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"Volume rises and price falls"! Aerial work platform trapped in a development cycle? How to break the game

"volume rises and price falls"! Aerial work platform trapped in a development cycle? How to break the game

China Construction machinery information

2021 will be a year of rapid development of aerial work platforms. On the basis of China's aerial work equipment market holding more than 230000 units in 2020, the sales volume of aerial work equipment in China in 2021 is predicted to be 90000 units in the industry. According to this growth rate, the sales volume in 2023 is expected to exceed 130000 units

however, when the aerial work platform market is booming, some people in the industry have expressed "unspeakably optimistic" concerns

with the rapid growth of market sales and equipment ownership, the rental price of aerial work platforms continued to decline, forming a strange circle of "volume rise and price fall"

the fierce industry competition is like sailing against the current. If you want to survive, you will be forced forward by the torrent of the market, and you can't help but continue to expand the scale and compete for the market

in addition, the competition among host machine manufacturers has gradually entered the Red Sea. From foreign brands and professional manufacturers in the early days to other construction machinery giants in recent years, they have made a strong entry into the high-speed machine market, increased full horsepower production, and adopted strong precision technology as a set of tolerance value promotion means. The number of equipment in the high-altitude work platform rental market continues to increase

the industry believes that while the domestic aerial work platform market continues to drive the development and growth of traditional and high-tech enterprises, the oversupply situation will also exist for a long time

polarization intensifies, and the long tail effect highlights.

the 2020 China aerial work platform Leasing Market Research Report shows that 2020 is the watershed of China's aerial work platform market, and there are obvious and consistent three differentiation trends, both for lessors and manufacturers:

first, the differentiation of volume and price. In 2020, the aerial work platform market "increased in volume and fell in price", the number of new equipment increased rapidly, and the national average rent continued to decline sharply. 6-meter and 10-meter scissor type aerial work platforms, 18 meter curved arm and 24 meter straight arm aerial work platforms all decreased by about 20%

in addition, the 2020 China aerial work platform rental market research report also investigated the rental level of four types of equipment, including the 4m scissor aerial work platform, the 16m curved arm aerial work platform, the 18m and 32m straight arm aerial work platform. Compared with other categories in the construction machinery industry, the rental level of aerial work platforms is significantly lower

in the fierce market competition environment, the overdue customers of lessors have generally expanded, and the number of overdue customers has increased significantly. Only one third of lessors can control below 10%. The profitability of lessors continued to decline, and the average gross profit margin of lessors fell by 3% year-on-year in 2020

the profitability of lessors continued to decline, and the average gross profit margin of lessors fell by 3% year-on-year in 2020

the second is the differentiation between large and small. In 2020, the increment of aerial work platform equipment is highly concentrated in the head lessors, and the head lessors have become the head manufacturers. The alliance between the two sides has further consolidated the position of each other's head enterprises and intensified the speed of polarization

according to the data, the market concentration of the three manufacturers represented by XCMG, Zoomlion and Lingong heavy machinery in China's aerial work platform industry is nearly half, with good electrical insulation. In terms of lessors, the equipment ownership of the three leading lessors has exceeded 1/3 of that of the whole industry, which has a direct impact on the trend of market rent prices

at the same time, the so-called "long tail phenomenon" is also taking place. More and more small and medium-sized lessors and more and more non head manufacturers embrace each other. The average number of high-end machine brands owned by lessors has increased significantly in 2020

affected by the continuous decline in rents, most small and medium-sized lessors' long-term business confidence was frustrated, and the number of new Lessors in 2020 decreased. The overall scale of lessors is still dominated by small and micro lessors with less than 100 units, accounting for nearly 70%; However, the number of large-scale lessors with more than 3000 units is also growing rapidly

the third is the differentiation between fine and coarse. Equipment leasing is an industry that needs highly refined operation and management. Research data shows that the high gross profit group of small and medium-sized lessors wins in operation and management

in the overall market environment with a sharp decline in rents, the core element behind it is "customers". At the current stage, it mainly focuses on the coverage and development of small customers, new customers and more market segments, as well as the per capita efficiency operation in the operation process

plant construction, warehousing and logistics, and venue construction are the application scenarios with the most demand for aerial work platforms. The proportion of lessors covering this field continued to decline in 2020, indicating that small and medium-sized lessors began to turn to small projects and strengthen customer coverage. In the future, the customer direction of head leasing companies and small and medium-sized leasing companies will be gradually clear for a period of time

changes and breakthroughs in the future

aerial work platforms in China started late, but have developed very rapidly in recent years, and are also the most growing sector in the whole construction machinery industry

especially affected by the decline of demographic dividend, the expansion of basic investment and other comprehensive factors, the application fields of aerial work platforms will be more and more extensive, and the development of the industry will continue for a long time. For example, the construction of Beijing Daxing airport will bring aerial work platforms to the fore

Daxing airport has a unique shape. Its high-altitude construction work faces many problems, such as large span, high height, complex structure, difficult positioning and so on. Relying only on the traditional high-altitude operation method with the increasing pressure of vehicle fuel consumption, it is not only inefficient, but also difficult to ensure construction safety

Gu Tao, general manager of JLG Asia Pacific, said in an interview that Daxing airport did not use scaffolding when it was built, but fully used aerial work platforms. Compared with traditional scaffolding, the efficiency of aerial work platforms can be increased by 50% and the cost can be reduced by about 50%

although the overall market will continue to grow, the aerial work platform industry has shown a vicious competition, and the profit margin of lessors is not proportional to the growth of market scale

therefore, we cannot be simply optimistic about the market prospect of aerial work platforms. At present, China is at a different stage of development from the developed countries in Europe and the United States, and the development between different regions and industries is uneven. Therefore, the growth of the aerial work platform market is also gradual. It is not possible to directly benchmark the equipment holdings in Europe and the United States to determine the market demand of China

as early as last year, some industry experts said that the market of aerial work platforms was overestimated, which was a "false tuyere". However, the growth trend of the market in 2020 showed that the aerial work platform industry still had great growth potential. Due to the influx of a large number of capital and personnel in the short term, irrational competition in the market was formed

it can be predicted that the fierce competition in the aerial work platform rental market will continue for some time until the industry reshuffles again, and the development of enterprises that survive the waves will be on track, the market will form a balanced pattern, and the overall profit margin will gradually rise to the equilibrium point

however, some experts predict that the rental price of aerial work platforms will not rise in the short term, and in the long run, even if it rises, it will hover around the profit and loss line. Therefore, it is more necessary for leasing enterprises to do a good job in refined operation and management. On the one hand, horizontal development covers more market segments; On the other hand, the in-depth development of an application field vertically. Focus on a certain region, fully cover several types of customers after locking, and cover all customers with the same attribute in the region, so as to make the market more detailed

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