China Facility Management Market to Reach $ 124 Billion by 2023
Rapid infrastructure development along with increasing demand for customized facility management services in Tier 1 and Tier 2 cities to propel demand for facility management in China through 2023
According to recently published TechSci Research report “China Facility Management Market By Insource Vs Outsource, By Organized Vs Unorganized, By Service, By Application, Competition Forecast & Opportunities, 2023’’, China facility management market is projected to reach $ 124 billion by 2023 on account of growing commercial & industrial sectors coupled with increasing government investments in the country’s real estate sector. Moreover, technological advancements resulting in high cost savings and return on investment (ROI) are further likely to steer growth in China facility management market. CBRE Group, Inc. & ISS Group accounted for the largest shares in China facility management market in 2017 and are likely to maintain their dominance through 2023 as well. Other major market players include Jones Lang LaSalle Incorporated (JLL), Sodexo, and Colliers International Property Services Ltd., among others.
Browse 35 market data Figures spread through 77 Pages and an in-depth TOC on "China Facility Management Market"
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Among services, China facility management market is dominated by cleaning services as these services are widely used in commercial and industrial sectors. Commercial sector accounted for the largest application share, in terms of value, in China facility management market in 2017 and is likely to maintain its dominance throughout the forecast period as well. A large demand for facility management emanates from East China which can be attributed to a large number of commercial offices and industries across the region. However, North region of China is anticipated to grow at the fastest CAGR in the country’s facility management market during the forecast period.
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"Factors such as growing number of mergers & acquisitions by international as well as domestic companies, government incentives to first time buyers and upgraders in residential sector is pushing demand for facility management in China. Moreover, rising shift towards green buildings for sustainable future along with growing demand for customized facility management services in tier 1 and tier 2 cities is further likely to positively influence China facility management market in the coming years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“China Facility Management Market By Insource Vs Outsource, By Organized Vs Unorganized, By Service, By Application, Competition Forecast & Opportunities, 2023” has evaluated the future growth potential of China facility management market and provides statistics and information on market size, structure and trends. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decision. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in China facility management market.
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