Hitachi has announced plans to deliver the world’s fastest ultra-high-speed elevator for a new skyscraper in China set to open in 2016. The smart mobility device will be installed in the currently under construction CTF building in Guangzhou, southern China which has 111 floors above the ground containing apartments, hotel space and offices.

The company will deliver a total of 95 elevators, including 28 double-decker cars, 13 high-speed and 52 low and medium-speed versions, to the 530-meter-tall building CTF Finance Center. With a speed of 45 miles per hour, they will be the fastest elevators in the world, says a BBC report. The new project includes two record breaking elevators that can zip from the first floor to the 95th in just 43 seconds.

Hitachi Developing World's Fastest Elevator

This record-breaking speed is achieved by means of a thin-profile, permanent magnet synchronous motor and a compact traction machine. Lifting the system higher is easier with a lighter, thinner cable, reducing the size of the equipment and lightening its weight, which makes it easier to lift.

Hitachi’s ambitious project uses technologies to create record-breaking speeds while still meeting the essential standards of safety and comfort. The two express elevators will feature technologies that prevent lateral vibrations and noises due to the drastic air pressure changes. High heat-resistant materials will enable operation of emergency brake systems at temperatures over 300 degrees Celsius. A speed governor will regulate the speed and rollers will make the rides more comfortable.

Currently, the world’s elevator speed record is held by Taipei 101, which can travel around 37.65 miles per hour, carrying passengers from the fifth floor to the 89th in 37 seconds.

RnRMarketResearch.com forecast that world demand for elevators will rise nearly 6% annually through 2017. It was also predicted that the US market will outpace that in other developed countries. According to the report, the Chinese market will generate nearly one half of the increase in world demand for elevator equipment and services during 2012-2017.