavy-duty tasks in construction, mining, and demolition. These excavators can handle larger payloads and provide high digging depths and reach capabilities, which are essential in deep excavation tasks. Their robust design and ability to travel across rugged surfaces make them suitable for various applications, from urban construction sites to remote mining operations. Moreover, advancements in technology are leading to the development of more fuel-efficient crawler excavators, further enhancing their attractiveness for businesses looking to reduce operational costs while maintaining high productivity levels.

Mini Excavators:

Mini excavators have gained immense popularity in recent years, particularly for projects requiring precision and maneuverability in constrained spaces. These compact machines are designed for versatility and can easily navigate tight job sites, making them ideal for residential construction, landscaping, and utility projects. Their lightweight design allows for easy transportation, and they can be equipped with various attachments to perform multiple tasks, such as digging, grading, and demolition. The growing trend towards urbanization has led to an increased demand for mini excavators, especially in populated areas where larger machinery cannot operate efficiently. As manufacturers continue to innovate, mini excavators are becoming more technologically advanced, incorporating features such as advanced hydraulics and telematics systems that enhance operational efficiency.

Wheeled Excavators:

Wheeled excavators combine the flexibility of a wheeled vehicle with the power and functionality of traditional excavators. They are particularly favored in urban settings and applications where mobility and speed are essential, such as road construction and maintenance. Their ability to move quickly and easily between job sites makes them a practical choice for contractors who need to transport equipment frequently. Wheeled excavators typically feature a shorter turning radius and can operate in tighter spaces compared to crawler models, making them suitable for projects in congested urban areas. Additionally, advancements in engine technology have led to the development of more fuel-efficient wheeled excavators, which help reduce operating costs and environmental impact, further promoting their adoption in various industries.

Dragline Excavators:

Dragline excavators are large machines primarily used in surface mining and civil engineering projects. They are equipped with a dragline system that allows them to excavate large quantities of material, making them ideal for applications such as earthmoving, dredging, and mining operations. Their unique design and capability to reach impressive digging depths make them invaluable for large-scale projects. Dragline excavators are often used in the construction of dams, harbors, and other major infrastructure initiatives where material handling and excavation are critical. Although they require significant initial investment and are not as versatile as smaller excavators, their efficiency in large-scale operations justifies their use, particularly in industries where high productivity is essential.

Suction Excavators:

Suction excavators represent a specialized segment within the excavator market, utilizing a high-powered vacuum system to remove soil, debris, and other materials from work sites. This technology is particularly advantageous for applications requiring precision and minimal ground disturbance, such as utility installation, roadworks, and environmental clean-up. Suction excavators are designed to operate in sensitive environments, making them ideal for projects where traditional excavation methods could cause damage or disruption. The growing focus on sustainability and environmental protection is driving the demand for suction excavators, as they help minimize soil compaction, reduce emissions, and promote safer working conditions. As the market for utility maintenance and infrastructure upgrades expands, suction excavators are becoming increasingly popular among contractors seeking efficient and eco-friendly excavation solutions.

By Application

Construction:

The construction sector remains the largest application area for excavators, accounting for a significant portion of the market share. Excavators are indispensable in various construction projects, including residential, commercial, and infrastructure developments. Their ability to perform multiple tasks—such as digging foundations, grading land, and demolishing structures—makes them an essential piece of equipment on construction sites. Furthermore, the global increase in construction activities, driven by urbanization and government infrastructure projects, continues to fuel the demand for excavators. As new building technologies emerge, excavators equipped with advanced features are becoming more prevalent, allowing for enhanced productivity and efficiency on job sites.

Mining:

In the mining industry, excavators play a crucial role in the extraction and handling of minerals and earth materials. They are utilized for stripping overburden, digging trenches, and loading materials onto transport vehicles. The growing global demand for minerals and resources, driven by economic development and industrialization, has led to increased investments in mining operations, thereby boosting the demand for excavators. Moreover, advancements in excavator technology, including automation and remote operations, are improving safety and efficiency in mining operations. The shift towards more sustainable mining practices is also influencing the design and operation of excavators, pushing manufacturers to develop equipment that minimizes environmental impacts.

Forestry:

In the forestry sector, excavators are increasingly used for land clearing, tree removal, and site preparation. Their versatility enables them to perform various tasks in challenging terrains, making them invaluable for forestry operations. The growing demand for timber and forest products is driving the need for efficient and effective land management practices. Excavators equipped with specialized attachments, such as grapples and mulchers, can operate effectively in forestry applications, ensuring efficient material handling without damaging surrounding vegetation. As emphasis on sustainable forestry practices rises, excavators are being integrated into environmentally friendly land management strategies, further solidifying their role in the forestry industry.

Agriculture:

Excavators are increasingly being utilized in agriculture for various tasks, such as land preparation, excavation of irrigation canals, and soil handling. Their ability to operate in diverse terrains and adapt to several attachments makes them suitable for agricultural applications. The modernization of farming practices and the push towards mechanization are contributing to the rising demand for excavators in the agricultural sector. As farmers seek to improve productivity and efficiency, the adoption of excavators for tasks traditionally performed by manual labor is on the rise. Furthermore, the integration of technology in agricultural excavators, such as GPS guidance and precision farming capabilities, is enhancing their effectiveness in agricultural operations.

Utilities:

Utilities, including water, electricity, and telecommunications, are another significant application area for excavators. They are essential for tasks such as trenching for pipeline installation, cable laying, and maintenance of utility lines. The ongoing expansion and upgrading of utility infrastructure, driven by urbanization and population growth, have led to increased demand for excavators in this sector. Moreover, excavators are employed in emergency response situations, such as repairing damaged utility lines after natural disasters. The growing need for efficient and reliable utility services is promoting the use of advanced excavators that can operate in confined spaces and challenging conditions, ensuring minimal disruption to surrounding areas.

By Distribution Channel

Direct Sales:

Direct sales remain a prominent distribution channel for excavators, where manufacturers sell their equipment directly to end-users, including construction companies, mining operations, and government agencies. This channel allows manufacturers to build strong relationships with customers and tailor their offerings to meet specific needs. Direct sales also provide buyers with the opportunity to receive customized solutions and support, ensuring they select the right equipment for their applications. The direct engagement between manufacturers and end-users helps in understanding market demands and trends, leading to the development of more efficient and innovative excavators. As the construction and mining sectors continue to expand, direct sales are expected to maintain a significant share of the distribution channel landscape.

Equipment Dealers:

Equipment dealers play a vital role in the distribution of excavators, acting as intermediaries between manufacturers and end-users. They provide a broad range of excavators from various manufacturers, allowing customers to compare options and make informed decisions. Equipment dealers often offer additional services such as financing options, maintenance, and repair services, which enhance the overall customer experience. This distribution channel is particularly appealing to small and medium-sized enterprises that may not have the resources to purchase excavators directly from manufacturers. With the continuous growth in construction and infrastructure projects, equipment dealers are expected to maintain their importance in the supply chain for excavators.

Rental Companies:

The rental market for excavators has been gaining significant traction, particularly among small contractors and businesses that require access to modern machinery without the burden of ownership costs. Rental companies provide flexible options for customers to lease excavators for short-term projects or specific tasks, allowing them to manage their equipment needs efficiently. This distribution channel is beneficial in fluctuating market conditions where contractors may face uncertainty regarding long-term equipment demand. The growing preference for renting over purchasing is driven by factors such as lower capital investment, maintenance responsibility, and the ability to access the latest technology. As the trend towards renting construction equipment continues, rental companies are poised to play an increasingly pivotal role in the excavator market.

Online Retailers:

Online retailers are emerging as a significant distribution channel for excavators, as digitalization transforms the way construction equipment is purchased. E-commerce platforms provide customers with the convenience of browsing and comparing different models, reading reviews, and making informed purchasing decisions from the comfort of their offices or homes. Online retailers often have lower overhead costs, allowing them to offer competitive pricing and attractive financing options. As more businesses embrace digital solutions, the online retail channel is expected to grow, catering to a diverse customer base that includes small contractors, DIY enthusiasts, and large construction firms. The rise of this distribution channel aligns with the global trend towards e-commerce and the increasing reliance on digital tools in the construction industry.

Auctions:

Auction houses have become an alternative distribution channel for excavators, providing a platform for buyers to acquire used or surplus equipment at potentially lower prices. Auctions attract a diverse range of bidders, from contractors looking for cost-effective options to larger companies seeking to expand their fleets without incurring significant expenses. The auction process offers transparency and competitive bidding, often resulting in favorable prices for buyers. Moreover, equipment auctions can help manufacturers and rental companies dispose of excess inventory and older models efficiently. As the market for used equipment strengthens, auctions are expected to remain an essential channel for excavators, particularly during economic fluctuations when budget constraints drive businesses to seek more economical solutions.

By Region

The global excavator equipment market exhibits notable variations across different regions. In North America, the market is characterized by a strong demand for advanced excavators driven by ongoing infrastructure projects and a robust construction sector. The North American excavator market is expected to exhibit a CAGR of approximately 4.5% from 2025 to 2035, supported by increased investments in public infrastructure and the need for equipment upgrades. In contrast, the Asia Pacific region is projected to dominate the market due to rapid urbanization, robust economic growth, and significant infrastructure investments in countries like China and India. The Asia Pacific excavator market is expected to account for over 40% of the global market share, driven by a surge in construction activities and government initiatives aimed at improving infrastructure.

Europe represents another vital market for excavators, with a focus on technological advancements and sustainable practices. The European excavator market is anticipated to grow steadily, driven by a shift towards more eco-friendly machinery and increased demand for construction equipment in renewable energy projects. The Latin American region is experiencing growth due to rising construction activities in countries like Brazil and Mexico, although challenges such as economic fluctuations may impact market momentum. The Middle East and Africa are also witnessing growth, particularly in the construction sector, as measures are taken to enhance infrastructure, although geopolitical factors may create uncertainties in project execution. Overall, the regional dynamics of the excavator market reflect distinct growth opportunities and challenges that will shape market development in the coming years.

Opportunities

The excavator equipment market presents numerous opportunities for growth and innovation, particularly through technological advancements. One significant opportunity lies in the integration of automation and telematics in excavators. Manufacturers are increasingly focusing on developing smart excavators that can be remotely controlled and monitored, providing real-time data on machine performance and operational metrics. This technological shift not only enhances efficiency and productivity but also improves safety on construction sites, as operators can access valuable information without being physically present in hazardous environments. Additionally, the growing trend towards sustainability and eco-friendly practices presents opportunities for manufacturers to innovate and produce excavators that use cleaner, more efficient fuel sources and incorporate features that reduce environmental impact. As demand for sustainable construction practices rises, companies that prioritize innovation in this area are likely to gain a competitive edge.

Another notable opportunity in the excavator market is the increasing focus on rental services. With many small and medium-sized enterprises seeking to minimize capital expenditures, the popularity of renting equipment instead of purchasing it outright is on the rise. This trend is prompting rental companies to expand their fleets and offer a wider range of excavators to meet diverse customer needs. Furthermore, the rise of construction projects in emerging markets presents significant opportunities for growth. As countries in regions like Asia Pacific and Africa enhance their infrastructure, the demand for excavators is expected to soar. Manufacturers that strategically position themselves in these growing markets, through partnerships and localized production, can capitalize on these burgeoning opportunities and establish a strong foothold in the industry.

Threats

Despite the promising growth of the excavator equipment market, several threats loom on the horizon that could potentially hinder its expansion. One of the primary threats is the fluctuation in raw material prices, which can adversely affect manufacturing costs and profit margins for excavator producers. As the prices of steel and other essential materials fluctuate, manufacturers may struggle to maintain competitive pricing while ensuring quality and performance. Additionally, geopolitical tensions and trade disputes can disrupt supply chains, leading to delays in production and delivery, as well as uncertainty in pricing. These factors may deter investment in new projects and limit the demand for excavators, affecting overall market growth. Furthermore, the increasing emphasis on automation and the rise of digital technologies may also pose a threat to traditional excavator manufacturers that are slow to adapt to the changing landscape. Companies that fail to embrace innovation and invest in new technologies risk losing market share to more agile competitors that can better meet evolving customer demands.

Furthermore, the excavator market is also subjected to regulatory challenges and compliance requirements, particularly concerning environmental standards and safety regulations. As governments around the world implement more stringent regulations to curb emissions and promote sustainable practices, excavator manufacturers may face increased costs associated with developing compliant products. The need to continuously invest in research and development to ensure compliance can strain resources and impact profitability. Additionally, the growing trend towards electric and hybrid equipment introduces further challenges for traditional diesel-powered excavator manufacturers as they navigate the transition to more eco-friendly alternatives. Companies that do not adapt to these regulatory changes and shifting market preferences may find themselves at a competitive disadvantage, underscoring the need for proactive strategies and investment in innovation.

Competitor Outlook

• Caterpillar Inc.
• Komatsu Ltd.
• Hitachi Construction Machinery Co., Ltd.
• Volvo Construction Equipment
• JCB Ltd.
• CASE Construction Equipment
• Bobcat Company
• Terex Corporation
• Doosan Infracore
• Wacker Neuson SE
• Liugong Machinery Co., Ltd.
• Manitou Group
• Yanmar Co., Ltd.
• New Holland Construction
• SANY Group Co., Ltd.

The competitive landscape of the excavator equipment market is characterized by the presence of several major players, each vying for market share through innovation and strategic initiatives. Companies such as Caterpillar and Komatsu are at the forefront, offering a wide range of excavators equipped with advanced technology and superior performance capabilities. These industry leaders are investing heavily in research and development to enhance their product offerings and address the evolving demands of customers. Additionally, they are focusing on expanding their global presence through strategic partnerships and acquisitions, enabling them to tap into emerging markets and diversify their portfolios effectively. The competition extends beyond product quality; companies are increasingly competing on service offerings, including maintenance, financing, and rental options, to provide comprehensive solutions to customers.

Furthermore, regional players are also making significant strides in the excavator market. Companies like JCB, Volvo Construction Equipment, and Hitachi are not only competing on a global scale but are also adapting their products to meet specific regional demands. For instance, JCB has established a strong presence in the United Kingdom and Europe, while SANY Group is making notable inroads in the Asia Pacific region with its competitively priced excavators. As manufacturers strive to enhance operational efficiency, many are embracing digital technologies, including telematics and IoT solutions, to optimize machine performance and improve customer engagement. The growing emphasis on sustainability is prompting some companies to invest in the development of electric and hybrid excavators, positioning themselves as leaders in eco-friendly equipment solutions.

In conclusion, the excavator equipment market is poised for notable growth, driven by increasing demand across various sectors and ongoing technological advancements. As companies navigate the competitive landscape, those that prioritize innovation and sustainability will be well-positioned to capitalize on emerging opportunities. Major players like Caterpillar, Komatsu, and JCB are expected to continue leading the market, while regional players and newcomers also seek to establish their presence. As the market evolves, the ability to adapt to changing customer preferences, regulatory requirements, and industry trends will be critical for success in the excavator equipment space.

• 1 Appendix

  • 1.1 List of Tables
  • 1.2 List of Figures

• 2 Introduction

  • 2.1 Market Definition
  • 2.2 Scope of the Report
  • 2.3 Study Assumptions
  • 2.4 Base Currency & Forecast Periods

• 3 Market Dynamics

  • 3.1 Market Growth Factors
  • 3.2 Economic & Global Events
  • 3.3 Innovation Trends
  • 3.4 Supply Chain Analysis

• 4 Consumer Behavior

  • 4.1 Market Trends
  • 4.2 Pricing Analysis
  • 4.3 Buyer Insights

• 5 Key Player Profiles

  • 5.1 JCB Ltd.
    • 5.1.1 Business Overview
    • 5.1.2 Products & Services
    • 5.1.3 Financials
    • 5.1.4 Recent Developments
    • 5.1.5 SWOT Analysis
  • 5.2 Komatsu Ltd.
    • 5.2.1 Business Overview
    • 5.2.2 Products & Services
    • 5.2.3 Financials
    • 5.2.4 Recent Developments
    • 5.2.5 SWOT Analysis
  • 5.3 Manitou Group
    • 5.3.1 Business Overview
    • 5.3.2 Products & Services
    • 5.3.3 Financials
    • 5.3.4 Recent Developments
    • 5.3.5 SWOT Analysis
  • 5.4 Bobcat Company
    • 5.4.1 Business Overview
    • 5.4.2 Products & Services
    • 5.4.3 Financials
    • 5.4.4 Recent Developments
    • 5.4.5 SWOT Analysis
  • 5.5 Caterpillar Inc.
    • 5.5.1 Business Overview
    • 5.5.2 Products & Services
    • 5.5.3 Financials
    • 5.5.4 Recent Developments
    • 5.5.5 SWOT Analysis
  • 5.6 Doosan Infracore
    • 5.6.1 Business Overview
    • 5.6.2 Products & Services
    • 5.6.3 Financials
    • 5.6.4 Recent Developments
    • 5.6.5 SWOT Analysis
  • 5.7 Wacker Neuson SE
    • 5.7.1 Business Overview
    • 5.7.2 Products & Services
    • 5.7.3 Financials
    • 5.7.4 Recent Developments
    • 5.7.5 SWOT Analysis
  • 5.8 Yanmar Co., Ltd.
    • 5.8.1 Business Overview
    • 5.8.2 Products & Services
    • 5.8.3 Financials
    • 5.8.4 Recent Developments
    • 5.8.5 SWOT Analysis
  • 5.9 Terex Corporation
    • 5.9.1 Business Overview
    • 5.9.2 Products & Services
    • 5.9.3 Financials
    • 5.9.4 Recent Developments
    • 5.9.5 SWOT Analysis
  • 5.10 SANY Group Co., Ltd.
    • 5.10.1 Business Overview
    • 5.10.2 Products & Services
    • 5.10.3 Financials
    • 5.10.4 Recent Developments
    • 5.10.5 SWOT Analysis
  • 5.11 New Holland Construction
    • 5.11.1 Business Overview
    • 5.11.2 Products & Services
    • 5.11.3 Financials
    • 5.11.4 Recent Developments
    • 5.11.5 SWOT Analysis
  • 5.12 CASE Construction Equipment
    • 5.12.1 Business Overview
    • 5.12.2 Products & Services
    • 5.12.3 Financials
    • 5.12.4 Recent Developments
    • 5.12.5 SWOT Analysis
  • 5.13 Liugong Machinery Co., Ltd.
    • 5.13.1 Business Overview
    • 5.13.2 Products & Services
    • 5.13.3 Financials
    • 5.13.4 Recent Developments
    • 5.13.5 SWOT Analysis
  • 5.14 Volvo Construction Equipment
    • 5.14.1 Business Overview
    • 5.14.2 Products & Services
    • 5.14.3 Financials
    • 5.14.4 Recent Developments
    • 5.14.5 SWOT Analysis
  • 5.15 Hitachi Construction Machinery Co., Ltd.
    • 5.15.1 Business Overview
    • 5.15.2 Products & Services
    • 5.15.3 Financials
    • 5.15.4 Recent Developments
    • 5.15.5 SWOT Analysis

• 6 Market Segmentation

  • 6.1 Excavator Equipment Market, By Application
    • 6.1.1 Construction
    • 6.1.2 Mining
    • 6.1.3 Forestry
    • 6.1.4 Agriculture
    • 6.1.5 Utilities
  • 6.2 Excavator Equipment Market, By Product Type
    • 6.2.1 Crawler Excavators
    • 6.2.2 Mini Excavators
    • 6.2.3 Wheeled Excavators
    • 6.2.4 Dragline Excavators
    • 6.2.5 Suction Excavators
  • 6.3 Excavator Equipment Market, By Distribution Channel
    • 6.3.1 Direct Sales
    • 6.3.2 Equipment Dealers
    • 6.3.3 Rental Companies
    • 6.3.4 Online Retailers
    • 6.3.5 Auctions

• 7 Competitive Analysis

  • 7.1 Key Player Comparison
  • 7.2 Market Share Analysis
  • 7.3 Investment Trends
  • 7.4 SWOT Analysis

• 8 Research Methodology

  • 8.1 Analysis Design
  • 8.2 Research Phases
  • 8.3 Study Timeline

• 9 Future Market Outlook

  • 9.1 Growth Forecast
  • 9.2 Market Evolution

• 10 Geographical Overview

  • 10.1 Europe - Market Analysis
    • 10.1.1 By Country
      • 10.1.1.1 UK
      • 10.1.1.2 France
      • 10.1.1.3 Germany
      • 10.1.1.4 Spain
      • 10.1.1.5 Italy
  • 10.2 Asia Pacific - Market Analysis
    • 10.2.1 By Country
      • 10.2.1.1 India
      • 10.2.1.2 China
      • 10.2.1.3 Japan
      • 10.2.1.4 South Korea
  • 10.3 Latin America - Market Analysis
    • 10.3.1 By Country
      • 10.3.1.1 Brazil
      • 10.3.1.2 Argentina
      • 10.3.1.3 Mexico
  • 10.4 North America - Market Analysis
    • 10.4.1 By Country
      • 10.4.1.1 USA
      • 10.4.1.2 Canada
  • 10.5 Excavator Equipment Market by Region
  • 10.6 Middle East & Africa - Market Analysis
    • 10.6.1 By Country
      • 10.6.1.1 Middle East
      • 10.6.1.2 Africa

• 11 Global Economic Factors

  • 11.1 Inflation Impact
  • 11.2 Trade Policies

• 12 Technology & Innovation

  • 12.1 Emerging Technologies
  • 12.2 AI & Digital Trends
  • 12.3 Patent Research

• 13 Investment & Market Growth

  • 13.1 Funding Trends
  • 13.2 Future Market Projections

• 14 Market Overview & Key Insights

  • 14.1 Executive Summary
  • 14.2 Key Trends
  • 14.3 Market Challenges
  • 14.4 Regulatory Landscape

Segments Analyzed in the Report

The global Excavator Equipment market is categorized based on

By Product Type

• Crawler Excavators
• Mini Excavators
• Wheeled Excavators
• Dragline Excavators
• Suction Excavators

By Application

• Construction
• Mining
• Forestry
• Agriculture
• Utilities

By Distribution Channel

• Direct Sales
• Equipment Dealers
• Rental Companies
• Online Retailers
• Auctions

By Region

• Asia Pacific
• North America
• Europe
• Latin America
• Middle East & Africa

Key Players

• Caterpillar Inc.
• Komatsu Ltd.
• Hitachi Construction Machinery Co., Ltd.
• Volvo Construction Equipment
• JCB Ltd.
• CASE Construction Equipment
• Bobcat Company
• Terex Corporation
• Doosan Infracore
• Wacker Neuson SE
• Liugong Machinery Co., Ltd.
• Manitou Group
• Yanmar Co., Ltd.
• New Holland Construction
• SANY Group Co., Ltd.