Core Insights - The elevator industry in China has entered a "post-market-driven" era since 2025, with policy drivers, technological iterations, and demand stratification being the core engines of industry transformation [1] - As of August this year, the number of elevators in use in China reached 12 million, accounting for half of the total special equipment, with 1.15 million elevators in use for over 15 years [1] - The industry is shifting from a "manufacturing-driven" model to a "service-oriented" model, with after-market services expected to become a "second growth curve" for the elevator industry [1] - The industry faces increasing competition, safety incidents, quality decline, and environmental issues that need urgent resolution [1] Regulatory Developments - The National Market Supervision Administration is set to solicit public opinions on the elevator safety technical regulations, which will significantly impact the design, manufacturing, installation, maintenance, and inspection of elevators in China [2] - A seminar on elevator quality, safety, and sustainable development will be held from September 9 to 12, 2025, to discuss the new requirements and challenges in the industry [2][3] Safety and Quality Challenges - The elevator industry is currently facing challenges such as declining product quality and severe safety issues, necessitating standardization and technological innovation to address these problems [3] - From January to August 2025, there were 20 reported elevator-related accidents, resulting in 20 deaths and 4 injuries, indicating a rise in incidents compared to the previous year [4] - The National Market Supervision Administration is implementing measures to improve regulations and standards, enhance responsibilities, and promote the updating and renovation of old elevators [4] Industry Collaboration and Standards - The need for standardized procedures for elevator dismantling and resource recycling is emphasized, as the demand for updating and renovating aging elevators increases [5][7] - The Huazhong Precision Technology Co., as a key drafting unit, aims to promote a closed-loop model for the elevator industry, transitioning from a linear to a circular economy approach [7] - During the standard week meeting, discussions were held on revising four group standards related to elevator systems, emphasizing the importance of aligning with the new regulations [8] Future Directions - The elevator industry is encouraged to adopt higher technical standards and invest in research and development to enhance product performance and safety [8] - The focus on green, low-carbon, and sustainable practices is expected to drive the industry's high-quality development [8]