Elevator development in China

According to the China Report Hall, China has become truly the first country in elevator production, sales and possession, and the world's main well-known elevator enterprises have established wholly owned or joint ventures in China. From the perspective of industrial layout, the aggregation effect of domestic elevator industry is obvious. The manufacturing base of elevator machine and parts is mainly concentrated in the Yangtze River Delta, Pearl River Delta and Beijing-Tianjin-Hebei region. At present, except for a few high-end elevators, the rest of the elevator parts have basically realized localization.

With the sustainable development of national economy, elevator production and sales in our country maintain a rapid growth. According to the statistics of China Elevator Association, China's elevator production (excluding escalators) increased from 72,000 units in 2003 to 472,000 units in 2012, with a compound annual growth rate of 23.31 percent. Although China has become the most main production base and consumer market in the world, the popularization of elevator in our country lags far behind the level of developed countries in Europe and America. At the end of 2011, the average number of elevators per capita in China was about 700 persons per unit, close to the world average level, but still far lower than the level of 100-200 persons per unit in developed countries.

In recent years, the average annual growth rate of Chinese elevator export will keep above 35%, and the elevator industry has gradually become a relatively important industry in China. China Elevator Association predicts that in the next five years, the domestic market and export market of China's vertical elevator and escalator market will respectively account for 1/2 and 1/3 of the whole global market. China will remain the largest elevator market in the world for a long time in the future, with annual output value exceeding 100 billion yuan. The elevator market has broad prospects.