Los Angeles, CA (PRWEB) December 11, 2011
In the five years to 2016, revenue of the Building Completion industry in China is forecast to increase at an annualized rate of 12.3%, amounting to $621.7 billion in 2016, according to IBISWorld, America's largest publisher of industry research. Industry revenue growth is forecast to be stronger in the early years of the outlook, as real estate remains strong and demand is greatest. Growth is forecast to slow in the later years of the outlook as the industry matures and China's real estate markets weaken.
Following strong industry revenue growth from 2005 to 2008, largely due to strong upstream building construction growth, the Building Completion industry in China realized only slight growth of 0.7% in 2009 as higher property prices stifled volume growth during the year. Despite this, industry revenue increased by 8.5% in 2010 due to the prosperous domestic real estate market. Industry revenue is forecast to increase at an annualized rate of 9.2% in the five years to 2011, amounting to $348.2 billion by 2011 (constant 2011 prices).
In 2009, the Central Government increased its investment in infrastructure construction to stimulate the Chinese economy. This is expected to increase demand for building completion services over the next few years, as these buildings are finished being constructed.
Household and public building completion and decoration services are the industry's major service segments, with curtain wall decoration accounting for only a small proportion of industry revenue. Design services are becoming a new revenue source for the industry, but its share is still only a small part of industry revenue.
The industry is expected to experience rapid growth over the next five years due to increasing demand for decoration services. Industry revenue is forecast to amount to $621.7 billion by 2016, growing at an annualized rate of 12.3%.
For more information, including profit levels, market shares, product segmentation and more, download IBISWorld’s report on the Building Completion industry in China.
Follow IBISWorld on Twitter: https://twitter.com/#!/IBISWorld
Friend IBISWorld on Facebook: http://www.facebook.com/pages/IBISWorld/121347533189
Firms within the Building Completion industry in China offer finishing services to outfit and decorate new buildings, both public and private, or to renovate established buildings. This includes the installation of kitchens, bathrooms, toilets and curtain walls, as well as providing other services, such as tiling, painting, wallpapering, carpeting, laying floorboards, lighting installation and landscaping. Many companies also offer design services.
Building Completion in China Report Key Topics
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 200 Chinese industries. 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.cn or call 1-800-330-3772.