The decline in production was observed in January-June 2022, according to the Federal State Statistics Service.
Thus, production decreased by 41 percent, while in the first half of 2019-2020 there was growth in this industry by 16-18 percent, reports Kommersant.
Many experts suggest that the decline is due to the withdrawal of foreign manufacturers from the Russian market.
For example, in March the American company Otis stopped taking orders for new elevators and escalators in Russia. It also stopped investing, and in July it sold its plants, which were located in St. Petersburg and Scherbinka to the investment company S8 Capital.
Finnish elevator manufacturer KONE announced in June that it was leaving Russia. Foreign manufacturers of elevators accounted for 21 percent of the Russian market in 2021, according to Forbes.
In addition, the reduction of production volumes is explained by a decrease in the rate of construction in the country. Developers in the spring postponed the start of a number of projects and postponed the purchase of elevators. Also affected by the sharp increase in the cost of credit and logistics difficulties of Russian companies.
Experts believe that the authorities will refuse to replace elevators that are less than 25 years, and will direct resources to replace emergency equipment.