Konecranes, Terex Corporation and Liebherr-International Deutschland GmbH are Dominating the North America Crane and Hoist Market in 2020

North America Crane and Hoist Market is expected to grow with the CAGR of 4.9% in the forecast period of 2021 to 2028. The years considered for study are as mentioned below.

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North America crane and hoist market is a highly consolidated market, which includes specific number of key players as well as local players. The market has witnessed increased strategic developments owing to favourable market scenario.

The major players dealing in North America crane and hoist market are introducing advanced and customized cranes and hoists with advance features along with services. This has helped companies to maximize the sales with enhanced product portfolio.

For instance,

• In September 2020, Konecranes has launched three new products for lifting which are innovative new S-series which will use synthetic rope and S and M-series cranes which will offer real time data analysis and provide insights via Konecranes customer portal. This new launch has helped the company to expand their portfolio and strengthen their position in the market.

Konecranes is the dominating player in North America crane and hoist market. The other key players existing in the market are Terex Corporation, Liebherr-International Deutschland GmbH, The Manitowoc Company, Inc., Ingersoll Rand, Zoomlion Heavy Industry Science&Technology Co., Ltd., Columbus McKinnon Corporation, KITO CORPORATION, Tadano Ltd., XCMG GROUP, Mammoet, PALFINGER AG and Shanghai Zhenhua Heavy Industries Co., Ltd. (ZPMC) among others.

Konecranes

Konecranes is headquartered in Hyvinkää, Finland and was founded in 1910. The company is engaged in manufacturing industrial cranes and crane components, workstation lifting systems, container handling equipment and maintenance service. The company deals in various business segments of service, industrial equipment and ports solutions among which industrial equipment and port solutions is market focussed segment. The company offers broad product portfolio of innovative products in workstation lifting systems, overhead cranes, hazardous environment cranes and hoists, core of lifting, container handling equipment, shipyard cranes, mobile harbor cranes, lift trucks, agilon, crane advisor and among which workstation lifting systems, overhead cranes, hazardous environment cranes and hoists, container handling equipment, shipyard cranes and mobile harbor cranes is market focused category.

• In October 2020, Konecranes has announced about their merger with Cargotech Corporation. Both the companies together will provide equipment and operational systems including the lifting and transportation of freight. They will provide their equipment to wide range of industries including transportation, container handling, manufacturing, paper & pulp, metals & mining and construction & engineering among others. This merger will help the company to expand their product portfolio and offer more options to their customers.

The company has wide global presence across the globe such as Americas, Europe, Middle East & Africa, and Asia-Pacific. Company also generates revenue from the subsidiaries such as MHE-Demag (S) Pte Ltd.(Singapore), Morris Material Handling(U.K), konecranes private limited (India), Konecranes UK(U.K), and KCI Holding USA, Inc.(U.S) among others

Terex Corporation

Terex Corporation is headquartered in Connecticut, U.S. was founded in the year 1933. The company deals in manufacturing of lifting and material processing products and services for various industries. The company offers various product categories such as aerial work platforms, material processing, cranes, utilities, pick and carry cranes, material handlers, concrete products among which cranes is focused category. The company also deals in business segments such as aerial work platforms and materials processing among which materials processing is focussed segment.

• In June 2020, Terex Corporation has announced about their new official Terex Tower Cranes distributor partner Cranbalt in Sweden. With this partnership, the company will expand their business in Europe region as Cranbalt is one of the leading distributors in Europe and increase their business.

The company has presence in Europe, Asia-Pacific, North America and South America. In addition to it, the company also generates its revenue from the various subsidiary companies such as A.S.V. Holding, LLC (U.S.), CBI Europe B.V. (Netherlands), Genie France S.A.R.L. (France), Industrial Conveyors Sdn Bhd (Malaysia), and Pegson Group Limited (U.K.) among others.

Liebherr-International Deutschland GmbH

Liebherr-International Deutschland GmbH is headquartered in Biberach, Germany which was founded in 1949. The company is a manufacturer of products and services for the mining and construction sectors, refrigeration and freezing products for commercial and residential use. The company has wide product categories of refrigeration & freezing, construction machines, mining equipment, mobile and crawler cranes, maritime cranes, material handling technology, aerospace & transportation, gear technology and automation systems and components among which construction machines, mobile and crawler cranes, maritime cranes, material handling technology is market focused category.

•  In February 2020, Liebherr-International Deutschland GmbH has launched new LTM 1120-4.1 in ConExpo which has taken place in Las Vegas. The new terrain cranes have four-axle crane and lifting capacity of 120 tonnes and a 66 m long telescopic boom. This new launch will help the company to expand their product portfolio.

The company has global presence in North America, Europe, Asia-Pacific, South America, Middle East and Malaysia. In addition, company also generates revenue through the subsidiary such as Liebherr Transportation Systems (China) Co., Pinghu (China), Somatel-Liebherr Spa, Ain Smara (Algeria), OEMServices SA, Tremblay-en-France (France), and Aerospace Transmission Technologies GmbH (Switzerland) among others.