"China's aerial work platform market is still in a growth period. The domestic aerial work platform industry has a small market share, low penetration rate and imperfect product structure. However, driven by factors such as the gradual decline of demographic dividend, the improvement of safety awareness and the improvement of construction efficiency requirements, the domestic aerial work platform industry has developed rapidly."
Definition of work at height
Aerial work platform is a new type of climbing equipment, which can replace the traditional climbing machinery such as hanging basket and scaffold, and can greatly improve the safety and efficiency of aerial work. It is widely used in building construction, steel structure installation, indoor and outdoor decoration, building curtain wall cleaning, warehouse, supermarket, large equipment manufacturing, airport, station and large exhibition hall. In addition to these typical applications, aerial work platforms are also widely used in national defense, ports, docks, airports, industrial and mining enterprises, electric power, communications, gardens and other departments, and there are many customized products designed according to specific application conditions.
Current situation of aerial work market in China
With the economic development and the improvement of industrialization level, the sales volume of aerial work platforms in China has increased year by year, from 45800 in 2017 to 160100 in 2021.
In addition, the number of aerial work platforms and rental market in China has increased year by year. According to statistics, in 2020, the number of aerial work platforms in China was 268000, and the number of rental market was 220000, accounting for 82.09%.
Industry driver analysis
China's aerial work platform market is still in the growth stage. The domestic aerial work platform industry has a small market share, low penetration rate and imperfect product structure. However, driven by factors such as the gradual decline of demographic dividend, the improvement of safety awareness and the improvement of construction efficiency requirements, the domestic aerial work platform industry has developed rapidly.
1. In recent years, the number of construction workers in China has continued to decrease and the labor cost has increased rapidly.
Against the backdrop of declining demographic dividends, aerial work platforms can reduce labor costs. Over the past three years, the number of employees in China's construction industry has declined year by year. In 2021, the number of employees in China's construction industry was 41.7234 million, a year-on-year decrease of 22.26%. In addition, in the past five years, China's construction labor cost has increased year by year, from 48186 yuan in 2015 to 69596 yuan in 2020. Therefore, under the current trend that the demographic dividend subsides and the labor cost of the construction industry continues to rise, the number of operators required by the aerial work platform is small, which makes it possible to save more labor costs in its scenario application, thus breeding the development of the industry market to a certain extent.
2. The high-altitude operation platform has outstanding economy and lower material and operation costs.
With the rise of the building height, the traditional scaffold will have higher and higher requirements for the strength of the bottom structure. Therefore, in addition to the basic construction cost, the scaffold with higher meters often needs to install sub frames on both sides of the frame, and the additional material cost and labor cost will increase.
Taking a 20 meter high construction project as an example, the overhead working platform saves 182400 yuan compared with the traditional scaffold. The scaffold needs one worker to work, two workers push and pull at the bottom, and using the aerial work platform, one person can complete the workload of three people. The construction time of the project is 6 months. Compared with the traditional scaffold, the aerial work platform does not need to be built and disassembled, and the local deployment admission time and inspection application time are shorter, so it can save 2 months and the preparation time is more guaranteed. In terms of the number of personnel, if the traditional scaffold is used, it needs 10 people, while if the aerial work platform is used, it only needs 5 people. In terms of equipment rental cost, the unit price of scaffold is lower than that of aerial work platform, and the rental cost of scaffold is generally 90-100 yuan / month. Considering that shear fork and arm type of different heights are used together in this project, the monthly rent of aerial work platform is set at 6500 yuan / set / month. To sum up, the total cost of the two is 270000 and 4524000 respectively, and the aerial work platform has more overall economic advantages.
3. The number of high-altitude operation safety accidents in China is rising, which has attracted great social attention.
High altitude falling accidents have always been the high incidence area of construction site accidents and the largest invisible killer in safety production. According to the statistics of the Ministry of housing and urban rural development, in 2019 and 2021, falling accidents still accounted for more than 50% of the total production safety accidents of housing and municipal projects in China, maintaining a high proportion. Compared with traditional climbing equipment, aerial working platform can provide a more stable and safe operating environment, so as to effectively avoid safety accidents.
4. The national regulations on high-altitude safety production management are becoming more and more strict.
From the perspective of safety, in addition to the growing awareness of enterprises and construction personnel for safety production, the state has also made aerial work more professional and standardized at the policy level, the on-site installation standards have been continuously improved, and the construction safety requirements have become more and more strict. For example, according to the work safety law, the climbing workers need professional training before they can work, and they are required to use labor protection articles that meet national standards or industrial standards; In the criminal law, severe punishment shall be imposed for acts that violate the provisions on the administration of production safety and that the production facilities and production conditions do not comply with the provisions of the state, resulting in major casualties and other serious consequences. Relevant laws and regulations pay more attention to safety production, which also paves the way for the development of aerial work platform to a certain extent.
5. The domestic aerial work platform leasing market started late and has great potential compared with the mature market in North America.
In China, due to the late entry of aerial work platforms into China's market and low social awareness, the market was mainly purchased by customers at the initial stage. However, with the improvement of social awareness, professional leasing manufacturers arranged aerial work platform leasing business, and the aerial work platform leasing market developed rapidly.
From the perspective of total market ownership, the number of aerial work platforms in China in 2020 was about 241000, with a year-on-year increase of 61.7%, while the number of aerial work platforms in the United States was 730000, about three times that of China. Compared with the mature market of the United States, China's aerial work platform market has great potential, and there is at least 3-5 times growth space in the future.
Scale prediction
First of all, in terms of price, there are certain differences in the price of global aerial work platforms among regions. China's local brand market has developed rapidly and replaced high priced imported products to a certain extent, thus effectively reducing the average price of domestic aerial work platforms; Secondly, the average annual rental rate of aerial work platforms of China's leading enterprises is 85%, which has reached a high level, assuming that it will remain at this level in the next five years; Third, the rental sales ratio of aerial work platforms in China is about 30%. It is expected that the unit price of equipment procurement will decline in the future, while the rent will remain stable for a long time, and the rental sales ratio may increase slightly; Finally, the number of aerial work platforms in China will be 268000 in 2020 and 220000 in the rental market. It is optimistic that the number of aerial work platforms and rental market in China will continue to rise slightly in the next five years.
To sum up, from 2021 to 2025, the overall market scale of China's aerial work platforms will range from 58.811 billion yuan to 149.966 billion yuan, with a compound growth rate of 26.37%; The scale of aerial work leasing market will be between 13.497 billion yuan and 40.155 billion yuan, with a compound growth rate of 31.33%.
