Market Size of China Co-working Office Spaces Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 5.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
China Co-Working Office Space Market Analysis
The Chinese Co-working Office Spaces Market is anticipated to record a CAGR of more than 5% during the forecast period.
- The COVID-19 pandemic accelerated the growth of co-working spaces in the country, as traditional workspaces faced challenges during the crisis. Many enterprises moved toward co-working spaces because of the affordable prices and flexibility. The co-working spaces provided a safe working environment.
- The sector is driven by increasing demand from small and medium enterprises (SMEs), freelancers, and start-ups. Large-scale enterprises are also adopting co-working spaces due to their benefits, such as top facilities at affordable prices-also, the increasing number of start-ups with a high investment flow rate results in robust sector growth.
- More mainland Chinese landlords are expected to enter Hong Kong's flexible working space, which has historically been controlled by domestic and foreign investors because it provides a low-risk entry point into the larger office market. China Resources, a mainland-based company, built the CRB Business Lounge in Wan Chai in October, providing 24-hour access to fully furnished, flexible workspaces. Landlord-operated co-working spaces have been controlled by big local operators such as Hongkong Land, Great Eagle Holdings, Swire Properties, and Henderson Land Development. Moreover, China has more than 300 co-working offices contributing 1.48% to the global share of the co-working office spaces market.
