China elevator market set to slow after peaking last year

Tokyo

THE world's biggest elevator maker said China's best days may be behind it.

After peaking at 600,000 units last year, sales in China may drop to about 500,000 next year amid a surplus of apartments and slowdown of people moving to big cities, Otis Elevator Co President Philippe Delpech, who heads the world's largest maker of elevators, said in an interview in Tokyo this month. After that, the market in China, where more than two-thirds of elevators are sold, may stabilise, he said.