NAICS 423810 Quarterly Industry Report
Construction and Mining (except Oil Well) Machinery and Equipment Merc
Comprehensive industry research for valuation professionals, business owners, buyers, and lenders
NAICS Code: 423810Sector: Wholesale Trade (42)Updated: Q1 2026
About This Report
This Fair Market Value industry report for NAICS 423810 draws on data from the U.S. Census Bureau[5] economic profiles, Bureau of Labor Statistics[6] employment surveys, and SBA size standard publications[7]. Our research team tracks construction equipment shipments, mining activity levels, and equipment rental trends to provide valuation context for construction equipment wholesale operations. Updated quarterly, each data point is sourced to its originating federal or institutional database.
Industry Snapshot
Key metrics for the construction and mining (except oil well) machinery and equipment merc industry.
Industry Definition & Overview
Construction and Mining (except Oil Well) Machinery and Equipment Merchant Wholesalers (NAICS 423810) encompasses establishments primarily engaged in the merchant wholesale distribution of specialized machinery, equipment, and related parts used in construction, mining (except oil well), and logging activities. Product categories include excavators, bulldozers, loaders, graders, cranes, paving equipment, drilling rigs (non-oil), crushing and screening equipment, forestry machinery, and scaffolding.
The construction equipment distribution channel operates through dealer networks where distributors maintain large equipment inventories, parts departments, and field service operations. Equipment rental has become an increasingly important revenue stream alongside traditional sales. According to the U.S. Census Bureau[5], about 2,629 businesses operated in this industry across 4,727 locations with over $7.6 billion in annual payroll. Oil well machinery is excluded and classified under NAICS 423830.
Dealer territories are typically defined by manufacturer franchise agreements, giving individual dealers exclusive distribution rights for specific equipment brands within geographic boundaries. Parts and service revenue provide recurring income streams that smooth the cyclical nature of new equipment sales. Used equipment remarketing, rental fleet management, and equipment financing programs are standard dealer capabilities. Telematics and fleet management technology have added data-driven services to the dealer value proposition, helping construction companies monitor equipment use and maintenance needs across their fleets.
What's Included in This Industry
- Excavator and backhoe wholesale distribution
- Bulldozer and crawler tractor wholesale operations
- Wheel loader and skid steer wholesale distribution
- Crane and lifting equipment wholesale operations
- Paving and road construction equipment wholesaling
- Mining machinery and equipment wholesale distribution (non-oil)
- Forestry and logging equipment wholesale operations
- Scaffolding and temporary structure wholesale distribution
- Crushing and screening equipment wholesale operations
- Construction equipment parts wholesale distribution
NAICS Classification Hierarchy
| Level | Description | Code |
|---|---|---|
| Sector | Wholesale Trade | 42 |
| Subsector | Merchant Wholesalers, Durable Goods | 423 |
| Industry Group | Machinery, Equipment, and Supplies Merchant Wholesalers | 4238 |
| NAICS Industry | Construction and Mining (except Oil Well) Machinery and Equipment Merchant Wholesalers | 42381 |
| National Industry | Construction and Mining (except Oil Well) Machinery and Equipment Merchant Wholesalers | 423810 |
Related NAICS Codes
| Code | Description | Relationship |
|---|---|---|
| 423820 | Farm and Garden Machinery and Equipment Merchant Wholesalers | Farm and garden machinery merchant wholesalers distribute agricultural equipment rather than the construction and mining machinery covered here |
| 423830 | Industrial Machinery and Equipment Merchant Wholesalers | Industrial machinery merchant wholesalers distribute manufacturing and oil well equipment rather than the construction-specific machinery in this classification |
| 423840 | Industrial Supplies Merchant Wholesalers | Industrial supplies merchant wholesalers distribute consumable industrial products rather than the capital equipment covered by this construction machinery code |
| 333120 | Construction Machinery Manufacturing | Construction machinery manufacturing produces the excavators, loaders, and other construction equipment distributed through dealer wholesale channels |
| 333131 | Mining Machinery and Equipment Manufacturing | Mining machinery and equipment manufacturing produces underground and surface mining equipment distributed through specialized dealer networks |
| 333132 | Oil and Gas Field Machinery and Equipment Manufacturing | Oil and gas field machinery manufacturing produces related heavy equipment, though oil well machinery distribution falls under a separate NAICS classification |
Geographic Concentration
Top states by share of national establishments.
| # | State | % Est. | Total Est. |
|---|---|---|---|
| 1 | Texas | 9.7% | 471 |
| 2 | California | 8.0% | 387 |
| 3 | Florida | 6.7% | 327 |
| 4 | Illinois | 4.0% | 194 |
| 5 | Pennsylvania | 3.8% | 185 |
| 6 | Ohio | 3.7% | 181 |
| 7 | Georgia | 3.7% | 181 |
| 8 | Washington | 2.7% | 132 |
| 9 | Tennessee | 2.7% | 131 |
| 10 | New York | 2.6% | 128 |
% Of Establishments
0%
10%
Source: County Business Patterns, U.S. Census Bureau[3]
SBA Lending Summary
168
Total SBA Loans
$98.6M
Total Loan Volume
$587K
Average Loan Size
10 yrs
Average Loan Term
10.57%
Average Interest Rate
944
Jobs Supported
Source: SBA 7(a) Program Data, U.S. Small Business Administration — FY 2025[4]
Key Insight: The SBA[7] classifies Construction and Mining Machinery and Equipment Merchant Wholesalers under NAICS 423810 with a size standard of 250 employees. Many regional equipment dealers operate below this ceiling, though some multi-location dealer groups approach or exceed it. Qualifying firms can access SBA lending programs[8] for new and used equipment inventory financing, parts department expansion, service shop investments, and working capital to support the capital-intensive equipment dealer model. Eligible businesses can access SBA 7(a) loans[9] for working capital, equipment, and acquisition financing, while 504 loans[10] support major fixed-asset purchases including real estate and heavy machinery.
Top SBA Lenders
| # | Lender | Loans | Volume | Avg Loan |
|---|---|---|---|---|
| 1 | Newtek Bank, National Association | 24 | $52.2M | $2.2M |
| 2 | Wells Fargo Bank National Association | 16 | $11.5M | $719K |
| 3 | Northeast Bank | 32 | $9.0M | $280K |
| 4 | Climate First Bank | 8 | $8.0M | $1.0M |
| 5 | GBC International Bank | 8 | $4.0M | $500K |
Frequently Asked Questions
Common questions about this industry.
What types of businesses are classified under NAICS 423810?
NAICS 423810 covers merchant wholesalers distributing construction and mining machinery including excavators, bulldozers, loaders, cranes, paving equipment, mining rigs, forestry equipment, and related parts. These include manufacturer-authorized equipment dealers, multi-line rental and sales operations, and specialty mining equipment distributors. Per the U.S. Census Bureau[5], about 2,629 businesses operated across 4,727 locations.
How is NAICS 423810 structured within the classification system?
This code belongs to Industry Group 4238 (Machinery, Equipment, and Supplies Merchant Wholesalers), Subsector 423 (Merchant Wholesalers, Durable Goods), and Sector 42 (Wholesale Trade). It shares Industry Group 4238 with 423820 (farm equipment), 423830 (industrial machinery), 423840 (industrial supplies), 423850 (service establishment equipment), and 423860 (transportation equipment).
What is the SBA size standard for NAICS 423810?
The SBA[7] sets the size standard at 250 employees. Businesses below this threshold qualify as small businesses for federal contracting preferences and SBA-backed financing programs.
Which NAICS codes are most closely related to 423810?
Farm equipment wholesalers (423820) distribute agricultural machinery separately. Industrial machinery wholesalers (423830) handle manufacturing and oil well equipment. Construction machinery manufacturers (333120) supply the products. Per Census Bureau NAICS references[11], the oil well machinery exclusion is the key boundary between 423810 and 423830.
What industries interact most with construction equipment wholesalers?
Site preparation contractors (238910) and highway builders (237310) are major customers. Mining operations (212321) purchase crushing and loading equipment. Per Bureau of Labor Statistics[6] data, construction employment and infrastructure spending levels drive demand for construction equipment distribution.
What specific activities are included in NAICS 423810?
Activities include distributing excavators, dozers, loaders, cranes, pavers, mining equipment, forestry machinery, and scaffolding. Dealers maintain parts inventories, service shops, rental fleets, and used equipment remarketing operations. Per Census Bureau definitions[5], oil well machinery and equipment is excluded and classified under 423830.
Can construction equipment wholesalers access SBA loans?
Yes. Dealers with fewer than 250 employees qualify for SBA loan programs[8] including 7(a) loans for inventory financing and working capital, 504 loans for dealership facilities and service shops, and microloans for smaller equipment investments. New and used equipment floor plan financing is a critical capital requirement for dealers.
Where are construction equipment wholesalers concentrated in the United States?
Dealer locations follow construction and mining activity patterns. Texas, California, Florida, and the Southeast support heavy construction equipment distribution. Mining-focused dealers concentrate in coal, aggregate, and hard rock mining regions. Major metropolitan areas and interstate highway corridors host dealer locations serving infrastructure and commercial construction markets across the country.
Sources & References
Government datasets and editorial sources used in this report.
- [1]U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages bls.gov
- [2]U.S. Census Bureau, Economic Census census.gov
- [3]U.S. Census Bureau, County Business Patterns census.gov
- [4]U.S. Small Business Administration, SBA 7(a) Loan Program Data data.sba.gov
- [5]U.S. Census Bureau census.gov
- [6]Bureau of Labor Statistics bls.gov
- [7]SBA size standard publications sba.gov
- [8]SBA lending programs sba.gov
- [9]SBA 7(a) loans sba.gov
- [10]504 loans sba.gov
- [11]Census Bureau NAICS references census.gov
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