Developed Markets Have More Mature Aerial Work Machinery, And The Number Of Aerial Work Machinery in The Asian Market Has Rapidly Increased in Recent Years.

The inventory is an important reference for the annual sales of high-altitude operation machinery. The update cycle of high-altitude work platforms is usually 4-6 years, and the demand consists of an increase in inventory and an update. Taking the three major markets as an example, for the US market, its ownership growth is relatively stable, with growth rates around 10% except for 2020. Therefore, both the ownership growth and renewal parts account for a large proportion of its demand; For the European market, the growth rate of equipment ownership is relatively slow, so the demand is mainly for the update part; For the domestic market, it has been experiencing a rapid growth in equipment ownership in the past few years, so the main demand is for the increase in equipment ownership.