Global and China Elevator Industry Report, 2019-2025
  • Nov.2019
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About 800,000 elevators were sold across the world in 2018, up 1% from a year ago thanks to the robust demand from China, India and the United States, and the ownership of elevators rose to virtually 15.3 million sets in the year. The global sales of elevators continue an uptrend and will expectedly reach 810,000 sets in 2019 with a year-on-year increase of 1.3%.

Nowadays, the global elevator market is highly concentrated and firmly dominated by the giants like Otis, Schindler, Kone and ThyssenKrupp, and four of them held a combined 64.4% share of the world’s elevator market in 2018.

On a regional basis, Asia-Pacific is a region where elevators are massively produced and consumed, and China has been the largest producer and consumer of elevators in the world. Well-known elevator brands have already established either exclusively funded or joint-stock companies there.

In 2018, approximately 485,000 elevators were sold in China, a 1% rise from a year earlier alongside the burgeoning demand from the real estate sector and rail transit, and sharing 60.6% of the global total. It is expected that in the forthcoming years China’s elevator sales will continue to grow steadily under the drive of old buildings to be equipped with elevators, population aging, rail transit and real estate development, and the sales figure will jump to 610,000 sets in 2025.

Adjustments are accelerated in the Chinese elevator industry with excess capacity, and competition between elevator makers pricks up and there is an obvious tendency of small players to be forced out of business. Chinese elevator manufacturers consist mainly of Shanghai Mechanical & Electrical Industry Co., Ltd., Canny Elevator Co., Ltd., Guangzhou Guangri Stock Co., Ltd., SJEC Corporation, Shenyang Yuanda Intellectual Industry Group Co., Ltd., Zhejiang Meilun Elevator Co., Ltd., and IFE Elevators Co., Ltd., among which Shanghai Mechanical & Electrical Industry Co., Ltd., Canny Elevator Co., Ltd., Guangzhou Guangri Stock Co., Ltd. enjoys higher sales at least 10,000 sets/year apiece. In 2018, Shanghai Mechanical & Electrical Industry sold a total of 80,753 elevators and swept the largest 16.7% share in China.

elevator 1_副本.png

Chinese elevator maintenance market is developing by leaps and bounds with the growing ownership of elevators at home. If 5.5 million elevators in operation in 2018 and a maintenance cost of RMB8,000 per set in China are taken into account, the Chinese elevator maintenance market is currently worth RMB44 billion, a figure projected to surge to RMB64.8 billion in 2025 with the steady growth of new elevator market.

The Chinese players represented by Shanghai Mechanical & Electrical Industry Co., Ltd., Canny Elevator Co., Ltd., Shenyang Yuanda Intellectual Industry Group Co., Ltd., IFE Elevators Co., Ltd and Dongnan Elevator Co., Ltd. have forayed into the elevator installation and maintenance areas, particularly Shanghai Mechanical & Electrical Industry’s revenue from installation and maintenance services as a percentage of more than 30% in its total revenue.

elevator 2_副本.png

The report covers:
20120114.gifGlobal elevator industry (new elevator market, maintenance market and competitive pattern);
20120114.gifChina elevator industry (new elevator market, maintenance market, competitive landscape and development tendencies);
20120114.gifThe demand for elevators in China (downstream demand, demand structure, factors influencing the demand, etc.);
20120114.gif12 Chinese and 7 foreign elevator manufacturers (operation, elevator business, investment in R&D, development strategies, among others.

1. Overview of Elevator Industry
1.1 Definition and Classification
1.2 Policy Environment

2. Development of Global Elevator Industry
2.1 New Elevator Market
2.1.1 Sales Volume
2.1.2 New Elevator Sales by Region
2.2 Maintenance Market
2.2.1 Elevator Ownership
2.2.2 Maintenance Market Becomes a Major Growth Engine
2.3 Competitive Landscape
2.4 Development Mode
2.4.1 Two Modes
2.4.2 Business Development in Asia-Pacific
2.4.3 Global Expansion

3. Development of China Elevator Industry
3.1 Product Structure
3.2 New Elevator Market
3.2.1 Status Quo
3.2.2 Sales Volume
3.2.3 Sales Volume of Major Enterprises
3.2.4 Market Size of Newly-installed Elevators
3.3 Maintenance Market
3.3.1 Status Quo
3.3.2 Elevator Ownership
3.3.3 Maintenance Market Size
3.3.4 Layout of Domestic Elevator Manufacturers in Maintenance Market
3.3.5 Maintenance Business Comparison between Major Enterprises
3.4 Import and Export
3.4.1 Import
3.4.2 Export
3.4.3 Import and Export Unit Price
3.5 Competitive Landscape
3.5.1 Layout of Foreign Brands in China
3.5.2 Financing of Local Enterprises
3.5.3 Operating Result Comparison between Major Enterprises
3.6 Summary & Forecast
3.6.1 New Elevator Keeps Growing Sales
3.6.2 Intelligent Manufacturing to Become Transformation Direction of Elevator Enterprises
3.6.3 Maintenance Service to realize industrialization
3.6.4 Industry concentration to be enhanced further
3.6.5 Old Building Equipped with An Elevator Brings Vast Room for Development

4. Demand of China Elevator Industry
4.1 Downstream Demand Structure
4.2 Demand Composition
4.3 Influencing Factors
4.3.1 Real Estate Sector
4.3.2 Urbanization
4.3.3 Aging Population
4.3.4 Urban Rail Transit
4.3.5 Renewal and Upgrading of Old Elevators

5. Key Elevator Companies in China
5.1 Shanghai Mechanical & Electrical Industry Co., Ltd.
5.1.1 Profile
5.1.2 Operation
5.1.3 Revenue Structure
5.1.4 Gross Margin
5.1.5 Elevator Business
5.1.6 Shanghai Mitsubishi Elevator Co., Ltd.
5.1.7 Mitsubishi Electric Shanghai Electric Elevator Co., Ltd.
5.1.8 R&D Investment
5.1.9 Development Strategy
5.2 Guangzhou Guangri Stock Co., Ltd.
5.2.1 Profile
5.2.2 Operation
5.2.3 Revenue Structure
5.2.4 Gross Margin
5.2.5 Elevator Business
5.2.6 Guangri Elevator
5.2.7 R&D Investment
5.3 Canny Elevator Co., Ltd.
5.3.1 Profile
5.3.2 Operation
5.3.3 Revenue Structure
5.3.4 Gross Margin
5.3.5 Elevator Business
5.3.6 R&D Investment
5.3.7 Development Strategy
5.4 SJEC Corporation
5.4.1 Profile
5.4.2 Operation
5.4.3 Revenue Structure
5.4.4 Gross Margin
5.4.5 Elevator Business
5.4.6 Typical Projects
5.4.7 R&D Investment
5.4.8 Development Strategy
5.5 Shenyang Yuanda Intellectual Industry Group Co., Ltd.
5.5.1 Profile
5.5.2 Operation
5.5.3 Revenue Structure
5.5.4 Gross Margin
5.5.5 Elevator Business
5.5.6 R&D Investment
5.5.7 Development Strategy
5.6 Dongnan Elevator Co., Ltd.
5.6.1 Profile
5.6.2 Operation
5.6.3 Revenue Structure
5.6.4 Gross Margin
5.6.5 Major Customers
5.6.6 Special Elevator Typical Projects
5.6.7 Development Strategy
5.7 Shandong Bunse Elevator Co., Ltd.
5.7.1 Profile
5.7.2 Operation
5.7.3 Revenue Structure
5.7.4 Gross Margin
5.7.5 Major Customers
5.7.6 Typical Projects
5.7.7 R&D Investment
5.7.8 Development Strategy
5.8 Hunan Sida Intelligent Equipment Co., Ltd.
5.8.1 Profile
5.8.2 Operation
5.8.3 Revenue Structure
5.8.4 Gross Margin
5.8.5 Major Customers
5.8.6 Typical Projects
5.8.7 R&D Investment
5.9 Rhine Elevator
5.9.1 Profile
5.9.2 Operation
5.9.3 Revenue Structure
5.9.4 Gross Margin
5.9.5 Major Customers
5.9.6 R&D Investment
5.9.7 Development Strategy
5.10 Shenlong Elevator Co., Ltd.
5.10.1 Profile
5.10.2 Elevator Capacity, Output and Sales Volume
5.10.3 Typical Projects
5.10.4 Dynamics
5.11 Zhejiang Meilun Elevator Co., Ltd.
5.11.1 Profile
5.11.2 Operation
5.11.3 Revenue Structure
5.11.4 Gross Margin
5.11.5 Elevator Business
5.11.6 Development Strategy
5.12 IFE Elevators Co., Ltd.
5.12.1 Profile
5.12.2 Operation
5.12.3 Revenue Structure
5.12.4 Gross Margin
5.12.5 Elevator Business

6. Key Foreign Elevator Companies
6.1 Otis
6.1.1 Profile
6.1.2 Operation
6.1.3 Orders
6.1.4 Development in China
6.1.5 Otis Electric
6.1.6 Elevator Orders of Otis Electric
6.2 Hitachi
6.2.1 Profile
6.2.2 Operation
6.2.3 Elevator Business
6.2.4 Development in China
6.2.5 Orders in China
6.3 Schindler
6.3.1 Profile
6.3.2 Operation
6.3.3 Orders
6.3.4 Development in China
6.3.5 Orders in China
6.4 ThyssenKrupp
6.4.1 Profile
6.4.2 Operation
6.4.3 Elevator Business
6.4.4 Development in China
6.4.5 Orders in China
6.5 Toshiba
6.5.1 Profile
6.5.2 Operation
6.5.3 Elevator Business
6.5.4 Development in China
6.5.5 Orders in China
6.6 Fujitec
6.6.1 Profile
6.6.2 Operation
6.6.3 Orders
6.6.4 Development in China
6.7 Kone
6.7.1 Profile
6.7.2 Operation
6.7.3 Revenue Structure
6.7.4 Development in China
6.7.5 Orders in China
Global Newly-Installed Elevator Sales Volume, 2010-2019
Global Newly-Installed Elevator Sales Volume by Region, 2010-2018
Global Newly-Installed Elevator Sales Volume Structure by Region, 2010-2018
Global Newly-Installed Elevator Sales Structure by Region, 2015-2018
Elevator Ownership per 1000 People and Utilization Rate in Major Countries, 2010-2030E
Global Elevator Ownership, 2013-2025E
KONE’s Maintenance Revenue as a Percentage of Total Revenue, 2005-2019
Global Elevator Market Share, 2018
Kone’s Order Intake in China and Sales Share, 2017-2018
Structure of Elevator Product
Market Share of Medium/Low Speed Elevator Product in China, 2005-2018
China’s Elevator Sales Volume, 2012-2019
Structure of China’s Newly-installed Elevator Sales Volume (by Enterprise), 2018
Newly-installed Elevator Sales of Major Chinese Elevator Enterprises, 2015-2019
Market Size of Newly-installed Elevators in China, 2012-2019
Market Share of Newly-installed Elevators by Company, 2018
Elevator Ownership in China, 2015-2025E
Elevator Maintenance Market Size in China, 2015-2025E
China’s Passenger Elevator/Escalator/Moving Walk Import Volume and Value, 2017-2019
Import Origins of Passenger Elevators, Escalators and Moving Walkways in China, Jan.-Sept.2019
Provinces/Municipalities Importing Passenger Elevators, Escalators and Moving Walkways in China, Jan-Sept.2019
China’s Passenger Elevator/Escalator/Moving Walkway Export Volume and Value, 2017-2019
Top 10 Destinations of the Exported Passenger Elevators from China, Jan.-Sept.2019
Top 10 Destinations of the Exported Escalators and Moving Walkways from China, Jan.-Sept.2019
Provinces/Municipalities Exporting Passenger Elevators in China, Jan-Sept.2019
Provinces/Municipalities Exporting Escalators and Moving Walkways in China, Jan-Sept.2019
China’s Passenger Elevator Import and Export Price, 2017-2019
China’s Escalator/Moving Walk Import and Export Price, 2017-2019
Market Share of Elevator Industry in China (by Enterprise), 2018
Sales Volume of Newly-installed Elevators in China, 2018-2025E
Policies/Documents about Promoting “Renovation of Old Buildings” in China, 2019
Elevator Downstream Demand Structure in China
Elevator Demand Market Components
Composition of Elevator Demand in China, 2018
Completed Investment in China’s Real Estate Development, 2010-2019
Commercial Building Sales Area in China, 2013-2019
Commercial Residential Building Sales in China, 2013-2019
Floor Space Newly Started in China, 2013-2019
Urbanization Rate in China, 2010-2018
Planned Starts, Actual Starts and Rate of Completions of China’s Shantytown Reconstruction Program, 2014-2020E
Proportion of Population Aged 60 or Above in China, 2010-2018
Total Operating Mileage of Urban Rail Transit in China, 2012-2018
Revenue and Net Income of Shanghai Mechanical & Electrical Industry, 2013-2019
Revenue Breakdown of Shanghai Mechanical & Electrical Industry (by Product), 2014-2018
Revenue Structure of Shanghai Mechanical & Electrical Industry (by Product), 2014-2018
Gross Margin of Shanghai Mechanical & Electrical Industry (by Product), 2014-2018
Output, Sales Volume and Inventory of Shanghai Mechanical & Electrical Industry, 2014-2018
Operating Performance of Shanghai Mitsubishi Elevator, 2014-2019
Installation & Maintenance Revenue of Shanghai Mitsubishi Elevator, 2014-2019
Operating Performance of Mitsubishi Electric Shanghai Electric Elevator, 2014-2019
R&D Costs and % of Total Revenue of Shanghai Mechanical & Electrical Industry, 2014-2019
Development Course of Shenlong Elevator
Product Specifications Covered by Shenlong Elevator’s CE Certification
Revenue and Net Income of Zhejiang Meilun Elevator, 2014-2019
Revenue Breakdown (by Product) of Zhejiang Meilun Elevator, 2014-2018
Revenue Structure (by Product) of Zhejiang Meilun Elevator, 2014-2018
Revenue Breakdown (by Region) of Zhejiang Meilun Elevator, 2014-2018
Revenue Structure (by Region) of Zhejiang Meilun Elevator, 2014-2018
Gross Margin (by Product) of Zhejiang Meilun Elevator, 2014-2018
Major Elevators of Zhejiang Meilun Elevator
Elevator Sales of Zhejiang Meilun Elevator, 2014-2018
Elevator Output of Zhejiang Meilun Elevator, 2014-2018
Zhejiang Meilun Elevator’s Usage of the Funds Raised via IPO
Revenue and Net of IFE Elevators, 2014-2019
Revenue Breakdown (by Product) of IFE Elevators, 2014-2019
Revenue Structure (by Product) of IFE Elevators, 2014-2019
Revenue Breakdown (by Region) of IFE Elevators, 2014-2018
Revenue Structure (by Region) of IFE Elevators, 2014-2018
Gross Margin of IFE Elevators, 2014-2019
Gross Margin (by Product) of IFE Elevators, 2014-2019
Major Elevators of IFE Elevators
Output and Sales Volume of IFE Elevators, 2014-2018
IFE Elevators’ Usage of the Funds Raised via IPO
Progress of IFE Elevators’ Investment Projects with the Funds Raised via IPO, by H1 2019
Classification of Elevator Products
Main Components of Elevator
Laws and Regulations on Chinese Elevator Industry, 2000-2017
Policies on Chinese Elevator Industry, 2006-2018
KONE’s M&A Cases and Their Influences
Schindler’s M&A Cases
Newly-installed Elevator Sales Volume of Major Chinese Elevator Enterprises, 2014-2018
Major Chinese Elevator Enterprises’ Installation & Maintenance Revenue as a Percentage of Total Revenue, 2015-2019
Comparison between Chinese and International Enterprises in High Speed Elevator Layout
Layout of Major Foreign Elevator Brands in China
Developments of Foreign Elevator Enterprises in China, 2011-2019
Comparison of Revenue from Major Chinese Elevator Enterprises, 2014-2019
Comparison of Net Income from Major Chinese Elevator Enterprises, 2014-2019
Elevator Maintenance Service Layout of Major Chinese Elevator Companies
Factors Influencing Elevator Demand Market Segments
Characteristics of Demand for Elevators under the New-type Urbanization
Number of Elevators to Be Updated in China, 2010-2024E
Major Orders of Shanghai Mitsubishi Elevator, 2018
Milestones in Development of Shanghai Mitsubishi Elevator

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