Vietnam is becoming an important elevator import market for China

TCTM – In 2025, Vietnam imported 3,838 passenger elevators from China, an increase of nearly 49% compared to 2024, ranking 8th among the country's largest import markets. The data reflects a significant trade flow, while also raising the question: Will Vietnamese enterprises continue to merely play the role of importers and installers?

Kone and TK Elevator officially announce their merger plan

TCTM – On April 29, 2026, Kone Group and TK Elevator (TKE) announced a merger plan through a transaction combining cash and shares, with TKE's enterprise value valued at 29.4 billion euros (34 billion USD).

Kone close to finalising €29bn deal to buy TK Elevator

TCTM – Kone (Finland), an elevator manufacturer, is nearing a cash-and-stock deal to acquire its competitor TK Elevator (Germany), in a transaction that could become one of the largest divestitures by private equity funds in Europe to date.

Inovance introduces elevator technology solutions at Elevator Talk 2026

TCTM - In the context of Vietnam's rapidly growing elevator market, at the Elevator Talk seminar: Applying Technology to Elevators, Mr. Dennis Li - Senior Product Director for the International Market of Inovance Group - introduced a series of technological solutions aimed at enhancing safety and adaptability under real-world operating conditions in Vietnam.

When the elevator market is a 'red ocean'

TCTM - Over the past decade, alongside rapid urbanization and the construction industry boom, the elevator market in Vietnam has undergone significant changes. From apartment buildings, hotels, and shopping centers to townhouses and factories, elevators have gradually become a familiar part of the infrastructure—not only in large buildings but also in smaller-scale civil constructions.

For the first time, the National Elevator Exhibition Area will be organized at Vietnam Elevator Expo 2026

TCTM - For the first time at Vietnam Elevator Expo 2026, the National Elevator & Auxiliary Industries Showcase (VNEA Pavilion) will be established as the official representative space for Vietnamese elevator enterprises. It affirms comprehensive supply capabilities—from manufacturing, installation, and maintenance to auxiliary industries—within an exhibition framework of international stature.

The Vietnam Elevator Expo 2026 will be held in Hanoi for the first time

EM – After four successful editions in Ho Chi Minh City, in 2026, the Vietnam Elevator Expo International Exhibition will be held in Hanoi for the first time, marking a new development in the scale, scope of connections, and influence of Vietnam's most prestigious specialized elevator event.

Toshiba considers divesting its elevator segment, Kone shows interest

TCTM - Toshiba Group is considering the possibility of divesting part or all of its stake in Toshiba Elevator & Building Systems, in a context where Kone is seen as one of the potential buyers.

Hitachi transfers its stake in the home elevator joint venture to Mitsubishi Electric

TCTM – Hitachi Group has officially announced its decision to transfer all of its shares in Mitsubishi Hitachi Home Elevator Corporation to its joint venture partner, Mitsubishi Electric Building Solutions Corporation. The transaction is expected to be completed in the first quarter of the fiscal year ending March 2027.

Counterfeit goods 'creeps' intothe market, 'steals' market share of genuine elevator businesses

Lesson 2: Real estate project 'drip', how is the future of the elevator industry in the near future?