The Manitowoc Company

What The Manitowoc Company does

The Manitowoc Company (NYSE:MTW), founded in 1902 and headquartered in Milwaukee, Wisconsin, is a global manufacturer of engineered lifting solutions. It operates through four established brands — Grove (all-terrain and mobile hydraulic cranes), Potain (tower cranes, including topless and self-erecting models), National Crane (truck-mounted cranes), and Shuttlelift (carry-deck industrial cranes) — supported by a Used Cranes program. The product portfolio is augmented by a software and services layer, including the Grove CONNECT and Potain CONNECT telematics platforms, the ASSIST 4G mobile diagnostic app, the CraneSTAR fleet management system, and the CRANIMAX and 3D Lift Plan lift planning tools.

The company serves four primary verticals — construction, energy and renewable energy, industrial, and government/municipal — and distributes through a global independent dealer network supplemented by direct enterprise sales and the Manitowoc Direct online portal. Revenue is generated from two streams: new crane equipment sales (one-time capital purchases) and aftermarket parts, remanufacturing, structural repairs, training, and Manitowoc Finance (recurring/service). For full-year 2025, the company reported net sales of $2.24 billion (+2.9% YoY), with record non-new machine sales of $690M and a record $940M backlog entering Q1 2026.

The business is exposed to global infrastructure and construction cycles, with manufacturing operations in the United States, France, Germany, China, and India. Manitowoc pursues a CRANES+50 growth strategy emphasizing aftermarket expansion, geographic diversification (recent expansion into Chile, Mexico, France, Portugal, and Canada), and product innovation, while managing structural headwinds including $39M in projected 2026 tariff impacts addressed partly by a $10M annualized cost-restructuring program.

Name

The Manitowoc Company

Legal name

The Manitowoc Company, Inc.

Website

https://manitowoc.com

Company type

Public

Founded year

1902

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Manitowoc Company (NYSE:MTW) is a global manufacturer of engineered lifting solutions operating four crane brands — Grove, Potain, National Crane, and Shuttlelift — serving construction, energy, industrial, and government customers through a worldwide dealer network and aftermarket services.

Ownership category

akta.pro rank

Product category

Engineered lifting solutions / Cranes

NAICS

Material Handling Equipment Manufacturing (33392), Overhead Traveling Crane, Hoist, and Monorail System Manufacturing (333923), Agriculture, Construction, and Mining Machinery Manufacturing (3331)

SIC

Construction, Mining & Materials Handling Machinery & Equip (3530), Construction Machinery & Equip (3531), General Industrial Machinery & Equipment (3560)

akta.pro primary industry

Mobile & Crawler Cranes (IMAHAJAA)

akta.pro secondary industries

Cranes, Hoists & Overhead Material Handling (Industrial) (IMAHABAE), Truck-Mounted & Loader Cranes (IMAHAJAF), Specialized Lifting Systems (Hydraulic Gantries, Strand Jacks, Jacking Systems) (IMAHAJAO), Material Handling & Industrial Lift Vehicle Manufacturing (Forklifts/Telehandlers/Reach Stackers) (IMACAFAD)

Keywords

• Engineered lifting solutions
• Mobile hydraulic cranes
• Tower cranes
• Truck-mounted cranes
• Aftermarket crane services

Headquarters

HQ city

Manitowoc

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. New Crane Equipment Sales: Sale of new crane equipment across Grove (all-terrain), Potain (tower), National Crane (truck-mounted), and Shuttlelift (industrial) brands. Q4 2025 orders reached $803.4 million, up 55.8% year-over-year.
2. Aftermarket Parts and Services: Parts sales, remanufacturing, structural repairs, training, and finance services. Record non-new machine sales of $690 million in 2025, up 10% year-over-year driven by CRANES+50 strategy.
3. Manitowoc Finance: Financing services for crane purchases, providing flexible and affordable financing options for customers.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels5 records

Core offering

The Manitowoc Company designs, manufactures, and services a portfolio of engineered lifting equipment under four brands: Grove (all-terrain and mobile hydraulic cranes), Potain (tower cranes, including topless, self-erecting, and MCT models), National Crane (truck-mounted cranes and boom trucks), and Shuttlelift (carry-deck industrial cranes). Revenue is generated from new crane sales and a growing aftermarket business that includes parts, remanufacturing, structural repairs, training, and Manitowoc Finance financing services.

Product overview

The Manitowoc Company is a global manufacturer of engineered lifting solutions operating under a multi-brand portfolio architecture. The core offering consists of five major brand families: Grove (all-terrain mobile cranes with MegaWingLift technology), Potain (tower cranes including topless and self-erecting models), National Crane (truck-mounted cranes), and Shuttlelift (carry-deck cranes), complemented by a Used Cranes program. These product lines are supported by a suite of technology and service modules including Grove CONNECT/Potain CONNECT (telematics platforms for remote monitoring and real-time diagnostics), CraneSTAR (fleet management), CRANIMAX and 3D Lift Plan (lift planning tools), Manitowoc Finance (financing), and comprehensive aftermarket support including parts, structural repairs, remanufacturing, training, and warranty services.

Differentiator

Problem solved

Functional benefit

Brands

• Grove CONNECT: Telematics and fleet management system for Grove cranes
• Potain CONNECT
• CraneSTAR
• CRANIMAX (CRANEbee)
• ASSIST

Products and services

• Grove all-terrain and mobile hydraulic cranes Grove branded all-terrain and mobile hydraulic cranes for heavy-duty lifting in construction, energy, industrial, and infrastructure applications, including the GMK series with MegaWingLift technology.
• Potain tower cranes Potain branded tower cranes including topless, self-erecting, and MCT models for urban high-rise, residential, commercial, and infrastructure construction projects.
• National Crane truck-mounted cranes and boom trucks National Crane branded truck-mounted cranes and boom trucks providing mobile lifting solutions for various industries and applications.
• Shuttlelift carry-deck industrial cranes
• Used Cranes program
• Manitowoc Finance Captive financing services providing flexible and affordable financing options for Manitowoc crane purchases and equipment acquisition.
• Aftermarket parts, remanufacturing, structural repairs, and training Aftermarket support offering for installed Manitowoc cranes, including parts supply, remanufacturing, structural repairs, training, and warranty services; supports the CRANES+50 strategy and generated $690 million in record non-new machine sales in 2025.

Quantifiable outcome

• Record backlog of $940 million in Q1 2026, up 17.8% year-over-year
• +2 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature6 records

Partnerships

Two partnerships are on record, tiered core and regional.

• Nors MachinerycoreChannel Partner/ Reseller/ Distributor · 30 April 2026Strategic distribution agreement covering major Canadian provinces including British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, and Quebec for expanded Canadian market coverage.
• KARUNregionalChannel Partner/ Reseller/ DistributorRegional Manitowoc dealer in Azerbaijan handling crane sales and support. Handed over two Grove GMK5150XL cranes to HAREKET for offshore platform construction in Azerbaijan.

Scale indicators12 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Tadano: Tadano is a Japanese crane manufacturer specializing in all-terrain, rough-terrain, and truck-mounted cranes that directly compete with Manitowoc's Grove and National Crane product lines. Tadano also co-filed the EU anti-dumping complaint and is one of the largest global crane OEMs by volume, comparable in scale to Manitowoc's crane segment.
• Sennebogen: Sennebogen is a German manufacturer specializing in industrial and material-handling cranes (crawler, port, and telescopic), with a strong European industrial-crane presence. It co-filed the EU anti-dumping complaint alongside Manitowoc and directly competes with Manitowoc in industrial and specialty cranes.
• Konecranes: Konecranes is a Finnish manufacturer of industrial cranes, port cranes, and lifting equipment with a strong service and digital business. It directly overlaps with Manitowoc's industrial/Shuttlelift offerings and its port-solutions and service-after-sales strategy mirrors Manitowoc's CRANES+50 aftermarket push.
• Liebherr: Liebherr is a privately held German manufacturer of mobile, crawler, and tower cranes — directly competing with Manitowoc's Grove, Potain, and crawler crane lines across global markets. Its Ehingen facility is the European counterpart to Manitowoc's Wilhelmshaven plant, and Liebherr co-filed the EU anti-dumping complaint alongside Manitowoc.
• Terex Corporation: Terex is a US-based peer manufacturer of mobile cranes (through Terex Mobile Cranes, formerly Demag) and aerial work platforms, with a substantial Genie service business. Terex competes directly with Manitowoc in rough-terrain and all-terrain cranes and pursues a comparable parts-and-service aftermarket strategy.

Emerging players

• XCMG: XCMG is one of China's largest construction-equipment manufacturers, with a fast-growing global crane business and an active European export push that prompted the EU anti-dumping investigation co-filed by Manitowoc. It is the most aggressive emerging low-cost challenger in mobile and crawler cranes globally.
• Sany Heavy Industry: Sany is a major Chinese construction-equipment OEM with a growing crane portfolio (all-terrain, crawler, and tower) competing with Manitowoc globally. Sany has invested heavily in international distribution and R&D, positioning it as a long-term emerging competitor to the established Western crane brands including Manitowoc.
• Zoomlion Heavy Industry Science & Technology: Zoomlion is a Chinese crane and construction-equipment OEM rapidly expanding outside China, with a broad mobile, crawler, and tower crane portfolio that directly overlaps with Manitowoc's brands. It is a key emerging competitor in emerging markets and an indirect threat in developed markets through price competition.

Broad incumbents

• Cargotec: Cargotec (parent of Hiab, Kalmar, and MacGregor) is a broader Finnish lifting-and-handling incumbent offering truck-mounted cranes, port equipment, and marine load handling. Its Hiab division competes with Manitowoc's National Crane truck-mounted line, while its broader portfolio makes it a larger, more diversified incumbent.

Regional players

• Kobelco Construction Machinery: Kobelco is a Japanese crane and excavator OEM with strong regional presence in Asia-Pacific and growing North American presence. Its crawler and lattice-boom crawler cranes overlap with Manitowoc's heavy-lift crane offerings and it is one of the established Japanese crane brands competing in international markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/manitowoccranes
• Facebookfacebook.com/ManitowocCompany
• LinkedInlinkedin.com/company/200589
• Instagraminstagram.com/manitowoc_company
• Xx.com/MTWCoCareers

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries4 records

Funding overview

Funding rounds3 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A6 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The Manitowoc Company