Vietnam's elevator market breaks through: A 'golden' opportunity in the digital age

The Vietnamese elevator market is witnessing simultaneous growth in two seemingly separate segments: home elevators and freight elevators.

Home elevators serve the needs of convenience in living spaces while freight elevators meet the operational requirements of industrial parks, logistics, and commercial centers. This parallel breakthrough not only reflects the resilience of the economy but also opens up great opportunities for brands that grasp the right trends.

Opportunities and challenges for the elevator market in the new era

Vietnam's elevator market is considered to have the highest growth rate in Southeast Asia. According to a report published in July 2024 by MarketsandData - an international market research firm specializing in providing data and growth forecasts for many industries, the size of Vietnam's elevator and escalator market reached about 412 million USD in 2022 and is expected to reach nearly 751 million USD by 2030, with a compound growth rate of approximately 7.8%/year.

According to estimates by the Vietnam Elevator Association, by early 2025, Vietnam will be operating about 400,000 elevators nationwide. The demand for new elevator installations each year is estimated at about 35,000 - 40,000 units. In particular, the freight elevator segment is considered to grow rapidly, thanks to the boom of industrial parks, logistics centers and commercial infrastructure.

In addition, home elevators are becoming an inevitable trend in the wave of urbanization. As land funds are increasingly narrowing and the trend of building 3-5 storey high-rise buildings in urban and suburban areas becomes more popular, the demand for installing elevators in private homes is increasing sharply. Along with improvements in design, energy saving and the ability to install in small spaces, this product line is gradually becoming the "new standard" in modern housing projects.

Home elevators are becoming more popular in high-rise buildings. Photo: Alphanam.

Currently, Vietnam is entering a period of rapid urbanization, with a series of new urban areas, social housing, and industrial parks being planned. In particular, the plan to develop 1 million social housing units in the period of 2021 - 2030 creates a great demand for elevator installation. The strong development of the two segments of home elevators and freight elevators is opening up great opportunities but also posing challenges for businesses in the industry. Consumers are increasingly demanding in terms of safety, compact design, energy saving and after-sales service. This trend opens up opportunities for elevator brands that are capable of innovating technology and comprehensive customer service.

Elevator brand "leading the way" in home elevator and freight elevator trends

In the context of the strong growth of the Vietnamese elevator market, businesses in the industry are actively adapting to new trends in technology and design. Some trendy elevator brands have turned to smooth operation solutions, energy savings and streamlined cabin designs, suitable for limited spaces in civil and commercial buildings. Recognized by experts as the "architect's elevator" brand, FUJIALPHA is one of the typical units demonstrating this approach through the development of flexible products that both meet technical requirements and enhance the user experience.

FUJIALPHA stands out with its orientation of developing advanced, energy-saving products suitable for urban spaces. Photo: Alphanam.

With 20 years of accompanying the Vietnamese elevator industry, FUJIALPHA has built its reputation thanks to its strategy of continuous innovation and product improvement. This brand is known for its pioneering role in leading trends, from introducing themed cabin collections to regularly launching new products, to meet diverse needs and enhance user experience. More importantly, this elevator company focuses on consumer psychology when placing after-sales service, from warranty to maintenance, at the center so that customers can feel secure when experiencing the product.

In 2023, FUJIALPHA launched the new product line FUJIALPHA ECO with the advantages of an elevator line for every home. Up to now, FUJIALPHA ECO continues to receive positive feedback from users. Based on strict Japanese standards, FUJIALPHA ECO is designed to ensure outstanding durability, stable operation, safety for users and most of all, maximum energy savings - just like the word "ECO" in the name.

FUJIALPHA ECO is considered "the elevator for every home". Photo: Alphanam.

At the same time, over the years, FUJIALPHA has focused on developing freight elevator solutions that integrate modern technology, helping businesses optimize operations and safety in industrial and commercial environments. Currently, hundreds of businesses in Vietnam have trusted and chosen FUJIALPHA as their freight elevator supplier, with many successful projects with large loads from 3 - 5 tons.

Thanks to its flexible design, high load capacity, fingerprint-resistant stainless steel material and intelligent control system, FUJIALPHA's freight elevator products not only meet the requirements of transporting heavy goods but also help minimize risks and optimize operational efficiency in industrial parks, logistics centers and modern commercial buildings. FUJIALPHA provides solutions that ensure both performance and ease of maintenance, suitable for continuous operation; thanks to that, this brand is gaining the trust of partners, becoming the priority choice in modern industrial and commercial projects.

FUJIALPHA's freight elevators help improve operational processes, ensuring maximum safety in the production environment. Photo: Alphanam.

Commenting on FUJIALPHA's direction, some experts believe that this brand has caught up with the current trend, when elevators are not only a means of transportation, but also a part of the modern architectural language. With strong development momentum and explosive urbanization, the Vietnam Elevator Association predicts that the number of elevators in operation nationwide will reach a spectacular milestone of 1 million units by 2045, affirming Vietnam's position as one of the most potential vertical transportation markets in Southeast Asia, opening up investment and cooperation opportunities for domestic and international enterprises.

Source: https://nongnghiepmoitruong.vn/thi-truong-thang-may-viet-nam-but-pha-co-hoi-vang-trong-ky-nguyen-so-d782463.html