Last year, the leasing company VIKINGKRAN celebrated its tenth anniversary with impressive financial figures. Despite being a small enterprise, the company's revenue increased by 67% in 2024, reaching 685.7 million rubles, and its net profit rose fivefold to 126.4 million rubles. On the eve of the Construction Industry Day, Russian Construction Machinery Network and Pavel Mayor, the general manager of VIKINGKRAN, discussed the growth potential against the backdrop of an economic slowdown. (Published by Russian Construction Machinery Network, translated by Mechanical Intelligence Station)
Specializing in heavy tower crane rental
VIKINGKRAN specializes in the rental of heavy tower cranes with a lifting capacity of over 16 tons and offers a full range of services from design to maintenance duty teams. The company's success began in 2014 with its participation in the construction of the Russian Island Bridge in Vladivostok, when the K400 (20 tons) and K1000 (40 tons) tower cranes from the Danish company KRØLL were used. These devices also became the inspiration for the company's name (Danes are regarded as descendants of the Vikings).
Technology is not the core; the team is the key
Pavel Mayor said, "Our business is based on operating in complex industrial environments, so we are accustomed to taking responsibility and solving unconventional problems. For each demand, we will provide a free and prompt technical solution instead of considering whether a contract can be signed first. "
The company has accumulated a unique remote technical support system in remote areas from Murmansk to Vladivostok: each piece of equipment is equipped with a dedicated debugger, who is required to arrive at the fault site within 30 minutes. In areas where more than three tower cranes are operating simultaneously, emergency vehicles equipped with a full set of tools are provided, and local spare parts warehouses are set up at large construction sites.
Landmark project
• The Petrovsky Channel Bridge on the western diameter line of the St. Petersburg Expressway: Tower cranes were installed in extremely confined Spaces on the artificial island over the Neva River, and a 21-ton over-specification hoisting was completed at a height of 125 meters.
The Kolabelini Canal Bridge in St. Petersburg: A 50-meter-high 16-ton tower crane is directly fixed on the steel structure of the slipway 60 meters above the ground. The 750-ton crawler crane takes 30 minutes for each loading and unloading, and the process needs to be precisely planned.
• Nizhny Novgorod Residential area: Single attachment construction of a 105-meter high-rise building, installation of complex facade, and later installation of ventilation shafts and elevator shafts using dedicated hook groups.
Moscow Metro construction: Tower cranes are used to replace mining equipment, continuously lifting earthwork and segments in 60-meter deep Wells for 6 to 8 months to ensure that tunnel boring machines operate without rest.
The core achievement of VIKINGKRAN is not the equipment, but the establishment of a self-regulating system centered on the team - technology is just one of the four elements, and the key lies in the collaborative efforts from operators to senior executives at the headquarters.
Engineering Team: Complex Solutions and Import Substitution Center
The 12-person engineering team of the company is led by the chief mechanic, and the chief engineer is responsible for production safety. Not only did they solve complex construction site problems, but they also took on the maintenance tasks of KRØLL and TEREX tower cranes after the sanctions. The import substitution program launched in 2022 has achieved 74% localization of components. Typical cases include:
• Repair of KRØLL K-320 rotary reducer: Independently design transmission shafts, gear sets and other components to replace the original factory Rochling, and establish spare parts inventory.
• TEREX CTL630 blind spot monitoring system installation: Install a wide-angle anti-destruction dome camera and a zoom micro camera on the boom, and transmit the data in real time to the 7-inch screen in the cab.
The current situation of the equipment and tower crane rental market in China
The company currently has 31 self-owned tower cranes (mainly KRØLL and TEREX) and 6 leased equipment. In 2022, it added the Chinese SCHÖNER brand. Pavel admitted that he was initially influenced by market bias, but his doubts dissipated after actual use: "SCHÖNER was recommended by TEREX partners. Its metal quality and welding process both meet the standards, so we don't need any additional modifications." "
He believes that there are two reasons for the current decline in the supply of new tower cranes in the market:
The absence of mortgage policies has led to a shrinking demand for new houses.
Over the past three years, there has been an excessive backlog of imported equipment. Some suppliers have turned to leasing, but for some leasing companies, 30% of the equipment is still idle.
Market Outlook for 2025
The rise in loan interest rates and inflationary pressure have slowed down the growth rate of the construction market, causing some infrastructure projects to freeze. Although enterprises such as SBER, Rosatom and EVRAZ continue to build, the local market fluctuates significantly: local infrastructure such as the metro is advancing, and most large-scale projects have been postponed until 2026. The manufacturing industry mainly focuses on workshop renovations and upgrades of waste gas treatment systems.
With the intensification of industry uncertainty, construction parties are paying more attention to the resources available at present, and long-term plans are even adjusted weekly. While some competitors compete for rental share through price wars, VIKINGKRAN opts to enhance industry collaboration - leading projects with heavy tower cranes and then subletting small and medium-sized equipment, and clearly defining the division of maintenance responsibilities in the contract.
Heavy Equipment Strategy and 2026 Plan
In the next five years, VIKINGKRAN will continue to focus on the rental field of tower cranes over 16 tons. In 2024, the company purchased five pieces of equipment and has initiated the procurement plan for the first half of 2026. On the occasion of the industry festival, Pavel sent a message to his clients and partners: "Believe in yourself. The path lies beneath your feet. Love your career and go all out, and you will surely embrace new development opportunities. "