More M&As, bankruptcies and IPOs will boost share of civil legal services
San Francisco, CA (PRWEB) February 27, 2013
Revenue for Attorneys in China grew at an annualized rate of 10.8% over the past five years to an estimated $7.1 billion in 2012, says IBISWorld. China’s developing economy and increasing business and M&A activity have supported the industry’s growth, particularly growth in demand for civil legal services.
Most law firms are located in China's major cities, such as Beijing, Shanghai, Shenzhen and Guangzhou, where many client businesses are active and large corporate clients are headquartered. Large Chinese law firms are expanding their international business through partnerships with foreign law firms. Some have established offices in foreign countries.
Market share concentration within the Attorneys industry in China is low. The combined market share of the top four players – King & Wood PRC Lawyers, Dacheng Law Offices, Grandall Legal Group, and Jun He Law Offices – was estimated at 10.0% in 2012. This reflects the large number of small firms operating within the industry. However, the industry concentration level has shown an increasing trend in recent years, reflecting the business expansion of large players.
IBISWorld forecasts that the industry will continue to grow in line with China’s economic development, with non-litigious legal services, including services for mergers and acquisitions, bankruptcies and initial public offerings (IPOs), growing as important revenue drivers.
For more information, visit IBISWorld’s Attorneys in China industry report page.
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IBISWorld Industry Report Key Topics
The Attorneys industry in China comprises independent establishments providing specialized legal and paralegal services, including law firms, legal aid offices and legal agents. Notarization, conciliation, arbitration or legal services provided by in-house legal teams are not included in this report.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Globalization & Trade
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.