Manitowoc designs, manufactures, and sells cranes for construction, energy, infrastructure, and industrial end markets worldwide. The company sells three main product types: tower cranes (under the Potain brand), used primarily in commercial and residential construction; mobile hydraulic cranes (under the Grove, National Crane, and Shuttlelift brands), which move between job sites for industrial and commercial applications; and lattice-boom crawler cranes (under the Manitowoc brand), used in heavy construction and energy projects. Manitowoc sells primarily through independent distributors and rental companies, supplemented by its wholly owned distribution arm, MGX Equipment Services, which operates 17 branches across 15 U.S. states. The company reports through three geographic segments: Americas, EURAF (Europe and Africa), and MEAP (Middle East and Asia Pacific). Revenue comes from new machine sales — the larger but more cyclical piece — and non-new machine sales, which include parts, field service, used cranes, remanufacturing, rental, and telematics subscriptions. Management targets roughly 35% gross margins on non-new machine sales, compared to much lower margins on new machine sales. Manitowoc is executing a strategy called CRANES+50, which aims to grow non-new machine sales to $1B by expanding its U.S. distribution footprint, growing its European tower crane rental fleet, and investing in new product development and digital service tools.