Overview of the biggest crane makers in the world.

The global demand for cranes has been rising exponentially over the past few years as nations rollout big-dollar infrastructure development programmes to support the fast-rising industrialization and urbanization.

This has created a huge market for producers of various types of cranes, especially those serving China and the U.S. – the world’s top two construction markets.

Here are the top 10 crane manufacturers in the world:

Xuzhou Heavy Machinery (XCMG) now ranks first in the list of top 10 crane manufacturing companies in the world after growing its sales 74% to $5.66 billion in 2020 from $3.11 billion the previous year.

XCMG, which was previously ranked fourth in the ICM20 Index of top crane manufacturers, displaced German equipment giant Liebherr – which has topped the list for many years.

Headquartered in Xuzhou, Jiangsu, China, the state-owned company that was founded in 1943 specializes in the manufacture of excavators, loaders, cranes, rollers, and graders among other heavy machines.

Chinese multinational Zoomlion Heavy Industry Science and Technology Co., Ltd is officially second in the list of top 10 crane manufacturers after growing its crane sales 58% to $5.5 billion in 2020 from $3.3 billion in 2019.

Zoomlion manufactures a range of heavy machinery including excavators, bulldozers, access equipment, concrete-related products and drilling rigs.

Founded in 1992, the company sold $9.4 billion worth of heavy machinery in 2020, up from $6.27 billion in 2019 on strong performance in the Chinese market.

Zoomlion is now fifth in the list of world’s top 10 heavy equipment manufacturers.

Liebherr Group is a popular supplier of heavy equipment in Europe.

The German company, which was founded in 1949, produces a wide range of excavators, cranes, wheeled loaders, telescoping handlers, and dozers.

Liebherr’s LTM 11200 is arguably the most powerful mobile crane ever built.

The company also boasts the longest telescopic boom in the world, which spans fully to 100 meters. The machine is set on a double cab truck and can lift 1200 metric tons.

Liebherr Group, which is still owned entirely by the Liebherr family, sold $4.3 billion worth of cranes in 2020 – down from $4.7 billion in 2019.

Based in Hyvinkää, Finland, Konecranes is the fourth largest crane maker in the world with 2020 sales of $3.68 billion down from $3.84 billion the previous year.

The company, which specializes in making and servicing cranes, was ranked second in the 2020 index of top 10 crane manufacturers.

Konecranes is a world-leading group of Lifting Businesses™, serving a wide range of clients including manufacturing industries, shipyards, sea ports and terminals.

ZPMC Shanghai Zhenhua Heavy Industries Co. Ltd. is a world leader in manufacturing and delivery of port equipment with over 20 overseas offices – dominating the ship-to-shore and yard gantry container crane market.

Like its Chinese peers, the company grew its sales to $3.4 billion in 2020 up from $2.5 billion the previous year – an impressive 40% growth.

This helped it to rise to the fifth position in the top 10 crane manufacturers index.

Sany Heavy Industry Co. Ltd is now the sixth largest crane manufacturer in the world after growing its sales 57% to $3.43 billion in 2020 up from $2.09 billion in 2019.

Based in Changsha, China, Sany is famous for its concrete machinery, for which it is globally ranked number one. It is also a major supplier of excavators and wheel loaders.

Sany operates 25 manufacturing bases worldwide, with its overseas plants located in the United States, Germany, India, and Brazil.

In China, the company has built six industrial parks in Beijing, Changsha, Shanghai, Shenyang, Kunshan and Urumchi.

Cargotec Oyj is a Finnish corporation that specializes in the manufacture of cargo-handling machinery for ships, seaports, terminals and local distribution.

In October 2020, Cargotec and Konecranes disclosed they had agreed to a merger, with the deal expected to close in the fourth quarter of 2021.

Cargotec’s 2020 revenues stood at $2.52 billion down from $2.93 billion, which saw it drop two places in the top 10 crane manufacturers list.

Tadano Ltd. is the largest Japan-based manufacturer of cranes and aerial work platforms, with sales of $1.61 billion in 2020 down from $2.13 billion in 2019.

The company, which is based in Fujitsuka-cho, Takamatsu, Japan, is named after its founder Masuo Tadano who started as a steel fabricator in 1919.

In 1948, he founded Tadano Ltd. and set up a plant to produce cargo handling equipment. The company has since expanded into the global market and established a solid worldwide position in the field of hydraulic mobile cranes.

Manitowoc Cranes, the only U.S. crane manufacturer in the top 10 list has retained its position as the ninth largest crane maker in the world despite its sales shrinking to $1.44 billion in 2020, down from $1.83 billion in 2019.

The company produces five brands of cranes, including Manitowoc, National Crane, Shuttlelift, Potain, and Grove.

Manitowoc Cranes is one of the world’s largest suppliers of lifting equipment for the construction industry, including lattice-boom crawler cranes.

Palfinger AG is an Austrian manufacturer of hydraulic lifting, loading and handling systems, especially known for its range of cranes.

With 150 models and a market share of 35%, the company that is headquartered in Bergheim, Austria, is without a doubt one of the top crane makers in the world.

Palfinger sold $1.12 billion worth of cranes in 2020, up from $1.69 billion in 2019.

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