The main types of elevators include vertical elevators, escalators, and auto walkways. With the continuous development of the elevator industry, the types of elevators are becoming increasingly diverse. As the elevator market grows, China has gradually formed a globally leading industrial chain advantage. This is mainly reflected in the fact that a number of competitively strong companies have emerged in the upstream, midstream, and downstream links of the elevator industry chain in China, including elevator manufacturers and suppliers of key components. In particular, in the field of low-to-medium speed elevators, the supporting components have basically achieved domestic production, which has further improved the vertical integration and horizontal cooperation of the elevator industry chain.
1.The Dominance of Joint Ventures and the Rise of Independent Brands
In terms of the upstream and downstream links of the elevator industry chain, elevator manufacturing mainly involves basic raw materials and elevator component manufacturing. Steel and rare earths are the main raw materials used in elevator production. Steel is used to produce sheet metal processing components such as elevator cabs, frames, doors, hall doors, and upper and lower beams, while rare earths are the main raw material for permanent magnets in elevator core components.
In the midstream of elevator manufacturing, various types of elevator products are currently produced. In China, elevator products can mainly be classified into three types: vertical elevators, escalators, and auto walkways.
The downstream of the elevator manufacturing industry mainly includes real estate and construction industries. The development of the real estate market directly impacts the development of the elevator industry. In recent years, due to factors such as policy regulation, China's real estate market has seen a slowdown in growth, which has had an impact on the development of the elevator industry. However, China's urbanization process is speeding up, old residential areas are being reformed, urban population is increasing, and urban infrastructure construction such as rail transit, airports, and pedestrian overpasses is being strengthened. These factors will affect the growth rate of the elevator industry.
In terms of upstream suppliers, leading steel suppliers include Baowu Steel, ShaSteel Group, Angang Steel Group, and Capital Steel Group. Key rare earth suppliers include northern rare earths, Wukang rare earths, Guangdong rare earths, and southern rare earths. Nonferrous metal suppliers include Zijin Mining Group, Aluminum Corporation of China, Tongling Nonferrous Metals Group, and Shaanxi Nonferrous Metals Group.
In the midstream of elevator manufacturing, participants in China's elevator manufacturing industry are mainly divided into two categories: internationally renowned elevator brands and independently developed elevator brands in China. Internationally renowned elevator brands have entered the Chinese market early on and occupy a large market share due to their technological advantages. In recent years, independently developed elevator brands in China have also been growing and developing through their own efforts. Foreign-funded elevator manufacturers including Otis Elevator, FUJI elevator, Schindler Elevator, Hitachi Elevator and other well-known brands; while domestically developed elevator manufacturers including Kone Elevator,Yixing Elevator, and other leading brands.
In the downstream application market for elevators, the main users include infrastructure industries, real estate developers and construction companies, commercial malls and supermarkets, and municipal engineering projects.
2.Top 3 regional distribution of elevator industry chain: Guangdong, Zhejiang, Jiangsu
In terms of regional distribution, elevator manufacturing enterprises are more concentrated and resources are more abundant in the esst and south area where the regional economy is developed, industrial supporting facilities are mature, and elevator processing needs are relatively large.
From the perspective of the distribution of representative enterprises, China's elevator industry chain-related enterprises have developed rapidly in economically developed regions such as Guangdong, Zhejiang, and Jiangsu. Among them, Nanxun in Zhejiang is an important elevator industry cluster in China.
According to statistics, there are 68 elevator-related enterprises settled in Nanxun, including 21 high-tech enterprises. Nanxun's elevator production and sales account for about 50% of Zhejiang Province and 10% of the country, with an annual output value exceeding RMB10 billion. At present, Nanxun has formed a complete industry chain integrating elevator machine manufacturing and core component production. Among them, FUJI Elevator is its typical representative, especially for FUJI passenger elevator and FUJI escalators.
3.Classification of China's elevator
Based on the performance of various brands in China's market in terms of research and development capabilities, product quality, service levels, and customer satisfaction, China's elevator industry competition enterprises can be divided into four levels. The well-known foreign elevator companies represented by KONE, Hitachi, and Otis still lead the domestic elevator market. Together with Mitsubishi Elevator, they form the first level. Joint venture brands such as FUJI Elevator, Schindler Elevator, Toshiba Elevator, and Thyssenkrupp Elevator rank in the second level due to their excellent product quality.Local elevator companies such as Yongda Elevator, Kangli Elevator, and Xiao Elevator have strong development momentum as representative brands of national elevator products and rank in the third level.Other small and medium-sized elevator companies in China's elevator industry rank in the fourth level.
Otis Elevator: Otis Elevator is one of the world's largest suppliers and service providers of elevators, escalators, and walkways. Founded in 1853, it has always been committed to researching, developing, manufacturing, installing, maintaining, and renovating elevator transportation systems such as elevators, escalators, and automatic walkways. Its products account for 27% of the global market share. With its excellent technical strength and innovation ability, it creates safer, more comfortable, and more convenient vertical transportation travel experiences for people.
Mitsubishi Elevator: A Japanese elevator brand founded in 1951. It is one of the well-known elevator companies in the world. Mitsubishi Elevator enjoys widespread user reputation in the Chinese market for its excellent technology and quality. Its product line covers various fields such as passenger elevators, freight elevators, escalators, and automatic walkways. It continuously innovates and improves to meet different customer needs. At the same time, Mitsubishi Elevator also focuses on service and maintenance to provide customers with comprehensive solutions to ensure safe, stable, and long-lived operation of elevators.
FUJI Elevator: FUJI Elevator is a joint venture brand established by Japanese Fuji Electric Co., Ltd. and Chinese elevator manufacturers. It focuses on researching, developing, manufacturing, and selling FUJI elevators, FUJI escalators, FUJI auto walkways. The company has advanced technology and production equipment. It uses elevator technology from Japanese Fuji Electric Co., Ltd., combines it with Chinese market needs for innovation and improvement. FUJI Elevator emphasizes product safety, comfort, and energy saving. It provides comprehensive services including installation, maintenance, renovation, and upgrading to become an excellent global building transportation solution service provider.
Yongda Elevator: A Chinese elevator brand established in 1993 that specializes in researching, developing, manufacturing, and selling elevators, escalators, automatic walkways. Yongda Elevator adheres to the business philosophy of "technology first, quality first, service first" and continuously expands and innovates its product line to improve its technical and service levels. Its products have high popularity and reputation in the domestic market. At the same time, they are exported to multiple countries and regions worldwide. Yongda Elevator focuses on quality and service to provide customers with safe, comfortable, efficient elevator solutions that make people's lives more convenient and better.