Global Elevator Market to 2032
Overview
The Global Elevator Market is expected to reach a 147.85 USD Billion by 2032 and is projected to grow at a CAGR of 7.81% from 2025 to 2032.
Revenue, 2024 (USD Billion)
81.69
Forecast, 2032 (USD Billion)
147.85
CAGR, 2024 - 2032
7.81%
Report Coverage
Global
Global Elevator Market 2018-2032 USD Billion
Global Elevator Market, Key Findings (2025-2032)
Market Growth and Projections:
- Market Size (2024): 81.69 USD Billion
- Projected Market Size (2032): 147.85 USD Billion
- CAGR (2025-2032): 7.81%
Key Findings of Global Elevator Market
- The Global Elevator Market was valued at 81.69 USD Billion in 2024.
- The Global Elevator Market is likely to grow at a CAGR of 7.81% 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 59.01 USD Billion
- The fastest growing segment 630kg (or less) in Capacity Segment grew Fastest with a CAGR of 9.16% during the forecast period from 2024 to 2032.
Global Elevator Market Scope
Global Elevator Market Segmentation & Scope
Door Type
- Others
- Swinging Door
- Manual Door
- Sliding Door
- Automatic Door
End Use
- Industrial
- Residential
- Commercial
Capacity
- Over 2500kg
- 2000–2500kg
- 1600–2000kg
- 1050–1600kg
- 630–1050kg
- 630kg (or less)
Deck
- Double Deck
- Single Deck
Component
- Services
- Hardware
Elevation
- High Rise Elevators
- Mid Rise Elevators
- Low Rise 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
Mechanism
- D.C. Elevators
- A.C. Elevators
- Others
- Hydraulic Elevators
- Traction / Cable Driven Elevators
- Machine Room Reduced (MRL) Elevators
Type
- Others
- Home Elevators
- Service Elevator
- Freight/ Cargo Elevator
- Passenger Elevator
Global Elevator Market Data Coverage Insights
| Study Period | 2024-2032 |
| Base Year | 2024 |
| Unit | Revenue in USD Billion |
| Market Value in 2024 | 81.69 USD Billion |
| Market Value in 2032 | 147.85 USD Billion |
| CAGR (2025-2032) | 7.81% |
| Historic Data | 2016-2023 |
| Market Segments Covered | Door Type,End Use,Capacity,Deck ,Component ,Elevation,Speed,Destination Control,Mechanism,Type |
Regional Insights:
-
Leading Market (2024-2032): Global, leading in terms of revenue 81.69 USD Billion in 2024
- Key Country: U.S., leading in terms of revenue with value of 15,542.34 USD Million in 2024.
Segments and Scope
-
Global Elevator Market to 2032, By Door Type
- Automatic Door is the largest segment in Global Elevator Market to 2032 with a revenue of 34.42 USD Billion in the year 2024.
- Automatic Door is the Fastest growing segment in Global Elevator Market to 2032 with a Growth rate of 8.51 % in forecast period 2025-2032.
-
Global Elevator Market to 2032, By End Use
- Commercial is the largest segment in Global Elevator Market to 2032 with a revenue of 41.63 USD Billion in the year 2024.
- Commercial is the Fastest growing segment in Global Elevator Market to 2032 with a Growth rate of 8.01 % in forecast period 2025-2032.
-
Global Elevator Market to 2032, By Capacity
- 630kg (or less) is the largest segment in Global Elevator Market to 2032 with a revenue of 26.06 USD Billion in the year 2024.
- 630kg (or less) is the Fastest growing segment in Global Elevator Market to 2032 with a Growth rate of 9.16 % in forecast period 2025-2032.
-
Global Elevator Market to 2032, By Deck
- Single Deck is the largest segment in Global Elevator Market to 2032 with a revenue of 59.01 USD Billion in the year 2024.
- Single Deck is the Fastest growing segment in Global Elevator Market to 2032 with a Growth rate of 7.88 % in forecast period 2025-2032.
-
Global Elevator Market to 2032, By Component
- Hardware is the largest segment in Global Elevator Market to 2032 with a revenue of 53.75 USD Billion in the year 2024.
- Hardware is the Fastest growing segment in Global Elevator Market to 2032 with a Growth rate of 7.90 % in forecast period 2025-2032.
-
Global Elevator Market to 2032, By Elevation
- Low Rise Elevators is the largest segment in Global Elevator Market to 2032 with a revenue of 40.29 USD Billion in the year 2024.
- Low Rise Elevators is the Fastest growing segment in Global Elevator Market to 2032 with a Growth rate of 8.05 % in forecast period 2025-2032.
-
Global Elevator Market to 2032, By Speed
- 1.0 mps (or less) is the largest segment in Global Elevator Market to 2032 with a revenue of 37.61 USD Billion in the year 2024.
- 1.0 mps (or less) is the Fastest growing segment in Global Elevator Market to 2032 with a Growth rate of 8.23 % in forecast period 2025-2032.
-
Global Elevator Market to 2032, By Destination Control
- Conventional is the largest segment in Global Elevator Market to 2032 with a revenue of 46.20 USD Billion in the year 2024.
- Conventional is the Fastest growing segment in Global Elevator Market to 2032 with a Growth rate of 7.90 % in forecast period 2025-2032.
-
Global Elevator Market to 2032, By Mechanism
- Machine Room Reduced (MRL) Elevators is the largest segment in Global Elevator Market to 2032 with a revenue of 30.33 USD Billion in the year 2024.
- Machine Room Reduced (MRL) Elevators is the Fastest growing segment in Global Elevator Market to 2032 with a Growth rate of 8.62 % in forecast period 2025-2032.
-
Global Elevator Market to 2032, By Type
- Passenger Elevator is the largest segment in Global Elevator Market to 2032 with a revenue of 42.77 USD Billion in the year 2024.
- Freight/ Cargo Elevator is the Fastest growing segment in Global Elevator Market to 2032 with a Growth rate of 7.87 % in forecast period 2025-2032.
Global Elevator Market Company Share Analysis
| Company Name |
|
||
| Hitachi, Ltd. | |||
| TOSHIBA CORPORATION | |||
| TK Elevator | |||
| Schindler | |||
| Otis Worldwide Corporation | |||
Global Elevator Market Geographical Sales Distribution, 2018-2032 USD Billion
Global Elevator Market Company Profiling
Industry Related Reports
Frequently Asked Questions
The Global Elevator Market is segmented based on Segmentation Door Type,End Use,Capacity,Deck ,Component ,Elevation,Speed,Destination Control,Mechanism,Type.
Global Elevator Market was valued at USD 81.69(Revenue in USD Billion) in 2024.
Global Elevator Market is projected to grow at a CAGR of 7.81% during the forecast period of 2024 to 2032.
The Single Deck segment is expected to dominate the Global Elevator Market, holding a largest market share of 59.01 USD Billion in 2024
Global Elevator Market Scope
Global Elevator Market Segmentation & Scope
Door Type
- Others
- Swinging Door
- Manual Door
- Sliding Door
- Automatic Door
End Use
- Industrial
- Residential
- Commercial
Capacity
- Over 2500kg
- 2000–2500kg
- 1600–2000kg
- 1050–1600kg
- 630–1050kg
- 630kg (or less)
Deck
- Double Deck
- Single Deck
Component
- Services
- Hardware
Elevation
- High Rise Elevators
- Mid Rise Elevators
- Low Rise 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
Mechanism
- D.C. Elevators
- A.C. Elevators
- Others
- Hydraulic Elevators
- Traction / Cable Driven Elevators
- Machine Room Reduced (MRL) Elevators
Type
- Others
- Home Elevators
- Service Elevator
- Freight/ Cargo Elevator
- Passenger Elevator
Frequently Asked Questions
The Global Elevator Market is segmented based on Segmentation Door Type,End Use,Capacity,Deck ,Component ,Elevation,Speed,Destination Control,Mechanism,Type.
Global Elevator Market was valued at USD 81.69(Revenue in USD Billion) in 2024.
Global Elevator Market is projected to grow at a CAGR of 7.81% during the forecast period of 2024 to 2032.
The estimated market value of the Global Elevator Market for final year is USD 147.85 (USD Billion).
Global Elevator Market Company Profiling
Frequently Asked Questions
The Global Elevator Market is segmented based on Segmentation Door Type,End Use,Capacity,Deck ,Component ,Elevation,Speed,Destination Control,Mechanism,Type.
Global Elevator Market was valued at USD 81.69(Revenue in USD Billion) in 2024.
Global Elevator Market is projected to grow at a CAGR of 7.81% during the forecast period of 2024 to 2032.
The estimated market value of the Global Elevator Market for final year is USD 147.85 (USD Billion).
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