accessM20: World’s top access equipment manufacturers in 2023

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

Access M20

With supply chain constraints continuing to be a challenge, along with the increasing cost of labour, on top of labour shortages, these have become the bugbears of the modern industry around much of the world.

That’s besides high inflation and power supply issues, particularly in Europe, due to the war in Ukraine, but in other mature markets too - just for example South Africa.

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 is expanding globally.

Growth of specialised access equipment markets

One of those opportunities is in the specialist sectors. In the European utility industry there has been some consolidation over the last year, with Time Manufacturing and its brand Versalift continuing on the acquisition path with the buyout of France Élévateur and its own latest investment in 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 increasing demand for spider lifts in the USA.

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 the country with a range of expansion efforts.

There has also been acquisition activity in this sector. In January this year 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.

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 while lead times remain as long as ever.

AccessM20: The world’s biggest access equipment manufacturers - 2023

AccessM20 2023 table
 
Dramatic shifts in the access equipment sector

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 China-based manufacturers, such as XCMG, Dingli, Zoomlion and LGMG – all of which are in the top 10. XCMG is the highest-placed Chinese company in third this year with a revenue in dollars of more than $1 billion, for the first time.

Another dramatic move among the China-based 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 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 challenges and opportunities that the modern access world throws their way.

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 2022;

■ 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.).

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