Elevator industry: the era of steady growth, the transformation is the time to break
China is now the world's largest elevator producer and consumer countries. Chinese production and consumption in the world accounting for the elevator has reached more than 60% in 2015 annual output of nearly 800,000 elevators, the average price of 200,000 yuan per unit basis, is already a one hundred billion market. However, China's per capita elevator ownership still lags behind the developed countries and regions, in the long run, China's elevator holdings still large room for improvement.
Base stock and downstream economy, promote the industry entered a stable growth phase. Production and sales of the new ladder slowdown, partly because the domestic elevator industry after nearly 10 years of 20% average annual growth, elevator production increased nearly six-fold by the end of 2015 is expected to lift ownership will exceed 4.3 million units, with the stock expand the base of the industry from the original outbreak of the growth phase into a stable growth phase. On the other hand, as the elevator industry leading downstream, the real estate industry boom lift demand associated with strong. With the real estate market boom drop, housing a total construction area of growth is declining, slowing industry demand.
Rail, security room, transformation of the old staircase needs new hedge part of downward pressure. Elevator downstream demand in more than half of the total demand for commercial and residential elevators, there are about 30-40% of the demand and the real estate industry is not associated. New demand and the real estate slowdown contrast, sales of elevators in rail transportation, housing and security in several areas of the old staircase renovation etc. showing high growth, increased demand for a certain decline in demand for traditional hedging, next 3--5 years new ladder sales growth can be maintained at 5-10%.
After installing the maintenance market is expected to usher in the explosive. 2015 national will produce 4.3 million elevators Maintenance revenue size of at least 200 billion yuan, more than 15 years and with the running of the elevator, and gradually enter the high maintenance costs of the stage, the size of this market is still climbing after growth. Meanwhile, the elevator maintenance market after the form is changing, for security and regulatory reasons, more and more inclined to choose the elevator owners elevator factory for professional maintenance. We expect the next five years, industry revenue share in maintenance revenue will reach more than 30% of the scale.
Two property industry has laid the future direction of the transformation. First, the elevator industry overall profitability robust, well-funded enterprise characterized by extended development provided funding conditions. The real estate boom coming down, New Sales slowdown was an opportunity to provide business transformation, so the elevator companies have to find a new growth point of transformation of power. Meanwhile, the elevator companies have the gene for intelligent manufacturing business transformation provides a breakthrough in the direction and industrial base. Most of the domestic elevator production processes are automated, robot application prospect has an intuitive understanding. We believe that the robot, networking and integration of manufacturing capacity elevator companies, cut into the field of intelligent manufacturing is the future development trend of elevator industry.
Risk Warning: Downstream boom led to lower-than-expected demand for elevator; maintenance slow market growth; progress toward corporate restructuring robot direction uncertain.
