1. Domestic market: China's construction machinery leasing market is the largest in the world
As the country accelerates urbanization, the construction machinery industry has achieved great development in real estate and infrastructure construction, energy and chemical construction, and China's construction machinery leasing industry has also developed rapidly. According to the China Construction Machinery Leasing Branch, China became the world's largest construction machinery leasing market with a market size of approximately 700 billion yuan in 2019. This is mainly due to the continuous growth of construction machinery and equipment and the continuous increase in the penetration rate of the leasing market. After years of development, China's construction machinery leasing industry is entering a critical period of development, from a quantitative growth type to a quality and efficiency type, and from small and micro to a single large-scale development.
Construction machinery equipment leasing can reduce the capital occupation of construction companies, improve project quality and construction efficiency, and reduce project costs. Most construction companies have widely recognized and accepted this form. As a result, construction machinery rental platforms continue to appear, and market competition is gradually increasing.
According to the rankings of Internet Weekly and eNet Research Institute in 2019, among the TOP10 construction machinery leasing platforms in 2019, XCMG Leasing, Siege Soldiers, First Construction Machinery Network, China Equipment Leasing Network, etc. have entered the list. The company has a good sales platform all over the country, and intensively cultivates business in the sub-industry it is good at. Since obtaining the leasing qualification, the company has developed rapidly and ranked first in the TOP10 construction machinery leasing platform in 2019.
XCMG Leasing is mainly engaged in the financial leasing business of construction machinery. The leased items include construction hoisting machinery, compaction machinery, soil shovel and transportation machinery, road machinery, concrete machinery and piling machinery. The procurement of equipment is mainly cranes, as well as pavers, road rollers, loaders, excavators, rotary drilling rigs, etc. The procurement objects are all production subsidiaries of XCMG Group.
In terms of domestic regional competition, take the excavator construction machinery products as an example. From January to May 2020, the sales volume of excavators in Shandong Province will reach 12,040. Calculating at a occupancy rate of 60%, it can be seen that from January to May 2020, excavators in Shandong Province The number of leases reached 7,224 units, which is a leading position in the country.
2. Foreign markets: North America, Europe, and Japanese construction machinery leasing companies occupy a leading position
In terms of foreign construction machinery leasing, the most powerful construction machinery leasing companies in the world are mainly located in Europe, North America and Japan, including United Leasing Company, Ashtead Group, RSC, Hertz, etc. However, with the rise of emerging market countries such as China, Brazil, Russia, and India, the construction machinery leasing industry will shift to emerging markets in terms of market size and overall focus.
But for now, it is still the leading construction machinery leasing companies in North America, Europe, Japan and other developed regions. In 2019, the global leasing company TOP100 ranking (IRN100) was released, and the United States United Leasing Company ranked first in the world with a turnover of 8.322 billion euros.
In China, only Shanghai Pangyuan Machinery Leasing Co., Ltd. and Shanghai Hongxin Equipment Engineering Co., Ltd. were shortlisted. Horizon C&D entered the list again with a score of 57th. This time, Horizon C&D’s ranking in the top 100 list jumped 25 places from 2018.
Take tower cranes, which are subdivided construction machinery products, as an example. In 2019, the top ten tower crane leasing companies in North America include Morrow Equipment Co., Ltd., Maxum Crane Factory and Big Crane and Rigging Company. Morrow Equipment Co., Ltd. ranks first with 568 units and a market share of 28.04%.
Rapid urbanization, population growth, and increased government spending on infrastructure projects are the main driving forces driving the market's demand for construction equipment, thereby promoting the development of the construction machinery rental market.
Although the scale of my country's construction machinery leasing market ranks first in the world, there is still a big gap in enterprise competition compared with foreign developed countries. In the future, domestic enterprises still need to develop further.
