Global Market Research Company US China Facility Management Market Forecast & Opport | Page 11

INDUSTRY BRIEF
According to TechSci Research report, “China Facility Management Market By Organized Vs Unorganized, By In-House Vs Outsource, By
Service, By Application, Competition, Forecast & Opportunities, 2024’’, China facility management market is projected to cross $ 210 billion by
2024, on account of growing commercial & industrial sectors, and increasing government investments in real estate sector. Moreover,
technological advancements resulting in high cost savings and • return
on investment (ROI) are further likely to steer growth in China facility
Xx
management market. Additionally, in 2017, China received more than 1200 LEED certificates and accounted for around 47.16 million square
meters of real estate area. CBRE Group, Inc., Jones Lang LaSalle Incorporated (JLL), ISS Group, Sodexo and Colliers International Property
•
Xx
Services Ltd. are some of the major market players.
Among services, China facility management market is dominated • by Xx cleaning services, as these services are widely used in commercial and
industrial sectors. Commercial sector had the largest application share, in terms of value, in China facility management market in 2018 and is
likely to maintain its dominance during the forecast period as well. A large demand for facility management emanates from East China, which can
•
Xx
be attributed to large number of commercial offices and industries across the region. However, North West region of China is anticipated to grow
at the fastest CAGR during the forecast period.
•
Xx
“Factors such as growing number of mergers & acquisitions by international and local companies, government incentives to first time buyers and
upgraders in residential sector is pushing demand for facility management in China. Moreover, rising shift towards green buildings for sustainable
•
xx
future along with growing demand for customized facility management services in tier 1 and tier 2 cities is further likely to positively influence
China facility management market in the coming years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based
global management consulting firm.
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