Most businesses are in a state of flux: nothing remains the same. As the market changes and consumer demand shifts, having the right machinery for your construction business helps you stay competitive in your industry and improve your profits.
What construction business owner doesn’t look for ways to increase cash flow?
To help you make better purchasing decisions, we put together a list of the top construction heavy equipment manufacturers and the benefits of financing your equipment purchases.
Top 10 heavy equipment manufacturers: construction
Find here some of the best heavy equipment manufacturers to buy the machinery you need for your construction business in the US.
1. Caterpillar (CAT)
Specialized in: construction and mining equipment
This American Fortune 100 corporation is one of the best heavy equipment manufacturers. Caterpillar has a product line of over 300 machines such as asphalt pavers, dozers, material handlers, and loaders. Its excavators and loaders continue to be the company’s top-selling products.
A CAT excavator ranges in price from $100,000 to $850,000+ depending on whether you purchase a small or large model.
See this price list to review the typical price you’ll pay for CAT products which vary per dealer.
Specialized in: press machines and thermoelectric
Komatsu was founded in 1917 and established in America in 1970. This heavy equipment manufacturer is headquartered in Japan and sells through its distributor network located throughout the U.S.
Their product line includes trucks, fork lifts, wheel loaders, motor graders, and other heavy equipment. Excavators bring in the highest revenue for the company ranging in price from $25,000 to $900,000 or more.
Specialized in: digging, loading, carrying, and breaking machinery
With excavators the bulk of Hitachi‘s sales, the company also produces loaders, recycle machines, compaction equipment, and dump trucks.
Hitachi has manufacturing facilities in North America, Asia, Europe, Japan, Africa, and other countries.
Expect to pay on average between $100,000 and $1 million for an excavator depending on the model, size, and the machinery’s power rating.
Specialized in: hydraulic and excavation machinery
With wheel loaders, articulated haulers, cranes, and other heavy equipment to choose from, the line of Volvo heavy equipment machinery helps you maximize profit.
The company offers a QuickFit Insurance program that guarantees engine performance for the first 12,000 hours on most Volvo products.
Volvo began selling electric compact wheel loaders and compact excavators in February 2019 and also announced it will no longer produce these machines in diesel engines.
Find a dealer in your area to find the best heavy construction machinery and pricing to meet the needs of your business.
Specialized in: lifting and material handling solutions
The heavy equipment manufacturer produces a variety of cranes, material handlers, trucks, and other machinery. Terex‘s mission is to provide solutions for their customers and to be the most customer-responsive company in the industry.
They have a vast catalog, as the company has a long history of acquisitions of more than 50 brands since it was founded in 1933 (originally Euclid Company).
Used cranes go between $75,000 to $750,000+ depending on the age, size, specs, and features.
Specialized in: Earthmoving, mining, mobile cranes, tower cranes, concrete technology
Founded in 1949, Liebherr offers a wide range of new and used equipment with cranes being one of the company’s most sought-after products. The North American plant headquartered in Newport News, Virginia produces material handling, cranes, and earthmoving equipment for the construction industry.
Due to the differences in pricing and model specifications, you should contact one of Liebherr’s locations in the United States to learn more about their machinery. They sell new and used equipment.
7. John Deere
Specialized in: agricultural, construction, and forestry machinery
A selection of loaders, backhoes, dozers, graders, and dump trucks, John Deere offers a “dealer-delivered support solution” approach to maximize productivity and lower operating costs.
Offering both new and certified pre-owned equipment as well as construction attachments, John Deere specializes in technology solutions to promote efficiency.
Use this listing to find a product and a dealer to help your construction business work smarter, not harder.
Specialized in: industrial & construction equipment
The third-largest heavy equipment manufacturer in the world, Sany makes equipment recognized for its value and durability. Since its founding in 1989, the company built into its equipment more standard features and an “industry-leading” warranty as compared to competitors.
You can choose from a product lineup of telehandlers, cranes, forklift trucks, motor graders, and other machinery. The company reinvests 5 – 7% of its revenue into research and development.
This product catalog lists each model’s specs to include dimensions and operation ranges.
Specialized in: construction equipment
Hyundai‘s heavy equipment division was founded in 1972 and takes pride in its pioneering spirit to build machinery that performs. In addition to loaders, rollers, breakers, and excavators, Hyundai produces special equipment such as material handlers equipped with an outrigger and grappler for on and off-road applications.
One of Hyundai’s ongoing goals is to grow and strengthen their network of dealers.
Specialized in: farm equipment, construction equipment, tractors
Founded in 1890, Kubota is based in Osaka, Japan with distributors located in the U.S. and more than 130 countries.
The company takes pride in making precision-engineered equipment to meet job demands. Kubota has a full line of construction equipment such as loaders, backhoes, and excavators. Customers can build a new Kubota model based on their needs, by selecting options such as open or closed cab and other features, and choosing an extended warranty plan.
Other Heavy Equipment Manufacturers
|Podemcrane||Cranes and lifting|
|Optimas GmbH||Paving and concrete|
|Fiori Group||Concrete batching vehicles and dumpers|
|Zoomlion||Construction machinery and sanitation equipment|
|Doosan||Excavators, loaders, and diesel engines|
|BOMAG||Machines for all areas of road construction|
It’s possible to buy used equipment with low to medium hours and save thousands.
How to finance construction machinery? With equipment financing!
Having the proper equipment on the job site is a game-changer but the benefits don’t end there. Your employees are thankful to have the equipment to finish jobs quicker and more efficiently. And they’re glad you buy machinery from the best heavy equipment manufacturers.
But you may not have the funds to make that purchase a reality. But that’s what equipment financing is for: so you can buy the equipment your construction business needs. You may not realize that heavy equipment financing provides other immediate advantages.
Improved cash flow
You won’t disturb existing capital on hand when you finance the purchase of heavy equipment. That money is safely tucked away for other expenditures or emergency fund usage. By getting a loan, you can also forecast your cash flow better because you know exactly how much you spend each month to finance the equipment.
Because using heavy equipment can reduce costs (labor, tools, etc.), you can increase earnings immediately. By having more time and resources, you’re in a position to take on more construction projects.
Contact your tax professional to see how much of the Section 179 Tax Deduction you qualify for when financing equipment from these heavy equipment manufacturers. Ask about other expenses that may be tax-deductible such as the total interest paid on the loan.
Increase your credit score
By taking on more debt and paying back the loan on time, you should be able to increase your business credit score. Likewise, by keeping your credit history in tip-top condition, lenders see you as more creditworthy. They may offer better terms and conditions or extend more credit to you in the future for additional purchases.
Keep your collateral
In most instances, the equipment you purchase when taking out a loan is considered collateral. Therefore, there’s no need for the lender to require other assets to secure the loan.
Buying the right equipment for your business
As you can see, there are plenty of high-quality heavy equipment manufacturers to choose from. These companies have been around for decades and also provide support and parts when you need to upgrade or repair the equipment.
When you finance the right equipment with a business loan for your construction company, you take steps toward business growth.
A construction business loan enables you to spread your payments over a period of time to fit within your budget. As stated earlier, you don’t need to dip into your savings account when you finance your heavy equipment purchase.
You probably wonder if you can afford to buy new equipment from these heavy equipment manufacturers.
There’s no need to guess.
You can use this business loan calculator to calculate the payments of a loan to buy equipment and know within a few seconds how much you’ll pay each month in principal and interest.
Camino Financial offers tools like this along with our newsletter and ongoing educational posts to enforce our motto, “No Business Left Behind.” We’re serious about providing everything you need to succeed in business because we truly care about our clients.