1. Caterpillar, but specializing exclusively in cranes.

2. The John Deere of the crane manufacturing industry.

• Mobile Hydraulic Cranes: These versatile cranes offer hydraulic telescoping booms and are used for a wide range of lifting applications, including rough-terrain, all-terrain, and truck-mounted variants.
• Lattice-Boom Crawler Cranes: Designed for heavy-duty lifting, these large cranes operate on tracks and are known for their high capacity and stability on demanding job sites.
• Tower Cranes: Stationary cranes primarily used in urban construction for lifting heavy materials and components to great heights.
• Boom Trucks: Truck-mounted cranes that combine the mobility of a truck with the lifting capabilities of a crane, ideal for various delivery and construction tasks.

Manitowoc (MTW) primarily sells its equipment to other businesses (B2B) rather than directly to individuals. Their sales model typically involves selling through a global network of independent dealers. These dealers then sell or rent the equipment to a diverse range of end-user companies.

While Manitowoc does not typically disclose specific major customers by name in its public filings, the primary categories of companies that purchase and utilize their cranes and lifting solutions include:

• Equipment Rental Companies: These companies purchase large fleets of cranes for rental to various construction, industrial, and infrastructure projects. Given their market position and the significant role of rental in the heavy equipment industry, leading public rental companies are highly likely to be major indirect or direct customers.
  • United Rentals, Inc. (URI)
  • Herc Holdings Inc. (HRI)
• Large Construction Companies: General contractors and specialized construction firms involved in commercial, residential, and industrial building projects often purchase cranes directly for long-term projects or specialized needs.
• Infrastructure and Industrial Project Developers: Companies involved in the development and maintenance of public infrastructure (e.g., bridges, roads, utilities) and heavy industrial sites (e.g., energy, manufacturing, mining) are significant end-users of Manitowoc's products.

• Cummins Inc. (Symbol: CMI)
• ZF Group

Aaron H. Ravenscroft, President and Chief Executive Officer

Mr. Ravenscroft has served as President and Chief Executive Officer of The Manitowoc Company since August 2020. He joined Manitowoc in March 2016 as Executive Vice President of Mobile Cranes, and in August 2017, he also assumed responsibility for the Tower Cranes business. Before joining Manitowoc, Mr. Ravenscroft was a Regional Managing Director at Weir Group, a British equipment provider, from 2013 to 2016. From 2011 to 2013, he served as President of the Process Flow Control Group at Robbins & Myers. He holds a Bachelor of Arts degree in Economics from Bucknell University and an MBA from Carnegie Mellon University.

Brian P. Regan, Executive Vice President and Chief Financial Officer

Mr. Regan has served as Executive Vice President and Chief Financial Officer of The Manitowoc Company since May 2022. Prior to this role, he was the Vice President, Corporate Controller and Principal Accounting Officer since November 2018, and also oversaw the Treasury function starting in 2020. Before joining Manitowoc, Mr. Regan held positions of increasing responsibility at SPX Corporation from 2006 to 2018, most recently as Vice President Finance, Chief Financial Officer of SPX Transformer Solutions. He also previously worked at Ernst & Young LLP and Ogilvy & Mather.

Leslie L. Middleton, Executive Vice President, Americas and EU Mobile Cranes

Mr. Middleton has served as the Executive Vice President, Americas and EU Mobile Cranes since November 2020. He joined Manitowoc in February 2016, previously serving as Senior Vice President of Americas Mobile Cranes. His responsibilities include optimizing operations, developing and implementing lean strategies, increasing new product development, and driving growth in the Americas and Germany mobile cranes businesses.

Jennifer L. Peterson, Executive Vice President, General Counsel and Secretary

Ms. Peterson has served as the Executive Vice President, General Counsel and Secretary since August 2022. Her previous roles at Manitowoc include Interim General Counsel and Assistant Secretary, Vice President and Associate General Counsel, and Associate General Counsel – Litigation and Product Safety. Before joining Manitowoc, Ms. Peterson was Director of Litigation, Americas for Adient plc (2016-2018) and Senior Group Counsel for Johnson Controls, Inc. (2014-2016). She also served as Deputy General Counsel for Journal Communications, Inc.

James S. Cook, Executive Vice President, Human Resources

Mr. Cook is the Executive Vice President of Human Resources at The Manitowoc Company. Further detailed background information was not readily available in the provided search results.

The rapid acceleration of demand for electric and zero-emission heavy construction equipment, driven by increasingly stringent environmental regulations and customer sustainability goals, poses an emerging threat. While Manitowoc is actively developing electric crane solutions and showcasing prototypes, a slower pace of innovation, product breadth, or cost-effectiveness in bringing these solutions to market compared to competitors could lead to significant market share erosion, particularly in regions with strong environmental mandates such as Europe.

Manitowoc (MTW) primarily operates in the global crane market, offering a range of lifting solutions including mobile hydraulic cranes, lattice-boom crawler cranes, boom trucks, and tower cranes. The addressable markets for its main products and services are sized as follows:

• Global Crane Market: The global crane market size reached USD 53.6 billion in 2024 and is projected to reach USD 77.9 billion by 2033, exhibiting a compound annual growth rate (CAGR) of 3.82% during the period of 2025-2033. Other estimates place the global crane market at USD 34.41 billion in 2025, projected to advance to USD 42.47 billion by 2030 with a 4.30% CAGR.
• Mobile Crane Market (Global): The global mobile crane market reached USD 16.28 billion in 2024 and is projected to grow to USD 17.23 billion by 2025, with an anticipated CAGR of 5.94%. By 2032, this market is expected to surpass USD 25.84 billion. Another report estimates the mobile crane market at USD 18.9 billion in 2025, projecting it to grow to USD 36.1 billion by 2035, at a CAGR of 6.7%.
• Tower Crane Market (Global): The global tower crane market was valued at USD 7.7 billion in 2024 and is projected to reach USD 11.4 billion by 2033, demonstrating a CAGR of 4.4% during 2025-2033. In 2024, the tower crane market size was estimated at USD 7.47 billion, with a projection to grow to USD 11.74 billion by 2035, at a CAGR of 4.19% from 2025-2035.
• Rough Terrain Crane Market (Global): The rough terrain crane market was valued at USD 8.34 billion in 2024 and is expected to reach USD 13.49 billion by 2032, growing at a CAGR of 6.2%. In 2023, worldwide sales for rough terrain cranes were estimated at US$ 7.85 billion, with a projection to reach US$ 14.1 billion by the end of 2033, expanding at a 6% CAGR.
• Crawler Crane Market (Global): The global crawler crane market size reached USD 3.3 billion in 2024 and is expected to reach USD 5.5 billion by 2033, at a CAGR of 5.7% during 2025-2033. Another analysis indicates the global crawler cranes market is projected to increase from USD 5.2 billion in 2025 to USD 8.2 billion by 2035, with a CAGR of 4.6%.

Share Repurchases

• In October 2023, Manitowoc's Board of Directors authorized a new share repurchase program of up to $100.0 million, effective from January 1, 2024, through December 31, 2025.
• A previous $150 million share repurchase program, authorized on January 1, 2022, expired on December 31, 2023, under which the company repurchased 89,781 shares for $1.5 million during the fourth quarter of 2023.
• As of December 31, 2024, approximately $29.9 million remained on an approved share repurchase plan.

Share Issuance

• Manitowoc has reported $0 million in stock issuance as of October 22, 2025.
• The number of shares outstanding has remained relatively stable, with 35.09 million in 2023, increasing slightly to 35.13 million in 2024, and 35.45 million as of November 2025.

Outbound Investments

• In February 2025, the company completed the acquisition of certain crane assets of Ring Power Corporation, expanding its direct-to-customer operations in Georgia, North Carolina, and South Carolina.
• In October 2022, Manitowoc acquired certain assets of the crane rental fleet of Honnen Equipment Company, adding to its presence in Colorado and other areas.
• Manitowoc acquired the crane business of H&E Equipment Services, Inc. for approximately $130 million in the fourth quarter of 2021, enhancing its rental, sales, aftermarket parts, and service capabilities.

Capital Expenditures

• For 2025, anticipated capital expenditures are approximately $47.0 million, with around $23.0 million earmarked for the rental fleet. In Q3 2025, capital expenditures were $8 million, including $3 million for the rental fleet.
• Capital expenditures for 2024 totaled $45.7 million.
• In 2023, capital expenditures were $47 million, with $23 million invested in the rental fleet.