DESCRIPTION
This Access Asia report analyses the market for elevators (or lifts) in China, and the background construction market in sectors such as airports, retail, hotels, transport and housing. The report also explores the impact of the Beijing 2008 Olympics.
EXTRACT FROM INTRODUCTION'
This Access Asia report covers the market for elevators (lifts) and elevator services in the People's Republic of China. The report concentrates on elevators installed in residential housing or public/semi-public spaces such as airports, commercial buildings, retail malls, hotels, other transport termini etc. The report does not largely cover installations in industrial settings such as factories, docks, granaries etc.
...In 1996, China became the largest elevator (lift) market in the world. China has also emerged as one of the three leading elevator-manufacturing nations globally (along with the USA and Japan), a process that has occurred largely through inward investment by Taiwanese, American and Japanese companies as well as growing domestic demand for elevators. Indeed, Asia as a whole is the major continental market for elevators, accounting for 50% of total worldwide sales currently.
The world's major elevator manufacturers have all established representative offices and/or joint ventures and production facilities in China including Otis, Schindler, Mitsubishi, Hitachi, Toshiba and ThyssenKrupps.
The growth in demand for elevators has emerged since China's economic reforms and open-door policy were launched under Deng Xiaoping in the 1980s. The construction industry has become one of the main beneficiaries of these reforms with new building taking place across China, both residential, commercial, hotel and retail space. Cranes have become a fixture of the skyline of all China's major cities.
This means that China has a significant market for high-quality and high-speed elevators. The number of high-rise buildings is growing rapidly. In Beijing, there are now at least a dozen high rises over 100 meters high.
Currently, China's total building projects account for approximately one-fourth of the world's total. Despite the boost to the construction industry in China, the country still has the world's greatest potential elevator market. The major markets within China are currently Beijing, Shanghai, Chongqing, Guangzhou and Shenzhen (the latter two in Guangdong province).
The Chinese elevator market is now increasingly being characterised by a strong link between new installations and after-sales activity, with demand for services growing faster than new installations as the country develops. Currently 50% of the business volume in the China elevator market is generated by after-sales activity. This is perhaps not surprising when it is noted that the Beijing Municipal Bureau of Technical Supervision estimates that at least 1,000 elevators in the city are running with defects at any one time.
With China's accession to the World Trade Organisation imminent, the liberalisation of the residential housing market underway and the Beijing 2008 Olympic Games now assured, the construction market appears set for a further boom.
| 
View Cart
