FOR IMMEDIATE RELEASE
Pressnews.biz (Press Release) Dec 2, 2014
-- China Elevator and Escalator Industry Outlook to 2017 – Affordable Housing to Bolster Demand” provides a comprehensive understanding of the market size of China Elevator and Escalator Industry on the basis of new equipments installed, revenue generated from new installations and maintenance and modernization. The report provides a brief overview of elevators sales in China by machinery types, door types, by carriage types and by end usage. The report also entails the market share and company profiles of major players operating in Elevator and Escalator Industry business in China. The report also provides the major trends and developments of the Elevator and Escalator Industry in China over the years. Future analysis of this market in the country is provided on the basis of revenue and new installations over the next five years.
Fast paced urbanization, improvement in the people living standard, augmenting migration to the metropolitan cities particularly on the east coast of China coupled with the incidence of affordable housing has in turn necessitated the development of residential sector in the country over the years, thereby providing significant impetus to the market for elevators and escalators in China. A significant portion of the elevator and escalator demand has been further contributed by the inclining mall culture in the country which has picked up considerable momentum over the past decade. Additionally, as a part of the government planning many cities in the country has upcoming metro rail projects most of which are due for completion in the coming 4 to 5 years, thereby showcasing the bright prospects for the escalator market in the country in the future. Other important factors fuelling growth in the demand for vertical transit in the country included the hospitality sector, commercial complexes, multiplexes and others.
Over the years, it has been observed that the China elevators and escalators market, although slow, has been increasingly focusing upon the installation of energy efficient and high quality advanced machines. MRL elevators have showcased growth at the rate of 20% over the past few years. In 2012, China elevator and escalator industry reported total sales of ~ new equipments. The industry witnessed a mild slowdown in new equipment sales during the recessionary period of 2008 and 2009. However, a tremendous growth was encountered in the following years on account of effective fiscal measures taken by the Chinese government towards restoring the country’s economic prosperity. In 2012, hydraulic elevators recorded an extremely lower share of ~% in the total number of elevators installed in China, with total installations amounting to ~ units. The present market for elevators in China has been majorly dominated by gearless technology elevators which holds nearly ~% share in the market of new installations
The elevator and escalator market in the country has been largely bifurcated into two segments including new equipment installations and services, which are primarily composed of maintenance and modernization. Elevators claimed a massive share of ~% in China’s vertical transit space followed by escalators with ~ % share and moving walkways with ~% share in 2012. Residential segment extensively accounts for the largest share of ~% in elevators installations in China followed by public infrastructure with ~% share, malls and commercial office buildings with ~% share and hotels with ~% share in the market. On the other hand, escalators market in the country is majorly tapped by malls accounting for ~% share in new equipment installations. Public infrastructure, offices and other commercial complex together held ~% share in the market followed by hotels with ~% share as of 2012.
The elevator and escalator industry in China remains highly concentrated with only a few major players operating in the space. Giant Kone, Shanghai Mitsubishi, Otis, Schindler, ThyssenKrupp, Hyundai, Hitachi and others are some of the major players existing in the elevator and escalator market in the country. Apart from the aforementioned players, there are also some regional players involved in the production of elevators such as Canny elevators, Shenyang Brilliant, SJEC and others, capturing nearly ~% share in the market while the majority being commanded by the MNC’s as witnessed during the year 2012.