Market Size of China Facility Management Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 9.10 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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China Facility Management Market Analysis
The China Facility Management Market is expected to grow by registering a CAGR of 9.1% during the forecast period (2022-2027). The growth of commercial and industrial infrastructure in the country is expected to be the major driver for the facility management services in the country.
- Driven by the continued urbanization, outsourcing penetration, and floor area growth, the facility management market is expected to reach a major height, according to China Shine, a facility management service provider in China.
- Property owners and managers in China are increasingly looking for more comprehensive and high-quality property management services, with improving living conditions and rising disposable income in China. According to the National Bureau of Statistics of China, the median per capita disposable income of residents in China was CNY 29,975 in 2021.
- The facility management services in the country are high in demand across the industrial sector that has witnessed significant growth in the last few decades. For instance, according to the National Bureau of Statistics of China, the country's total industrial production grew by 5% in March 2022, compared to the same period of the previous year.
- Moreover, compared to other developed and developing countries, outsourcing penetration is low in China, which is among the key factors restraining the growth of the studied market in the country.
- China is among the leading countries with the highest impact of the pandemic as some of the first few COVID cases were identified in the country itself. Although the country has done a remarkable job of containing the virus, the pandemic has significantly impacted the country's economy. For instance, according to the National Bureau of Statistics in China, the purchasing manager's index for the manufacturing sector stood at 50.8 in April, reporting a decrease of 1.2% from March.
- The industrial, manufacturing, and institutional sectors that are major consumers of facility management services were the highly impacted sectors in the country during the initial phase. However, with the condition moving towards normal, the facility management market is expected to witness an upward trend in demand in the country.
