China Smart Elevator Market By Component (Control Systems (Security Control System, Elevator Control System, Access Control system), and Communication Systems), By Application (Residential, Commercial, Industrial, Institutional, Others), By Service (New Installation, Modernization, Maintenance), By Region, Competition, Forecast & Opportunities, 2026

China smart elevator market was valued over USD2.2 billion in 2019 and is expected to grow at a CAGR of over 20% until 2026. 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 2020, 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.

China smart elevator market is segmented by component, application, service, and region. Based on application the market is further fragmented into residential, commercial, industrial, institutional, and others. Residential application of smart elevator system dominates the market in the historical years and is expected to grow in forecast years too. This domination is owed to the increasing investments in residential infrastructure by the government. Moreover, the construction and real-estate industry is booming, coupled with increased demand for advanced technology systems and rapid urbanization, thus, supporting the growth of the market in the forecast period of 2022-2026.

Some of the leading players in the China 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. Market sees an industrial inclination toward green technology that offers a wide area for introduction to latest technology in smart elevators.

Years considered for this report:

Historical Years: 2016-2019

Base Year: 2020

Estimated Year: 2021

Forecast Period: 2022–2026

Objective of the Study:

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

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

TechSci Research calculated the market size of China Smart Elevator 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. TechSci Research 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 by TechSci Research.

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 market opportunities.

Report Scope:

In this report, China 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:

o    East China Provinces

o    South & Central China Provinces

o    North & Northeast China Provinces

• West China Provinces

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in China Smart Elevator market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

Profit Margin Analysis