World’s Top 10 Crane Manufacturers

The global demand for cranes has been rising exponentially over the past few years as nations roll out big-dollar infrastructure development programmes to support 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.

Top 10 crane manufacturers

Here are the top 10 crane brands in the world, according to International Cranes and Specialized Transport’s ICm20 ranking.

1. XCMG | China

Xuzhou Heavy Machinery (XCMG) ranks first in the list of top 10 crane manufacturers in the world after growing its sales by 74% to $5.66 billion in 2020 from $3.11 billion in 2018.

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.

2. Zoomlion | China

Chinese multinational Zoomlion Heavy Industry Science and Technology Co., Ltd is the world’s second-largest crane manufacturer after growing its crane sales by 58% to $5.5 billion in 2020 from $3.3 billion in 2018.

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.

3. Liebherr | Germany

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.

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The company also boasts the longest telescopic boom in the world, which extends fully to 100 metres. 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 2018.

4. Konecranes | Finland

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 in 2018.

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

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

5. ZPMC | China

ZPMC Shanghai Zhenhua Heavy Industries Co. Ltd. is a world leader in the 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.

6. Sany | China

Sany Heavy Industry Co. Ltd emerged as the sixth-largest crane manufacturer in the world after increasing its sales by 57% to $3.43 billion in 2020, up from $2.09 billion in 2018.

Based in Changsha, China, Sany is also globally known as the top producer of concrete machinery. 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.

7. Cargotec | Finland

Cargotec Oyj is a Finnish company 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 list of top 10 crane manufacturers in the world.

8. Tadano | Japan

Tadano Limited is Japan’s leading maker of cranes and aerial work platforms, with 2020 sales of $1.61 billion, which is a significant decrease from $2.13 billion in 2018.

Based in Takamatsu, Japan, the company is named after its founder, Masuo Tadano, who began his career as a steel fabricator in 1919.

In 1948 Tadano established his namesake company and set up a factory to produce cargo-handling equipment.

9. Manitowoc Cranes | United States

Manitowoc Cranes is the only U.S. crane manufacturer on this list. It maintained its global ranking of nine while declining from $1.83 billion in sales in 2018 to $1.44 billion in 2020.

The company fabricates five brands of cranes under the names Manitowoc, National Crane, Shuttlelift, Potain, and Grove.

Manitowoc Cranes is one of the largest lenders of raising equipment to the development business around the world, having supplied lattice-boom crawler cranes.

10. Palfinger | Austria

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 Bergheim, Austria-based company sold $1.12 billion worth of cranes in 2020, up from $1.69 billion in 2018.

Palfinger sold $1.12 billion worth of cranes in 2020, up from $1.69 billion in 2018.

Which country makes cranes?

China emerged as the world’s leading crane exporter in 2021 with $3.35 billion, followed by Germany ($2.06 billion), Italy ($1.36 billion), Japan ($1.05 billion), and Austria ($904 million).

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