Market Scale and Global Leadership
Home lift China dominates the global elevator industry, producing over 80% of the world’s new elevators in 2023, with exports exceeding 84,000 units and revenue reaching $1.753 billion. The retrofit market is booming, with over 100,000 elevators installed in aging residential communities since 2018. Foreign brands like Otis and Schindler control 70% of the market, while domestic players such as Canny Elevator (3.4% share) focus on smart manufacturing and metro projects to enhance competitiveness.
Policy-Driven Growth and Demand Evolution
The expansion of home lift China is fueled by:
Regulatory Mandates: The 2025 Residential Project Code mandates elevators for buildings with four or more floors, driving demand for intelligent and space-efficient designs.
Aging-in-Place Initiatives: Over 36,000 elevators were added in 2023 under national retrofit programs, aligning with policies to improve accessibility for seniors.
Premiumization: Customized and eco-friendly solutions, like Thyssenkrupp’s villa elevators with 60mm shallow pits, cater to high-end residential needs.
Technological Innovation and Intelligence
China’s home lift sector is transitioning to smart manufacturing:
IoT Integration: Aritco’s SmartLift platform enables remote diagnostics, reducing downtime by 40% through predictive maintenance.
Sustainability: Permanent magnet motors and regenerative drives cut energy consumption by 40%, while solar-powered models gain traction.
Modular Solutions: SL Elevator’s prefabricated shafts reduce installation time to 72 hours, lowering costs by 20%.
Challenges and Strategic Shifts
Key challenges for home lift China include:
Technology Gaps: Domestic brands lag in high-speed elevator R&D, relying on imported core components.
Brand Positioning: Foreign brands dominate premium segments; local players must differentiate via partnerships (e.g., Canny Elevator’s metro collaborations).
Global Compliance: CE and ASME certifications require localized R&D to expand exports.
By 2031, China’s home lift market is poised to lead in service-oriented and intelligent solutions, supported by a $10 billion aftermarket and technological breakthroughs.
Home lift China is redefining global vertical mobility through policy-driven growth and technological innovation. From aging-in-place retrofits to intelligent manufacturing, its evolution sets benchmarks for scale and creativity worldwide.