Construction Machinery Manufacturers NAICS 333120

Jul 7, 2025 - Deere, Volvo Announce US Expansions

• John Deere and Volvo Construction Equipment (Volvo CE) recently announced large-scale expansions of their US-based manufacturing footprints, according to Engineering News-Record. Deere & Co. will invest $20 billion over 10 years into its U.S. operations, including new and expanded facilities in Missouri, North Carolina, Tennessee, and Iowa. Volvo CE is allocating part of a $261-million global investment to enhance its Shippensburg, Pennsylvania excavator and wheel loader manufacturing site with new assembly lines, automation, and employee training. Both companies said their expansion plans would improve logistics, bolster US manufacturing, reduce supply chain vulnerabilities, and improve responsiveness to regional markets.
• The total value of construction starts increased by 13.2% in May compared to April, according to Dodge Construction Network. Nonbuilding construction starts rose 20.5%, as strong gains in environmental public works, utility, and miscellaneous nonbuilding projects offset weaker highway and bridge starts. Residential starts increased 2% month-over-month in May; single-family starts dropped 5%, while multifamily starts grew by 15%. Nonresidential building starts rose 18% in May, led by commercial and institutional projects. Dodge Construction Network associate director of forecasting Sarah Martin said, “Construction starts rebounded across most sectors in May, bouncing back from a sluggish April. However, year-to-date figures remain below last year’s pace. Ongoing uncertainty around trade policy and the economic outlook is likely to keep construction activity in check in the months ahead.”

• New single-family home sales fell 13.7% month-over-month and were down 6.3% year-over-year in May 2025, according to the US Census Bureau. May’s total new home sales reached 623,000 units. According to Dow Jones estimates, Wall Street analysts had expected May sales to reach 695,000. In recent quarterly reports, some homebuilders said high interest rates and weaker consumer confidence weighed on demand. As sales of new homes remain soft, inventories of unsold homes are increasing. At the end of May, there were 507,000 new homes for sale, up 15% compared to May 2024. The number of unsold new homes in May was the highest since the summer of 2022, after the Federal Reserve began increasing interest rates.
• Demand for building design services improved in May over the prior month, but architectural billings remain soft, according to a June report by the American Institute of Architects (AIA). The AIA’s Architecture Billing Index (ABI) rose to 47.2 in May 2025 from April’s reading of 43.2. Any reading of 50 or more indicates growth in architectural billings. The score for new project inquiries rose to 51.4 in May compared to 48.0 in April, and the index for the value of new design contracts increased from 43.3 to 45.9. The AIA’s Chief Economist, Kermit Baker said, “Business conditions remained sluggish nationwide in May, with nonresidential construction activity continuing to decline in several major metro areas. Firms across all specializations reported declining billings this month. However, the pace of decline slowed at firms specializing in multifamily residential projects. These, along with institutional work, are likely to be the first to return to growth when conditions begin to improve.”