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The Korea Herald
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THE INVESTOR
March 29, 2024

Industrials

Hyundai Elevator extends lead over Thyssenkrupp, Otis

  • PUBLISHED :August 01, 2017 - 16:21
  • UPDATED :August 01, 2017 - 16:27
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[THE INVESTOR] Hyundai Elevator, the nation’s No. 1 elevator maker affiliated with Hyundai Group, extended its lead over foreign rivals in the first six months of this year, according to data from Korea Elevator Safety Agency on Aug. 1.

The company installed 9,994 elevators in the January-June period, with its market share increasing by 2 percentage points to 43.5 percent. During the same period, its foreign rivals, Germany’s Thyssenkrupp and Otis of the US, saw their market share drop slightly to 24.7 percent and 10.9 percent, respectively. 




Industry watchers say the company’s recent push for NewYzer Signature, an elevator brand for low-rise residential buildings, especially played a key role in elevating its overall sales this year.

Hyundai has seen its market share decline in recent years as the No. 2 Thyssenkrupp has been slowly catching up since 2013.

Hyundai Elevator, established in 1984, is the only listed subsidiary of Hyundai Group.

By Song Seung-hyun (ssh@heraldcorp.com)

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