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China Elevator Industry Report, 2006-2007 (Chinese Version)
Research In China, Jan 2007, Pages: 130
Currently, the output of China elevator industry grows rapidly. In 2005, the annual output of elevators in mainland China increased to 135,000 from 110,000 of 2004, up by 22.7% year-on-year. Compared to 1980, it increased by 59 times at an average annual growth rate of 17.8%. Mainland China exported 14,000 elevators to 97 countries and regions and imported more than 2,200 elevators in 2005.
By the end of Sep 2006, there are over 300 elevator enterprises that have attained elevator manufacturing license in China. Presently, the industry profits are tending to decline due to the increasingly fierce competition among elevator enterprises and, the medium-small manufacturers only account for 20% of market shares. Elevator enterprises should take measures on industrial development, product, market, marketing so as to realize the sustainable development.
During 2005-2006, the profit level of the elevator industry maintains stable, however, the industrial profitability is negatively affected by the decrease of market demand and rampant competition. Regarding market concentration, although the market shares of the top four elevator manufacturers keep high, the number of elevator enterprises is also experiencing an incredible increase.
As far as market competition concerned, there are many influencing factors. The increase of enterprise number, the sharp increase of output and the entrance of foreign-funded enterprises are leading factors. In addition, the highly elastic price, the apportionment of fixed assets and the proportion of varying cost enable the price to have decreasing ability and space, which can also intensify the already rampant competition. And the competition in terms of price, promotion, product and differentiated services will still last quite a long time.
According to the industrial operation and government's related outlines, the elevator industry will develop towards an industry of energy saving, application of new technologies, performance improvement and integration of enterprises and brands.
Elevator purchasing channels and modes will undergo great changes in the future and either the government or the developer will take the domestic elevator brands into account instead of only targeting at foreign well-known brands. The price of residential elevator of Mitsubishi, Otis, Hitachi, KONE, and Schindler will have potential for price decrease, and the price of other brands also could become reasonable after negotiation and integration.
Please note this report is currently only available in Chinese. However, if you wish to obtain an English version, a translation service is available which will take 3-5 working days.
For further information, please click 'enquire before buying'.
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