Malaysia Elevator Market to 2032
Overview
The Malaysia Elevator Market is expected to reach a 1,493.72 USD Million by 2032 and is projected to grow at a CAGR of 7.68% from 2025 to 2032.
Revenue, 2024 (USD Million)
832.88
Forecast, 2032 (USD Million)
1,493.72
CAGR, 2024 - 2032
7.68%
Report Coverage
Malaysia
Malaysia Elevator Market 2018-2032 USD Million
Malaysia Elevator Market, Key Findings (2025-2032)
Market Growth and Projections:
- Market Size (2024): 832.88 USD Million
- Projected Market Size (2032): 1,493.72 USD Million
- CAGR (2025-2032): 7.68%
Key Findings of Malaysia Elevator Market
- The Malaysia Elevator Market was valued at 832.88 USD Million in 2024.
- The Malaysia Elevator Market is likely to grow at a CAGR of 7.68% 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 600.45 USD Million
- The fastest growing segment 630kg (or less) in Capacity Segment grew Fastest with a CAGR of 9.09% during the forecast period from 2024 to 2032.
Malaysia Elevator Market Scope
Malaysia Elevator Market Segmentation & Scope
Component
- Services
- Hardware
Deck
- Double Deck
- Single Deck
Capacity
- Over 2500kg
- 2000–2500kg
- 1600–2000kg
- 1050–1600kg
- 630–1050kg
- 630kg (or less)
Elevation
- High Rise Elevators
- Mid Rise Elevators
- Low Rise Elevators
Destination Control
- Smart
- Conventional
Door Type
- Others
- Swinging Door
- Manual Door
- Sliding Door
- Automatic Door
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)
Type
- Others
- Home Elevators
- Service Elevator
- Freight/ Cargo Elevator
- Passenger Elevator
End Use
- Industrial
- Residential
- Commercial
Malaysia Elevator Market Data Coverage Insights
| Study Period | 2024-2032 |
| Base Year | 2024 |
| Unit | Revenue in USD Million |
| Market Value in 2024 | 832.88 USD Million |
| Market Value in 2032 | 1,493.72 USD Million |
| CAGR (2025-2032) | 7.68% |
| Historic Data | 2016-2023 |
| Market Segments Covered | Component ,Deck ,Capacity,Elevation,Destination Control,Door Type,Mechanism,Speed,Type,End Use |
Regional Insights:
-
Leading Market (2024-2032): Malaysia, leading in terms of revenue 832.88 USD Million in 2024
- Key Country: Malaysia, leading in terms of revenue with value of 832.88 USD Million in 2024.
Segments and Scope
-
Malaysia Elevator Market to 2032, By Component
- Hardware is the largest segment in Malaysia Elevator Market to 2032 with a revenue of 546.62 USD Million in the year 2024.
- Hardware is the Fastest growing segment in Malaysia Elevator Market to 2032 with a Growth rate of 7.75 % in forecast period 2025-2032.
-
Malaysia Elevator Market to 2032, By Deck
- Single Deck is the largest segment in Malaysia Elevator Market to 2032 with a revenue of 600.45 USD Million in the year 2024.
- Single Deck is the Fastest growing segment in Malaysia Elevator Market to 2032 with a Growth rate of 7.73 % in forecast period 2025-2032.
-
Malaysia Elevator Market to 2032, By Capacity
- 630kg (or less) is the largest segment in Malaysia Elevator Market to 2032 with a revenue of 262.79 USD Million in the year 2024.
- 630kg (or less) is the Fastest growing segment in Malaysia Elevator Market to 2032 with a Growth rate of 9.09 % in forecast period 2025-2032.
-
Malaysia Elevator Market to 2032, By Elevation
- Low Rise Elevators is the largest segment in Malaysia Elevator Market to 2032 with a revenue of 408.63 USD Million in the year 2024.
- Low Rise Elevators is the Fastest growing segment in Malaysia Elevator Market to 2032 with a Growth rate of 7.94 % in forecast period 2025-2032.
-
Malaysia Elevator Market to 2032, By Destination Control
- Conventional is the largest segment in Malaysia Elevator Market to 2032 with a revenue of 469.22 USD Million in the year 2024.
- Conventional is the Fastest growing segment in Malaysia Elevator Market to 2032 with a Growth rate of 7.79 % in forecast period 2025-2032.
-
Malaysia Elevator Market to 2032, By Door Type
- Automatic Door is the largest segment in Malaysia Elevator Market to 2032 with a revenue of 348.43 USD Million in the year 2024.
- Automatic Door is the Fastest growing segment in Malaysia Elevator Market to 2032 with a Growth rate of 8.42 % in forecast period 2025-2032.
-
Malaysia Elevator Market to 2032, By Mechanism
- Machine Room Reduced (MRL) Elevators is the largest segment in Malaysia Elevator Market to 2032 with a revenue of 306.52 USD Million in the year 2024.
- Machine Room Reduced (MRL) Elevators is the Fastest growing segment in Malaysia Elevator Market to 2032 with a Growth rate of 8.54 % in forecast period 2025-2032.
-
Malaysia Elevator Market to 2032, By Speed
- 1.0 mps (or less) is the largest segment in Malaysia Elevator Market to 2032 with a revenue of 381.14 USD Million in the year 2024.
- 1.0 mps (or less) is the Fastest growing segment in Malaysia Elevator Market to 2032 with a Growth rate of 8.13 % in forecast period 2025-2032.
-
Malaysia Elevator Market to 2032, By Type
- Passenger Elevator is the largest segment in Malaysia Elevator Market to 2032 with a revenue of 434.06 USD Million in the year 2024.
- Freight/ Cargo Elevator is the Fastest growing segment in Malaysia Elevator Market to 2032 with a Growth rate of 7.75 % in forecast period 2025-2032.
-
Malaysia Elevator Market to 2032, By End Use
- Commercial is the largest segment in Malaysia Elevator Market to 2032 with a revenue of 422.33 USD Million in the year 2024.
- Commercial is the Fastest growing segment in Malaysia Elevator Market to 2032 with a Growth rate of 7.90 % in forecast period 2025-2032.
Malaysia Elevator Market Company Share Analysis
| Company Name |
|
||
| Hitachi, Ltd. | |||
| TOSHIBA CORPORATION | |||
| TK Elevator | |||
| Schindler | |||
| Otis Worldwide Corporation | |||
Malaysia Elevator Market Geographical Sales Distribution, 2018-2032 USD Million
Malaysia Elevator Market Company Profiling
Industry Related Reports
Frequently Asked Questions
The Malaysia Elevator Market is segmented based on Segmentation Component ,Deck ,Capacity,Elevation,Destination Control,Door Type,Mechanism,Speed,Type,End Use.
Malaysia Elevator Market was valued at USD 832.88(Revenue in USD Million) in 2024.
Malaysia Elevator Market is projected to grow at a CAGR of 7.68% during the forecast period of 2024 to 2032.
The Single Deck segment is expected to dominate the Malaysia Elevator Market, holding a largest market share of 600.45 USD Million in 2024
Malaysia Elevator Market Scope
Malaysia Elevator Market Segmentation & Scope
Component
- Services
- Hardware
Deck
- Double Deck
- Single Deck
Capacity
- Over 2500kg
- 2000–2500kg
- 1600–2000kg
- 1050–1600kg
- 630–1050kg
- 630kg (or less)
Elevation
- High Rise Elevators
- Mid Rise Elevators
- Low Rise Elevators
Destination Control
- Smart
- Conventional
Door Type
- Others
- Swinging Door
- Manual Door
- Sliding Door
- Automatic Door
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)
Type
- Others
- Home Elevators
- Service Elevator
- Freight/ Cargo Elevator
- Passenger Elevator
End Use
- Industrial
- Residential
- Commercial
Frequently Asked Questions
The Malaysia Elevator Market is segmented based on Segmentation Component ,Deck ,Capacity,Elevation,Destination Control,Door Type,Mechanism,Speed,Type,End Use.
Malaysia Elevator Market was valued at USD 832.88(Revenue in USD Million) in 2024.
Malaysia Elevator Market is projected to grow at a CAGR of 7.68% during the forecast period of 2024 to 2032.
The estimated market value of the Malaysia Elevator Market for final year is USD 1,493.72 (USD Million).
Malaysia Elevator Market Company Profiling
Frequently Asked Questions
The Malaysia Elevator Market is segmented based on Segmentation Component ,Deck ,Capacity,Elevation,Destination Control,Door Type,Mechanism,Speed,Type,End Use.
Malaysia Elevator Market was valued at USD 832.88(Revenue in USD Million) in 2024.
Malaysia Elevator Market is projected to grow at a CAGR of 7.68% during the forecast period of 2024 to 2032.
The estimated market value of the Malaysia Elevator Market for final year is USD 1,493.72 (USD Million).
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