In the first quarter of 2025, Russian factories produced 5.4 thousand elevators, which is 10% less compared to the same period last year. The main reason for the decline in volumes was a decrease in elevator purchases by regional capital repair funds, which are replacing outdated equipment. A decline in activity is also observed among developers in housing construction.
The company "Moscow Electrical Equipment and Elevators" (MEL) confirmed to journalists a decrease in volumes but hopes to restore planned indicators by the end of the year. At the "Pulse" factory, production volumes remained at the level of last year, but the load is only 70–80%, and interest from industrial customers is decreasing.
Large consumers of elevators — regional capital repair funds — held auctions to replace 6.8 thousand elevators, which is 22% more than last year, but 40% less than in 2023. Petr Kharlamov, General Director of the Russian Elevator Association, noted that the lack of funding for the funds continues to negatively affect the market.
The decrease in developer activity also affects demand. In the first quarter of 2025, developers launched 8 million square meters of new projects, which is 25% less than last year. This situation leads to a decrease in elevator purchases from manufacturers.
Competition with foreign companies, especially from China, exacerbates the situation. Local manufacturers are losing ground in the market, as Chinese elevators are becoming increasingly popular. In the first quarter of 2025, 65% of the elevator equipment put into operation was produced in Russia, 17% in Belarus, and 13% in China.
Given the rising production costs and the current economic situation, prices for elevator equipment in Russia will continue to rise. This will affect the cost of installation and maintenance. Without serious changes in the industry, negative trends may continue, experts warn.
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