Navi Mumbai, Maharashtra India (PressExposure) July 10, 2007 -- Bharat Book Bureau, a leading market information distributor has put forth a report 'Elevators in China forecasts for 2011 & 2016' ([http://www.bharatbook.com/detail.asp?id=46968]) Demand increases will continue to outpace those of other major markets, benefiting from strong gains in building construction expenditures. An increasing elevator/escalator installed base will also contribute to market gains as it implies significant opportunities for service-related maintenance/ repair business.
Elevators to remain the largest product segment
Passenger/freight elevators will continue to dominate the product segment, accounting for over three-fifths of demand in 2011, with passenger elevators accounting for the majority of product sales. Traction type elevators will continue to represent the lionâs share of the elevator market, as they feature faster and higher transmission capabilities than hydraulic counterparts. However, escalators are expected to see better growth prospects than elevators over the forecast period. Department stores, multilevel shopping malls and large supermarkets will be among the bedrock markets for escalators. Moreover, these products are increasingly popular in transportation facilities such as airports, train and bus terminals, and subway stations.
Maintenance/repair to dominate services sector
Maintenance/repair is expected to account for over three-quarters of total service demand in 2011. Growth will outpace that of installation through the forecast horizon, fueled by the large number of new elevator/escalator systems installed during the last decade, which will create a steady stream of maintenance/ repair aftermarket business during upcoming years. In addition, major renovations/upgrades (classified under maintenance/repair in this study) will also contribute to market gains, as numerous building owners upgrade existing elevator/escalator systems to incorporate the latest technological advances along such parameters as improved safety and enhanced performance characteristics.
Nonresidential buildings to remain largest market
The overall market for elevator/escalator products and services in the nonresidential building sector will continue to account for nearly two-thirds of demand through 2011. Each of the major nonresidential building types -- offices, retail establishments, government/institutional facilities, industrial facilities, lodging and other commercial buildings, and transportation facilities -- offer various opportunities for elevator/escalator products and services. The residential building sector is expected to record sizable gains as well, benefiting from continued strength in residential construction activities, especially in multifamily buildings -- a result of continuously rising income levels and further urbanization.
Opportunities vary by region
China consists of many distinct regional markets, characterized by varying economies, cultural norms and languages. The Central-East region will continue to remain the largest regional elevator/ escalator market, accounting for more than two-fifths of total demand in 2011. This region will also see the most rapid regional demand growth, aided by rising construction expenditures and higher living standards. Market advances in the Central-North will outpace the national average as well, benefiting from favorable business conditions.
Elevators in China is a new Freedonia industry study available for $4900. It presents historical demand data for the years 1996, 2001 and 2006 plus forecasts for 2011 and 2016 by product, service, market and region. In addition, the study considers market environment factors, evaluates company market share data and profiles 30 Chinese industry competitors.