MARKET INSIGHT – Construction Machinery Manufacturing
NACIS 333120 | $34,588,790,000
by Joe Jackson
Marketing & Events Assistant, PMPA
Published March 1, 2022
The construction machinery manufacturing industry is expected to grow significantly in 2022 and beyond due to increasing demand for equipment as well as the passing of a new Infrastructure Bill.
Top 5 Companies
- Caterpillar Inc., IL
- Astec Industries Inc., TN
- Hanson Aggregates East LLC, NC
- Vermeer Manufacturing Co., IA
- Charles Machine Works Inc., OK
- Sales to the construction machinery manufacturing industry makes up approximately 7% of our precision turned products manufacturing industry’s sales in a typical year.
- If precision machining products are only 1 % of this industry’s spending, that would equate to $170 million in sales opportunity in NAICS 333120 for our precision machining shops.
- The construction machinery manufacturing industry is one of the most concentrated markets the precision machining industry serves. Of the 1,748 companies verified in this NAICS Code, the top two companies make up over 50% of the sales in this industry.
- The construction machinery manufacturing industry spends roughly $17 billion on materials, components, supplies, minerals and machinery.
- The parts that our precision machining shops manufacture provide essential functionality such as fuel injection, hydraulics, and power takeoff to the construction equipment that builds the infrastructure critical to our daily lives.
Source: U.S. Census, NAICS.com