Elevators are a type of vertical transportation equipment primarily used for the conveyance of people and goods between floors within buildings. They typically consist of a drive system, car, counterweight device, traction wire rope, guiding system, door system, electrical control system, safety protection system, and corresponding mechanical structures. Elevators can be classified into various types based on their usage scenarios and functions, including passenger elevators, residential elevators, freight elevators, sightseeing elevators, hospital bed elevators, and others.

         In China, the elevator manufacturing industry has developed rapidly, making it one of the largest elevator production and consumption markets in the world. Chinese elevator products not only meet domestic market demands but are also extensively exported to various parts of the world, catering to the global construction market. With the advancement of technology, elevators are evolving towards intelligence, energy efficiency, and comfort. This includes the adoption of Internet of Things (IoT) technology for remote monitoring and fault diagnosis, as well as the use of variable frequency control technology to enhance operational efficiency and passenger experience.

        The import and export performance of the Chinese elevator industry has been active and continuously growing. According to customs data, from 2018 to 2022, the export value of elevators showed a fluctuating upward trend, with a significant decline in 2020, possibly due to the impact of the global COVID-19 pandemic, leading to reduced market demand or supply chain interruptions. However, in the subsequent years of 2021 and 2022, the export value recovered and exceeded the level of 2018. During the same period, the overall export quantity of elevators also showed an upward trend, despite a slight decrease in 2021, but still maintaining a relatively high base, indicating an expansion of China's elevator market share globally. By 2023, the export value of elevators further increased to $2,173,508,920, representing a 6.64% growth compared to the same period in 2022, and the export quantity also significantly increased to 100,639 units, a year-on-year increase of 14.06%. This indicates the continuous enhancement of the competitiveness of the Chinese elevator industry in the international market.

        After the pandemic, especially in 2023, the highlights of China's elevator exports (HS: 84281010, 84284000) were concentrated in markets along the "Belt and Road" initiative, such as Russia, the Philippines, Kazakhstan, Indonesia, the United Arab Emirates, Saudi Arabia, Vietnam, Bangladesh, Thailand, and others. These countries, amid accelerated economic development, infrastructure construction, and urbanization processes, have seen an increase in demand for building transportation equipment like elevators. As a result, they have become important target markets for China's elevator exports.

        The export to emerging markets and developing countries was particularly prominent, accounting for 21.6% of China's total elevator exports in 2023. Among these, emerging economies comprised a significant portion, with Russia, India, and Turkey being the main recipients, constituting 35.51%, 19.95%, and 12.83% of the total exports to emerging economies, respectively. Additionally, China's elevator exports actively penetrated developed country markets. Moreover, in specific markets such as Europe and North America, China's elevators have been gradually expanding market share due to their competitive pricing advantage.

        Overall, the Chinese elevator export market has maintained a steady upward trend despite facing a series of challenges. Continuous technological innovation and market expansion have elevated the position of the Chinese elevator industry within the global elevator supply chain. However, market demands are constantly evolving, and as Chinese suppliers, it is essential to closely monitor the latest foreign trade data and any relevant policy changes.

        Guomao Tong, as China's first data company, can provide import and export customs data from over 80 countries since 2010. We are capable of accurately analyzing the distribution of import and export markets online, as well as providing detailed transaction information of import and export enterprises, specific quantity and price analysis, and supply cycles. We offer reliable data for major foreign trade enterprises and industry consulting firms as a basis for decision-making.

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