A K H L E X E C U T I V E R E P O R T

G L O B A L A N A L Y S I S O F F L E E T S , T R E N D S ,

F I N A N C I A L S A N D E C O N O M I C F U N D A M E N T A L S

W O R L D C R A N E R E P O R T

IC50 10 year report 2003-2012 COVER.indd 1 25/10/2012 11:38:54

IC50 - SECTOR ANALYSIS

WORLD CRANE REPORT4

Executive summary

Global economic picture

CRANE MANUFACTURERS

ICm20 Ranking

Crane manufacturers

in the Yellow Table

Crane manufacturers’

share price performance

CRANE OWNERS:

WORLDWIDE 2012 IC50

CRANE OWNERS: TEN-YEAR

GLOBAL TRENDS Fleet size

Fleet changes

Fleet composition

IC50 numbers

Cranes sizes

Employment

Depots

Staff and depots ratio

Global analysis –

Economic fundamentals

IC50 – Fleet size and

manufacturer revenues

68

101216

18

20

22

34

363738394041424344

45

IC50 2003-2012 - Front Section.indd 4 25/10/2012 11:16:18

WORLD CRANE REPORT

IC50 - SECTOR ANALYSIS

5

CRANE OWNERS: TEN-YEAR

EUROPEAN TRENDS Europeans in the IC50

Fleet size

Fleet changes

Fleet composition

IC50 numbers

Cranes sizes

Employment

Depots

Staff and depots ratio

Europe analysis –

Economic fundamentals

IC50 – Fleet size and

manufacturer revenues

CRANE OWNERS: TEN-YEAR

NORTH AMERICAN TRENDS North Americans in the IC50

Fleet size

Fleet changes

Fleet composition

IC50 numbers

Cranes sizes

Employment

Depots

Staff and depots ratio

North America analysis –

Economic fundamentals

IC50 – Fleet size and

manufacturer revenues

46

48495051525354555657

58

59

60616263646566676869

70

Contents

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WORLD CRANE REPORT36

GLOBAL - FLEET SIZE

A t 21,896 units, the total number of cranes owned by the IC50 companies in 2012 was comparable to the peak of 22,002 machines

seen in 2010. The last five years has seen crane numbers maintained at between roughly 21,500 and 22,000 units.

In contrast, the previous four years saw a period of rapid growth in crane fleets as construction activity and economic growth boomed. From a low point in the cycle of 15,540 units in 2004, the following four years saw annual growth rates varying between 4% and 12% until the global fleet hit the current 21,500 unit level in 2008. This represented a 38% increase in the number of cranes in the space of four years.

During the growth period, Europe-based crane rental companies added the most to their fleets, with machine numbers rising 62% between 2004 and 2008 to a total of 7,188. North American inventories grew 24% to 10,592 cranes in the same period, while

IC50 global fleetDespite economic conditions, the IC50’s global crane fleet has not fallen

significantly in the years following the 2008 financial crisis

fleets in the rest of the world were up 43%.The intervening years of relative stability have

seen regional crane numbers ebb and flow. For the most part, Europeans have continued to grow, with a 22% increase in machine numbers between 2008 and 2012, taking the total to 8,746 machines. Owners in the rest of the world have added 9% over the same period.

In contrast, North American crane owners have reduced their fleet over the last five years, with crane numbers falling 14% to 9,118 machines. This is similar to the number owned in 2005 and 2006.

As a result, only about 42% of the IC50’s cranes are now owned by North American companies, compared to some 59% in 2002. This period has seen a swing towards European owners, which now account for 40% of crane numbers, compared to 26% in 2002. The proportion of the fleet in the rest of the world has changed little – 18% now, 15% in 2002. ■

CRANE OWNERSHIP OF GLOBAL COMPANIES IN THE IC50 - 2003 TO 2012

25,000

20,000

15,000

10,000

5,000

02003 2004 2005 2006 2007 2008 2009 2010 2011 2012

North AmericaRest of the World Europe

4,559

9,347

2,564

4,440

8,522

2,578

5,210

8,706

2,235

5,293

9,387

3,016

5,713

10,156

3,257

7,188

10,592

3,687

7,601

10,688

3,400

8,170

9,029

4,803

7,717

8,873

4,937

8,746

9,118

4,032

NUM

BER

OF U

NIT

S

IC50 2003-2012 - Global Trends.indd 36 25/10/2012 11:27:22

WORLD CRANE REPORT 37

GLOBAL - FLEET CHANGES

ANNUAL GROWTH IN GLOBAL AND REGIONAL CRANE FLEETS

Growth patternsOverall the changes in numbers of cranes owned by the IC50 has been the subject of

relatively small changes but there has been significant regional volatility

Y ear-on-year changes in the global fleet of cranes owned by the 50 largest IC50 companies have been subject to relatively small

changes over the last ten years. The biggest annual growth was seen in 2006, with a 9.6% increase, while the biggest fall of the last decade was 2004’s 5.7% decline.

The smooth cycle described by the total number of cranes worldwide, however, masks regional volatility which, in some cases, has been quite striking.

Starting with the least volatile, the North American fleet has broadly followed the trend set worldwide. In some senses this is to be expected, as North American crane owners are the largest group in the IC50.

The crisis years, however, have seen some departures from this trend. In 2008 North American growth lagged at 4.3%, while the IC50 grew at 12.2%. More striking was the 15.5% dip seen in 2010, very much against the trend in the rest of the world, with robust growth elsewhere driving global growth of 1.4%.

The last two years have seen North American fleet totals move more in line with the global total, and 2012 saw the region’s crane numbers increase for the first time since 2009.

Changes in Europe’s crane fleet have tended to be more volatile, particularly in the boom years, with growth of 17.3% in 2005 and 25.8% in 2008. The region has also looked more resilient to recession. Despite the severity of the financial crisis over the last five years, European crane owners have not reduced their fleets.

The rest of the world market, however, has seen much more violent swings, with a particularly sharp rise in 2006 and, more surprisingly, in 2010. Crane numbers have also been susceptible to some of the biggest falls, with 2005 and 2012 standing out in this respect.

It is hard to draw conclusions about such a diverse region but it is notable that the sharp growth in 2010 lined up with the height of global stimulus spending, while the 2012 drop has come at a time when developing world economic growth has generally slowed. ■

50%

40%

30%

20%

10%

0%

-10%

-20%

2003

Total Rest of the World Europe North America

2004 2005 2006 2007 2008 2009 2010 2011 2012

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2012 IC50

INTERNATIONAL AND SPECIALIZED TRANSPORT ■ JUNE 201222

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WORLD CRANE REPORT 23

S ince the 2011 IC50 ranking things may have changed, downwards, in several parts of the top 100 of the

2012 table but the index is still up by a healthy margin, as is the 2012 IC50 Top 10 Index. While there are only 15 fewer depots and 362 fewer crawler cranes, there are 10,000 fewer employees and nearly 3,000 fewer wheeled mobile cranes in the top 100. Notably, however, the IC Index for the same top 100 companies is up by a strong 764,364 points – around 5%.

It indicates that the trend towards larger cranes continues, although the flurry of new super heavy lifters had its major impact in last year’s table. Since then it has been made by an accumulation of larger series-produced cranes from the major manufacturers across the categories, especially in the Top 100 companies.

COMPANY COUNTRY MODEL CAPACITY (t)ALE UK AL.SK350 5,000Mammoet Netherlands PTC 200 DS 3,200Sarens Belgium SGC-120 3,200Al Jaber Heavy Lift & Transport UAE Demag CC 8800-1 Twin 3,200Lampson International USA Lampson LTL-3000 3,000Deep South Crane & Rigging Company USA TC-36000 Versacrane 2,268Tat Hong Holdings Singapore Terex CC 8800-1 1,600Tiong Woon Crane & Transport Singapore Terex CC 8800-1 1,600Sarilar Heavy Lift & Transport Turkey Terex CC 8800-1 1,600MIC Corporation Japan Terex CC 8800-1 1,600Barnhart Crane and Rigging USA Demag CC 4000 RL 1,600

IC50 LARGEST SINGLE CRANE

Overall increase

Companies are ranked by their IC Index, calculated using the total maximum load moment rating, in tonne-metres, of all cranes in a company's fleet. All companies in the list, plus other prospective ones, have the opportunity to supply fleet information and other data. Where companies supply the full data the figure used is calculated by them. In some cases, where no data is submitted, or is incomplete, we have based a company’s equipment fleet figure on IC estimates. In cases of insolvency, acquisition or lack of information, companies are withdrawn from the table.

While we make great effort to ensure the accuracy of information provided, it cannot be guaranteed and IC accepts no liability for inaccuracies or omissions.

The IC50 Index is updated in the first quarter of each year. If you think your company should be included please contact IC for an application form.

IC50 NOTES

In its 17th year, the IC50

ranking of the world’s

largest crane-owning

companies once again

has a higher total

index value, achieved

with fewer cranes,

people and depots than

the previous year. A

healthy showing of 14

new entries further

bolsters the index over

the 200-entry mark

Continued >

2012 IC50

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