China Elevator And Escalator Market (2019-2025) | Size, Growth, Revenue, Outlook, Share, Analysis, Trends, Value, Industry, Segmentation & COVID-19 IMPACT

China Elevator And Escalator Market | Country-Wise Share and Competition Analysis

On the basis of value, Sweden was the leading importer of China Elevator and Escalator Market in 2021, followed by Japan. The country has registered a decline of -7.21% over the past few years, while Japan has registered a decline of 40.73%. Japan emerged as a major importer of the market in 2017, followed by Sweden. The graph given below demonstrates the growth of Sweden as a leading importer of elevator and escalator in China in the past few years and how the dominance of Japan changed from a leading importer to the second major importer. As per Herfindahl Hirschman Index (HHI), China possesses the Herfindahl index of 3721 in the year 2017 which shows high concentration. In 2021, the country registered a Herfindahl Index of 2766 also shows a high concentration in the market. Based on the graph, Sweden is likely to dominate the market as a major importer in the future.

China Elevator And Escalator Market - Export Market Opportunities

The countries mentioned in this graph are the potential markets for China. The export opportunities for China in these countries will grow more with time. Higher the capability, the lesser the chance for export opportunities and the market size. The forecast attractiveness of the year 2027 is calculated on the basis of forecast GDP growth rates. The United States is the major potential market for China to export elevators and escalators, followed by the United Kingdom, France, and Australia.

Latest 2023 Developments of the China Elevator and Escalator Market

The China Elevator and Escalator Market is growing since the demand for elevators and escalators is rising in the country. The number of players in the market is growing, which is stimulating the progression of the market. Domestic players like Otis, Schindler, and KONE have dominated the market but they are still facing competition from local manufacturers like SJEC Corporation. There is also a rising focus on innovation in the China Elevator and Escalator Industry as players introduce new technologies in order to enhance efficiency as well as maintain safety standards. For instance, manufacturers in the country unveiled an elevator that has the potential to travel horizontally and vertically. Emphasis on safety regulations is another essential development of the sector. The sector will continue to progress more and more in the near future.

Topics Covered in the China Elevator and Escalator Market Report

The China Elevator and Escalator Market report thoroughly covers the market by types, applications, and services. The report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Mergers and Acquisitions:

• Thyssenkrupp sold its elevator technology business to a confederation led by Cinven, Advent, and RAG Foundation (Feb 2020)

China Elevator and Escalator Market Synopsis

China Elevator and escalator market are largely characterized by the unique nature of a developing market reaching its saturation. The China elevator and escalator market are expected to witness steady growth over the coming years with the majority of growth being driven by development in tier 2 and 3 regions of Chengdu and Wuhan. China Elevator called Lift in British English is a type of transport equipment that can easily carry passengers and can simply freight between the multistory building. There is a modern elevator with an electric motor with a counterweight system of cables and sheaves. Elevators include escalators for the moving walkways. An escalator is a moving staircase used in different sectors such as buildings, and subways. According to the research elevator and escalator market will grow more in the upcoming years in the country. The demand going to increase in china for the elevator and escalator revenue also generated a lot in the market. 

According to 6Wresearch, China Elevator And Escalator Market size is projected to grow at a CAGR of 1.9% during 2019-2025. With the majority of the construction boom coming to an end in the major metro cities of China, the growth of the elevator and escalator market is expected to be driven by the development in the western China region and the implementation of policies such as the Go west strategy have already added to the economic prosperity of a region. Additionally, initiatives such as Belt Road are also likely to give a boost to the construction activities in the region. The surging population and growing urbanization coupled with increasing construction and infrastructure activities are driving the growth of the market. Additionally, growing investment in the residential and non-residential sectors is proliferating the China Elevator and  Escalator Market Share.

China Elevator and Escalator Market: Key Players

Some of the most prominent players that help effectively in the smooth functioning of the Elevator and Escalator Market in China are:

• Otis Elevator Company
• KONE Corporation
• Schindler Group
• Mitsubishi Electric Corporation
• Thyssenkrupp AG
• Toshiba Elevator & Building Systems Corp.

Market Analysis by Services

On the basis of services, the Chinese market will continue to witness the dominance of new installations and these will act as the major contributor to the revenue generation. However, the growth rate of the new installation market is expected to slow down over the coming years and is likely to be overtaken by the modernization and maintenance segment due to the majority of the installed base reaching its maturity point. Further, the increasing number of accidents has raised the demand for modernization and maintenance of these aging installed bases. China also saw the introduction of new safety regulations which is further anticipated to give a boost to the modernization and maintenance segment.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2015 to 2018.
• Base Year: 2018.
• Forecast Data until 2025.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report

• China Elevator and Escalator Market Overview
• China Elevator and Escalator Market Outlook
• China Elevator and Escalator Market Forecast
• China Elevator and Escalator Market Size and Historical Data of China Elevator and Escalator Market Revenues & Volume for the Period 2015-2018
• China Elevator and Escalator Market Forecast of Revenues & Volume until 2025
• Historical data & Forecast of China Elevator and Escalator Market Revenues, By Types, Applications, and Services for the Period 2015-2025F
• Historical data & Forecast of China Elevator Market Revenues & Volume for the Period 2015-2025F
• Historical data & Forecast of China Escalator Market Revenues & Volume for the Period 2015-2025F
• Historical data & Forecast of China Elevator Market Revenues, By Types, Applications, and Services for the Period 2015-2025F
• Historical data & Forecast of China Escalator Market Revenues, By Types, Applications, and Services for the Period 2015-2025F
• Historical data & Forecast of China Elevator and Escalator Regional Market Revenues for the Period 2015-2025F
• Market Drivers, Restraints, and Trends
• China Elevator and Escalator Market Trends and Industry Life Cycle
• Porter’s Five Force Analysis
• China Elevator and Escalator Market Opportunity Assessment
• China Elevator and Escalator Market Share, By Players
• China Elevator and Escalator Market Overview, By Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Markets Covered

The China elevator and escalator market report provides a detailed analysis of the following market segments:

By Types

• Elevator
  • Passenger
  • Cargo
  • Home
• Escalator
  • Moving Stairs
  • Moving Walks

By Applications

• Commercial
• Residential
• Industrial

By Services

• New Installations
• Maintenance
• Modernization

China Elevator And Escalator Market: FAQs