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Report

China Elevator and Escalator - Market Size & Growth Forecast 2022-2028

Market Report I 2022-04-14 I 113 Pages I Arizton Advisory & Intelligence

Arizton's report considers the present scenario of the China elevators & escalators market and market dynamics for the forecast period 2022?2028. It covers a detailed overview of several growth enablers, restraints, and trends in the market. The study includes the volume and value sales with a segment analysis of the UAE construction equipment market.

China Elevator and Escalator market by new installations sales is expected to grow at a CAGR of 5.45% during the forecast period (2022-2028).

KEY HIGHLIGHTS IN THE REPORT

- In 2019, over 82% of all elevators installed in China were less than or equal to ten years old.
- According to KONE, by 2025, 65% of all elevators installed would be less than ten years old, resulting in increased demand for new installations of elevators.
- According to the World Economic Forum, more than 500 smart cities are built around China. For instance, the Cloud Valley project launched in April 2021 with a 13 million square feet area that uses Wi-Fi-connected devices and sensors to gather data on everything from people's food habits to pollution.
- China remains a net exporter despite increasing domestic demand. China accounted for 63% of the total elevator new installations market in 2020, followed by Europe, Middle East & Africa.
- Major regions in terms of residential development plus new rail lines & subways are three urban mega-clusters with a lot of growth in the satellite cities around the Beijing-Hebei region and the regions around Shanghai and the Pearl River Delta. Most Chinese provinces still have a very low elevator & escalator density ratio, including several relatively wealthy areas with dense populations. Hence, the pacing regions offer scope for overall density growth in the country.
Due to rapid urbanization, the demand for housing is bound to increase over the forecast period. Governmental initiatives of collaborating with financial institutions to roll out a rent-to-own program are one of the driving forces in demand for housing in the future.

The government started a "build, reconstruct, renovate, and revitalize" program to support lower-income class buyers. Government plans to build 300,000 affordable rental homes by 2025, with around 60,000 completed by 2022. The China government allocated USD 23.6 billion for housing development in the 2021 budget plan.

CHINA ELEVATOR AND ESCALATOR MARKET SEGMENTATION

Segmentation by Type

- Hydraulic and Pneumatic
- Machine Room Traction
- Machine Room Less Traction
- Others

Segmentation by carriage Type

- Passenger
- Freight

Segmentation by Person

- 16-24 Persons
- 25-33 Persons
- 34 Persons and Above

Segmentation by End-User

- Commercial
- Residential
- Industrial and Others

VENDOR ANALYSIS

- The key players in China Elevator & Escalator market are KONE, Otis, Hyundai Elevator, TK Elevator, Mitsubishi Electric, Hitachi, Schindler, Fujitec, and CANNY Elevator Co.
- KONE, Otis, Mitsubishi Electric, and Hitachi are market leaders, accounting for nearly ~57% of the overall China elevator and escalator market share in 2021.
- The market is fragmented in China as both the big OEMs and smaller competitors are active.

Key Vendors

- KONE
- Mitsubishi Electric
- TK Elevator
- Hitachi
- Hyundai Elevator
- Otis
- Fujitec
- Schindler
- CANNY Elevator Co., Ltd.

Other Prominent Vendors

- Kunshan Hualong Elevator
- SJEC
- Analogue Holdings (ATAL)
- SUZHOU JIUDE ELECTRICAL & MECHANIC TECHNOLOGY
- SHENYANG YUANDA INTELLECTUAL INDUSTRY
- IFE ELEVATORS

Section 1 Introduction
- Market Scope
Market Snapshot of Elevators
Market Snapshot of Escalators
- Executive Summary
Section 2 China Elevators Market
Future Outlook: China Elevators Market, By Volume
Section 2.1 China Elevators Market, By Volume
China Elevators Market Size and Forecast, Volume (Units in Thousands)
Section 2.1.1 China Elevators Market- By Segments
2.1.1.1. China Elevators Market, By Type
Hydraulic and Pneumatic, Market Size and Forecast, Volume (Units), 2019-2028
Machine Room Traction, Market Size and Forecast, Volume (Units), 2019-2028
Machine Room Less Traction, Market Size and Forecast, Volume (Units), 2019-2028
Others, Market Size and Forecast, Volume (Units), 2019-2028
2.1.1.2. China Elevators & Escalators Market by Carriage Type
Passenger, Market Size and Forecast, Volume (Units), 2019-2028
Freight, Market Size and Forecast, Volume (Units), 2019-2028
2.1.1.3. China Elevators Market by Persons
2-15 Persons, Market Size and Forecast, Volume (Units), 2019-2028
16-24 Persons, Market Size and Forecast, Volume (Units), 2019-2028
25-33 Persons, Market Size and Forecast, Volume (Units), 2019-2028
34 Persons and Above, Market Size and Forecast, Volume (Units), 2019-2028
2.1.1.4. China Elevators Market by End Users
Commercial, Market Size and Forecast, Volume (Units), 2019-2028
Residential, Market Size and Forecast, Volume (Units), 2019-2028
Industrial, Market Size and Forecast, Volume (Units), 2019-2028
Others, Market Size and Forecast, Volume (Units), 2019-2028
Section 3 China Escalators Market
Future Outlook: China Escalators Market, By Volume
Section 3.1 China Escalators Market, By Volume
China Escalators Market Size and Forecast, Volume (Units), 2019-2028
Section 3.1.1 China Escalators Market- By Segments
3.1.1.1 China Escalator Market by Type
Parallel, Market Size and Forecast, Volume (Units), 2019-2028
Multi-Parallel, Market Size and Forecast, Volume (Units), 2019-2028
Walkway, Market Size and Forecast, Volume (Units), 2019-2028
Crisscross, Market Size and Forecast, Volume (Units), 2019-2028
3.1.1.2 China Escalator Market by End users
Commercial, Market Size and Forecast, Volume (Units), 2019-2028
Public Transit, Market Size and Forecast, Volume (Units) , 2019-2028
Others, Market Size and Forecast, Volume (Units), 2019-2028
Section 4 China Elevators & Escalators Market, by Service (Maintenance & Modernization)
Section 5 Geographic Analysis
Section 6 Advantages, Policies, Export & Import
Section 7 Market Dynamics
Section 8 Technological Development
Section 9 Competitive Landscape
1. Major Vendors
2. Other Prominent vendors

Section 10 Report Summary
1. Key Insights
2. List of Abbreviations

Section 11 Appendix (Definition, Inclusions & Exclusions)
1. Research Methodology
2. Market Definition, Inclusion & Exclusion

LIST OF EXHIBITS

1. China constitutes largest new installations market in 2021
2. Exponential infrastructure investments vs emerging markets 2021-2040
3. China's increasing elevator density to show promising new installations market
4. Business mix sales 2021
5. Elevators & escalators, installed base 2021-2028 (units in TH)
6. Elevators & escalators, new installations 2021-2028 (units in TH)
7. Market share 2021, maintenance
8. Market share 2021, modernization
9. Total installed base, volume (units in TH)
10. Total new installations, volume (units in TH)
11. Global elevator & escalator market, product & service, 2021
12. Region vs china maintenance market 2021
13. Elevators installed base, volume (units in TH)
14. Elevators new installations, volume (units in TH)
15. Elevators, maintenance & modernization, value ($ billion)
16. Elevators, maintenance & modernization, 2021 (%)
17. Elevators - new installations, by machine, 2021 (%)
18. Elevators - new installations, by capacity (persons), 2021 (%)
19. Escalators installed base, volume (units in TH)
20. Escalators new installations, volume (units in TH)
21. Escalators, maintenance & modernization, value ($ billion)
22. Escalators, maintenance & modernization, 2021 (%)
23. Escalators - new installations, by type, 2021 (%)
24. Escalators - new installations, by end users, 2021 (%)
25. Elevators installed base and new installations (units in TH)
26. Elevators new installations (units in TH)
27. Number of buildings completed in 2020 with a height of 200 m or greater
28. Age of elevator leads to surge in maintenance and modernization
29. Average life expectancy of an elevator component
30. Key focus area
31. New installation by machine, 2021 vs 2028
32. Hydraulic & pneumatic elevators, installed base and new installations (units in TH)
33. Machine room-less traction elevators, installed base and new installations (units in TH)
34. Machine room traction elevators, installed base and new installations (units in TH)
35. Other machine elevators, installed base and new installations (units in TH)
36. Carriage, new installation 2021 vs 2028
37. Passenger elevators, installed base and new installations (units in TH)
38. Freight elevators, installed base and new installations (units in TH)
39. Capacity (persons), new installation 2021 vs 2028
40. 2-15 persons elevators, installed base and new installations (units in TH)
41. 16-24 persons elevators, installed base and new installations (units in TH)
42. 25-33 persons elevators, installed base and new installations (units in TH)
43. 34 persons and above elevators, installed base and new installations (units in TH)
44. End user, new installation 2021 vs 2028
45. China real estate development peaks
46. Commercial elevators, installed base and new installations (units in TH)
47. Residential elevators, installed base and new installations (units in TH)
48. Industrial elevators, installed base and new installations (units in TH)
49. Other end-user elevators, installed base and new installations (units in TH)
50. Escalators, installed base and new installations (units in TH)
51. Escalators, new installations (units in TH)
52. By product, new installation 2021 vs 2028
53. Parallel escalators, installed base and new installations (units in TH)
54. Multi parallel escalators, installed base and new installations (units in TH)
55. Moving walkways escalators, installed base and new installations (units in TH)
56. Crisscross escalators, installed base and new installations (units in TH)
57. By end user, new installation 2021 vs 2028
58. Public transit escalators, installed base and new installations (units in TH)
59. Commercial escalators, installed base and new installations (units in TH)
60. Other end user escalators, installed base and new installations (units in TH)
61. Maintenance market by elevators & escalators ($ bn)
62. China maintenance value vs row, 2021
63. Maintenance market share, units 2018
64. Modernization market by elevators & escalators ($ bn)
65. Modernization provides opportunities for upgrading buildings
66. Increasing investments leads to rise in lower tier cities
67. Top city cluster share 2021
68. Chinese urban population 2015-2020 (% of total population)
69. Sales growth rate of commercial buildings sold
70. Market share 2020 (% share)
71. Kone, total sales by segment 2020 (% share)
72. Mitsubishi electric, total sales by segment 2020 (% share)
73. Hitachi, total sales by segment 2020 (% share)
74. Schindler, total sales 2017-2020

LIST OF TABLES

1. Number of Skyscraper in China
2. By Machine, New Installations, Total Incremental Opportunity, 2021-2028
3. By Carriage Type, New Installations, Total Incremental Opportunity, 2021-2028
4. By Capacity (Persons), New Installations, Total Incremental Opportunity, 2021-2028
5. By End User, New Installations, Total Incremental Opportunity, 2021-2028
6. Standard Commercial Lift Sizes
7. By Product, New Installations, Total Incremental Opportunity, 2021-2028
8. By End User, New Installations, Total Incremental Opportunity, 2021-2028
9. Top city cluster share 2021
10. Increasing infrastructural project in residential and commercial sectors
11. Real Estate & Construction Investment Policies
12. Recent developments

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