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Rising demand for advanced, autonomous, and electric machinery, engines, and supplies, owing to the resumption of economic activities and huge spending on renovation, is driving the heavy equipment market’s growth. Also, the passage of a $1 trillion bipartisan infrastructure bill by Congress should drive growth for heavy machinery manufacturing companies in the coming months. The global heavy equipment market is expected to grow at a 3.2% CAGR to $620.39 billion by 2027. So, both CAT and GTEC should benefit.
While CAT’s shares have gained 10.1% in price year-to-date, GTEC has surged 36.6%. GTEC is a clear winner with 106% gains versus CAT’s 15.9% in terms of their past year’s performance. But which of these stocks is a better pick now? Let us find out.
