When a petrochemical company in China needed to lift an 812-ton piece of equipment into place at a new plant a while ago, it called on Wisconsin-based Manitowoc for a crane that soared more than 17 stories high.

The mechanical behemoth put the industrial-oil apparatus, itself 112 feet high, in place in less than 30 minutes.

The project was part of a massive construction project to expand the plant’s capacity for producing fuel and kerosene.

It was also yet another example of how U.S.-based heavy machinery companies are benefiting from the economic boom in China and other emerging economies around the world.

While the U.S. market continues to peter out, the emerging markets are providing more than enough growth to make up for the sluggish domestic economy.

These companies — which make up IBD’s Machinery-Construction/Mining group — make the machines that are building emerging markets’ infrastructure, everything from roads and bridges to buildings and power plants.

“They’re really pretty global and they’re all doing fairly well because of the tremendous amount of growth in overseas business right now,” said Chuck Yengst, an analyst with market research firm Yengst Associates.

The biggest and most influential company in this group by far is Caterpillar with its giant dump trucks, bulldozers and engines.