Global Elevators Market Size & Outlook, 2024-2030

The elevators industry worldwide is expected to reach a projected revenue of US$ 116,139.1 million by 2030. A compound annual growth rate of 6.7% is expected of the worldwide elevators industry from 2025 to 2030.
Revenue, 2024 (US$M)
$79,055.3
Forecast, 2030 (US$M)
$116,139.1
CAGR, 2025 - 2030
6.7%
Report Coverage
Worldwide

Global elevators market highlights

  • The global elevators market generated a revenue of USD 79,055.3 million in 2024 and is expected to reach USD 116,139.1 million by 2030.
  • The market is expected to grow at a CAGR (2025 - 2030) of 6.7% by 2030.
  • In terms of segment, traction accounted for a revenue of USD 46,382.4 million in 2024.
  • Machine Room-Less Traction is the most lucrative type segment registering the fastest growth during the forecast period.
  • In terms of region, Asia Pacific was the largest revenue generating market in 2024.
  • Country-wise, India is expected to register the highest CAGR from 2025 to 2030.

Global data book summary

Market revenue in 2024USD 79,055.3 million
Market revenue in 2030USD 116,139.1 million
Growth rate6.7% (CAGR from 2025 to 2030)
Largest segmentTraction
Fastest growing segmentMachine Room-Less Traction
Historical data covered2018 - 2023
Base year for estimation2024
Forecast period covered2025 - 2030
Quantitative unitsRevenue in USD million
Market segmentationHydraulic, Traction, Machine Room-Less Traction

Other key industry trends

  • In terms of revenue, the North America accounted for 12.7% of the global elevators market in 2024.
  • By country, the China is projected to lead the global market in terms of revenue in 2030.
  • By country, India is the fastest growing regional market and is projected to reach USD 2,868.3 million by 2030.

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Elevators Market Companies

Name Profile # Employees HQ Website

Global elevators market size, by regions, 2018-2030 (US$M)

Top 10 countries: Elevators market size, 2024 (US$M)

Global elevators market share, by type, 2024 & 2030 (%, US$M)

Elevators market: Opportunity assessment by country

Global elevators market, by region, 2024 (US$M)

Global elevators market size, by regions, 2018-2030 (US$M)

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