IW U.S. 500: Top Construction and Agricultural Machinery Companies (slideshow)

Nov. 13, 2023
Here are the top ten largest manufacturers of construction and agricultural equipment—tractors, excavators, and irrigation systems—in the 2022 IW U.S. 500.

Farming is a foundation of life in the U.S., and industrial machinery has been making it more efficient since Eli Whitney invented the cotton gin in 1793. Today, advanced agriculture is made possible by the use of highly-sophisticated tractors, balers, irrigation systems and freight vehicles. Click through this slideshow to see the top ten largest manufacturers by 2022 revenue of agricultural and construction equipment in the U.S. today.

2023 IW U.S. 500 Coverage

IW 500 RankCompany NamePrimary Industry2022 Revenue in Millions (unless otherwise stated)Revenue Growth2022 Net Income in Millions (unless otherwise stated)Profit Margin
22Caterpillar Inc. (NYSE:CAT)Construction Machinery and Heavy Transportation Equipment$59,42716.6%$6,70511.3%
27Deere & Company (NYSE:DE)Agricultural and Farm Machinery$52,56319.5%$7,13113.6%
47PACCAR Inc (NasdaqGS:PCAR)Construction Machinery and Heavy Transportation Equipment$28,82022.5%$3,01210.4%
50Cummins Inc. (NYSE:CMI)Construction Machinery and Heavy Transportation Equipment$28,07416.9%$2,1517.7%
106AGCO Corporation (NYSE:AGCO)Agricultural and Farm Machinery$12,65113.6%$8907.0%
147Westinghouse Air Brake Technologies Corporation (NYSE:WAB)Construction Machinery and Heavy Transportation Equipment$8,3626.9%$6337.6%
149Oshkosh Corporation (NYSE:OSK)Construction Machinery and Heavy Transportation Equipment$8,2824.1%$1742.1%
225The Toro Company (NYSE:TTC)Agricultural and Farm Machinery$4,51514.0%$4439.8%
227Terex Corporation (NYSE:TEX)Construction Machinery and Heavy Transportation Equipment$4,41813.7%$3006.8%
230Valmont Industries, Inc. (NYSE:VMI)Construction and Engineering$4,34524.1%$2515.8%
298The Greenbrier Companies, Inc. (NYSE:GBX)Construction Machinery and Heavy Transportation Equipment$2,97870.4%$471.6%
312Allison Transmission Holdings, Inc. (NYSE:ALSN)Construction Machinery and Heavy Transportation Equipment$2,76915.3%$53119.2%
327Wabash National Corporation (NYSE:WNC)Construction Machinery and Heavy Transportation Equipment$2,50238.8%$1124.5%
336REV Group, Inc. (NYSE:REVG)Construction Machinery and Heavy Transportation Equipment$2,332-2.1%$150.7%
342Arcosa, Inc. (NYSE:ACA)Construction and Engineering$2,24310.1%$24611.0%
352Titan International, Inc. (NYSE:TWI)Agricultural and Farm Machinery$2,16921.9%$1768.1%
368The Manitowoc Company, Inc. (NYSE:MTW)Construction Machinery and Heavy Transportation Equipment$2,03318.2%-$124-6.1%
376Trinity Industries, Inc. (NYSE:TRN)Construction Machinery and Heavy Transportation Equipment$1,97730.4%$603.0%
418Alamo Group Inc. (NYSE:ALG)Construction Machinery and Heavy Transportation Equipment$1,51413.4%$1026.7%
429Federal Signal Corporation (NYSE:FSS)Construction Machinery and Heavy Transportation Equipment$1,43518.3%$1208.4%
453Astec Industries, Inc. (NasdaqGS:ASTE)Construction Machinery and Heavy Transportation Equipment$1,27516.3%$00.0%
484The Shyft Group, Inc. (NasdaqGS:SHYF)Construction Machinery and Heavy Transportation Equipment$1,0273.6%$373.6%
495Commercial Vehicle Group, Inc. (NasdaqGS:CVGI)Construction Machinery and Heavy Transportation Equipment$9821.0%-$22-2.2%

Data provided by S&P Global Market Intelligence.

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