Terex bullish on China aerials growth
By Murray Pollok19 September 2015
Terex AWP is forecasting continued high growth rates of aerial platforms in China as the rental sector matures.
Jim Barr, Terex AWP vice president and general manager for Great China, speaking at the third International Rental Conference (IRC) in Beijing, on 21 September, said the market offered huge potential; “We can see 34,000 units annual sales; we can see exponential growth.”
Based on independent research and its own calculations, Terex said the market for booms and scissors could average 36% compound annual growth rates between 2012 and 2016. Terex estimates the market for new booms and scissors in 2014 was around 5,500 units, and is forecasting sales of 7,000 and 9,500 in 2015 and 2016, respectively.
If these growth rates continued the market could exceed 34,000 units per year by 2020.
“There will be some road bumps”, said Mr Barr, “But there is an extreme confidence that we are heading in the right direction with rental.”
Mr Barr said growth in sales was being driven by productivity gains, rising safety standards, and wider acceptance of aerial platforms as a working tool, allied to the growth of the rental sector.
He cited the case of the massive Samsung factory project in Xian, where the use of aerials reduced construction time by two months and reduced access related costs by 57%. Another project seeing the use of aerial platforms is the Hongqiao Expo Center, where 200 new self-propelled booms are operating.
IRC was sponsored by the following companies: Gold sponsor was Genie/Terex AWP; Silver sponsors were JLG and Sany; and Supporting sponsors were Dingli, Haulotte, Ritchie Bros Auctioneers, Skyjack and Sinoboom.