Global and China Elevator Industry Report, 2018-2022

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Date: 16-Nov-2018
No. of pages: 195
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In 2017, a total of 793,000 new elevators were sold globally, a slight rise of 3% from a year earlier, thanks to the increased demand from Asia-Pacific and Europe, bringing global elevator ownership to estimated 14.5 million units. It is predicted that in 2018 global new elevator sales will sustain growth in the context that global economy is on a steady rise, expectedly reaching 813,000 units with a year-on-year increase of 2.5%.

Globally, most elevators are produced and sold in Asia-Pacific region and China is the largest producer and consumer of elevators. World-renowned elevator brands have set up their either own companies or joint ventures in China, making the country a center of global elevator production.

New elevator market:

In 2017, around 480,000 elevators were sold in China, up 2.1% year on year driven by the property market growth. Shanghai Mechanical & Electrical Industry Co., Ltd., Guangzhou Guangri Stock Co., Ltd. and Canny Elevator (except for players with smaller business scale, like SJEC Corporation and Shenyang Yuanda Intellectual Industry Group) saw a varied increase in new elevator sales, of which Shanghai Mechanical & Electrical Industry Co., Ltd. reached the highest 75,600 units, a year-on-year increase of 9.4%, a 15.8% share of the total.

Under the impetus of urbanization, aging population, fast-growing urban rail transit, enforcement of the policy for elevator installation in old buildings as well as a growing number of old elevators to be replaced, Chinese elevator market will continue to grow steadily in the next five years, and till 2022 the sales of new elevators is anticipated to record 560,000 units.

Maintenance Market:

The ownership of elevators has been climbing in China year after year. By the end of 2017, there had been a total of 4.8 million elevators in China. Higher ownership has contributed to the robust elevator maintenance business. Assuming the maintenance cost of RMB8,000/year for each elevator, Chinese elevator maintenance market size now reaches RMB38.4 billion and will fetch RMB52 billion by 2022.

At present, Chinese elevator maintenance market is in a state of disorderly competition. As the elevator maintenance is featured with high gross margin and huge market space, Chinese and foreign brands attach great importance to the development of the maintenance business, and they have rushed into the maintenance market successively. In the future, Chinese elevator maintenance market will be developing in an orderly and sound way.

Global and China Elevator Industry Report, 2018-2022 highlights the following:


  • Global elevator industry (new elevator market, maintenance market and competitive landscape);

  • China elevator industry (new elevator market, maintenance market, competitive pattern and development tendency);

  • Elevator demand in China (demand from downstream sectors, demand structure, factors influencing demand);

  • 7 foreign and 10 Chinese companies (operation, elevator business, R&D and investments, development strategies, etc.)

Global and China Elevator Industry Report, 2018-2022

Table of Contents

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 Tends to Decline
3.4.2 Export Grows Steadily
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

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
5.2.8 Development Strategy
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 Sinda Elevator 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 Operation
5.10.3 Revenue Structure
5.10.4 Gross Margin
5.10.5 Elevator Capacity, Output and Sales Volume
5.10.6 Major Customers
5.10.7 Typical Projects

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

List of Charts

Classification of Elevator Products
Main Components of Elevator
Laws and Regulations on Chinese Elevator Industry, 2000-2017
Policies on Chinese Elevator Industry, 2006-2018
Global Newly-Installed Elevator Sales Volume, 2010-2018
Global Newly-Installed Elevator Sales Volume by Region, 2010-2017
Global Newly-Installed Elevator Sales Volume Structure by Region, 2010-2017
Global Newly-Installed Elevator Sales Structure by Region, 2015-2017
Share of Global Newly-Installed Elevator Orders (by Region), 2004-2016
Elevator Ownership per 1000 People and Utilization Rate in Major Countries, 2010-2030E
Global Elevator Ownership, 2013-2022E
KONE’s Maintenance Revenue as a Percentage of Total Revenue, 2005-2018
Global Elevator Market Share, 2017
Top 10 Countries of KONE’s Revenue, 2017
KONE’s M&A Cases and Their Influences
Schindler’s M&A Cases
Structure of Elevator Product
Market Share of Medium/Low Speed Elevator Product in China, 2005-2017
China’s Elevator Sales Volume, 2012-2017
Newly-installed Elevator Sales Volume of Major Chinese Elevator Enterprises, 2014-2017
Structure of China’s Newly-installed Elevator Sales Volume (by Enterprise), 2017
Newly-installed Elevator Sales of Major Chinese Elevator Enterprises, 2015-2018
Market Size of Newly-installed Elevators in China, 2012-2017
Market Share of Newly-installed Elevators by Company, 2017
Elevator Ownership in China, 2015-2022E
Elevator Maintenance Market Size in China, 2015-2022E
Major Chinese Elevator Enterprises’ Installation & Maintenance Revenue as a Percentage of Total Revenue, 2014-2018
China’s Passenger Elevator/Escalator/Moving Walk Import Volume and Value, 2010-2015
Top 10 Countries by Passenger Elevator Import Volume in China, 2015
Top 10 Countries by Escalator/Moving Walk Import Volume in China, 2015
China’s Passenger Elevator/Escalator/Moving Walk Export Volume and Value, 2010-2015
Top 10 Chinese Provinces by Passenger Elevator Export Volume, 2015
Top 10 Chinese Provinces by Escalator/Moving Walk Export Volume, 2015
Top 10 Countries by Passenger Elevator Export Volume in China, 2015
Top 10 Countries by Escalator/Moving Walk Export Volume in China, 2015
China’s Passenger Elevator Import and Export Price, 2010-2015
China’s Escalator/Moving Walk Import and Export Price, 2010-2015
Market Share of Elevator Industry in China (by Enterprise), 2017
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, 2011-2018
Comparison of Revenue from Major Chinese Elevator Enterprises, 2013-2018
Comparison of Net Income from Major Chinese Elevator Enterprises, 2013-2018
Sales Volume of Newly-installed Elevators in China, 2017-2022E
Elevator Maintenance Service Layout of Major Chinese Elevator Companies
Elevator Downstream Demand Structure in China
Elevator Demand Market Components
Factors Influencing Elevator Demand Market Segments
Composition of Elevator Demand in China, 2017
Completed Investment in China’s Real Estate Development, 2010-2018
Commercial Residential Building Sales Area in China, 2013-2018
Commercial Residential Building Sales in China, 2013-2018
Floor Space Newly Started in China, 2013-2018
Urbanization Rate in China, 2010-2017
Characteristics of Demand for Elevators under the New-type Urbanization
Proportion of Population Aged 60 or Above in China, 2010-2017
Total Operating Mileage of Urban Rail Transit in China, 2012-2017
Number of Elevators to Be Updated in China, 2010-2024E
Revenue and Net Income of Shanghai Mechanical & Electrical Industry, 2013-2018
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), 2014-2017
Output, Sales Volume and Inventory of Shanghai Mechanical & Electrical Industry, 2014-2017
Operating Performance of Shanghai Mitsubishi Elevator, 2014-2018
Installation & Maintenance Revenue of Shanghai Mitsubishi Elevator, 2014-2018
Major Orders of Shanghai Mitsubishi Elevator, 2018H1
Milestones in Development of Shanghai Mitsubishi Elevator
Operating Performance of Mitsubishi Electric Shanghai Electric Elevator, 2014-2018
R&D Costs and % of Total Revenue of Shanghai Mechanical & Electrical Industry, 2014-2018
Revenue and Net Income of Guangzhou Guangri Stock, 2013-2018
Revenue Breakdown of Guangzhou Guangri Stock (by Product), 2014-2017
Revenue Structure of Guangzhou Guangri Stock (by Product), 2014-2017
Revenue Breakdown of Guangzhou Guangri Stock (by Region), 2014-2017
Revenue Structure of Guangzhou Guangri Stock (by Region), 2014-2017
Gross Margin of Guangzhou Guangri Stock, 2014-2017
Gross Margin of Guangzhou Guangri Stock (by Product), 2014-2017
Typical Projects of Guangzhou Guangri Elevator Industry
Production and Sales of Guangzhou Guangri Stock, 2015-2017
Financial Indexes of Guangzhou Guangri Elevator Industry, 2014-2017
R&D Costs and % of Total Revenue of Guangzhou Guangri Stock, 2013-2018
Production Base Layout of Canny Elevator
Global Layout of Canny Elevator
Major Customers of Canny Elevator
Revenue and Net Income of Canny Elevator, 2013-2018
Revenue Breakdown of Canny Elevator (by Product), 2014-2018
Revenue Structure of Canny Elevator (by Product), 2014-2018
Revenue Breakdown of Canny Elevator (by Region), 2014-2018
Revenue Structure of Canny Elevator (by Region), 2014-2018
Gross Margin of Canny Elevator, 2014-2018
Gross Margin of Canny Elevator (by Product), 2014-2018
Major Products and Application Scope of Canny Elevator
Typical Projects of Canny Elevator
Output and Sales Volume, Inventory of Canny Elevator, 2014-2017
R&D Costs and % of Total Revenue of Canny Elevator, 2013-2018
Revenue and Net Income of SJEC Corporation, 2013-2017
Revenue Breakdown of SJEC Corporation (by Product), 2014-2017
Revenue Structure of SJEC Corporation (by Product), 2014-2017
Gross Margin of SJEC Corporation (by Product), 2014-2017
Production and Sales Volume, Inventery of SJEC Corporation (by Product), 2013-2017
Typical Projects of SJEC Corporation in China
Typical Overseas Projects of SJEC Corporation
R&D Costs of SJEC Corporation, 2014-2017
Revenue and Net Income of Shenyang Yuanda Intellectual Industry Group, 2013-2018
Revenue Breakdown of Shenyang Yuanda Intellectual Industry Group (by Product), 2014-2018
Revenue Structure of Shenyang Yuanda Intellectual Industry Group (by Product), 2014-2018
Gross Margin of Shenyang Yuanda Intellectual Industry Group, 2014-2018
Gross Margin of Shenyang Yuanda Intellectual Industry Group (by Product), 2014-2018
Typical Projects of Shenyang Yuanda Intellectual Industry Group
Production and Sales, Inventory of Shenyang Yuanda Intellectual Industry Group, 2014-2017
R&D Costs of Shenyang Yuanda Intellectual Industry Group, 2013-2018
Revenue and Net Income of Dongnan Elevator, 2013-2018
Revenue Breakdown of Dongnan Elevator (by Product), 2013-2018
Revenue Structure of Dongnan Elevator (by Product), 2013-2018
Gross Margin of Dongnan Elevator, 2013-2018
Dongnan Elevator’s Revenue from Top 5 Customers, 2013-2017
Typical Projects for Special Elevators of Dongnan Elevator
Revenue and Net Income of Shandong Bunse Elevator, 2013-2018
Revenue Breakdown of Shandong Bunse Elevator (by Business), 2013-2017
Revenue Structure of Shandong Bunse Elevator (by Business), 2013-2017
Gross Margin of Shandong Bunse Elevator, 2013-2018
Top 5 Customers of Shandong Bunse Elevator, 2014-2017
Typical Projects of Shandong Bunse Elevator
R&D Costs of Shandong Bunse Elevator, 2013-2017
Revenue and Net Income of Hunan Sinda Elevator, 2013-2018
Revenue Breakdown of Hunan Sinda Elevator (by Business), 2013-2017
Revenue Structure of Hunan Sinda Elevator (by Business), 2013-2017
Gross Margin of Hunan Sinda Elevator, 2013-2018
Hunan Sinda Elevator’s Revenue from Top 5 Customers, 2014-2017
Typical Projects of Hunan Sinda Elevator
R&D Costs and % of Total Revenue of Hunan Sinda Elevator, 2013-2017
Main Technologies of Rhine Elevator
Main Elevator Products of Rhine Elevator
Revenue and Net Income of Rhine Elevator, 2013-2018
Revenue Breakdown of Rhine Elevator (by Business), 2013-2017
Revenue Structure of Rhine Elevator (by Business), 2013-2017
Gross Margin of Rhine Elevator, 2013-2018
Revenue from Top 5 Customers of Rhine Elevator, 2013-2017
R&D Costs of Rhine Elevator, 2013-2017
Revenue and Net Income of Shenlong Elevator, 2012-2014
Revenue Breakdown of Shenlong Elevator (by Product), 2012-2014
Revenue Breakdown of Shenlong Elevator (by Region), 2012-2014
Revenue Structure of Shenlong Elevator (by Region), 2012-2014
Gross Profit of Shenlong Elevator (by Product), 2012-2014
Gross Margin of Shenlong Elevator (by Product), 2012-2014
Capacity of Shenlong Elevator, 2012-2014
Sales Volume of Shenlong Elevator (by Product), 2012-2014
Unit Product Price of Shenlong Elevator, 2012-2014
Top 5 Export Customers of Shenlong Elevator, 2012-2014
Top 5 Accessories Sales Customers of Shenlong Elevator, 2012-2014
Typical Overseas Projects of Shenlong Elevator
SkyRise Specifications of Otis
Otis SkyBuild Specifications
Business Distribution of Otis
Net Sales and Operating Profit of Otis, 2012-2017
Expansion Process of Otis in China
Major Elevator Orders for Otis in China, 2009-2018
Equity Structure of Otis Electric
Major Elevator and Escalator Products of Otis Electric
Financial Indices of Otis Electric, 2015-2017
Elevator Orders of Otis Electric, 2011-2018
Main Financial Indexes of Hitachi, FY2014-2018
Revenue Structure of Hitachi (by Region), FY2014-FY2018
Financial Indices of Hitachi (by Division), FY2017-FY2018
Financial Indices of Social Infrastructure & Industrial Systems Segment of Hitachi, FY2015-FY2017
Global Layout of Hitachi Elevators
Development History of Hitachi Elevators
Main Elevator Projects of Hitachi, FY2017
Profile of Hitachi Elevator (China)
Major Elevator Manufacturing Bases of Hitachi in China
Revenue and Net Income of Hitachi Elevator (China), 2011-2018
Main Elevator Orders of Hitachi in China, 2011-2018
Development History of Schindler
Global Footprint of Schindler
Maket Capitalization of Schindler, 1981-2017
Major Products of Schindler
Performance of Schindler, 2013-2017
Revenue Structure of Schindler by Region, 2016-2017
Amount of Schindler’s Undelivered Orders, 2011-2017
Structure of Schindler’s Revenue and Undelivered Orders (by Region), 2005-2017
Future Significant Orders by Region of Schindler
Development Course of Schindler China
Main Orders of Schindler in China, 2015-2017
Order Amount and Sales of ThyssenKrupp, FY2014-FY2018
Order Amount of ThyssenKrupp (by Business), FY2014-FY2018
Sales of ThyssenKrupp (by Business), FY2014-FY2018
Elevator Order Amount and Sales of ThyssenKrupp Elevators, FY2014-FY2018
Development Course of ThyssenKrupp in China
Production Bases of ThyssenKrupp Elevator in China
Main Elevator Orders of ThyssenKrupp in China
Business Structure Change of Toshiba
Development History of Toshiba
Main Financial Indices of Toshiba, FY2016-FY2018
Revenue of Toshiba by Division, FY2016-FY2018
Development History of Toshiba Elevators
Main Elevator Projects of Toshiba
Main Escalator Projects of Toshiba
Global Layout of Fujitec
Main Financial Indexes of Fujitec, FY2014-FY2018
Net Sales of Fujitec (by Region), FY2014-FY2018
Net Sales of Fujitec (by Region), FY2019
Order Backlogs of Fujitec by Region, FY2014-FY2018
Main Elevator Projects of Fujitec
Layout of Fujitec in China
Main Elevator Projects of Fujitec in China
Global Business Distribution of KONE
Main Financial Indices of KONE, 2017-2018
Main Financial Indices of KONE, 2015-2017
Revenue Structure of KONE (by Region), 2016-2018
Revenue Structure of KONE (by Business), 2016-2018
Dominant Companies of KONE in China
Development History of KONE in China
Main Orders of KONE in China, 2016-2018

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