Which Heavy Equipment Stock is a Better Buy? From StockNews

© Reuters. Greenland Technologies vs. Caterpillar: Which Heavy Equipment Stock is Better to Buy?

The resumption of various industrial and construction activities has increased the demand for heavy machinery and related engines and parts. Hence we think Caterpillar (CAT) and Greenland Technologies (GTEC) should benefit from this. But which of these stocks is better to buy now? Read More CAT, headquartered in Peoria, Illinois, develops, manufactures and sells construction, mining, forestry machinery, diesel and engines, industrial gas turbines and diesel-electric locomotives worldwide. The company also makes other related parts for its equipment, provides financing and insurance, and sells its products through dealers. In comparison, GTEC, based in Hangzhou, China, develops and produces transmission and drive train systems for industrial trucks, electric vehicles, electric industrial vehicles and robotic load carriers internationally. The company offers drive products for forklift trucks that are used in manufacturing and logistics applications such as factories, workshops, warehouses, logistics centers, shipyards and seaports.

The increasing demand for advanced, autonomous and electrical machines, motors and accessories due to the resumption of economic activity and huge renovation expenditures is driving the growth of the heavy machinery market. The passing of a bipartisan infrastructure bill worth $ 1 trillion by Congress should also spur the growth of heavy machinery manufacturers in the coming months. The global heavy machinery market is expected to grow at an annual growth rate of 3.2% to $ 620.39 billion through 2027. So both CAT and GTEC should benefit.

While the CAT share has risen 10.1% in the year to date, GTEC has risen 36.6%. GTEC is a clear winner, up 106% versus CAT’s 15.9% in terms of last year’s performance. But which of these stocks is now the better choice? Let’s find out.

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