LAS VEGAS, March 5, 2026, 12:21 PST
- Caterpillar says its dealer network may need to hire 38,000+ technicians worldwide by end-2028
- CEO Creed ties the push to rising infrastructure demand and a tighter skilled-labor market
- New diesel engines and service tools aim to cut downtime as job sites get more complex
Caterpillar (CAT.N) said its global dealer network may need to hire more than 38,000 technicians by the end of 2028, underscoring how hard it is getting to staff and maintain heavy equipment fleets. The company flagged the gap this week around CONEXPO-CON/AGG in Las Vegas. 1
That matters now because downtime is expensive. When a loader or excavator sits waiting for a repair, contractors lose hours and equipment makers risk parts-and-service sales that tend to hold up when machine demand cools.
The squeeze is also arriving as job sites add more electronics, sensors and software. Basic wrench work still matters, but diagnosing faults can look more like troubleshooting a network than fixing a hose.
“Access to skilled technicians and operators is a critical issue for our industry,” Chief Executive Joe Creed said. Caterpillar said its Building the Future Workforce Initiative will launch in spring 2026 and will sit alongside a five-year, $25 million innovation challenge it rolled out at CES. The firm also named Tom March of England, representing Finning UK, as the first Global Dealer Technician Challenge champion, and Brian Hayden of the United States as winner of the third Global Operator Challenge, with a $10,000 cash prize or an equivalent trip. 2
The training push is part marketing, part logistics. Dealers need technicians not just to keep machines running, but to install updates, manage connected tools and handle more sophisticated engines and aftertreatment systems.
On the product side, Caterpillar Industrial Power Systems said it is using CONEXPO, which runs March 3-7, to show a new high-horsepower Cat C3.6 diesel engine rated up to 173 hp and a new C13D platform, both designed to meet EU Stage V and U.S. EPA Tier 4 Final off-road emissions rules. It also highlighted services such as connectivity and condition monitoring, VisionLink fleet management and remanufactured engine options, with senior vice president Steve Ferguson saying “internal combustion engines remain the dominant power solution across global jobsites.” 3
Caterpillar shares were down about 4.7% at $697.74 as of 10:14 a.m. PST, according to Reuters market data. 4
In a separate regulatory disclosure, The Vanguard Group reported beneficial ownership of 46,835,122 Caterpillar shares, about 10.06% of the company, in an amended Schedule 13G filed on Thursday. A Schedule 13G is a form large investors use to disclose their stakes in U.S.-listed companies. 5
Rivals such as Deere and Japan’s Komatsu also depend on trained operators and technicians, and all of them are trying to make machines easier to run and maintain as sites automate and digitize.
But the plan hinges on execution. If construction demand softens and contractors delay purchases, dealers may pull back hiring, and some of the investment in training and new service programs could take longer to pay off.
