Heavy equipment giants like Caterpillar ($67.1B revenue, 13% global share) and Komatsu ($56.5B) show that scaling supply chains is about more than assets. Their moats — dealer networks, aftermarket services, data platforms, and sustainable machinery — mirror the challenges faced by global port operators. From mining and agriculture to construction and civil engineering, these companies prove that resilience comes from integrated systems, customer lock-in, and recurring revenue, not just size.

Hitachi Construction Machinery remains a top player in excavators and mining equipment, generating $9.9 billion in 2024 revenue. But compared to Caterpillar, Komatsu, and Deere, its structural disadvantages—smaller dealer networks, thinner margins, and reliance on partnerships—show the limits of scale without a defensible moat.

CNH Industrial may not have the brand recognition of Caterpillar or Deere, but with $23.1 billion in 2024 revenue, it is one of the largest equipment makers in the world. By bundling machinery with financing, insurance, and aftermarket services, CNH creates customer stickiness and resilience across agriculture and construction. Its strategy highlights how integration, not just scale, drives long-term growth.

Liebherr is not just another heavy equipment manufacturer—it is a decentralized industrial ecosystem. With €14.9 billion in 2024 revenue, operations spanning construction, mining, aerospace, and maritime cranes, and a unique family-owned governance model, Liebherr offers a rare playbook for resilience in global supply chains. Its decentralized structure, diversified portfolio, and commitment to sustainability make it one of the most quietly influential players in logistics and heavy industry.

Volvo Construction Equipment is not the largest in its sector, but it is shaping the future of heavy machinery. With $12.2 billion in 2024 revenue, a growing lineup of electric machines, and deep integration with Volvo Group’s logistics ecosystem, Volvo CE is proving that sustainability can be a competitive moat. From compact loaders to articulated haulers, the company is targeting civil construction and infrastructure projects increasingly defined by emissions mandates.

Komatsu has become the world’s second-largest heavy equipment maker, with $54.5 billion in 2024 revenue and an 11 percent global share. Its moat is built not only on size but on resilience: 60+ global plants, market dominance in mining automation, and a telematics platform embedded in over 1.4 million machines worldwide. For industries from construction to mining, Komatsu offers a model of distributed scale that supply chain leaders can learn from.

From a 1,900+ dealer network to a precision agriculture data ecosystem, Deere’s moat blends physical infrastructure with predictive supply chain control. The result? 60% U.S. large tractor market share, 40%+ margins on parts, and uptime farmers trust.

John Deere isn’t just a tractor company—it’s a logistics powerhouse.