The global crane market reached a value of US$ 46.8 Billion in 2021. Cranes are heavy construction machinery used to lift and move heavy loads horizontally. They are employed across industrial settings due to their powerful strength and mechanical advantages. Cranes operate through hydraulic and internal combustion engine systems that provide superior mechanical strength and lifting capabilities. However, modern cranes can coordinate simple systems to attain complex lifting tasks across building infrastructure and construction projects.
As per the analysis by IMARC Group, the top crane companies are focusing on designing cranes that can efficiently fulfill various industrial needs, such as performing complex lifting and lowering tasks in hazardous environments. They are also making continuous improvements and enhancing the fuel efficiency of cranes, which helps reduce their operational costs. Moreover, several key manufacturers are launching special-purpose cranes that can easily remove overburden from tunneling or shaft excavation in hydel power projects, which is creating a positive market outlook. On account of these factors, the market value is expected to reach US$ 64.2 Billion by 2027, exhibiting a CAGR of 5.42% during 2022-2027.
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Top Worldwide Manufacturers in the Crane Industry
Headquarters: Helsinki, Finland
Cargotec Oyj provides material handling equipment for loading and unloading goods through core brands Kalmar, Hiab, and MacGregor. The company helps businesses move goods efficiently and safely by optimizing cargo flows. It also offers products and services that make global trade faster, smarter, and more sustainable. Cargotec’s strategy’s breakthrough objectives concern climate and profitable growth, aiming to reduce the CO2 emissions of its value chain by 1 million tons by 2024.
Headquarter: Hyvinkää, Finland
Konecranes is a global manufacturer of cranes, forklifts, trucks, load manipulators, and other heavy-duty and light lifting equipment under its own name and brands such as SWF, Sanma, R&M, and Verlinde. It is also a global leader in maintenance, inspection, and repair services for cranes and machine tools. It serves various industries, including automotive, general manufacturing, intermodal and rail, mining, nuclear, oil and gas, paper, ports, power, and steel.
Liebherr-International Deutschland GmbH
Headquarter: Kirchdorf, Switzerland
Liebherr-International Deutschland GmbH designs manufacture and supplies construction machinery globally. The company provides services such as the supply of spare parts and components, logistics, rental, and hospitality. It also deals with a wide variety of products, including tower cranes, wheeled loaders, truck cranes, hydraulic rope excavators, hydraulic excavators, pipe-laying machines, dumper trucks, crawler tractors, and loaders, concrete mixing plants, and truck mixer models.
The Manitowoc Company, Inc.
Headquarter: Milwaukee, United States
The Manitowoc Company (MTW) was founded in 1947 as Burg Manufacturing in Nebraska and merged into National Crane Corp. in 1963. It was established as a strong, respected global organization throughout the world, promoting innovation and velocity to better compete in an ever-changing world. It specializes in lifting equipment such as tower cranes, mobile telescopic cranes, lattice-boom crawler cranes, and boom trucks. It is also used in construction and mining operations, petrochemicals, utilities, and energy projects.
Headquarters: Westport, United States
Terex Corporation makes a variety of cranes, aerial platforms, and materials processing equipment. It provides a diverse and comprehensive product line backed by years of innovation, technical expertise, and sound quality. From articulating to telescopic booms, the company makes aerial lifts used in industrial and construction overhead jobs. It also makes cranes and specialty equipment such as wood processing, biomass, and recycling.
Headquarters: Xuzhou, China
XCMG Construction Machinery Corporation Limited primarily manufactures heavy machinery and equipment used mainly by the construction industry. The company has stood at the forefront of the Chinese construction machinery industry and developed into one of the domestic industry’s largest and most competitive enterprise groups with complete product varieties and series. It manufactures bulldozers, concrete mixers, and cranes, except industrial plant overhead and truck-type cranes, dredging machinery, pavers, and power shovels. The company also offers elevating platforms, ship cranes and capstans, aerial work platforms, and automobiles wrecker hoists.
American Crane and Equipment Co.
Headquarters: Eastern PA, United States
American Crane & Equipment Co. is primarily engaged in the wholesale distribution of construction or mining cranes, excavating machinery and equipment, power shovels, road construction and maintenance machinery, tractor-mounting equipment, and specialized machinery and equipment used in the construction, mining, and logging industries. It has one of the largest floor-type horizontal boring mills in the Northeastern United States and an onsite 200-ton load testing tower.
Badger Equipment Company (Manitex International, Inc.)
Headquarters: Winona, United States
In 2009, Manitex International Inc. acquired Badger Equipment Company for US$ 3 Million. Badger Equipment Company is a leading provider of engineered lifting solutions. The company serves a broad range of customers, including commercial, military and governmental, through a dealer network.
Broderson Manufacturing Corp.
Headquarters: Lenexa, United States
Broderson Manufacturing Corp. designs manufactures and markets industrial and rough terrain cranes. The company manufactures cranes of different carrying capacities and renders parts and maintenance services. It is dedicated to providing the industry with the best cranes and services. The leading models IC-80 and IC-200 are continuously growing based on performance and the ability to exceed the expectations of even the most demanding customers.
IHI Construction Machinery
Headquarters: Tokyo, Japan
IHI Construction Machinery, a Japanese manufacturer, manufactures and sells mini excavators, cranes, crawler carriers, and other construction machinery, offering top-notch products and services in Japan and abroad. The company was established as a joint venture with Koehring of the United States. Currently, they specialize in making items for energy and resources (boilers, engines, gas turbines, nuclear power plant parts, radioactive waste management) and aero engines and space (jet engines, rocket and satellite systems).
Headquarter: Lexington, United States
Link-Belt Cranes is a leader in designing, manufacturing, and selling telescopic and lattice boom cranes. With major expansion plans over the last ten years and continuous improvement philosophies, this facility has emerged as the most modern crane facility in North America. In recent decades, the company has emerged as a market leader in crane design and product quality standards by focusing on continuous improvement and employee empowerment.
Kobelco Construction Machinery Co., Ltd.
Headquarters: Tokyo, Japan
Kobelco Construction Machinery Corporation Limited manufactures hydraulic truck cranes, excavators, and fracturing nibblers. It aims to build construction machinery that is friendly to both people and the planet while featuring outstanding environmental performance. Kobelco is incorporating new technologies, such as ICT and IoT, into their existing manufacturing techniques and expertise to provide customers with thoroughly stand-out products, exclusive services, and innovative solutions.
About IMARC Group: IMARC Group is a leading market research and consulting company that offers management strategy and market research worldwide. The company has done multiple projects in the crane industry, which has enabled clients to set up and expand their businesses successfully. Some of the company’s offerings include: