China Smart Elevator Market, By Component (Control Systems and Communication Systems), By Application (Residential, Commercial, Industrial, Institutional, Others), By Service, By Region, Competition, Forecast & Opportunities, 2024

The Chinese Smart Elevator Market is expected to grow at a CAGR of over 20% until 2024. 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 2018, 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.

Years considered for this report:

• Historical Years: 2014-2017
• Base Year: 2018
• Estimated Year: 2019
• Forecast Period: 2020–2024

Objective of the Study:

• To analyze and forecast the market size of smart elevator market.
• To classify and forecast the Chinese Smart Elevator Market based on Component, Application, Service and Regional Distribution.
• To identify drivers and challenges for the Chinese Smart Elevator Market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Chinese Smart Elevator Market.
• To identify and analyze the profile of leading players involved in the manufacturing of China smart elevator.

Some of the leading players in the Chinese 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.

Both primary as well as exhaustive secondary research was performed for this study. Initially, They sourced a list of collaboration key vendors across the China. Subsequently, researchers conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, they could include the key vendors which could not be identified due to the limitations of secondary research. Researchers analysed the service offerings, distribution channels and presence of all major collaboration key vendors across the China.

Researchers calculated the market size of the Chinese Smart Elevator Market by 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. They 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.

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 the market opportunities.

Report Scope:

In this report, the Chinese 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:

• East China Provinces
• South & Central China Provinces
• North & Northeast China Provinces
• West China Provinces

Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Chinese Smart Elevator Market.

Available Customizations:
With the given market data, the author offers customizations according to a client’s specific needs.