The Caterpillar of high-reach access equipment (like boom lifts) and materials processing machinery (crushers and screeners).

A specialized heavy equipment manufacturer, like a John Deere focused on aerial work platforms (Genie lifts) and machinery for crushing rock and aggregates.

• Aerial Work Platforms (AWP): Manufactures Genie brand equipment such as boom lifts, scissor lifts, telehandlers, and material lifts, designed for safe work at height.
• Materials Processing Equipment (MP): Produces crushers, screens, washing systems, material handlers, and concrete mixer trucks used in aggregates, mining, recycling, and construction.

Terex (symbol: TEX) primarily sells its equipment and services to other companies rather than individual consumers. Its major customers are diverse and operate across various industrial sectors globally.

Terex's SEC filings (e.g., its 10-K reports) state that no single customer accounted for 10% or more of its consolidated net sales in recent fiscal years. This indicates a diversified customer base, meaning Terex does not publicly disclose specific major customers by name that meet such a revenue threshold. However, based on its business segments and industry channels, its major customers fall into distinct categories, often including large public companies within those categories that are significant purchasers of heavy equipment.

The major customer categories for Terex are:

• Equipment Rental Companies: These companies are substantial buyers of Terex's equipment, particularly aerial work platforms (Genie brand) and telehandlers, to stock their extensive rental fleets. They then lease this equipment to a wide range of end-users in construction, industrial, and other sectors. Examples of large public companies in this category that are major purchasers of such equipment include:
  • United Rentals, Inc. (NYSE: URI)
  • Herc Holdings Inc. (NYSE: HRI)
  • Ashtead Group plc (LSE: AHT) - parent company of Sunbelt Rentals
• Construction and Infrastructure Contractors: These companies directly purchase Terex's cranes, aerial work platforms, and other heavy machinery for their own projects, including commercial and residential building, road construction, bridge building, and utility infrastructure development.
• Materials Processing, Mining, and Recycling Operations: Businesses involved in quarrying, mining, aggregate production, waste recycling, demolition, and forestry acquire Terex's materials processing equipment (such as crushers, screeners, trommels, and wood chippers) for their industrial operations.

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Simon A. Meester, President and Chief Executive Officer

Simon A. Meester was appointed President and Chief Executive Officer of Terex Corporation, effective January 1, 2024. Prior to this role, he served as President of Aerial Work Platforms since May 2023, President of Genie since August 2021, and Chief Operating Officer of Genie since June 2020. Mr. Meester initially joined Terex in 2018 as Vice President, Global Sales and Marketing Administration for Aerial Work Platforms. Before his tenure at Terex, he was the Vice President and General Manager of the Industrial Control Division at Eaton Corporation. Earlier, Mr. Meester spent 14 years in progressively senior roles at Caterpillar, Inc., before becoming President of Sandvik Mining and Construction in India.

Jennifer Kong-Picarello, Senior Vice President, Chief Financial Officer

Jennifer Kong-Picarello was appointed Senior Vice President, Chief Financial Officer on February 10, 2025. Prior to joining Terex, Ms. Kong-Picarello served as Senior Vice President, Chief Financial Officer of Energy Management, a segment within Schneider Electric, from 2022 to 2025. From 2013 to 2022, she held various finance leadership roles at Honeywell, including Vice President, Chief Financial Officer of Honeywell's Intelligrated division. Ms. Kong-Picarello began her career at Deloitte & Touche.

Patrick Carroll, President, Environmental Solutions

Patrick Carroll was appointed President, Environmental Solutions effective January 1, 2025. He most recently served as President of the Environmental Solutions Group (ESG), which he helped establish at Dover Corporation in 2010 and led for nearly 15 years. Before his work with ESG, Mr. Carroll held various roles at several other organizations.

Kieran Hegarty, President, Materials Processing

Kieran Hegarty has served as President of Terex Materials Processing since March 2010.

Joshua Gross, President, Aerials

Joshua Gross leads the Genie and Terex Utilities global businesses as President, Aerials. He has been with Terex for 21 years.

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The addressable markets for Terex's main products are as follows:

• Aerial Work Platforms (AWP): The global aerial work platform market size was valued at USD 17.46 billion in 2022 and is projected to reach USD 33.78 billion by 2030, growing at a compound annual growth rate (CAGR) of 8.9% from 2023 to 2030. North America held a significant market share of over 38.0% in 2022.
• Materials Processing (MP): The global market for materials processing equipment is estimated at USD 85 billion in 2025 and is projected to exhibit a compound annual growth rate (CAGR) of 5% from 2025 to 2033, reaching approximately USD 120 billion by 2033.

Terex Corporation (TEX) is expected to drive future revenue growth over the next 2-3 years through several strategic initiatives and market opportunities:

1. Strategic Merger with REV Group and Focus on Specialty Equipment: Terex's announced merger with REV Group is a significant driver, aiming to create a U.S.-centric specialty equipment manufacturer. This merger is projected to generate at least $75 million in annual synergies and result in a combined entity with pro forma sales of approximately $5.8 billion. The planned exit from the cyclical Aerial segment will allow the combined company to focus on less cyclical markets, enhancing earnings predictability and targeting a mid-teens adjusted EBITDA profile.
2. Expansion in the Environmental Solutions (ES) Segment: The Environmental Solutions segment is a key growth area, demonstrating strong performance with 12.9% sales growth and a 19.1% operating margin in Q2 2025. Terex is well-positioned to benefit from the expanding global waste and garbage collection vehicle market, which is forecast to grow at a 6% Compound Annual Growth Rate (CAGR) from $15 billion to $25 billion between 2025 and 2033. Acquisitions, such as Environmental Solutions Group (ESG), are integral to this growth, contributing to overall sales and operational footprint.
3. Investment in Utilities and U.S. Electrical Grid Modernization: Terex is strategically investing in its Utilities segment to capitalize on opportunities arising from the modernization of the U.S. electrical grid. The company is enhancing its manufacturing and service capabilities and focusing on product innovation to meet market demand and improve margins in this sector.
4. Geographical Market Expansion: The company is actively pursuing initiatives to strengthen its market presence in new geographical areas. A key focus is on emerging markets, particularly in Asia and Latin America, which are experiencing substantial infrastructure development that drives demand for heavy machinery.
5. Product Innovation and Electrification: Terex is committed to expanding its product offerings and driving innovation, including the development and launch of new electric and hybrid models within its Materials Processing segment. This focus on advanced and environmentally friendly equipment is a priority to meet evolving market demands.

Share Repurchases

• In December 2022, Terex authorized a new share repurchase program of up to $150 million, in addition to approximately $43 million remaining from a previous program.
• In July 2025, the Board authorized a further share repurchase program of up to $150 million.
• Terex completed a $150.28 million share buyback in July 2025.

Share Issuance

• As part of the definitive merger with REV Group announced on October 30, 2025, approximately 48 million shares of Terex common stock are expected to be issued.

Outbound Investments

• On October 8, 2024, Terex completed the acquisition of Environmental Solutions Group (ESG) from Dover Corporation for $2.0 billion in an all-cash transaction, or $1.725 billion net of expected tax benefits.
• On October 30, 2025, Terex and REV Group announced a definitive merger, creating a scaled specialty equipment manufacturer with an implied enterprise value of approximately $9 billion.
• Terex completed the sale of its Tower and Rough Terrain Cranes businesses to Raimondi Cranes SpA on November 3, 2025, aligning with a strategy to reduce cyclicality and accelerate growth.

Capital Expenditures

• Terex expects capital expenditures of approximately $120 million in 2025.
• Capital expenditures were $137 million in 2024, primarily focused on supporting business growth and operational improvements.
• In 2023, capital expenditures were $127 million, following $110 million in 2022 and $59.7 million in 2021.