In December 2025, KHL, a well-known information group in the global construction machinery industry, released the 2025 ICm20 “Ranking of the Top Twenty Crane Manufacturers in the World”.
The entry threshold for this year’s list is US$189 million, which has increased from US$181 million last year.
Total revenue was US$32.664 billion (approximately RMB 231 billion), down 2.7% year-on-year. This was the sixth year-on-year decline in the past ten years.
More than half of the companies (11 companies) will have lower revenue in 2024 than in 2023.
A crane is a multi-action lifting machinery used for vertical lifting or vertical lifting and horizontal movement of heavy objects. It is also called a crane, an aerial crane, and a crane. It is widely used in construction, port logistics, industrial production, wind power installation and other fields. The main products include Tower Crane, Crawler Crane, and Truck Crane.
Crane), all terrain crane (ATC), tire crane (RT), electric overhead crane (EOT), etc.
There are no “new faces” on this year’s list, but the ranking has changed a lot.
America’s Link-Belt swaps places with Germany’s Senebogen.
Italy’s Fassi and Japan’s Kobelco Cranes each rose one place, while Hitachi Sumitomo Heavy Machinery Construction Cranes (HSC) fell to seventeenth place.
Fasi Company, founded in 1955, is one of the world’s largest hydraulic crane manufacturers. With truck-mounted cranes (crane trucks) as its core, it has more than 60 models and 30,000 configurations, covering multiple tonnages and multiple application scenarios. Its products are sold to more than 60 countries and regions.
Its cranes are widely used in construction, oil and gas, logistics, maritime, railway and other fields. Many products such as F2150Ra crane are often used with well-known heavy truck brands such as Scania, Volvo and Iveco.
Cargotec’s ranking fell from third to seventh due to major business adjustments.
This is a famous Finnish industrial enterprise group. It was split from KONE on June 1, 2005. It owns three major brands: HIAB, Kalmar, and MacGegor, and provides a variety of cargo handling solutions and related services.
In March 2023, Cargotec launched its core business spin-off plan and split its two major business units, Kalmar and Hiab, into two independent listed companies.
In July last year, Kalmar successfully landed in the Finnish capital market, focusing on providing comprehensive heavy material handling equipment and services for ports, terminals, distribution centers, manufacturing and heavy logistics fields.
In November of the same year, Cargotec sold its cargo handling business MacGregor to the European investment company Triton, retaining only Hiab and changing its name to reflect this business adjustment.
Its products include Hiab truck-mounted cranes, Jonsered forestry cranes, Moffet rear-mounted forklifts, etc.
China has 4 companies on the list, all of which are among the top ten. They are Zhenhua Heavy Industry ranked third, Xuzhou Heavy Machinery ranked fourth, Zoomlion Heavy Industry ranked sixth, and Sany Heavy Industry ranked ninth. Among them, Sany Heavy Industry is the only Chinese company on the list that has achieved revenue growth.
Although the revenue of Xuzhou Heavy Machinery and Zoomlion declined, they still maintained their respective positions.
Zhenhua Heavy Industries (ZPMC) revenue dropped slightly by 1%, rising two places to third.
This is a listed company under China Communications Construction Company. It was founded in 1992 and has 8 production bases in Shanghai and Jiangsu. Its products have entered 107 countries and regions, covering about 300 terminals. It has ranked first in the global market share of quay cranes for 24 consecutive years. It is the world’s largest port machinery equipment manufacturer, complete equipment transporter, automated terminal system solution provider, and one of the world’s three largest crane ship equipment manufacturers.
Liebherr has retained its first place, reaching the top 11 times in the past 13 years, with sales reaching US$6.143 billion (approximately RMB 43.4 billion) in 2024, a year-on-year increase of 17.46%, further expanding its lead over second-placed Konecranes.
The products of this German company include tower cranes, LTM mobile cranes (with lifting capacities from 35 tons to 1200 tons), LR crawler cranes, LTC compact cranes, LTF telescopic truck-mounted cranes, MK mobile construction cranes, LTR telescopic boom crawler cranes, LRT rough terrain cranes, LG lattice boom cranes, etc.
In the past year, Liebherr has launched new products such as the LTM 1300-6.4 crane (with a new cab design and a new generation LICCON3 control system), the LTM 1400-6.1 crane (a 400-ton six-axle all-terrain crane), and the LTC 1050-3.1E hybrid crane (maximum lifting capacity of 50 tons, maximum lifting height of 48 meters, maximum working radius of 39 meters).
