Mobile cranes bolster Liebherr growth in 2024

Liebherr’s new LTM 1120-4.2 wheeled mobile telescopic crane. Photo: Liebherr

Liebherr’s mobile and crawler crane division posted a 2024 revenue of €3.916 billion, up 13.4 per cent (€464 million) on the €3.452 billion total of the year before.

More than a third (38 %) of that total came from Europe, followed by 29.8 % from North America and 13.2 % from Asia and Oceania. Growth was stronger in the first half of the year and tailed off slightly after that. This is forecast to translate into a decline in revenue for the division in 2025.

Total Liebherr Group revenue was €14.622 billion, up 4.1 per cent on the year before. While it was the group’s highest total annual revenue it was lower than the average over the last five years. Sales were up in just over half (7) of the Group’s 13 product segments. Primary growth drivers were mobile cranes and aeropspace components. Mining and gear technology also had healthy order books, the company said.

Mostly up but also down

Revenue in construction and mining was €9.891 billion, up 3.5 % on 2023. It includes the mobile and crawler cranes, tower cranes, earthmoving, material handling technology, deep foundation machines, mining and concrete technology segments. Growth in the remaining segments was higher, as a percentage, at 5.5 %, increasing the revenue to €4.731 billion. This includes the maritime cranes, aerospace and transportation systems, gear technology and automation systems, refrigerators and freezers, components, and hotels segments.

In addition to the wheeled mobile and crawler crane division, sales in maritime cranes were also up, by 3.6 %, to €1.102 billion.

Tower crane sales, however, were down, by €195 million or 38.2 %, to €315 million. Sales were concentrated in the European Union, taking 55.9 % of the total, followed by 15.6 % in non-EU countries and 13 % in Asia and Oceania. North America was 6 %, behind Africa and the Middle East with 7.9 %. Germany, Netherlands and North America were among the areas heading downwards. In tower cranes, “Liebherr’s outlook for the 2025 business year is relatively cautious.”

For 2025 the Group forecast is for moderate growth with lateral changes in sales among the segments.