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In the past 20 years, the world's construction crane industry has undergone great changes. The rapid development of RT (Off-Road Truck Crane) and AT (all-terrain cranes) products broke the existing product and market structure. Under the impact of economic development and fierce market competition, the world's construction crane market is further becoming integrated. At present, the annual sales of construction cranes in the world has reached about 7.5 billion U.S. dollars. The main producing countries are the United States, Japan, Germany, France, Italy, etc. There are more than 10 top companies in the world, mainly in North America, Japan (Asia) and Europe.
The United States is both a major producer of construction cranes and one of the largest world markets. However, due to the rapid development of the crane industry in Japan and Germany, and the rise of RT and AT products, the dominance of American manufacturers in the world market in the 1960s and 1970s was gradually being weakened, thus forming a three-legged momentum for the United States, Japan, and Germany. . In recent years, the U.S. economy has rebounded and the market is active. Foreign companies have participated in competition. The strength of American manufacturers has also increased, and the rise of Terex Cranes is an example. Terex Cranes formerly was the American Colin Crane Factory. Since 1995, it has developed into one of the world's top companies through a series of mergers and acquisitions.
Since the 1970s, Japan has become a major producer of construction cranes. The quality and quantity of products have increased rapidly. They have been exported to European and American markets, and the total annual output ranks first in the world. Since 1992, due to the appreciation of the yen, the decline in domestic infrastructure investment, and the impact of the Asian financial crisis, annual production has been on a downward trend. The current annual demand in the Japanese market is about 3,000 units.
Europe is a market with great potential. European industrial countries are both exporters of construction cranes and important importers. Germany is the largest European market, followed by the United Kingdom, France, Italy and other countries. In the German market share of AT products, Liebherr accounted for 53%, Grove accounted for 16%, Dematic accounted for 14%, and Tadano and Terex each accounted for 10% and 5%.
Joint trend of foreign construction crane industry
The joint wind in the crane manufacturing industry is very similar to the automotive industry. In the automotive industry, GM, Ford, Renault, BMW, Mercedes, Volkswagen and other large companies have embarked on the joint road, the two industries The world market has become increasingly integrated. To gain market share and maintain growth in a mature world market, the shortest way is to buy competitors. Its long-term goal is to compete for the dominant position of the world market. In the crane industry, in a sense, entering the world market means entering the three major markets of North America, Japan (Asia) and Europe.
The world's top companies have a strong influence on the world market, but so far no company has gained a dominant position in the above three major markets. Four companies have established bases in two major markets: Grove and Terex in North America and Europe; Tadano in Asia and Europe; Sumitomo builds in Asia and North America.
Grove, Terex and Tadano entered the European market by acquiring competitors. Grove first engulfed the British Kirs in 1984 and then purchased Krupp in 1995. After Terex acquired the PPM of France and Bendini of Italy in 1995, it has acquired other European and American companies in recent years. Tadano annexed German Farn in 1990. Sumitomo Corporation acquired the US company Link Bellt in 1986.
Both Liebherr and Dematic have exported cranes to the Americas and Asia, and Kato has also sold its products to Europe. However, crane production is more localized than relying on local agents to create more opportunities. The products of both Tadano and Kato are similar, and the chassis of the truck crane is also the same. However, Tadano has invested more in overseas than Kato, thus increasing exports and improving domestic demand. The difficult position brought by the shrinking market is in a more favorable position.
Most manufacturers are also striving to expand their product lines while competing for these markets. Grove's truck cranes and RT products have a competitive advantage. After purchasing Krupp, they have considerable strength in AT products. The company also plans to produce crawler cranes. Manitowoc has dominated the crawler crane industry, but it also hopes to gain the same impact in other crane product areas.
In the past, some of the cooperation of crane manufacturers focused on marketing agreements or licensing trade agreements. Licensing trade is earlier than the full-scale mergers and acquisitions, and the risks are small. There are precedents in the industry. However, manufacturing according to the license agreement often ends after the expiration of the property rights dispute. Terex has historical connections with Japanese IHI, and Terex has also provided IHI crawler cranes with American Crane's product logo. Some people think of the cooperation between Terex and IHI as an example of the feasibility of licensing trade. However, such agreements are difficult to last. The result is nothing more than Terex’s request for more control over IHI, or for the independent production of crawler cranes. IHI has not yet established a North American market share and is only acting as a subcontractor. The UK’s Grove began selling Kobelco crawler cranes and urban cranes in 1999. The cooperation agreement between Tadano and Hitachi Construction Machinery signed in 1978 to provide mutual products and expand the product range of the two parties has had little effect. With the shrinking of the domestic market, Hitachi Construction Machinery announced in February 1999 that it will once again consider expanding the cooperation in the production and sales of mobile cranes and Toda Field. The Tadano company hopes to have a U.S. manufacturing base, but the time is not yet ripe.
Having multiple types of products can diversify income. Terex Corporation operates both mining equipment and lifting equipment. Lifting handling equipment includes AT and RT products, truck cranes, crawler cranes, and tower cranes. Based on its experience in producing excavators, Link-Belt became one of the first companies to apply hydraulic technology to gantry cranes. But currently Sumitomo has separated its crane and excavator companies in Japan and the United States (including Link Baird) based on the fact that cranes and excavators belong to different industries. Liebherr produces both excavators as well as mobile cranes and tower cranes. It also produces container handling cranes in Ireland. Its companies are all separate entities.
World Crane Development Status