The elevator refers to the electromechanicalequipment which, driven by power, uses the car running along the rigid guide rails or steps running along a fixed route to go up or down or horizontally transport passengers and goods. Elevators include the vertically running elevator, the obliquely running escalator and the obliquely or horizontally running automatic sidewalks.

The performances of elevator products mainly include safety, reliability, efficiency and comfort.

Safety refers to the ability of elevator products to run safely and stably and the other performances of the elevator are based on safety. Reliability refers to the probability of elevator products maintaining their specified functions within the specified time. Efficiency refers to the transport capacity of elevator products within 5 minutes during the peak period. Comfort refers to the inner feelings passengers feel in taking elevators. Studies show that passengers require the shortest interval between opening and closing the elevator door to be 30 seconds and the longest time of reaching the destination floor to be 90 seconds. As a result, application of acceleration and deceleration and the adjustment of pneumatic devices can meet passengers’ requirements for comfort in taking elevators.

Elevator industry refers to the manufacturing of all kinds of elevators, escalators and automatic sidewalks, lifters and its accessories.

According to the Standard Industrial Classification Codes developed by  National Bureau of Statistics of China, in China the elevator industry is classified as Material handling equipment manufacturing (with Code C343) in General Equipment Manufacturing (with Code C34) and its 4-level statistical code is C3435.

At present China’s elevator production and sales, about 600,000units (76,000 units are exported), account for 2/3 of the world’s total. The production decreases by 3.3% as compared with 2013, the first decline in years; the exports increase by 15%, accounting for 12.67% of the annual production and sales; China’s elevator ownership is 3.55 units, accounting for about 27.5% of the world’s total.

According to 2016-2022 China’s Elevator Industry Analysis and Investment Trends Forecast Report released Bosi Data, in 2014 the elevator consumption in China was 640,600 units and the elevator industry’s sales amount was RMB 225.852 billion.