Summary
The
accelerating urbanization, large-scale construction of indemnificatory housing
and rapid development of public transportation in large and medium-sized cities
in China slow the decline of elevator sales in commercial housing market to a
certain extent. Since 2013, China elevator industry has kept a rapid growth
momentum, with the output numbering 625,000 sets, up 18.15% year on year,
registering a CAGR of 22.52% over the past decade (2003-2013).
Local
elevator brands grabbed more market share. By virtue of stable layout in
medium- to low-end markets and financing via IPOs in capital market, China's
domestic elevator brands swept more and more market shares year after year,
from about 20% in 2000 to 45% in 2013.
Thanks to
steady growth of market demand, listed elevator companies experienced
remarkable growth in performance. Except Shenyang Brilliant Elevator Co., Ltd.,
major local Chinese elevator companies saw approximate 20% increase in their
revenue during 2013-2014, with the growth rate of net income outpacing that of
revenue. Guangzhou Guangri Stock Co., Ltd. stood out from its peers, earning
revenue of RMB 846 million, up 19.35% from a year earlier, and net income of
RMB 90 million, a year-on-year jump of 31.87% in Q1 2014.
Elevator
manufacturers earned more money from maintenance service. In recent years,
local elevator companies have been actively expanding production, and the
revenue from maintenance service has been climbing slowly at the same time.
Among major local elevator players, Shenyang Brilliant Elevator Co., Ltd. now
enjoys the highest maintenance revenue proportion. In 2013, the company earned
revenue of RMB 280 million from maintenance service, rising by 31.4% year on
year and accounting for 16.9% of its total revenue, compared with 9.1% in 2010.
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The concentration ratio of elevator industry is likely to rise further in
future. The Special Equipment Safety Law of People's Republic of China (Repair
& Maintenance Policy) took effect nationwide in January 2014; the Notice on
Strengthening the Work of Elevator Manufacturing, Installation, Transformation
License and Type Test (policy on test tower) was introduced across the country
on April 30, 2014. The implementation of the two policies will improve the
thresholds for accession into the elevator industry, and speed up industry
concentration, especially among domestic brands.
Global and
China Elevator Industry Report, 2014 focuses on the following aspects:
·
Status quo of global elevator industry development,
competitive landscape of companies and maintenance market.
·
Competitive landscape of China elevator industry,
including business layout of foreign brands in China and competition between
foreign and domestic brands.
·
Supply structure, new elevator output and
maintenance market of China elevator industry.
·
Demand structure, demand and main influencing factors
of China elevator industry.
·
Value, volume and prices of imported and exported
elevators in China.
·
Product output and sales volume, operation, main
projects and orders of 7 global and 8 Chinese elevator manufacturers.
·
Development trend, output and export volume forecast
of China elevator industry.
Table of Contents
1 Overview of Elevator Industry
1.1 Overview
1.2 Policy Environment
1.2.1 Laws, Regulations and Policies
1.2.2 Analysis of Policy on Testing Tower
1.2.3 Analysis of Policy on Service Market
1.1 Overview
1.2 Policy Environment
1.2.1 Laws, Regulations and Policies
1.2.2 Analysis of Policy on Testing Tower
1.2.3 Analysis of Policy on Service Market
2 Global Elevator Industry Development
2.1 Status Quo
2.2 Competition among Enterprises
2.3 Service Market
2.1 Status Quo
2.2 Competition among Enterprises
2.3 Service Market
3 Competitive Landscape of China Elevator Industry
3.1 Development of Foreign Elevator Brands in China
3.2 Market Competition
3.2.1 Competition between Foreign and Domestic Brands
3.2.2 Competition among Foreign Brands
3.2.3 Competition among Domestic Brands
3.3 Enterprises’ Financial Performance
3.1 Development of Foreign Elevator Brands in China
3.2 Market Competition
3.2.1 Competition between Foreign and Domestic Brands
3.2.2 Competition among Foreign Brands
3.2.3 Competition among Domestic Brands
3.3 Enterprises’ Financial Performance
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