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Competition in the operational service market

publish:2023-10-16 16:12:36   views :440
publish:2023-10-16 16:12:36  
440

The market for large-scale mechanical equipment operation services in China is extremely fragmented. In terms of revenue, the top three participants in 2021 accounted for only 1.5% of the total market size, with over 15000 small and medium-sized participants accounting for the remaining 98.5% of the market share.

In terms of revenue, Hongxin Construction and Development Co., Ltd. ranked first in 2021, accounting for 0.7% of the market share, with a total revenue of 6.3 billion RMB; The second place is Pangyuan Leasing, which was registered and established in Shanghai in 2001. Pangyuan Leasing focuses on tower crane leasing and related services, with a revenue of 4.3 billion yuan in 2021; The third place is Huatie Emergency. Huatie Emergency was registered and established in 2008 and listed on the main board of the Shanghai Stock Exchange in 2015. Its main business is to provide construction support equipment, construction maintenance equipment, construction machinery and other operation and maintenance equipment, as well as high-altitude work platform operation services. Its revenue in 2021 was 2.6 billion yuan.

According to the Frost Sullivan report, based on revenue in 2021, Hongxin Construction and Development Co., Ltd. is the largest equipment operation service provider in China. The numerous awards received by the company also reflect its leading market position and brand awareness, including being recognized by the organizing committee of the Global Top 50 Construction Machinery Summit as one of the "Top 10 Leasers in China's Construction Machinery Industry" (2020 and 2021), Ranked first among the top 10 Chinese high-altitude operation equipment rental companies in 2022 by the organizing committee of the Global Construction Machinery Industry Conference's Top 50 Summit, and ranked third in the 2022 Global High altitude Operation Platform Rental Industry Top 10 Brands by the organizing committee of the Global Construction Machinery Industry Conference's Top 50 Summit Ranked 4th globally in 2021 and 6th globally in 2020, as well as 14th in 2022 and 24th in 2021 among IRN100 global tenants.

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