New financed construction equipment sales fell slightly in 2025, a sign of market normalization following a sales surge in 2024 and buyer cautiousness amid ongoing inflation and high interest rates.
More than 151,000 new financed construction machines were sold during the year, a 2.2% decline from 2024, according to Fusable’s latest EDA equipment finance data.
Cat, Kubota, Bobcat and Deere firmly maintained their positions as the top four manufacturers of equipment, with Komatsu reclaiming its No. 5 position from Case. Takeuchi, Volvo and New Holland held onto the 7-9 positions year over year, and Hitachi edged out JCB for the 10th position.
Here are the top 15 construction equipment manufacturers in the U.S. in 2025 by new financed sales:
| Company | 2025 Ranking | 2024 Ranking | 2023 Ranking |
| Cat | 1 | 1 | 1 |
| Kubota | 2 | 2 | 2 |
| Bobcat | 3 | 3 | 3 |
| Deere | 4 | 4 | 4 |
| Komatsu | 5 | 6 | 5 |
| Case CE | 6 | 5 | 6 |
| Takeuchi | 7 | 7 | 7 |
| Volvo CE | 8 | 8 | 8 |
| New Holland | 9 | 9 | 9 |
| Hitachi | 10 | 11 | 13 |
| JCB | 11 | 10 | 11 |
| Toro | 12 | 16 | 14 |
| Sany | 13 | 12 | 10 |
| Wacker Neuson | 14 | 14 | 15 |
| Yanmar | 15 | 15 | 12 |
Strong demand continued in the Southern U.S. with buyers in Texas, Florida, North Carolina and Georgia snapping up the most machines, followed by California in the West.
EDA tracks new and used financed sales of compact utility loaders, skid steers, compact track loaders, mini and full-sized excavators, standard and LGP dozers, wheel loaders, backhoes, articulated haul trucks, single- and double-drum vibratory compactors, motor graders, scrapers and tracked and wheeled asphalt pavers and concrete pavers.
The data is compiled from state UCC-1 filings on financed construction equipment. All figures include sales, lease and rental. EDA continually updates this data as information comes in from each state. As such, these numbers may have fluctuated since this data was pulled in late March.
Top Types of Construction Equipment
When looking at top equipment types, in terms of new financed machines, less expensive compact equipment — such as compact track loaders, mini excavators and increasingly popular compact utility loaders (also referred to as stand-on mini track loaders) — tends to dominate the chart.
Of the top five product categories, only compact track loaders and compact utility loaders saw sales gains in 2025. Mini excavator, full-sized excavator and wheel loader sales declined from the previous year.
Depending on machine type, financed machines represent 40% to 75% of the total number of equipment of that type sold in the United States. While machines can also be bought by cash or letter of credit, buyers of higher-ticket items such as large dozers generally tend to finance.
Here are the top equipment types, in terms of number of new machines financed, in 2025:
| Product Category | Units Financed | Percent of Total Units | Percent Change YOY |
| Compact Track Loader | 54,982 | 36.3% | +1.6% |
| Mini Excavator | 33,033 | 21.8% | -5.4% |
| Excavator | 15,672 | 10.4% | -4.1% |
| Wheel Loader | 11,305 | 7.5% | -8.7% |
| Compact Utility Loader | 10,935 | 7.2% | +1.9% |
Top Financed New Construction Equipment in the U.S. in 2025
Following the overall sales trend, 12 of the top 15 financed new machines in the U.S. overall were compact or mini track loaders:
- Kubota SVL75-3 compact track loader
- Cat 255 compact track loader
- Cat 265 compact track loader
- Deere 325G compact track loader
- Bobcat MT100 compact utility loader
- Bobcat T66 compact track loader
- Kubota SVL97-2 compact track loader
- Kubota SVL97-3 compact track loader
- Deere 333 P-Tier compact track loader
- Bobcat T770 compact track loader
- Kubota SCL1000 compact utility loader
- Cat 275 compact track loader
- Deere 35 P-Tier mini excavator
- Cat 305 CR mini excavator
- Kubota KX057-5 mini excavator
We kept our expanded 15-model ranking this year to take a closer look at some of the new entrants and biggest movers, as well as previous generation models exiting the charts.
Kubota’s SVL75-3 maintained its stronghold as the top-selling model of construction equipment in 2025. To get a closer look at the popular model, check out our video below:
Cat’s 255, which debuted in October of 2023, climbed five spots from the previous year to the No. 2 position as the 259D3 it replaces fell off our charts. Get one contractor’s impressions of the machines in our video below:
The 265, which replaced both the 279D3 and 289D3, also proved popular, moving from 11th to 3rd. Take a walkaround tour in the video below:
Kubota unveiled its next-generation SVL97-3 compact track loader at World of Concrete 2025. It quickly infiltrated the market with sales of the dash-3 version just shy of those of the dash-2 model, as they appeared back-to-back on the charts. Get an inside look in our video below:
The company also debuted its KX040-5 mini excavator at the show. Had sales of the dash-4 and dash-5 been combined, the model would’ve ranked 10th. Given that, we expect to see the mini move into the charts in 2026.
Deere’s 333 P-Tier, released in June 2024, also entered our list for the first time in the 9th spot, knocking the 333G it replaced off the list. Explore the redesigned model here:
Top Construction Equipment Manufacturer By State
Caterpillar edged out Kubota as the top seller of new financed equipment by state, expanding its footprint from 17 states in 2024 to 24 states in 2025.
Kubota held strong in 12 states, while Deere and Bobcat each led in 7 (with Deere’s total including the District of Columbia), and Case claimed 1.
