Manitowoc Targets $1B Aftermarket Business as Crane Demand Builds
Manitowoc is shifting its business toward aftermarket products, service and lifting solutions, aiming to build a $1 billion aftermarket business and reduce its exposure to the historically volatile new-crane cycle, according to CEO and President Aaron Ravenscroft during a company presentation.
Why it matters — MTW watchers would care because the company is pursuing a strategic diversification into the more predictable aftermarket segment, which could reshape its revenue mix and reduce cyclical swings in new-crane demand.