World’s Top 10 Crane Manufacturers

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.

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.

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

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 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 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 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 is 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 2018.

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.

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 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 2018.

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.

9. Manitowoc Cranes | United States

Manitowoc Cranes, the sole U.S. crane manufacturer in this roster, has managed to maintain its rank as the ninth-largest crane producer globally, even though its sales decreased to $1.44 billion in 2020, down from $1.83 billion in 2018.

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.

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 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 2018.

Which country makes cranes?

In 2021, the world’s leading exporters of cranes were China ($3.35 billion), Germany ($2.06 billion), Italy ($1.36 billion), Japan ($1.05 billion), and Austria ($904 million).

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