1. Features of truck cranes
A truck crane is a type of crane mounted on a regular or specially designed automotive chassis, with separate compartments for the driving cab and crane operation. The advantages of this type of crane are good mobility and rapid transfer. The disadvantages are that it requires legs for support during operation, cannot bear loads while driving and is not suitable for work on soft or muddy terrain. The chassis performance of an truck crane is equivalent to that of a load-carrying truck with the same gross weight, meeting the technical requirements of highway vehicles, and therefore can travel unimpeded on various types of roads.
2. Sales volume
In recent years, China’s truck crane industry has made significant progress. Although there is still a certain gap compared to foreign countries, this gap is gradually narrowing. In 2021, the sales of truck cranes in China were 49,136 units, a decrease of 9.3% year-on-year.
Classified by lifting capacity, truck cranes are categorized as light-duty (lifting capacity under 5 tons), medium-duty (lifting capacity between 5-15 tons), heavy-duty (lifting capacity between 5-50 tons), and extra-heavy-duty (lifting capacity above 50 tons). Due to usage requirements, there is a trend towards increasing lifting capacity, with the production of large truck cranes ranging from 50 to 1200 tons. Among them, in the sales structure of Chinese truck cranes in 2021, the proportion of 25-ton cranes had the highest sales proportion at 53.5%.
3. Export quantity
With the rapid development of the national economy, there are increasing demands from users for the use of truck cranes, hoping that they can be multi-functional and not only used for transporting heavy objects but also to meet the needs of different environments and job types. These demands have provided clear directions for future development. China is one of the major exporters of mechanical engineering machinery, with the export quantity of truck cranes reaching 3,180 units in 2021, a year-on-year increase of 54.4%.
4. Sales pattern of truck cranes
Chinese truck crane manufacturers are all striving to build their own brands and develop and grow their businesses. Truck crane companies in China include XCMG, Zoomlion Heavy Industry, Sany Heavy Industry, and others.
In the first half of 2022, XCMG’s revenue from crane sales was 11.9 billion RMB, a year-on-year decrease of 37.7% compared to the first half of 2021; Zoomlion Heavy Industry’s revenue from crane sales was 9.819 billion RMB, a year-on-year decrease of 56.7% compared to the first half of 2021; and Sany Heavy Industry’s revenue from crane sales was 7.146 billion RMB, a year-on-year decrease of 49.1% compared to the first half of 2021.
The revenue breakdown of the crane machinery for the first half of 2022 is as follows: XCMG accounted for 31.15%, Zoomlion Heavy Industry accounted for 46.1%, and Sany Heavy Industry accounted for 18.01%.
In the first half of 2022, the main operating costs of XCMG’s lifting machinery were 9.651 billion RMB, a year-on-year decrease of 35.7% compared to the first half of 2021; the main operating costs of Zoomlion were 7.938 billion RMB, a year-on-year decrease of 52.9% compared to the first half of 2021; the main operating costs of Sany were 6.027 billion yuan, a year-on-year decrease of 45.4% compared to the first half of 2021.
In the first half of 2022, XCMG’s main operating profit for its crane business was 2.249 billion RMB, a year-on-year decrease of 44.7% from the first half of 2021; Zoomlion’s main operating profit for its crane business was 1.881 billion RMB, a year-on-year decrease of 67.8% from the first half of 2021; Sany’s main operating profit for its crane business was 1.12 billion RMB, a year-on-year decrease of 62.6% from the first half of 2021.
In the first half of 2022, the profit ratio of XCMG’s crane business was 44.26%, the profit ratio of Zoomlion’s crane business was 42.49%, and the profit ratio of Sany’s crane business was 12.54%.
In the first half of 2022, the crane machinery gross profit margins of XCMG, Zoomlion, and Sany were 18.9%, 19.16%, and 15.67%, respectively.
Source from Intelligence Research Group (chyxx.com)
