accessM20 2024 reflects a diverging marketplace for access manufacturers

The world’s access equipment manufacturers enjoyed a predominantly successful year in 2023, however, those in China struggled against market forces, while the aerial specialist niche continued its development.

The top 10 of Access International’s accessM20 listing of the world’s largest access equipment manufacturers, ranked by revenue, remains the same as last year’s table, with just one exception –

accessM20 logo

that being Sinoboom, which has jumped up one place into 10th this year, from 11th in the previous listing.

The large traditional mainstream access equipment manufacturers of scissors and boom lifts had a successful 2023, in the main, coming off the back of Covid, as supply chains finally eased and rental companies returned to pre-pandemic buying cycles.

accessM20 chart 2024
Market conditions 

In China, on the other hand, where an economic downturn and decline in construction were notable last year, the manufacturers based there exeprienced less substantial increases in revenues, as a rule, than we have seen in the past – you may remember the jumps of more than 100% year-on-year in some cases over recent years, as the access sector in the country exploded.

However, there is still plentiful growth from the China-based suppliers, thanks to continued expansion of the domestic access sector, albeit at a slower rate, along with exports to mature and emerging markets.

Among the more specialist manufacturers there have been some important developments too. Hinowa was sold to JLG at the beginning of last year, which helped bump up the US-based OEMs’ sales in the 2023 calandar year, on which this latest listing is based, and means the spider lift specialist is no longer in the table.

Fellow Italian spider lift manufacturer CMC also saw a leap in fortunes following the acquisition of its US distributor All Access Equipment (AAE), which increased its revenue figure by 46%.

Headquartered in Boston, the company is a leading provider of sales, distribution, and services throughout North America.

And, there has been another spider lift manufacturer to have been the subject of a buyout, in recent weeks. Teupen was acquired by US-based utility equipment provider Altec this year, which means it remains in the accessM20 until the 2024 figures are presented next year.

As an aside, Denmark-based spider producer Falcon Lifts began a strategic partnership with Sinoboom in 2022, which sees Sinoboom distribute its products in China under the Sinoboom brand name.

All this activity from spider lift producers may indicate this product type is becoming more mainstream and rental oriented. It may also reflect the desire by larger manufacturers to broaden their horizons outside of construction related products.

Sector activity

Elsewhere in the list, mast climber producer Scanclimber’s sale to Alimak from previous owner Tractel now shows in its figures.

Another manufacturer to have sadly left the list is Holland Lift, following its liquidation in August last year.

The company said at the time it faced a substantial increase in steel prices and overall running costs, along with severe supply chain issues and intense competition.

Overall, the listing is looking healthy, despite economic difficulties seen in Europe and China last year that are set to continue.

As always, the access sector continues to adapt and change, particularly it could be argued, over the last 18 months or so.

We will see where 2024 takes us.

About the accessM20

All non-US$ revenue figures have been converted to a common currency rate based on the value of the US$ on June 6, 2014. Detailed guidance was provided to manufacturers about what to include in their figures, as follows:

Revenues to include:

  • Revenues for the calendar year 2023;
  • 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.).

Receive the information you need when you need it through our world-leading magazines, newsletters and daily briefings.

Sign up

Ollie Hodges Publisher Tel: +44 (0)1892 786253 E-mail: [email protected]
Lewis Tyler
Lewis Tyler Editor Tel: 44 (0)1892 786285 E-mail: [email protected]