1. Demand situation
Developed countries in Europe and America are the world's largest consumer market for aerial work platforms. In 2005-2007, infrastructure and real estate construction in the world rose, and the high-altitude platform manufacturing industry experienced a period of rapid growth. By 2007, sales of only the top five global manufacturers had reached $6.7 billion, an increase of 86.1% from $3.6 billion in 2005. MAY-JUNE2011, the world's leading manufacturer of aerial work platforms, generally produces a variety of aerial work equipment, including aerial work platforms, aerial work vehicles and other aerial work machinery. In 2008, affected by the global financial crisis, the growth rate of foreign aerial work platform industry slowed down and continued into 2009. Since 2010, with the economic recovery of various countries and the rise of emerging markets, the global aerial work platform industry has resumed its growth momentum.
The level of modernization in China has continuously improved and the economic aggregate has grown steadily. Under such a background, the aerial work platform is an important equipment for mechanization of construction. Its application field has rapidly extended to downstream industries and formed a trend of increasing industry demand. The increase in the penetration rate of aerial work platforms in the construction industry, equipment manufacturing industry, building cleaning and maintenance, warehousing logistics, military engineering and other fields is the main reason for driving demand growth.
2. Supply situation
With the increase in market demand, the supply of domestic aerial work platform industry has maintained a trend of simultaneous growth. On the one hand, the domestic high-altitude operation platform enterprises have increased production scale by increasing investment; on the other hand, the rapid development of the industry has attracted new competitors to join. Attracted by factors such as domestic production cost advantage and strong market potential, international giants have invested in the Chinese market to set up production centers, which has greatly accelerated the growth rate of China's high-altitude operation platform supply. The two major foreign-invested production companies that have been officially put into production are Terex (Changzhou) Machinery Co., Ltd. and JLG (Tianjin) Equipment Co., Ltd. At the same time, China's own aerial work producers are also accelerating, such as Zhejiang Dingli, Jingcheng Heavy Industry, and Hunan Xingbang. They absorb and absorb foreign advanced technology, not only in terms of performance and quality, but also close to internationally renowned brand products. Outstanding cost performance advantages, market competitiveness continues to increase.
3. Supply and demand structure
At present, China's aerial work platform industry is growing at a high speed, and market demand is strong. The characteristics of industry supply and demand are mainly reflected in two points. First, the supply of medium and high-end products is in short supply, especially for leading enterprises in the industry. The market share is high, and the gap between production capacity and demand is more prominent. However, due to factors such as capital, land and plant area, the scale of expansion has not kept pace with the growth of market demand. Second, the number of local enterprises capable of producing high-end products is relatively small. There are some small-scale enterprises in the industry, and their research and development capabilities are limited. The production of aerial work platforms are also concentrated in the entry-level products, and the production capacity cannot be invested. Mid- to high-end product market. The lack of capacity of such high-end products has caused China's military engineering, shipbuilding, and ultra-high-altitude operations to occupy the market by imported products.
Analysis of the profit level of China's aerial work platform industry
China's high-altitude platform industry's sustained high growth market demand has pushed the industry's profit margin to a high level. With the increase of domestically-recognized manufacturers in domestic investment, the output of high-end products will increase. In the traditional sense, the gross profit margin of high-end products such as large height and large-load platforms may decline. On the other hand, with the increasing demand for high-altitude operations in the downstream industry and the popularity of aerial work platforms for various special applications, the differentiated demand for aerial work platform products is becoming more and more prominent. Personalized customized products and information-based intelligent products are gradually becoming the high-end development trend in the future. This puts higher requirements on the level of technological R&D and production technology of production enterprises. The resulting technical barriers, talent barriers and brand barriers will form a market competition dominated by international giants and current industry leaders and relatively standardized and stable. pattern. Therefore, the gross profit margin of the manufacturers with strong technical research and development capabilities will remain stable.
In addition to the difference in gross profit margins in different market segments, there are also differences in gross margins between the international market and the domestic market. In the international market, manufacturers in the United States, Europe and other countries and regions are the main competitors. They have a long history of development, leading technology, and established a sound sales channel and good brand recognition in the international market. Its market share is high, and it also dominates in pricing. However, due to the high labor costs of these developed countries, the market price of products is also high, and the prices of aerial work platform products in the international market are generally higher than the domestic market. Chinese companies currently have a very low market share in the international market and are in the position of price recipients. Therefore, China's aerial work platform products can stably obtain higher gross profit margins when export sales.