Analysis of the Asset Scale in China’s Automated Multi‑Storey Parking Industry

Following the reform and opening-up policy, China’s automotive industry began to take its first steps. The 21st century ushered in a period of rapid development. Compared with Europe, Japan, and South Korea, China’s automated parking equipment sector started relatively late. During the first two decades, growth was sluggish: by 1996, annual sales and installations of parking equipment nationwide totaled fewer than 1,000 parking spaces. By 2016, the country had added 2,215 new parking facilities, with 2,080 added in 2015—a year-on-year increase of 6.5%. However, theoretical demand for conventional parking spaces stood at 75,824, indicating that the actual number of available parking spaces fell far short of what was needed. By 2016, the nation had installed an additional 728,643 mechanized parking spaces, up from 617,386 in 2015.

Due to the alignment of China’s sales model for automated multi‑storey parking systems with international standards, and the site‑specific nature of installation locations, manufacturers tailor design solutions to meet customers’ requirements and produce accordingly. As a result, sales volumes generally closely match production volumes. Beginning in the 1990s, China began importing and manufacturing parking equipment, deploying it in cities such as Beijing, Shanghai, Guangzhou, and Shenzhen. Today, the number of parking‑equipment manufacturers has grown to several hundred, offering a wide variety of products, with some systems already being exported.

At present, in most cities both domestically and internationally, land is at a premium, and traffic congestion is gradually shifting from dynamic to static conditions. The “difficulty of finding parking” has become a widespread public challenge for urban development. As of the first half of 2017, the national vehicle stock reached 205 million, with 23 cities each exceeding 2 million vehicles. By the end of June, the total number of registered vehicles nationwide stood at 205 million, while new vehicle registrations in the first half of 2017 totaled 13.22 million—roughly on par with the same period in 2016. Across the country, 49 cities have vehicle populations surpassing 1 million, 23 exceed 2 million, and 6 exceed 3 million. Among these, the 23 cities with more than 2 million vehicles are, in order: Beijing, Chengdu, Chongqing, Shanghai, Suzhou, Shenzhen, Tianjin, Zhengzhou, Xi’an, Dongguan, Wuhan, Hangzhou, Shijiazhuang, Guangzhou, Qingdao, Nanjing, Ningbo, Foshan, Baoding, Changsha, Kunming, Weifang, and Linyi.

Automated multi‑storey parking facilities are springing up across China, with a strong concentration in Beijing, Shanghai, Jiangsu, Zhejiang, Guangdong, Chongqing, and other regions. As hallmarks of modern metropolises, both vertical architecture and three‑dimensional transportation have seen remarkable advances, and the concept of multi‑storey parking is gaining widespread acceptance. During the 13th Five-Year Plan period, China’s vehicle ownership is expected to continue growing at a rapid pace, and the shortage of parking spaces is likely to persist. The “parking economy” holds enormous commercial potential; investment in multi‑storey parking structures is viable in high‑density parking areas such as shopping malls, office buildings, and residential communities, making the market outlook highly promising.

I. Analysis of Industry Unit Size

Chart: Automated multi‑storey parking garage manufacturers in China, 2014–2016

Data source: Zhongyan Puhua

As of the end of 2016, there were 504 qualified manufacturers of automated parking systems nationwide. The top 20 companies recorded total domestic sales of RMB 879,223.31 million in 2016, accounting for 66.0% of the aggregate sales reported by all participating firms. These companies installed a total of 468,270 parking spaces, representing 64.3% of all newly added parking spaces in China.

II. Analysis of Industry Workforce Size

Chart: The size of the workforce in China’s automated multi‑storey parking garage industry from 2014 to 2016.

Data source: Zhongyan Puhua

III. Analysis of Industry Asset Scale

Chart: Asset Scale of China’s Automated Multi‑Storey Parking Garage Industry, 2014–2016

Data source: Zhongyan Puhua

IV. Analysis of the Industry’s Market Size and Structure

Chart: Market Size of China’s Automated Multi‑Storey Parking Garage Industry, 2014–2016

Data source: Zhongyan Puhua

China’s automated parking‑garage industry began in the 1980s. Following a phase of importing foreign technologies in the 1990s and a period of independent R&D since 2003, the sector has entered a rapid growth phase in recent years, driven by the swift expansion of the automotive industry. The market for automated parking systems offers substantial room for substitution, and supportive government policies are poised to act as a catalyst for explosive industry growth. As of 2016, the size of China’s automated parking‑garage market had reached RMB 15 billion.