Market size of operational services

According to research data from Frost&Sullivan, an internationally renowned research and consulting firm, the market size (in terms of revenue) of large-scale mechanical equipment operation services in China has increased from RMB 607 billion in 2018 to RMB 935.4 billion in 2022, with a compound annual growth rate of 11.4%. With the further optimization and integration of market participants, the improvement of service quality and specialization level, and the increase in equipment quantity, it is expected that the market size of China's large-scale mechanical equipment operation services (in terms of revenue) will increase to RMB 1593.2 billion in 2027, with a compound annual growth rate of 10.3% from 2023 to 2027. The following figure shows the past and predicted market size of large-scale mechanical equipment operation services in China by revenue during the period shown.