Technavio’s latest construction industry report covers the present scenario and growth prospects of the curtain wall market in China 2016-2020.

In this report, Technavio’s heavy industry research experts announce their key market highlights for the curtain wall market in China. Their findings include:

Curtain wall market in China expected to reach close to USD 128 billion by 2020

The demand for curtain walls in China is attributed to the increase in large-scale urban development projects in the country. The Guangdong province invested close to USD 225 billion in infrastructural construction in 2015, providing a major boost to the market. In addition, China also plans to build 244 airports by the end of 2020, which is anticipated to generate a huge demand for curtain walls during the forecast period.

Curtain walls reduce construction time as the duration of the fabrication processes is shorter. It reduces costs as the materials used in curtain walls are lightweight compared to other exterior wall construction materials such as bricks, stones, and concrete. Curtain walls also provide protection from harsh weather conditions, while it helps reduce the damage caused by natural calamities such as earthquakes.

Increase in renovation of commercial properties, coupled with a rise in construction of new hotels expected during the forecast period

Multiple renovation projects across China, such as the façade renovation project of the Hengshan Fang Historical Area Regeneration Program in Shanghai, is predicted to add to the demand for curtain walls in China over the next four years. Technavio research shows, the curtain wall segment for commercial buildings in China was worth USD 36 billion in revenues in 2015, and it is predicted to reach an impressive CAGR of over 20% in the next four years. Increased government spending on travel and tourism will boost construction activities in the country. A rise in tourism is likely to lead to a rise in construction of hotels and restaurants during this period, which bodes well for the market.

Rise in public-private partnership (PPP) model in China is fueling the growth of the construction market in the country

China is one of the leading manufacturers of curtain wall systems in the world. It is increasingly turning to PPP models to reduce the financial burden on the government. The increase in public and private investments in China, coupled with contribution from foreign investors is boosting the growth of the global construction market. This, in turn, is likely to add to the demand for large commercial and public construction projects in China. For instance, in May 2015, the National Development and Reform Commission (NDRC) invested USD 322 billion in infrastructural construction projects across China. China also announced the participation of private investors in 1,043 proposed projects through PPP during the same period.

Increase in demand for high-rise buildings is driving the demand for curtain walls, as they provide aesthetic appeal to tall structures

Rapid urbanization and economic growth have led to the construction of skyscrapers in numerous cities across China. Construction of ultra-high-rise buildings (more than 300 meters in height) has also become common in the country. China is likely to dominate the global high-rise building market until 2020, accounting for approximately 72% of the total number of high-rise office buildings worldwide and with more than 50% of the buildings coming up in two-tier cities in the same period.

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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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