11 Largest Heavy Equipment Manufacturers in the World

4. AB Volvo 

Revenue (FY2023): $50,881,076,310.40 

AB Volvo is a Swedish MNC in the heavy equipment manufacturing industry, founded in April 1927 by Assar Gabrielsson and Gustaf Larson. As of 2024, the company is headquartered in Gothenburg, Sweden. AB Volvo primarily produces, distributes, and sells trucks, buses, and construction equipment. Other than this, through its many subsidiaries, the company also supplies marine and industrial drive systems and financial services. As of the most recent available data, AB Volvo employs over 100,000 people and operates in almost 190 markets globally. For Fiscal Year 2023, AB Volvo generated a revenue of over $50.8 billion despite the geopolitical turmoil, continued supply chain disturbances, and inflation.