GiantKONE Elevators

What GiantKONE Elevators does

GiantKONE Elevator Co., Ltd. (巨人通力电梯有限公司) is a Chinese elevator and escalator manufacturer headquartered in Nanxun Economic Development Zone, Huzhou, Zhejiang Province, with a Shanghai operations office. Founded in 2005 as a joint venture between Finland's KONE Corporation and Zhejiang Giant Elevator Co., Ltd., the company became a wholly-owned KONE subsidiary in 2016 after KONE acquired the remaining 20% stake for approximately $203 million. GiantKONE operates a single factory with a 6,000-unit annual production capacity and a nationwide branch network of 30+ sales and service locations, employing over 3,000 people.

The company manufactures a full portfolio of vertical-transportation equipment built on KONE-licensed machine-room-less and small machine room technologies, including the GPN series of machine-room-less passenger elevators, the GPS series of small machine room elevators, the GE commercial escalator line, sightseeing and hospital bed specialty elevators, and a proprietary GM8 disc motor co-developed with KONE. Product-level safety features include AI-powered escalator video monitoring, IoT-enabled safety multimedia screens with GPS positioning and active trapped-passenger alarms, and energy feedback drive systems that regenerate electricity during operation. The product range is unified under KONE's global technology platform and quality standards, with full lifecycle coverage from new installation through maintenance and modernization/upgrade services for legacy installations over 15 years old.

GiantKONE generates revenue through three streams: new elevator and escalator equipment sales (quote-based, project-tied), recurring maintenance contracts delivered through its branch network with 24-hour hotline support, and modernization services including component updates and full system replacements. The company sells primarily to Chinese real estate developers, government and infrastructure projects (including airports, metro systems, sports venues, and the Wenchang Satellite Launch Center), hospitals, and cultural/tourism facilities, with distribution supported by direct enterprise field sales, KONE's global supply chain, and a new retail channel signaled by its Qingdao flagship experience center. The company is recognized as a 2025 National Green Factory and holds National High-Tech Enterprise status, with multiple national quality certifications supporting its position in government and premium commercial tenders.

Name

GiantKONE Elevators

Legal name

GiantKONE Elevator Co., Ltd. (巨人通力电梯有限公司)

Website

https://giantkone.com

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

GiantKONE is a wholly-owned KONE subsidiary manufacturing elevators, escalators, and autowalks in China using KONE-licensed machine-room-less technology, serving real estate developers, government/infrastructure projects, hospitals, and cultural venues through 30+ branches and an installed base exceeding 800,000 units.

Ownership category

akta.pro rank

Product category

Elevator and Escalator Manufacturing

NAICS

Elevator and Moving Stairway Manufacturing (333921)

SIC

Construction, Mining & Materials Handling Machinery & Equip (3530)

akta.pro primary industry

Residential Modular & Prefabricated Home Construction (IMAFABAF)

akta.pro secondary industry

Elevator, Escalator & Lift Maintenance (IMAIABAF)

Keywords

• Elevator manufacturing
• Escalator manufacturing
• Machine-room-less elevators
• Elevator maintenance services
• Vertical transportation solutions

Headquarters

HQ city

Huzhou

HQ country

China

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. New Elevator and Escalator Equipment Sales: Manufacturing and sales of elevators, escalators and autowalks including passenger elevators, machine-room-less elevators, small machine room elevators, sightseeing elevators, bed elevators, and cargo elevators. The company has annual production capacity of 6,000 units.
2. Maintenance and Service: Comprehensive maintenance services for elevators and escalators including 24-hour hotline support, installation management, and ongoing service delivery through branch network.
3. Modernization and Upgradation: Component updates, modular modernization, and full elevator/escalator replacement services for existing installations, ranging from partial upgrades to complete system replacements.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

GiantKONE designs, manufactures, sells, installs, and services elevators, escalators, and autowalks in China for residential, commercial, healthcare, infrastructure, and public-building applications, with an annual capacity of 6,000 units. Its portfolio spans machine-room-less passenger elevators (GPN series), small machine room elevators (GPS series), commercial escalators and autowalks (GE series), hospital bed elevators, sightseeing elevators, and home elevators, complemented by 24-hour hotline maintenance, modernization, and full lifecycle service programs delivered through 30+ nationwide branches.

Product overview

GiantKONE Elevators is a subsidiary of Finland-based KONE Corporation, established in 2005 as a joint venture and now wholly owned by KONE. The company offers a comprehensive portfolio of elevator and escalator solutions for all building types, including machine-room-less elevators (GPN series), small machine room elevators (GPS series), commercial and residential escalators (GE series), and specialty elevators for hospitals and sightseeing applications. The product portfolio is unified under KONE's global technology platform, with key innovations including the GM8 disc motor, advanced control systems (KONE LCE™ and GiantKONE GCE™), and energy feedback technology. The company also provides full lifecycle services including installation management, maintenance packages, and modernization programs for existing installations.

Differentiator

Problem solved

Functional benefit

Brands

• GM8 Disc Motor: High-performance disc motor developed through KONE's 20+ years of experience in dish motor technology.
• GPS73K Small Machine Room Passenger Elevator
• GVN11 Signal System
• GPN65/GPN63E Machine-Room-Less Elevator
• GPS35S/GPS55 Small Machine Room Elevator
• HISSI鸿昇

Products and services

• GPN63E Machine-Room-Less Passenger Elevator Machine-room-less passenger elevator featuring compact hoistway design that improves space utilization and reduces construction costs while delivering smooth and comfortable passenger transport, intended for real estate developers and commercial building projects in China.
• GPN65 Machine-Room-Less Elevator Machine-room-less elevator that saves space, construction time, and materials while facilitating subsequent maintenance; incorporates KONE's world-leading machine room-less technology for residential, commercial, and high-rise applications.
• GPS33E Small Machine Room Passenger Elevator Small machine room passenger elevator with high startup frequency, carrying speed and capacity, intended for high-traffic residential and commercial buildings.
• GPS73K Small Machine Room Passenger Elevator High-speed small machine room passenger elevator designed for commercial applications, featuring advanced control systems and energy-efficient technology.
• GM8 Disc Motor High-performance proprietary disc motor jointly developed by KONE and GiantKONE, used as the core drive component in GPN65K machine-room-less passenger elevators for efficient and reliable operation.
• GE20KII Commercial Escalator Commercial escalator designed and manufactured for commercial application and public transportation, combining outstanding usability and durability with safety and quality design concepts.
• GPS53E Small Machine Room Bed Elevator Hospital bed elevator with extra-wide doorway for easy bed entry and exit, mirror stainless steel rear wall, disabled-access manipulator, Braille buttons, and car air purification system, intended for healthcare facilities.
• GPN63E Bed Elevator Machine-room-less bed elevator designed for hospital applications with features including foldable seats, soothing music, and warm car wall colors for patient comfort, intended for medical facilities.
• GON20K Machine-Room-Less Sightseeing Elevator Machine-room-less sightseeing elevator designed for aesthetic building integration while providing smooth vertical transportation, intended for tourism, hospitality, and signature architectural projects.
• GVN11 Home Elevator Signal System Next-generation signal system for household elevators developed per KONE's new product development process, with non-display call box, display call box, keyboard manipulator, and multimedia LCD manipulator options, intended for residential home elevator installations.
• Maintenance Services Professional elevator and escalator maintenance services with 24-hour hotline support, delivered through the nationwide 30+ branch network for installed equipment in residential, commercial, infrastructure, and healthcare buildings.
• Modernization Services Comprehensive modernization services including full elevator/escalator replacement for buildings over 15 years old, modular modernization for partial subsystem upgrades, and component updates covering hoist systems, control systems, door systems, and car decoration.
• HISSI Home Elevator Series New home elevator product series under the HISSI (鸿昇) brand name, offering professional elevator solutions tailored to residential home lift requirements.

Quantifiable outcome

• Energy efficiency improvement through modernization
• +2 more outcomes

Named customers10 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature9 records

Partnerships

Three partnerships are on record, tiered core and flagship.

• Sinic Group (新力集团)coreGTM or Marketing Partner · 20 May 2019Sinic Group partnered with GiantKONE for residential development projects. GiantKONE was awarded the 'Best Cooperation Award' (highest gold award) from Sinic Group among 400+ suppliers at their partner communication meeting in Shanghai.
• China Jinmao (中国金茂)coreStrategic or Co-development Partner · 1 November 2017China Jinmao, a top 500 real estate and hotel company under Sinochem Corporation, partnered with GiantKONE for West Sichuan public welfare initiatives and has ongoing projects in Foshan, Chongqing, Beijing and other locations. Cooperation spans over a year with joint community development efforts.
• KONE CorporationflagshipStrategic or Co-development Partner · 18 July 2005KONE Corporation (Finland, founded 1910) is the parent company of GiantKONE. GiantKONE started as a joint venture (KONE 40%, Giant Holdings 60%) in 2005 and became a wholly-owned KONE subsidiary in 2016. KONE provides technology licensing, global supply chain access, R&D support, and quality standards. GiantKONE manufactures and distributes elevator and escalator products in China under KONE technology and brand.

Scale indicators9 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Mitsubishi Electric (Elevator & Escalator Division): Japanese elevator manufacturer with substantial China operations through joint ventures. Direct competitor in high-rise and high-speed elevators, escalators, and modernization services. Comparable product quality tier and competes for similar premium commercial and infrastructure projects.
• Hitachi (Elevator Business): Japanese elevator manufacturer with strong presence in China. Directly competes across the same product categories (passenger elevators, escalators, MRL systems) and shares the same target customer segments in Chinese real estate, airports, and government infrastructure.
• Schindler Group: Swiss global elevator and escalator company with significant China operations. Directly competes with GiantKONE in mid-to-high-rise elevators, escalators, and modernization services across Chinese real estate and infrastructure markets. Comparable technology positioning and customer base.
• Otis Elevator Company: World's largest elevator and escalator manufacturer (spun off from United Technologies in 2020). Direct competitor to GiantKONE in China across residential, commercial, and infrastructure segments, with comparable product portfolio of MRL elevators, escalators, and service offerings. Both companies compete for marquee real estate, airport, and government contracts.
• Hyundai Elevator: Korean elevator manufacturer expanding in China and Asia. Direct competitor in mid-to-high-rise elevators with comparable product features (MRL, energy efficiency) and serves similar commercial and residential segments. Smaller in China than the top global majors but increasingly competitive.
• SJEC Corporation: Leading Chinese domestic elevator manufacturer (Suzhou-based). Direct competitor in the Chinese mid-market residential and commercial elevator segment. Competes primarily on price and local service network rather than premium technology, putting pressure on GiantKONE's lower-end offerings.
• TK Elevator (formerly ThyssenKrupp Elevator): German global elevator company (acquired by private equity and operating as TK Elevator). Direct competitor in China with comparable product portfolio, technology positioning, and customer base across new equipment, service, and modernization.

Broad incumbents

• KONE Corporation: Finnish global elevator and escalator manufacturer and GiantKONE's 100% parent company. Operates in 60+ countries with 50,000+ employees. Comparable because it shares the same elevator/escalator product portfolio, technology platform, and serves the same end customers globally, though KONE's broader geographic footprint and brand make it a parent/incumbent rather than direct domestic competitor.

Emerging players

• Canny Elevator: Chinese domestic elevator manufacturer focused on residential and light commercial segments. Competes with GiantKONE in price-sensitive Chinese real estate projects. More limited geographic and product breadth but represents the local competitive pressure in mid-market segments.
• Volkslift: Chinese elevator manufacturer (part of broader industrial group) competing in residential and commercial elevator segments. Comparable product portfolio focused on cost-competitive offerings for Chinese developers, representing direct competitive pressure on GiantKONE's mid-tier product lines.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about GiantKONE Elevators