North America Elevator Market to 2032
Overview
The North America Elevator Market is expected to reach a 33.14 USD Billion by 2032 and is projected to grow at a CAGR of 7.49% from 2025 to 2032.
Revenue, 2024 (USD Billion)
18.76
Forecast, 2032 (USD Billion)
33.14
CAGR, 2024 - 2032
7.49%
Report Coverage
North America
North America Elevator Market 2018-2032 USD Billion
North America Elevator Market, Key Findings (2025-2032)
Market Growth and Projections:
- Market Size (2024): 18.76 USD Billion
- Projected Market Size (2032): 33.14 USD Billion
- CAGR (2025-2032): 7.49%
Key Findings of North America Elevator Market
- The North America Elevator Market was valued at 18.76 USD Billion in 2024.
- The North America Elevator Market is likely to grow at a CAGR of 7.49% 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 13.45 USD Billion
- The fastest growing segment 630kg (or less) in Capacity Segment grew Fastest with a CAGR of 8.92% during the forecast period from 2024 to 2032.
North America Elevator Market Scope
North America Elevator Market Segmentation & Scope
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)
End Use
- Industrial
- Residential
- Commercial
Destination Control
- Smart
- Conventional
Door Type
- Others
- Swinging Door
- Manual Door
- Sliding Door
- Automatic Door
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)
North America Elevator Market Data Coverage Insights
| Study Period | 2024-2032 |
| Base Year | 2024 |
| Unit | Revenue in USD Billion |
| Market Value in 2024 | 18.76 USD Billion |
| Market Value in 2032 | 33.14 USD Billion |
| CAGR (2025-2032) | 7.49% |
| Historic Data | 2016-2023 |
| Market Segments Covered | Type,Mechanism,Speed,End Use,Destination Control,Door Type,Elevation,Component ,Deck ,Capacity |
Regional Insights:
-
Leading Market (2024-2032): North America, leading in terms of revenue 18.76 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
-
North America Elevator Market to 2032, By Type
- Passenger Elevator is the largest segment in North America Elevator Market to 2032 with a revenue of 9.65 USD Billion in the year 2024.
- Freight/ Cargo Elevator is the Fastest growing segment in North America Elevator Market to 2032 with a Growth rate of 7.55 % in forecast period 2025-2032.
-
North America Elevator Market to 2032, By Mechanism
- Machine Room Reduced (MRL) Elevators is the largest segment in North America Elevator Market to 2032 with a revenue of 6.74 USD Billion in the year 2024.
- Machine Room Reduced (MRL) Elevators is the Fastest growing segment in North America Elevator Market to 2032 with a Growth rate of 8.35 % in forecast period 2025-2032.
-
North America Elevator Market to 2032, By Speed
- 1.0 mps (or less) is the largest segment in North America Elevator Market to 2032 with a revenue of 8.44 USD Billion in the year 2024.
- 1.0 mps (or less) is the Fastest growing segment in North America Elevator Market to 2032 with a Growth rate of 7.93 % in forecast period 2025-2032.
-
North America Elevator Market to 2032, By End Use
- Commercial is the largest segment in North America Elevator Market to 2032 with a revenue of 9.38 USD Billion in the year 2024.
- Commercial is the Fastest growing segment in North America Elevator Market to 2032 with a Growth rate of 7.71 % in forecast period 2025-2032.
-
North America Elevator Market to 2032, By Destination Control
- Conventional is the largest segment in North America Elevator Market to 2032 with a revenue of 10.45 USD Billion in the year 2024.
- Conventional is the Fastest growing segment in North America Elevator Market to 2032 with a Growth rate of 7.59 % in forecast period 2025-2032.
-
North America Elevator Market to 2032, By Door Type
- Automatic Door is the largest segment in North America Elevator Market to 2032 with a revenue of 7.69 USD Billion in the year 2024.
- Automatic Door is the Fastest growing segment in North America Elevator Market to 2032 with a Growth rate of 8.23 % in forecast period 2025-2032.
-
North America Elevator Market to 2032, By Elevation
- Low Rise Elevators is the largest segment in North America Elevator Market to 2032 with a revenue of 9.07 USD Billion in the year 2024.
- Low Rise Elevators is the Fastest growing segment in North America Elevator Market to 2032 with a Growth rate of 7.75 % in forecast period 2025-2032.
-
North America Elevator Market to 2032, By Component
- Hardware is the largest segment in North America Elevator Market to 2032 with a revenue of 12.22 USD Billion in the year 2024.
- Hardware is the Fastest growing segment in North America Elevator Market to 2032 with a Growth rate of 7.56 % in forecast period 2025-2032.
-
North America Elevator Market to 2032, By Deck
- Single Deck is the largest segment in North America Elevator Market to 2032 with a revenue of 13.45 USD Billion in the year 2024.
- Single Deck is the Fastest growing segment in North America Elevator Market to 2032 with a Growth rate of 7.61 % in forecast period 2025-2032.
-
North America Elevator Market to 2032, By Capacity
- 630kg (or less) is the largest segment in North America Elevator Market to 2032 with a revenue of 5.74 USD Billion in the year 2024.
- 630kg (or less) is the Fastest growing segment in North America Elevator Market to 2032 with a Growth rate of 8.92 % in forecast period 2025-2032.
North America Elevator Market Company Share Analysis
| Company Name |
|
||
| Hitachi, Ltd. | |||
| TOSHIBA CORPORATION | |||
| TK Elevator | |||
| Schindler | |||
| Otis Worldwide Corporation | |||
North America Elevator Market Geographical Sales Distribution, 2018-2032 USD Billion
North America Elevator Market Company Profiling
Industry Related Reports
Frequently Asked Questions
The North America Elevator Market is segmented based on Segmentation Type,Mechanism,Speed,End Use,Destination Control,Door Type,Elevation,Component ,Deck ,Capacity.
North America Elevator Market was valued at USD 18.76(Revenue in USD Billion) in 2024.
North America Elevator Market is projected to grow at a CAGR of 7.49% during the forecast period of 2024 to 2032.
The Single Deck segment is expected to dominate the North America Elevator Market, holding a largest market share of 13.45 USD Billion in 2024
North America Elevator Market Scope
North America Elevator Market Segmentation & Scope
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)
End Use
- Industrial
- Residential
- Commercial
Destination Control
- Smart
- Conventional
Door Type
- Others
- Swinging Door
- Manual Door
- Sliding Door
- Automatic Door
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 North America Elevator Market is segmented based on Segmentation Type,Mechanism,Speed,End Use,Destination Control,Door Type,Elevation,Component ,Deck ,Capacity.
North America Elevator Market was valued at USD 18.76(Revenue in USD Billion) in 2024.
North America Elevator Market is projected to grow at a CAGR of 7.49% during the forecast period of 2024 to 2032.
The estimated market value of the North America Elevator Market for final year is USD 33.14 (USD Billion).
North America Elevator Market Company Profiling
Frequently Asked Questions
The North America Elevator Market is segmented based on Segmentation Type,Mechanism,Speed,End Use,Destination Control,Door Type,Elevation,Component ,Deck ,Capacity.
North America Elevator Market was valued at USD 18.76(Revenue in USD Billion) in 2024.
North America Elevator Market is projected to grow at a CAGR of 7.49% during the forecast period of 2024 to 2032.
The estimated market value of the North America Elevator Market for final year is USD 33.14 (USD Billion).
CHOOSE LICENCE TYPE
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