China smart elevator market was valued
over USD2.2 billion in 2019 and is expected to grow at a CAGR of over 20% until
2026. The major factors that are driving the market are growing need for
integrated security, energy efficient, wireless technology and safety systems coupled
with decreasing operational cost. Moreover, in 2020, services segment dominated
the country’s smart elevator market and is expected to maintain its dominance
over the next five years. Based on region, East China provinces region is
expected to account for the largest market share during the forecast period due
to government initiatives to further push smart, zero energy and faster elevators.
China smart elevator market is
segmented by component, application, service, and region. Based on application
the market is further fragmented into residential, commercial, industrial,
institutional, and others. Residential application of smart elevator system
dominates the market in the historical years and is expected to grow in
forecast years too. This domination is owed to the increasing investments in
residential infrastructure by the government. Moreover, the construction and
real-estate industry is booming, coupled with increased demand for advanced
technology systems and rapid urbanization, thus, supporting the growth of the
market in the forecast period of 2022-2026.
Some of the leading players in the
China Smart Elevator market are Shanghai Mechanical &
Electrical Industry, Canny Elevator, SJEC Corporation, Hitachi Elevator (China),
Kone Corporation, Fujitec, thyssenkrupp, Schindler, Otis Elevator, Hyundai
Elevator, etc. Market sees an industrial inclination toward green technology
that offers a wide area for introduction to latest technology in smart
elevators.
Years
considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022–2026
Objective of the
Study:
- To analyze and forecast the
market size of smart elevator market.
- To classify and forecast China smart elevator based on Component, Application, Service and Regional Distribution.
- To identify drivers and
challenges for China smart elevator market.
- To examine competitive
developments such as expansions, new product launches, mergers &
acquisitions, etc., in China smart elevator.
- To identify and analyze the
profile of leading players involved in the manufacturing of China smart elevator.
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TechSci Research performed both primary
as well as exhaustive secondary research for this study. Initially, TechSci
Research sourced a list of collaboration key vendors across the China.
Subsequently, TechSci Research conducted primary research surveys with the
identified companies. While interviewing, the respondents were also enquired
about their competitors. Through this technique, TechSci Research could include
the key vendors which could not be identified due to the limitations of
secondary research. TechSci Research analysed the service offerings,
distribution channels and presence of all major collaboration key vendors
across the China.
TechSci Research calculated the market size of China Smart Elevator using a bottom-up approach, where data for various end
user industries and its application across various product types were recorded
and forecast for the future years. TechSci Research sourced these values from
the industry experts and company representatives and externally validated
through analysing historical data of these product types and applications for
getting an appropriate, overall market size. Various secondary sources such as
company website, news articles, press releases, company annual reports,
investor presentations and financial reports were also used by TechSci
Research.
Key Target
Audience:
- System
Integrators/Migration Service Providers
- Support
& Maintenance Service Providers
- Network
security Providers
- System
Design & Development Vendors
- Market
research and consulting firm.
The study is useful in providing answers
to several critical questions that are important for the industry stakeholders
such as collaboration key vendors, distributors and partners, end users, etc.,
besides allowing them in strategizing investments and capitalizing on market
opportunities.
Report Scope:
In this report, China smart elevator market
has been segmented into following categories, in addition to the industry
trends which have also been detailed below:
- Market, By Component:
- Control Systems (Security Control System,
Elevator Control System, Access Control system)
- Communication Systems
- Market, By Application:
- Residential
- Commercial
- Institutional
- Industrial
- Others
- Market, By Service:
- New Installation
- Maintenance
- Modernization
- Market, by
Region:
o East China Provinces
o South & Central China Provinces
o North & Northeast China Provinces
Competitive
Landscape
Company Profiles: Detailed analysis of the major
companies present in China Smart Elevator market.
Available
Customizations:
With the given market data, TechSci
Research offers customizations according to a company’s specific needs. The
following customization options are available for the report:
Company Information
- Detailed
analysis and profiling of additional market players (up to five).
Profit Margin Analysis
Profit margin
analysis in case of direct and indirect sales channel.