Access M20: On the up
By Euan Youdale05 September 2017
The top four positioned companies remain the same this year. JLG, Terex, Skyjack and Haulotte saw marginal growth or declines during 2016 in their revenues, rather than heavy gains or losses. These ‘big four’ produce the majority of main line scissor and boom products in the market and are generally buffeted by the same winds, while the manufacturers of lower volume and niche products often find themselves in a different dynamic, with, perhaps, a growing requirement for their specific equipment or they are taking market share from the larger manufacturers.
Looking down the table there are some very positive figures. Among which are those reported by the truck mount manufacturers. Of those, Ruthmann is particularly notable with a 24.9% increase over the 2015 figure. It bought a 60% share of Marti Group last year which has now been renamed Ruthmann Italia to include low cost truck mounts and Bluelift tracked platforms. The Ruthmann Italia share of its parent company represents around 6% of the company’s total. While the company has not changed places in the table, still in 11th position, its revenue rise is impressive and represents a buoyant home market in Germany and a bid to increases its global presence with lower cost truck mounts and partnerships with the likes of Time Manufacturing in the US.
On the subject of Time, it sits one position above Ruthmann in the AccessM20 table, which demonstrates their good fit as equal partners. Helpfully, they also produce, in the main, complementary but non-competitive products. Time was acquired this year by private equity company Sterling Group, which has a long history of buying access companies and has big plans for Time. Curt Howell, Time’s new CEO also has experience in growing companies that are around Time International’s size through organic growth and acquisition. He intends to double Time’s revenue in the foreseeable future. It will be interesting to see how those plans evolve over the next two or three years.
Socage, another vehicle mount specialist, that has spread its wings in to van mounts in recent years, has also seen good revenue growth of 21% and jumped one place to 22 in this year’s table. It also perhaps demonstrates how non-traditional truck mount markets outside of Europe are gradually developing.
Mulitel Pagliero, based in Italy, has also seen an excellent year, with a 38% growth. Although there is an additional inclusion of its French plant in the figures this year. Fellow Italian Co.Me.T has also seen healthy rises, of 20%.
Progress is being made by companies based outside of North America and Europe, significantly those based in China. The country’s biggest manufacturer Dingli has jumped two places up in the table to 17th but it’s the revenue increase of 45% that is most impressive. The company’s tie-up with Magni, in which it bought 20% of the Italian manufacturer, has added its already entrepreneurial spirit as the company becomes a serious contender in Europe with its scissor lifts.
The other Chinese manufacturers in the listing also seem to be on good form. Sinoboom, Mantall and a new entry Runshare are all reporting growth. We will see how those specialist manufacturers fair as XCMG and Sany also start introducing their new booms and scissor lines. There is no reason why we should not find their names mentioned too in the AccessM20 table alongside their access-only counterparts.
One Chinese company in the list that is seeing decline is GJJ. This is because it is a hoist and mast climber manufacturer, and these products are being hit by the general construction downturn in China, while aerial work platforms are still in their infancy in the country.
Talking of new companies based outside China, we also wait to see how the recently launched JCB Access, based in the UK, and GMG, based in the US, fare in future AccessM20 listings. It is too early to make judgements concerning revenue but that will change as they attempt to make in-roads in the market place.
Another company we have been watching closely is Snorkel. Since it was acquired back in 2013 by the Ahern family of companies, and thanks to plenty of investment and product development, it increased its revenue last year by some 19%. With the advance of its parent company’s branches around the world and the continued work to develop its ranges, including the first steps into telehandlers, this rise seems set to continue.
Manufacturers of more niche products like Teupen, Hinowa and Platform Basket have all increased their revenues healthily, at 23%, 14% and 19%, respectively, and Teupen has jumped three places up the table. Big scissor specialist Holland Lift has also had a good year, taking advantage of the growing number of big warehouses and other facilities that require such products.
Across the table we have a generally upbeat set of results this year. They reflect the positive mood at APEX and ConExpo, in Las Vegas, earlier in the year, at which almost all saw great potential in their markets, particularly Europe, with Spain and Italy seeing real growth, along with other parts of the world, like the Middle East and beyond.
About the AccessM20
All non-US$ revenue figures have been converted to a common currency rate based on the value of the US$ on 6 June 2014. Detailed guidance was provided to manufacturers about what to include in their figures, as follows:
Revenues to include:
- Revenues for the calendar year 2016;
- 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.).
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