Norway Elevator Market to 2032
Overview
The Norway Elevator Market is expected to reach a 538.46 USD Million by 2032 and is projected to grow at a CAGR of 5.87% from 2025 to 2032.
Revenue, 2024 (USD Million)
344.10
Forecast, 2032 (USD Million)
538.46
CAGR, 2024 - 2032
5.87%
Report Coverage
Norway
Norway Elevator Market 2018-2032 USD Million
Norway Elevator Market, Key Findings (2025-2032)
Market Growth and Projections:
- Market Size (2024): 344.10 USD Million
- Projected Market Size (2032): 538.46 USD Million
- CAGR (2025-2032): 5.87%
Key Findings of Norway Elevator Market
- The Norway Elevator Market was valued at 344.10 USD Million in 2024.
- The Norway Elevator Market is likely to grow at a CAGR of 5.87% 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 254.44 USD Million
- The fastest growing segment 630kg (or less) in Capacity Segment grew Fastest with a CAGR of 6.94% during the forecast period from 2024 to 2032.
Norway Elevator Market Scope
Norway Elevator Market Segmentation & Scope
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)
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
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
Destination Control
- Smart
- Conventional
Door Type
- Others
- Swinging Door
- Manual Door
- Sliding Door
- Automatic Door
End Use
- Industrial
- Residential
- Commercial
Norway Elevator Market Data Coverage Insights
| Study Period | 2024-2032 |
| Base Year | 2024 |
| Unit | Revenue in USD Million |
| Market Value in 2024 | 344.10 USD Million |
| Market Value in 2032 | 538.46 USD Million |
| CAGR (2025-2032) | 5.87% |
| Historic Data | 2016-2023 |
| Market Segments Covered | Speed,Component ,Deck ,Capacity,Elevation,Type,Mechanism,Destination Control,Door Type,End Use |
Regional Insights:
-
Leading Market (2024-2032): Norway, leading in terms of revenue 344.10 USD Million in 2024
- Key Country: Norway, leading in terms of revenue with value of 344.10 USD Million in 2024.
Segments and Scope
-
Norway Elevator Market to 2032, By Speed
- 1.0 mps (or less) is the largest segment in Norway Elevator Market to 2032 with a revenue of 169.85 USD Million in the year 2024.
- 1.0 mps (or less) is the Fastest growing segment in Norway Elevator Market to 2032 with a Growth rate of 6.22 % in forecast period 2025-2032.
-
Norway Elevator Market to 2032, By Component
- Hardware is the largest segment in Norway Elevator Market to 2032 with a revenue of 233.68 USD Million in the year 2024.
- Hardware is the Fastest growing segment in Norway Elevator Market to 2032 with a Growth rate of 6.30 % in forecast period 2025-2032.
-
Norway Elevator Market to 2032, By Deck
- Single Deck is the largest segment in Norway Elevator Market to 2032 with a revenue of 254.44 USD Million in the year 2024.
- Single Deck is the Fastest growing segment in Norway Elevator Market to 2032 with a Growth rate of 6.26 % in forecast period 2025-2032.
-
Norway Elevator Market to 2032, By Capacity
- 630kg (or less) is the largest segment in Norway Elevator Market to 2032 with a revenue of 124.19 USD Million in the year 2024.
- 630kg (or less) is the Fastest growing segment in Norway Elevator Market to 2032 with a Growth rate of 6.94 % in forecast period 2025-2032.
-
Norway Elevator Market to 2032, By Elevation
- Low Rise Elevators is the largest segment in Norway Elevator Market to 2032 with a revenue of 180.45 USD Million in the year 2024.
- Low Rise Elevators is the Fastest growing segment in Norway Elevator Market to 2032 with a Growth rate of 6.08 % in forecast period 2025-2032.
-
Norway Elevator Market to 2032, By Type
- Passenger Elevator is the largest segment in Norway Elevator Market to 2032 with a revenue of 190.26 USD Million in the year 2024.
- Freight/ Cargo Elevator is the Fastest growing segment in Norway Elevator Market to 2032 with a Growth rate of 6.00 % in forecast period 2025-2032.
-
Norway Elevator Market to 2032, By Mechanism
- Machine Room Reduced (MRL) Elevators is the largest segment in Norway Elevator Market to 2032 with a revenue of 141.06 USD Million in the year 2024.
- Machine Room Reduced (MRL) Elevators is the Fastest growing segment in Norway Elevator Market to 2032 with a Growth rate of 6.53 % in forecast period 2025-2032.
-
Norway Elevator Market to 2032, By Destination Control
- Conventional is the largest segment in Norway Elevator Market to 2032 with a revenue of 203.82 USD Million in the year 2024.
- Conventional is the Fastest growing segment in Norway Elevator Market to 2032 with a Growth rate of 5.95 % in forecast period 2025-2032.
-
Norway Elevator Market to 2032, By Door Type
- Automatic Door is the largest segment in Norway Elevator Market to 2032 with a revenue of 157.23 USD Million in the year 2024.
- Automatic Door is the Fastest growing segment in Norway Elevator Market to 2032 with a Growth rate of 6.45 % in forecast period 2025-2032.
-
Norway Elevator Market to 2032, By End Use
- Commercial is the largest segment in Norway Elevator Market to 2032 with a revenue of 185.74 USD Million in the year 2024.
- Commercial is the Fastest growing segment in Norway Elevator Market to 2032 with a Growth rate of 6.05 % in forecast period 2025-2032.
Norway Elevator Market Company Share Analysis
| Company Name |
|
||
| Hitachi, Ltd. | |||
| TOSHIBA CORPORATION | |||
| TK Elevator | |||
| Schindler | |||
| Otis Worldwide Corporation | |||
Norway Elevator Market Geographical Sales Distribution, 2018-2032 USD Million
Norway Elevator Market Company Profiling
Industry Related Reports
Frequently Asked Questions
The Norway Elevator Market is segmented based on Segmentation Speed,Component ,Deck ,Capacity,Elevation,Type,Mechanism,Destination Control,Door Type,End Use.
Norway Elevator Market was valued at USD 344.10(Revenue in USD Million) in 2024.
Norway Elevator Market is projected to grow at a CAGR of 5.87% during the forecast period of 2024 to 2032.
The Single Deck segment is expected to dominate the Norway Elevator Market, holding a largest market share of 254.44 USD Million in 2024
Norway Elevator Market Scope
Norway Elevator Market Segmentation & Scope
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)
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
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
Destination Control
- Smart
- Conventional
Door Type
- Others
- Swinging Door
- Manual Door
- Sliding Door
- Automatic Door
End Use
- Industrial
- Residential
- Commercial
Frequently Asked Questions
The Norway Elevator Market is segmented based on Segmentation Speed,Component ,Deck ,Capacity,Elevation,Type,Mechanism,Destination Control,Door Type,End Use.
Norway Elevator Market was valued at USD 344.10(Revenue in USD Million) in 2024.
Norway Elevator Market is projected to grow at a CAGR of 5.87% during the forecast period of 2024 to 2032.
The estimated market value of the Norway Elevator Market for final year is USD 538.46 (USD Million).
Norway Elevator Market Company Profiling
Frequently Asked Questions
The Norway Elevator Market is segmented based on Segmentation Speed,Component ,Deck ,Capacity,Elevation,Type,Mechanism,Destination Control,Door Type,End Use.
Norway Elevator Market was valued at USD 344.10(Revenue in USD Million) in 2024.
Norway Elevator Market is projected to grow at a CAGR of 5.87% during the forecast period of 2024 to 2032.
The estimated market value of the Norway Elevator Market for final year is USD 538.46 (USD Million).
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