APEX Asia highlights domestic and global ambitions

Speaking to exhibitors at APEX Asia, taking place this week in Shanghai, the consensus is that the aerial platform market had dropped around 35% in the last 12 months and would not see meaningful upturn for the next couple of years.

APEX Asia 2025 took place at the busiest ever Cemat Asia.

As a result OEMs and rental companies are seeking opportunities abroad. Sunny Jia, General Manager for the Middle East at Chinese OEM Hered said, “the Chinese market will continue as it [for the foreseeable future]. There are a lot of new players and still more coming. I think that level of competition will remain for the next two to three years, after that it will get better.”

Not surprisingly, the slowdown in China is also having ramifications for the rental business across Asia, with several of the larger Chinese rental companies moving machines into South East Asia, South Asia and elsewhere. For example, three Chinese renters are now operating in South Korea, including one of the biggest, Huatie. Complicating this move out of China is the fact that Indonesia and, more recently, Malaysia, are making it very difficult to import used machines.

Opportunities in China 

On the subject of the Chinese market Detao Yu, Corporate Vice President of LGMG confirmed 2025 has seen a dramatic downturn, but it is temporary.

Looking forward to 2026 there are major government projects, such dams, as well as the ongoing major residential and infrastructure projects in the Xinjiang region of the country. This is along with upgrades to existing city centres around China and the need for vast numbers of data centres in the Eastern side of the country. By the end of 2026 it is hoped the decline will have narrowed with the company seeing potential of slight growth.

LGMG’s stand at APEX Asia 2025.

As such LGMG is not holding back on product development. The company had a new electric 42m working height telescopic boom lift on its stand and said it is testing a new 56m model, representing the quick shift to pure electric products in the country, rather than hybrid and diesel, thanks partly to government policy on emissions and the use of diesel. 

Although the general construction sector is challenging in the country, there are growing opportunities in other sectors confirms XCMG. One of those is shipyards, of which China has many and are ideally suited to specialized boom lifts. XCMG has a trio of new lifts for shipyards including the new telescopic XG528D that will join the existing 32m and 38m models designed for the same reason.

These join a range of other new products announced at the show for the domestic and export markets. They include the company’s first mast lifts with 8m-12.75m working heights - two of which come with jibs. There is also a new 25m working height telescopic crawler boom and 39m working height spider.

Rental plans revealed 

And despite the difficult market conditions in China, there are still some companies rental expanding and seeing opportunities. For example, UP-Rentals in Hangzhou has expanded rapidly in recent years and now has a fleet of 7,500 machines.

Operations director Xu Jiandin told Access International that the fleet would grow to 8,000 machines by the end of the year, and it plans to expand its presence in Zhejiang province from 11 locations to 20 by 2027.

The company’s entire fleet is supplied by Dingli and it is proving successful in winning business on major projects such as airports and exhibition centres.

The increased interest in the Indian access rental market was reflected in a significant number of Indian visitors to the show, many looking for Chinese OEMs as potential suppliers.

Genie sale announced 

During the show news broke of Terex’s plans to put Genie up for sale as the company announced it was merging with specialist vehicle producer REV Group, leading to widespread speculation as to who the buyer could be.

A strong belief among many visitors and exhibitors alike is that the buyer will likely be based in China, allowing such a company to invest in an established footprint in North America and Europe, thus avoiding the tariffs imposed on MEWPs entering the US and EU from China.

There as a flurry of activity and conversation at APEX Asia 2025.

A potential interested party is Infore – a new aerial platform manufacturer launched last year, which was exhibiting at the show.

The company is China’s largest producer of environmental solutions equipment such as garbage trucks and road sweepers, and has an even larger parent company Midea, which specialises in domestic appliances and has an annual turnover of RMB 400 billion (US$55.4 billion), half of which comes from export. 

Earlier this year, the company’s managing director Yu Xiaoyue told Access International that it aimed to become of the world’s largest access OEMs and said, “As a group we have the experience and skills in global acquisitions and have the financial backing that will give support.”

While Infore may not turn out to be Genie’s next parent company, it demonstrated the types of challenges new access players from China are finding in established markets.

The company has use of a factory in Italy, which belongs to its parent company Midea, and says it can ramp up for MEWP production there. However, it will not be an easy task. “It will take a long time as we don’t have a mature supply chain there and we are looking at at least another three years,” said the company at APEX Asia. 

The company has 12 products in its range covering slab scissor lifts and booms. On the way is a 32m working height telescopic boom and a 14m working height articulating model. There is a focus on electric equipment only, with a range of new technologies being introduced with the help of its expertise in electricifation in the environmental sector.

International outlook 

It was clear that most OEM’s at the show were interested in growing their presence internationally. Battery specialist Quimo was looking to expand its exports over the coming years, with 70% of its sales currently being China. Its current export markets are Russia, Korea and Europe, and this year the company is starting to sell in Australia.

IPAF’s stand at APEX Asia 2025.

Having 30 years of battery production experience in the EV bike sector through its parent company Haibao, the company believes it is well placed to provide the market the solutions the world requires.

Quimo moved into lithium products two years ago and believes they will power 50% of the total Chinese MEWP market in the future thanks to the country’s advanced focus on electrification, with lead acid continuing to have a strong presence however in its traditional products. 

OEM Jovoo started in 2022 and is a good example of how a relatively new company is looking to build its presence in export markets specifically. The company has grown its annual revenue to RMB70 million, 95% of which is found outside China.

The company focuses on lower cost products, with a focus on safety. “We have a good price point and because we are small we can customize products easily.” An example is a new bi-levelling lift on wheels that is being co-designed with an end user in Australia.

A new model on the stand was the 16m working heigh V16M boom lift. The 12m-16m M range has recently been launched to offer a lower cost option from the standard range, designed to be less compact and provide space for different branded components as they are available.

“We are focusing on the export market as we are unable to offer long payment terms. We don’t aim to be a big brand but want to provide the required service to our customers.”