Asia-Pacific Elevator Market to 2032
Overview
The Asia-Pacific Elevator Market is expected to reach a 69.92 USD Billion by 2032 and is projected to grow at a CAGR of 8.56% from 2025 to 2032.
Revenue, 2024 (USD Billion)
36.53
Forecast, 2032 (USD Billion)
69.92
CAGR, 2024 - 2032
8.56%
Report Coverage
Asia-Pacific
Asia-Pacific Elevator Market 2018-2032 USD Billion
Asia-Pacific Elevator Market, Key Findings (2025-2032)
Market Growth and Projections:
- Market Size (2024): 36.53 USD Billion
- Projected Market Size (2032): 69.92 USD Billion
- CAGR (2025-2032): 8.56%
Key Findings of Asia-Pacific Elevator Market
- The Asia-Pacific Elevator Market was valued at 36.53 USD Billion in 2024.
- The Asia-Pacific Elevator Market is likely to grow at a CAGR of 8.56% during the forecast period of 2024 to 2032.
- In 2024, the Largest segment Single Deck in Deck Segment accounted for the largest share of the market with a revenue of 26.22 USD Billion
- The fastest growing segment 630kg (or less) in Capacity Segment grew Fastest with a CAGR of 10.03% during the forecast period from 2024 to 2032.
Asia-Pacific Elevator Market Scope
Asia-Pacific Elevator Market Segmentation & Scope
Door Type
- Others
- Swinging Door
- Manual Door
- Sliding Door
- Automatic Door
End Use
- Industrial
- Residential
- Commercial
Type
- Others
- Home Elevators
- Service Elevator
- Freight/ Cargo Elevator
- Passenger Elevator
Mechanism
- D.C. Elevators
- A.C. Elevators
- Others
- Hydraulic Elevators
- Traction / Cable Driven Elevators
- Machine Room Reduced (MRL) Elevators
Speed
- 5.0 mps (or more)
- 3.5 - 4.0 mps
- 2.5 - 3.0 mps
- 1.5 - 2.0 mps
- 1.0 mps (or less)
Destination Control
- Smart
- Conventional
Elevation
- High Rise Elevators
- Mid Rise Elevators
- Low Rise Elevators
Component
- Services
- Hardware
Deck
- Double Deck
- Single Deck
Capacity
- Over 2500kg
- 2000–2500kg
- 1600–2000kg
- 1050–1600kg
- 630–1050kg
- 630kg (or less)
Asia-Pacific Elevator Market Data Coverage Insights
| Study Period | 2024-2032 |
| Base Year | 2024 |
| Unit | Revenue in USD Billion |
| Market Value in 2024 | 36.53 USD Billion |
| Market Value in 2032 | 69.92 USD Billion |
| CAGR (2025-2032) | 8.56% |
| Historic Data | 2016-2023 |
| Market Segments Covered | Door Type,End Use,Type,Mechanism,Speed,Destination Control,Elevation,Component ,Deck ,Capacity |
Regional Insights:
-
Leading Market (2024-2032): Asia-Pacific, leading in terms of revenue 36.53 USD Billion in 2024
- Key Country: China, leading in terms of revenue with value of 12,376.34 USD Million in 2024.
Segments and Scope
-
Asia-Pacific Elevator Market to 2032, By Door Type
- Automatic Door is the largest segment in Asia-Pacific Elevator Market to 2032 with a revenue of 15.04 USD Billion in the year 2024.
- Automatic Door is the Fastest growing segment in Asia-Pacific Elevator Market to 2032 with a Growth rate of 9.32 % in forecast period 2025-2032.
-
Asia-Pacific Elevator Market to 2032, By End Use
- Commercial is the largest segment in Asia-Pacific Elevator Market to 2032 with a revenue of 18.32 USD Billion in the year 2024.
- Commercial is the Fastest growing segment in Asia-Pacific Elevator Market to 2032 with a Growth rate of 8.79 % in forecast period 2025-2032.
-
Asia-Pacific Elevator Market to 2032, By Type
- Passenger Elevator is the largest segment in Asia-Pacific Elevator Market to 2032 with a revenue of 18.84 USD Billion in the year 2024.
- Freight/ Cargo Elevator is the Fastest growing segment in Asia-Pacific Elevator Market to 2032 with a Growth rate of 8.63 % in forecast period 2025-2032.
-
Asia-Pacific Elevator Market to 2032, By Mechanism
- Machine Room Reduced (MRL) Elevators is the largest segment in Asia-Pacific Elevator Market to 2032 with a revenue of 13.18 USD Billion in the year 2024.
- Machine Room Reduced (MRL) Elevators is the Fastest growing segment in Asia-Pacific Elevator Market to 2032 with a Growth rate of 9.45 % in forecast period 2025-2032.
-
Asia-Pacific Elevator Market to 2032, By Speed
- 1.0 mps (or less) is the largest segment in Asia-Pacific Elevator Market to 2032 with a revenue of 16.49 USD Billion in the year 2024.
- 1.0 mps (or less) is the Fastest growing segment in Asia-Pacific Elevator Market to 2032 with a Growth rate of 9.02 % in forecast period 2025-2032.
-
Asia-Pacific Elevator Market to 2032, By Destination Control
- Conventional is the largest segment in Asia-Pacific Elevator Market to 2032 with a revenue of 20.40 USD Billion in the year 2024.
- Conventional is the Fastest growing segment in Asia-Pacific Elevator Market to 2032 with a Growth rate of 8.67 % in forecast period 2025-2032.
-
Asia-Pacific Elevator Market to 2032, By Elevation
- Low Rise Elevators is the largest segment in Asia-Pacific Elevator Market to 2032 with a revenue of 17.71 USD Billion in the year 2024.
- Low Rise Elevators is the Fastest growing segment in Asia-Pacific Elevator Market to 2032 with a Growth rate of 8.83 % in forecast period 2025-2032.
-
Asia-Pacific Elevator Market to 2032, By Component
- Hardware is the largest segment in Asia-Pacific Elevator Market to 2032 with a revenue of 23.83 USD Billion in the year 2024.
- Hardware is the Fastest growing segment in Asia-Pacific Elevator Market to 2032 with a Growth rate of 8.63 % in forecast period 2025-2032.
-
Asia-Pacific Elevator Market to 2032, By Deck
- Single Deck is the largest segment in Asia-Pacific Elevator Market to 2032 with a revenue of 26.22 USD Billion in the year 2024.
- Single Deck is the Fastest growing segment in Asia-Pacific Elevator Market to 2032 with a Growth rate of 8.61 % in forecast period 2025-2032.
-
Asia-Pacific Elevator Market to 2032, By Capacity
- 630kg (or less) is the largest segment in Asia-Pacific Elevator Market to 2032 with a revenue of 11.24 USD Billion in the year 2024.
- 630kg (or less) is the Fastest growing segment in Asia-Pacific Elevator Market to 2032 with a Growth rate of 10.03 % in forecast period 2025-2032.
Asia-Pacific Elevator Market Company Share Analysis
| Company Name |
|
||
| Hitachi, Ltd. | |||
| TOSHIBA CORPORATION | |||
| TK Elevator | |||
| Schindler | |||
| Otis Worldwide Corporation | |||
Asia-Pacific Elevator Market Geographical Sales Distribution, 2018-2032 USD Billion
Asia-Pacific Elevator Market Company Profiling
Industry Related Reports
Frequently Asked Questions
The Asia-Pacific Elevator Market is segmented based on Segmentation Door Type,End Use,Type,Mechanism,Speed,Destination Control,Elevation,Component ,Deck ,Capacity.
Asia-Pacific Elevator Market was valued at USD 36.53(Revenue in USD Billion) in 2024.
Asia-Pacific Elevator Market is projected to grow at a CAGR of 8.56% during the forecast period of 2024 to 2032.
The Single Deck segment is expected to dominate the Asia-Pacific Elevator Market, holding a largest market share of 26.22 USD Billion in 2024
Asia-Pacific Elevator Market Scope
Asia-Pacific Elevator Market Segmentation & Scope
Door Type
- Others
- Swinging Door
- Manual Door
- Sliding Door
- Automatic Door
End Use
- Industrial
- Residential
- Commercial
Type
- Others
- Home Elevators
- Service Elevator
- Freight/ Cargo Elevator
- Passenger Elevator
Mechanism
- D.C. Elevators
- A.C. Elevators
- Others
- Hydraulic Elevators
- Traction / Cable Driven Elevators
- Machine Room Reduced (MRL) Elevators
Speed
- 5.0 mps (or more)
- 3.5 - 4.0 mps
- 2.5 - 3.0 mps
- 1.5 - 2.0 mps
- 1.0 mps (or less)
Destination Control
- Smart
- Conventional
Elevation
- High Rise Elevators
- Mid Rise Elevators
- Low Rise Elevators
Component
- Services
- Hardware
Deck
- Double Deck
- Single Deck
Capacity
- Over 2500kg
- 2000–2500kg
- 1600–2000kg
- 1050–1600kg
- 630–1050kg
- 630kg (or less)
Frequently Asked Questions
The Asia-Pacific Elevator Market is segmented based on Segmentation Door Type,End Use,Type,Mechanism,Speed,Destination Control,Elevation,Component ,Deck ,Capacity.
Asia-Pacific Elevator Market was valued at USD 36.53(Revenue in USD Billion) in 2024.
Asia-Pacific Elevator Market is projected to grow at a CAGR of 8.56% during the forecast period of 2024 to 2032.
The estimated market value of the Asia-Pacific Elevator Market for final year is USD 69.92 (USD Billion).
Asia-Pacific Elevator Market Company Profiling
Frequently Asked Questions
The Asia-Pacific Elevator Market is segmented based on Segmentation Door Type,End Use,Type,Mechanism,Speed,Destination Control,Elevation,Component ,Deck ,Capacity.
Asia-Pacific Elevator Market was valued at USD 36.53(Revenue in USD Billion) in 2024.
Asia-Pacific Elevator Market is projected to grow at a CAGR of 8.56% during the forecast period of 2024 to 2032.
The estimated market value of the Asia-Pacific Elevator Market for final year is USD 69.92 (USD Billion).
CHOOSE LICENCE TYPE
- 4200.00
- 3500.00
- 2000.00
- 5500.00
- 7500.00
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