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What opportunities and challenges will China's passenger elevator market face in 2020?

   Affected by the global epidemic of new crown pneumonia, the 2020 China International Elevator Exhibition originally planned to be held in early May was recently postponed to August 18-21, which may be the first time that the exhibition plan has been postponed since the exhibition was held. At the same time, the recent data released by the Government Procurement Information Network shows that under the dual impact of the epidemic and the Spring Festival, the Chinese elevator procurement market in the first quarter of 2020 was also affected.

  The analysis of the 2019 elevator market data recently released by the Government Procurement Information Network shows that the national procurement of elevators in 2019 was 7.66 billion yuan. In the five major market segments of affordable housing, schools, hospitals, government agencies, and real estate, the total purchase of affordable housing elevators reached 1.587 billion The total purchase of elevators in hospitals was 1.235 billion yuan, the total purchase of elevators in government agencies was 935 million yuan, the total purchase of real estate elevators was 878 million yuan, and the total purchase of school elevators was 707 million yuan, becoming the core elements leading the growth of the elevator market.

  The global economic situation is dark, and economic observers are generally not optimistic about the development of China's real estate industry after the epidemic. In this context, modern elevator-based elevator companies continue to focus their market on government projects such as affordable housing and hospitals to have better development opportunities.

  In terms of the elevator company's market strategy, it will deeply cultivate key areas and form a market layout of "key areas + peripheral radiation", thereby forming a "point-area-body" overall sales market structure, or it will become the majority of elevator companies in 2020. Reliable first.

  In fact, in the past two years, China ’s real estate market has continued to decline, and some prospective elevator companies have begun their relatively stable market layout and have formed a stable market increase. As mentioned above, the modern elevator has won a steady growth in the market by deeply cultivating the market strategy with the provincial capital as the center and the fine layout of the secondary and tertiary markets. This is also confirmed in the ranking of China's provincial and municipal elevator procurement in 2019. According to the information released by the Government Procurement Information Network, Henan and Anhui ranked first in elevator procurement in 2019, and Guangdong and Guangxi regions also ranked in the top ten.

  In the special elevator market, new market growth points will emerge in 2020. For example, in the field of home elevators, it has always been an advantageous market for modern elevators.

  Based on the above analysis, in 2020, the overseas market of elevators will be used as a nurturing market for future development, and elevator companies with overseas market foundations will serve as a complement to their business development.