Vietnam is becoming an important elevator import market for China

Vietnam's imports of Chinese elevators surge nearly 50% in one year

According to Chinese customs data, in 2025, China exported 126,833 passenger elevators, with a total value of 16.01 billion yuan (over 61,321 billion VND). Compared to 102,083 units in 2024, the volume increased by approximately 24%.

Equipment was exported to 94 countries and territories with volumes of 100 units or more. In China's global elevator export landscape, Vietnam has emerged as one of the fastest-growing markets.

Vietnam accounted for approximately 3% of China's total passenger elevator exports in 2025. The gap between Vietnam and several markets just above it is not significant: Malaysia imported 211 more units, while Australia imported 525 more. Meanwhile, Vietnam's imports have surpassed those of Turkey and India.

If this growth momentum is maintained, Vietnam could continue to improve its ranking among the group of markets importing Chinese elevators in the coming years.

The most noticeable change lies in the pace of import growth. In 2024, data from Chinese customs showed that Vietnam imported 2,578 passenger elevators and 360 escalators from China. By 2025, passenger elevator imports rose to 3,838 units, while escalator imports fell to 300 units.

Thus, in just one year:

- Total imported equipment volume increased by 40.8%;

- Passenger elevators alone increased by 48.9%;

- Escalators decreased by approximately 16.7%.

The data shows that the main growth driver comes from the demand for passenger elevator imports. This is also the product category where Chinese manufacturers hold significant advantages in scale, configuration diversity, and cost.

Additionally, for Vietnam, the relatively low average price per unit suggests that a significant portion may consist of standard elevator models serving small and medium-sized projects, factories, and private homes. These configurations may be considerably lower in quality compared to the average of countries/regions with stringent quality standards and certification requirements, such as Europe or the United States.

 Why is China ramping up elevator exports?

The prolonged downturn in the domestic real estate market has forced many Chinese companies to seek orders in overseas markets. The overcapacity built up during the previous period of rapid real estate growth creates pressure to maintain capacity utilization and expand export output.

In addition, OEM and ODM manufacturing capabilities are also a significant advantage. Many factories not only produce products under their own brands but also design and manufacture for other brands. 

For the Vietnamese market, the geographic proximity helps shorten delivery times, reduce logistics costs, and facilitate the supply of spare parts. These are important factors in a context where customers are increasingly attentive to project timelines, investment costs, and the ability to replace equipment during operation.

How many elevators could Vietnam import by 2030?

International market research reports project that the Vietnamese elevator market could maintain a compound annual growth rate of approximately 7.5–7.8% in value. The primary drivers come from urbanization, the development of apartment buildings, social housing, public works, factories, and the demand for elevator installation in private residences.

Using the 2025 import figures as a baseline, three scenarios for passenger elevator imports from China can be considered:

These are estimated scenarios, not official forecasts. The feasibility of these scenarios depends on construction growth, policies governing imported goods, domestic purchasing power, exchange rates, the production capacity of Vietnamese enterprises, and competition from other supply sources.

The nearly 49% increase in passenger elevators alone in 2025 is unlikely to be sustained continuously over the long term. However, even if growth slows down, Vietnam is still likely to remain an important market for the Chinese elevator industry.

Opportunities alongside pressures for Vietnamese enterprises

Supply from China offers numerous benefits to the Vietnamese market, including competitive pricing, short delivery times, diverse products, and a relatively abundant source of spare parts. This contributes to expanding elevator accessibility for various customer segments.

However, the rapid increase in imports also raises the bar for quality management. While sharing Chinese origin, products can differ significantly in design, materials, level of finishing, applicable standards, and the availability of long-term spare parts.

Therefore, quality control cannot be limited to the inspection of finished equipment alone, but must encompass technical documentation, configuration consistency, traceability, and after-sales maintenance capabilities.

From a long-term perspective, the issue is not just about the number of imported units. The more important question is whether Vietnamese enterprises will continue to primarily import and install, or gradually master design, control technology, operational data, technical standards, and supporting industries.

The year 2025 marked a notable shift as Vietnam became the eighth-largest market for Chinese passenger elevator imports. More than 4,100 elevators and escalators imported during the year not only demonstrate the scale of domestic demand but also reflect Vietnam's increasingly important position in the market expansion strategies of Chinese manufacturers.

In the coming years, the question is not only how many Chinese elevators will enter Vietnam, but also how Vietnam will leverage this trade flow to enhance market quality, develop supporting industries, and progressively increase its technological mastery.