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2. New report on the powered access industry in China

The market for powered access platforms in China has seen phenomenal growth over the last decade, increasing from about 8,600 new machines sold in 2014 to 138,900 in 2024.

As with sales of many other equipment types, the market began to cool in the early 2020s following a brief but spectacular period of stimulus spending at the start of the Covid pandemic. Platform sales held on a little longer than earth moving equipment, but growth began to slow down in 2022, and the market went into an abrupt decline in 2024.

Off-Highway Research’s forecast is for the market to bottom-out in 2026 and 2027 at only about 55 per cent of the volume seen in the peak year of 2024.

As painful as this adjustment is, there are opportunities in the market. The boom lift sector has the potential to grow and mature. What’s more, the fact that rental companies and manufacturers alike are under pressure will force them to try to find new applications for access platforms. Applications for access platforms in China today are very construction-centric at the moment, so there is potential to grow into new end markets.

Click here to read a detailed article on the Chinese AWP market published by Access Briefing

Click here to buy the report