What comes to mind when you think of the world’s largest industrial companies? It will likely be giants like GE, Siemens, and Bosch, but there are many other massive industrial companies that most people have never heard of.
Here is a list of the 10 largest industrial companies in the world, along with a brief overview of what they do. Who knows, maybe you’ll find your next employer on this list!
10. Ford Company – Ford Company – $127.144 billion
Ford manufactures automobiles and commercial vehicles and was famously established by Henry Ford on June 16, 1903. It has since grown to be one of the world’s most prominent car manufacturers and also encompasses its luxury brand, Lincoln. The company is headquartered in Dearborn, Michigan.
In 1909, the firm became the first to offer an affordable car, the Model T. Today, it offers a wide range of vehicles, including SUVs, trucks, and crossovers. It has also developed self-driving and electric cars. Moreover, Ford has a stake in several other companies, such as Ford Credit, Jaguar Land Rover, and the Brazilian firm, Troller.
The company has been criticized for its environmental record. It has been accused of contributing to global warming due to its production of vehicles with internal combustion engines. Additionally, it has been involved in some scandals, including the company’s use of slave labor in its supply chain.
Despite these challenges, the company remains one of the world’s largest and most pervasive brands. In 2019, it ranked as the 11th most valuable brand by Interbrand. Ford is the second-largest automaker in the United States and the fifth-largest worldwide.
9. Huawei – $129.183 billion
This company deals with mobile and fixed broadband networks. It is a multinational technology corporation based in Shenzhen, Guangdong, China.
In 1987, Ren Zhengfei, the former Deputy Regimental head, founded the Huawei Corporation. Huawei has expanded its business to provide operational services in more than 170 countries and has $129.183 billion in revenue. It is ranked as the second-largest R&D investor in the world.
Even though Huawei is thriving internationally, it has also faced some challenges, including:
- A lack of state support
- The inability of surveillance by the Chinese government on Huawei’s infrastructural equipment
- Hacks of telecom networks by Huawei
However, Huawei is considered one of the largest industrial companies and a national champion in terms of development in China. It has also received extensive support from state-owned banks.
8. Honda – $138.250 billion
Honda is a Japanese company that manufactures automobiles, motorcycles, and heavy machinery. Honda has produced more motorcycles and internal combustion engines than any other manufacturer since its inception in 1959. Every year, over 14 million internal combustion engines are produced.
The company manufactures motorcycles, mountain bikes, scooters, automobiles, engines, generators, ATVs, lawnmowers, robots, and aircraft. Honda also regularly competes in motorsports, such as Formula One and the Motorcycle Grand Prix.
Honda has invested in electric vehicles and is planning to release several hydrogen-powered vehicles soon. With a revenue of $138.25 billion, Honda ranks as the 8th largest company in the world.
7. China Railway and Engineering Group – $175.49 billion
China Railway Engineering Corporation, one of the largest industrial companies, is state-owned and was established in 1989. It falls under the State Council’s umbrella besides being a China Railway Group Limited shareholder.
The company has roots in the two bureaus. In 1950, it emerged from the design and building bureaus of the China Railway Construction Corporation. The two bureaus were subsequently combined to form China Railway Major Bridge Engineering Group.
The ministry of railways later formed the China Railway Construction Corporation in 1990, and the China Railway and Engineering Group followed suit. The company offers great construction services, such as building roads, bridges, highways, municipal facilities, and airports. The engineering group provides real estate development services, including hotel operation, construction design, and logistic support.
As of now, China Railway Group’s total revenue is $175.49 billion. Last year they made a profit of $166.08 billion, more than the 2020 revenue of $142.56 million by nearly 25%. It’s important to note that revenue and earnings are not the same. While revenue refers to the total amount generated by sales, expenses have already been accounted for with earnings. Therefore, the company’s profit is even higher considering its expenses.
6. Mercedes Benz Group – $167.386 billion
Mercedes Benz Group is a German multinational automotive corporation. Daimler AG is the parent company of Mercedes Benz Group and has its headquarters in Stuttgart, Baden-Württemberg, Germany. The group sells vehicles under Mercedes-Benz, AMG, Smart, and Maybach. The group also owns stakes in companies such as Aston Martin, Mitsubishi Motors, and KAMAZ. As of December 2019, the group employed more than 287,000 people.
The group posted €172.7 billion ($167.386 billion) in 2019 in revenue and recorded an operating profit of €2.7 billion ($2.6 billion). The group’s net income stood at €11 billion ($10.665 billion) in 2019. The Mercedes Benz Group has a strong presence in Europe, Asia Pacific, North America, and South America. The group’s vehicles are sold in more than 150 countries.
In addition to typical offerings like financing and leasing, the company also focuses on digital services, fleet management, insurance brokerage, and mobility service. The goal is to make vehicles more intelligent and connective and develop new autonomous driving technologies.
The Mercedes Benz Group has faced several challenges in recent years. These challenges include the Dieselgate scandal, trade tensions between the U.S. and China, and Brexit. However, the group has overcome these challenges and posted strong financial results in 2019.
5. Foxconn – $219.11 billion
Foxconn produces electronic goods for a wide range of consumer electronics, including iPhone, iPod, iPad, Blackberry, all Nintendo gaming consoles, Nokia phones, Sony devices, Google Pixel devices, CPU sockets, and Microsoft’s first Xbox console, to name a few. Foxconn has offices in 24 nations and 137 campuses around the world. The Longua factory is Foxconn’s largest facility.
Foxconn has faced several challenges in recent years. These challenges include employee suicides, labor unrest, and allegations of poor working conditions. However, the company has overcome these challenges and posted strong financial results in 2019.
The company’s total revenue as of 2022 stands at $219.11 billion, making it one of the largest industrial companies in the world.
It has its major market in Greater China, followed by North America, Europe, and Japan. The company plans to expand its operations in India and South America in the coming years.
4. Samsung Electronics – $250.21 billion
Samsung Electronics is a South Korean multinational electronics company. The company is headquartered in Suwon, South Korea, and was established by Lee Byung-Chul in 1969.
Samsung Electronics is the world’s largest manufacturer of smartphones, TVs, memory chips, personal computers, monitors, semiconductors, televisions, LCD panels, and home appliances such as microwaves and air conditioners.
Samsung entered the electronics industry in the mid-1970s and now has a diverse portfolio of over 80 businesses that span from consumer electronics to construction to financial services, shipbuilding, and medical care.
As of 2022 total revenue of the company is $250.21 billion. Currently, the company has a workforce of 267,937 people and operates in more than 200 countries. It has a strong presence in Asia, North America, and Europe. The company’s products are also sold in Africa and South America.
3. Toyota – $255.817 billion
Kiichiro Toyoda founded Toyota Motor Corporation in 1937. Based in Japan, the company was ranked as the world’s 10th most profitable organization as of December 2019. Not only has Toyota Motor Corporation produced more than 10 million vehicles in 2012, but they have also managed to do so while promoting the sale of hybrid vehicles worldwide.
The company sells hybrids, plug-in hybrids, all-electric vehicles, and hydrogen fuel-cell vehicles. In addition to pickup trucks, SUVs, luxury vehicles, and crossovers, they heavily invest in motorsports and manufacture buses and boats for recreational use.
The company’s activities extend far beyond the automotive industry and include space exploration, philanthropy, higher education, robotics, agricultural biotechnology, sewing machine technology, and much more.
2. Volkswagen – $250.2 billion
The German automobile manufacturing company, Volkswagen (Volkswagen Group), designs, produces, and distributes automobiles. It sells a variety of vehicles, including passenger cars, commercial trucks, motorbikes, engines, and turbomachinery. The company started in 1937 to produce affordable cars that could be mass-produced. The original Volkswagen Beetle is one of the most iconic cars in history.
The company sells its vehicles under various marques, including Audi, Bentley, Bugatti, Lamborghini, Porsche, SEAT, Skoda, and Volkswagen. The company also owns Ducati and MAN trucks. As of 2020, it is the second-largest automaker in the world by sales volume, with over 10 million vehicles sold.
By 2018, more than 4 million Volkswagens were sold in China, making it the automaker’s largest market. Volkswagen’s 2022 total revenue goal is $280.75 billion, with an expected operating profit considerably higher than the previous years.
1. Apple – $365.8 billion
The Apple Corporation is a California corporation headquartered in Cupertino. It creates and sells electronic goods, software, and web-based services. They have the most revenue of any technology company worldwide and are one of its most valuable brands.
Because of the efficiency of its production, procurement, and distribution channels, the company can release a large number of products while maintaining a small inventory of them.
In 2017, Apple launched a $1 billion initiative to promote high-tech manufacturing in the United States. As part of this venture, Apple invested $200 million in Corning, Inc., the maker of the Gorilla Glass used in iPhones. The developmental growth makes it one of the world’s largest industrial companies, with assets of $365.8 billion as of 2018. Thus, it continuously maintains its position as one of the most valuable companies in the world.
Summary of the 10 Largest Industrial Companies in the World
| Rank | Company |
|---|---|
| #1 | Apple – $365.8 billion |
| #2 | Volkswagen – $250.2 billion |
| #3 | Toyota – $255.817 billion |
| #4 | Samsung Electronics – $250.21 billion |
| #5 | Foxconn – $219.11 billion |
| #6 | Mercedez Benz Group – $167.386 billion |
| #7 | China Railway and Engineering Group – $175.49 billion |
| #8 | Honda – $138.250 billion |
| #9 | Huawei – $129.183 billion |
| #10 | Ford Company – $127.144 billion |
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