Yanmar Compact Equipment targets rapid growth in North America and Europe

The CEO of Yanmar Compact Equipment says the company has hugely expanded its business outside of Japan since 2015 and is targeting further growth in growing markets such as North America and Europe.
CONEXPOCON/AGG 2023 / March 15, 2023
Yanmar says nearly 53% of the global compact equipment market is in North America
Yanmar says nearly 53% of the global compact equipment market is in North America

The compact equipment manufacturer’s CEO Giuliano Parodi said that Japan accounted for 54% of its total US$0.7bn turnover in 2015, while the figure for North America was 11%. EMEA (Europe, Middle East and Asia) was 23% of the group’s revenues in 2015.

Fast forward to 2021, and 28% of Yanmar’s total annual turnover of US$1.3bn revenue was coming from Japan, compared with 25% from North America, and 34% from EMEA. The North American share had more than doubled.

By 2027 Yanmar Compact Equipment is targeting annual revenue of US$2.5bn with 41% coming from North America, 30% from EMEA, and just 18% from Japan.

Parodi says that North America accounted for 52. 9% of the global addressable compact equipment market in 2022, compared with 30.5% in EMEA and 8.8% in Japan.

The company has made a number strategic acquisitions to build its business in North America and Europe. It now has a manufacturing presence in Grand Rapids in the US, Crailsheim in Germany, and Saint-Dizier in France, in addition to Chikugo in Japan.

Yanmar Compact Equipment has this week launched a new line of four compact track loaders: TL65RS, TL75VS, TL80VS and TL100VS. These new units enhance Yanmar’s position as a comprehensive compact equipment solutions provider, says the company.

For more information on companies in this article