THE BIGGEST ACCESS EQUIPMENTS MANUFACTURERS

The market is strengthening despite issues surrounding supply chains and logistics

In January this year, JLG announced that the 100% investment in Hinowa was complete

PHOTO: ADOBESTOCK

The latest accessM20 table, which shows access equipment related revenues for the 2022 calendar year, indicates a strengthening market compared to last year.

The original version of the list of the world’s largest access equipment manufacturers by turnover, published in the May-June issue of Access International contained 42 companies – this edited version features the top 20. The sector continues to face numerous challenges: supply chain constraints, long lead times, the increasing cost of labour, and labour shortages. These are now the bugbears of the modern industry around much of the world and, on top of this, there’s high inflation and power supply issues, particularly in Europe due to the war in Ukraine, but also in other mature markets.

As a result, access equipment manufacturers have their work cut out to continue to achieve growth. That said, those opportunities for growth remain strong thanks to an overall rental market that is looking to invest and expand globally.

Opportunities in specialist sectors

There are growth opportunities in specialist sectors. In the European utility industry, there has been some consolidation, with Time Manufacturing and its brand Versalift continuing on the acquisition path with the buyout of France-based Élévateur and its acquisition from 2021, Movex, which has increased the group’s revenue considerably this year. Remaining in that sector, France-based Klubb took ownership of Italy’s Isoli last year with its range of vehicle mounts.

Turning to another specialist area, that of spider lifts, there is good growth among those manufacturers in this year’s table. A significant reason for this is the growing demand for spider lifts in the US. For many of these companies the US already represents their largest international market, despite being underdeveloped for this equipment type. No wonder the European manufacturers are concentrating their efforts in this country with a range of expansion efforts. There has also been acquisition activity in this sector. In January, JLG announced that its 100% investment in Hinowa was complete. As such this will be the last time the Italian manufacturer will appear in its own right in the accessM20.

ABOUT THE accessM20

All non-US$ revenue figures have been converted to a common currency rate based on the value of the US$ on 6 June 2014. Detailed guidance was provided to manufacturers about what to include in their figures, as follows:

REVENUES TO INCLUDE:

> Revenues for the calendar year 2021;

> Sales of new aerial platforms (self propelled booms and scissors, push around and low level access, trailer mounted platforms, truck mounted platforms, utility platforms such as insulated units, mast climbing work platforms, construction hoists and transport platforms);

> Sales of used aerial platforms;

> Revenues from after sales service and parts, relating to aerial platform products;

> Other aerial platform related revenues, such as rental or re-rental activities.

REVENUES TO EXCLUDE:

> Sales of non-aerial work platform products, such as telehandlers, cranes, utility sector digger derricks, transport trailers;

> Revenues for service and parts relating to non-aerial products, (such as telehandlers, cranes, digger derricks, etc.).

Larger truck mount producers have also been on the growth path, with Socage and Multitel Pagliero both reporting strong figures. Again, there is a challenge here with supply for chassis, as with most vehicle mounted producers. Actual demand and orders remain strong; lead times remain long.

Steady and healthy

At the top of the table, JLG and Terex AWP, including Genie, retain their first and second places, respectively. Sitting alongside the pair of access-equipment giants in the top six are other longstanding major general access equipment producers Skyjack and Haulotte.

As has been the case over recent years they have been joined by the relatively young Chinabased manufacturers, such as XCMG, Dingli, Zoomlion and LGMG – all of which are in the top ten. XCMG is the highest-placed Chinese company in third with a revenue of more than US$1 billion for the first time.

Another dramatic move among the Chinabased manufacturers comes from Sunward, which has seen more than a three-fold increase in revenue in its access division. As a major generalist construction equipment manufacturer in China, the company was relatively late to the market.

This milestone reflects the dominance of Chinese manufacturers in their own country, which has been the stage for huge growth over the last five to seven years.

Those manufacturers are continuing their expansion efforts in Europe and North America. Combined with a maturing access market in China, the next five years will be a crucial period for these producers.

Apart from these, the table demonstrates a steady and healthy drift upwards as manufacturers acclimatise themselves to both the challenges and opportunities that the modern access world throws their way. IC