Global Elevator Maintenance & Repair, New Installation & Modernization Industry Growth and Trends Forecast to 2031

Summary

An elevator is an extremely complex system with hundreds of parts that must be maintained. One function of maintenance is ensuring continued operation by preventing excessive wear and breakdown.

According to APO Research, The global Elevator Maintenance & Repair, New Installation & Modernization market was estimated at US$ million in 2025 and is projected to reach a revised size of US$ million by 2031, witnessing a CAGR of xx% during the forecast period 2026-2031.

North American market for Elevator Maintenance & Repair, New Installation & Modernization is estimated to increase from $ million in 2025 to reach $ million by 2031, at a CAGR of % during the forecast period of 2026 through 2031.

Asia-Pacific market for Elevator Maintenance & Repair, New Installation & Modernization is estimated to increase from $ million in 2025 to reach $ million by 2031, at a CAGR of % during the forecast period of 2026 through 2031.

Europe market for Elevator Maintenance & Repair, New Installation & Modernization is estimated to increase from $ million in 2025 to reach $ million by 2031, at a CAGR of % during the forecast period of 2026 through 2031.

The major global companies of Elevator Maintenance & Repair, New Installation & Modernization include Otis, KONE, Hitachi, Fujitec, Bagby Elevator Company, Syney Electric, Schindler Elevator Corporation, D&D Elevator and EMR Elevator, etc. In 2024, the world's top three vendors accounted for approximately % of the revenue.

Report Scope

This report aims to provide a comprehensive presentation of the global market for Elevator Maintenance & Repair, New Installation & Modernization, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Elevator Maintenance & Repair, New Installation & Modernization.

The Elevator Maintenance & Repair, New Installation & Modernization market size, estimations, and forecasts are provided in terms of revenue ($ millions), considering 2024 as the base year, with history and forecast data for the period from 2020 to 2031. This report segments the global Elevator Maintenance & Repair, New Installation & Modernization market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided. For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.

Key Companies & Market Share Insights

In this section, the readers will gain an understanding of the key players competing. This report has studied the key growth strategies, such as innovative trends and developments, intensification of product portfolio, mergers and acquisitions, collaborations, new product innovation, and geographical expansion, undertaken by these participants to maintain their presence. Apart from business strategies, the study includes current developments and key financials. The readers will also get access to the data related to global revenue, gross margin by manufacturers for the period 2020-2025. This all-inclusive report will certainly serve the clients to stay updated and make effective decisions in their businesses.

Elevator Maintenance & Repair, New Installation & Modernization Segment by Company

Otis
KONE
Hitachi
Fujitec
Bagby Elevator Company
Syney Electric
Schindler Elevator Corporation
D&D Elevator
EMR Elevator
Orona
Eastern Elevators Group
Mid-American Elevator
HISA
Century Elevator (BrandSafway)
Asheville Elevator
Brandywine Elevator Company
Veterans Development
Warren Elevator
Pickerings Lifts
Potomac Elevator Company

Elevator Maintenance & Repair, New Installation & Modernization Segment by Type

Maintenance & Repair
New Installation
Modernization
Others

Elevator Maintenance & Repair, New Installation & Modernization Segment by Application

Commercial
Residential
Others

Elevator Maintenance & Repair, New Installation & Modernization Segment by Region

North America
United States
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Spain
Netherlands
Switzerland
Sweden
Poland
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Southeast Asia
South America
Brazil
Argentina
Chile
Middle East & Africa
Egypt
South Africa
Israel
Türkiye
GCC Countries

Key Drivers & Barriers

High-impact rendering factors and drivers have been studied in this report to aid the readers to understand the general development. Moreover, the report includes restraints and challenges that may act as stumbling blocks on the way of the players. This will assist the users to be attentive and make informed decisions related to business. Specialists have also laid their focus on the upcoming business prospects.

Reasons to Buy This Report

1. This report will help the readers to understand the competition within the industries and strategies for the competitive environment to enhance the potential profit. The report also focuses on the competitive landscape of the global Elevator Maintenance & Repair, New Installation & Modernization market, and introduces in detail the market share, industry ranking, competitor ecosystem, market performance, new product development, operation situation, expansion, and acquisition. etc. of the main players, which helps the readers to identify the main competitors and deeply understand the competition pattern of the market.
2. This report will help stakeholders to understand the global industry status and trends of Elevator Maintenance & Repair, New Installation & Modernization and provides them with information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to understand competitors better and gain more insights to strengthen their position in their businesses. The competitive landscape section includes the market share and rank (in value), competitor ecosystem, new product development, expansion, and acquisition.
4. This report stays updated with novel technology integration, features, and the latest developments in the market
5. This report helps stakeholders to gain insights into which regions to target globally
6. This report helps stakeholders to gain insights into the end-user perception concerning the adoption of Elevator Maintenance & Repair, New Installation & Modernization.
7. This report helps stakeholders to identify some of the key players in the market and understand their valuable contribution.

Chapter Outline

Chapter 1: Introduces the report scope of the report, executive summary of global and regional market size and CAGR for the history and forecast period (2020-2025, 2026-2031). It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 2: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 3: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 4: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 5: Detailed analysis of Elevator Maintenance & Repair, New Installation & Modernization companies' competitive landscape, revenue, market share and ranking, latest development plan, merger, and acquisition information, etc.
Chapter 6: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product introduction, revenue, recent development, etc.
Chapter 7, 8, 9, 10 and 11: North America, Europe, Asia Pacific, South America, Middle East & Africa, revenue by country.
Chapter 12: Concluding Insights of the report

Please Note: Single-User license will be delivered via PDF from the publisher without the rights to print or to edit.


1 Market Overview

1.1 Product Definition
1.2 Global Market Growth Prospects
1.3 Global Elevator Maintenance & Repair, New Installation & Modernization Market Size Overview by Region 2020 VS 2024 VS 2031
1.4 Global Elevator Maintenance & Repair, New Installation & Modernization Market Size by Region (2020-2031)
1.4.1 Global Elevator Maintenance & Repair, New Installation & Modernization Market Size by Region (2020-2025)
1.4.2 Global Elevator Maintenance & Repair, New Installation & Modernization Market Size by Region (2026-2031)
1.5 Key Regions Elevator Maintenance & Repair, New Installation & Modernization Market Size (2020-2031)
1.5.1 North America Elevator Maintenance & Repair, New Installation & Modernization Market Size Growth Rate (2020-2031)
1.5.2 Europe Elevator Maintenance & Repair, New Installation & Modernization Market Size Growth Rate (2020-2031)
1.5.3 Asia-Pacific Elevator Maintenance & Repair, New Installation & Modernization Market Size Growth Rate (2020-2031)
1.5.4 South America Elevator Maintenance & Repair, New Installation & Modernization Market Size Growth Rate (2020-2031)
1.5.5 Middle East & Africa Elevator Maintenance & Repair, New Installation & Modernization Market Size Growth Rate (2020-2031)
2 Elevator Maintenance & Repair, New Installation & Modernization Market by Type

2.1 Type Introduction
2.1.1 Maintenance & Repair
2.1.2 New Installation
2.1.3 Modernization
2.1.4 Others
2.2 Global Elevator Maintenance & Repair, New Installation & Modernization Market Size by Type
2.2.1 Global Elevator Maintenance & Repair, New Installation & Modernization Market Size Overview by Type (2020-2031)
2.2.2 Global Elevator Maintenance & Repair, New Installation & Modernization Historic Market Size Review by Type (2020-2025)
2.2.3 Global Elevator Maintenance & Repair, New Installation & Modernization Market Size Forecasted by Type (2026-2031)
2.3 Global Elevator Maintenance & Repair, New Installation & Modernization Market Size by Regions
2.3.1 North America Elevator Maintenance & Repair, New Installation & Modernization Market Size Breakdown by Type (2020-2025)
2.3.2 Europe Elevator Maintenance & Repair, New Installation & Modernization Market Size Breakdown by Type (2020-2025)
2.3.3 Asia-Pacific Elevator Maintenance & Repair, New Installation & Modernization Market Size Breakdown by Type (2020-2025)
2.3.4 South America Elevator Maintenance & Repair, New Installation & Modernization Market Size Breakdown by Type (2020-2025)
2.3.5 Middle East and Africa Elevator Maintenance & Repair, New Installation & Modernization Market Size Breakdown by Type (2020-2025)
3 Elevator Maintenance & Repair, New Installation & Modernization Market by Application

3.1 Type Introduction
3.1.1 Commercial
3.1.2 Residential
3.1.3 Others
3.2 Global Elevator Maintenance & Repair, New Installation & Modernization Market Size by Application
3.2.1 Global Elevator Maintenance & Repair, New Installation & Modernization Market Size Overview by Application (2020-2031)
3.2.2 Global Elevator Maintenance & Repair, New Installation & Modernization Historic Market Size Review by Application (2020-2025)
3.2.3 Global Elevator Maintenance & Repair, New Installation & Modernization Market Size Forecasted by Application (2026-2031)
3.3 Global Elevator Maintenance & Repair, New Installation & Modernization Market Size by Regions
3.3.1 North America Elevator Maintenance & Repair, New Installation & Modernization Market Size Breakdown by Application (2020-2025)
3.3.2 Europe Elevator Maintenance & Repair, New Installation & Modernization Market Size Breakdown by Application (2020-2025)
3.3.3 Asia-Pacific Elevator Maintenance & Repair, New Installation & Modernization Market Size Breakdown by Application (2020-2025)
3.3.4 South America Elevator Maintenance & Repair, New Installation & Modernization Market Size Breakdown by Application (2020-2025)
3.3.5 Middle East and Africa Elevator Maintenance & Repair, New Installation & Modernization Market Size Breakdown by Application (2020-2025)
4 Global Market Dynamics

4.1 Elevator Maintenance & Repair, New Installation & Modernization Industry Trends
4.2 Elevator Maintenance & Repair, New Installation & Modernization Industry Drivers
4.3 Elevator Maintenance & Repair, New Installation & Modernization Industry Opportunities and Challenges
4.4 Elevator Maintenance & Repair, New Installation & Modernization Industry Restraints
5 Competitive Insights by Company

5.1 Global Top Players by Elevator Maintenance & Repair, New Installation & Modernization Revenue (2020-2025)
5.2 Global Elevator Maintenance & Repair, New Installation & Modernization Industry Company Ranking, 2023 VS 2024 VS 2025
5.3 Global Elevator Maintenance & Repair, New Installation & Modernization Key Company Headquarters & Area Served
5.4 Global Elevator Maintenance & Repair, New Installation & Modernization Company, Product Type & Application
5.5 Global Elevator Maintenance & Repair, New Installation & Modernization Company Commercialization Time
5.6 Market Competitive Analysis
5.6.1 Global Elevator Maintenance & Repair, New Installation & Modernization Market CR5 and HHI
5.6.2 Global Top 5 and 10 Elevator Maintenance & Repair, New Installation & Modernization Players Market Share by Revenue in 2024
5.6.3 2024 Elevator Maintenance & Repair, New Installation & Modernization Tier 1, Tier 2, and Tier 3
6 Company Profiles

6.1 Otis
6.1.1 Otis Comapny Information
6.1.2 Otis Business Overview
6.1.3 Otis Elevator Maintenance & Repair, New Installation & Modernization Revenue, Global Share and Gross Margin (2020-2025)
6.1.4 Otis Elevator Maintenance & Repair, New Installation & Modernization Product Portfolio
6.1.5 Otis Recent Developments
6.2 KONE
6.2.1 KONE Comapny Information
6.2.2 KONE Business Overview
6.2.3 KONE Elevator Maintenance & Repair, New Installation & Modernization Revenue, Global Share and Gross Margin (2020-2025)
6.2.4 KONE Elevator Maintenance & Repair, New Installation & Modernization Product Portfolio
6.2.5 KONE Recent Developments
6.3 Hitachi
6.3.1 Hitachi Comapny Information
6.3.2 Hitachi Business Overview
6.3.3 Hitachi Elevator Maintenance & Repair, New Installation & Modernization Revenue, Global Share and Gross Margin (2020-2025)
6.3.4 Hitachi Elevator Maintenance & Repair, New Installation & Modernization Product Portfolio
6.3.5 Hitachi Recent Developments
6.4 Fujitec
6.4.1 Fujitec Comapny Information
6.4.2 Fujitec Business Overview
6.4.3 Fujitec Elevator Maintenance & Repair, New Installation & Modernization Revenue, Global Share and Gross Margin (2020-2025)
6.4.4 Fujitec Elevator Maintenance & Repair, New Installation & Modernization Product Portfolio
6.4.5 Fujitec Recent Developments
6.5 Bagby Elevator Company
6.5.1 Bagby Elevator Company Comapny Information
6.5.2 Bagby Elevator Company Business Overview
6.5.3 Bagby Elevator Company Elevator Maintenance & Repair, New Installation & Modernization Revenue, Global Share and Gross Margin (2020-2025)
6.5.4 Bagby Elevator Company Elevator Maintenance & Repair, New Installation & Modernization Product Portfolio
6.5.5 Bagby Elevator Company Recent Developments
6.6 Syney Electric
6.6.1 Syney Electric Comapny Information
6.6.2 Syney Electric Business Overview
6.6.3 Syney Electric Elevator Maintenance & Repair, New Installation & Modernization Revenue, Global Share and Gross Margin (2020-2025)
6.6.4 Syney Electric Elevator Maintenance & Repair, New Installation & Modernization Product Portfolio
6.6.5 Syney Electric Recent Developments
6.7 Schindler Elevator Corporation
6.7.1 Schindler Elevator Corporation Comapny Information
6.7.2 Schindler Elevator Corporation Business Overview
6.7.3 Schindler Elevator Corporation Elevator Maintenance & Repair, New Installation & Modernization Revenue, Global Share and Gross Margin (2020-2025)
6.7.4 Schindler Elevator Corporation Elevator Maintenance & Repair, New Installation & Modernization Product Portfolio
6.7.5 Schindler Elevator Corporation Recent Developments
6.8 D&D Elevator
6.8.1 D&D Elevator Comapny Information
6.8.2 D&D Elevator Business Overview
6.8.3 D&D Elevator Elevator Maintenance & Repair, New Installation & Modernization Revenue, Global Share and Gross Margin (2020-2025)
6.8.4 D&D Elevator Elevator Maintenance & Repair, New Installation & Modernization Product Portfolio
6.8.5 D&D Elevator Recent Developments
6.9 EMR Elevator
6.9.1 EMR Elevator Comapny Information
6.9.2 EMR Elevator Business Overview
6.9.3 EMR Elevator Elevator Maintenance & Repair, New Installation & Modernization Revenue, Global Share and Gross Margin (2020-2025)
6.9.4 EMR Elevator Elevator Maintenance & Repair, New Installation & Modernization Product Portfolio
6.9.5 EMR Elevator Recent Developments
6.10 Orona
6.10.1 Orona Comapny Information
6.10.2 Orona Business Overview
6.10.3 Orona Elevator Maintenance & Repair, New Installation & Modernization Revenue, Global Share and Gross Margin (2020-2025)
6.10.4 Orona Elevator Maintenance & Repair, New Installation & Modernization Product Portfolio
6.10.5 Orona Recent Developments
6.11 Eastern Elevators Group
6.11.1 Eastern Elevators Group Comapny Information
6.11.2 Eastern Elevators Group Business Overview
6.11.3 Eastern Elevators Group Elevator Maintenance & Repair, New Installation & Modernization Revenue, Global Share and Gross Margin (2020-2025)
6.11.4 Eastern Elevators Group Elevator Maintenance & Repair, New Installation & Modernization Product Portfolio
6.11.5 Eastern Elevators Group Recent Developments
6.12 Mid-American Elevator
6.12.1 Mid-American Elevator Comapny Information
6.12.2 Mid-American Elevator Business Overview
6.12.3 Mid-American Elevator Elevator Maintenance & Repair, New Installation & Modernization Revenue, Global Share and Gross Margin (2020-2025)
6.12.4 Mid-American Elevator Elevator Maintenance & Repair, New Installation & Modernization Product Portfolio
6.12.5 Mid-American Elevator Recent Developments
6.13 HISA
6.13.1 HISA Comapny Information
6.13.2 HISA Business Overview
6.13.3 HISA Elevator Maintenance & Repair, New Installation & Modernization Revenue, Global Share and Gross Margin (2020-2025)
6.13.4 HISA Elevator Maintenance & Repair, New Installation & Modernization Product Portfolio
6.13.5 HISA Recent Developments
6.14 Century Elevator (BrandSafway)
6.14.1 Century Elevator (BrandSafway) Comapny Information
6.14.2 Century Elevator (BrandSafway) Business Overview
6.14.3 Century Elevator (BrandSafway) Elevator Maintenance & Repair, New Installation & Modernization Revenue, Global Share and Gross Margin (2020-2025)
6.14.4 Century Elevator (BrandSafway) Elevator Maintenance & Repair, New Installation & Modernization Product Portfolio
6.14.5 Century Elevator (BrandSafway) Recent Developments
6.15 Asheville Elevator
6.15.1 Asheville Elevator Comapny Information
6.15.2 Asheville Elevator Business Overview
6.15.3 Asheville Elevator Elevator Maintenance & Repair, New Installation & Modernization Revenue, Global Share and Gross Margin (2020-2025)
6.15.4 Asheville Elevator Elevator Maintenance & Repair, New Installation & Modernization Product Portfolio
6.15.5 Asheville Elevator Recent Developments
6.16 Brandywine Elevator Company
6.16.1 Brandywine Elevator Company Comapny Information
6.16.2 Brandywine Elevator Company Business Overview
6.16.3 Brandywine Elevator Company Elevator Maintenance & Repair, New Installation & Modernization Revenue, Global Share and Gross Margin (2020-2025)
6.16.4 Brandywine Elevator Company Elevator Maintenance & Repair, New Installation & Modernization Product Portfolio
6.16.5 Brandywine Elevator Company Recent Developments
6.17 Veterans Development
6.17.1 Veterans Development Comapny Information
6.17.2 Veterans Development Business Overview
6.17.3 Veterans Development Elevator Maintenance & Repair, New Installation & Modernization Revenue, Global Share and Gross Margin (2020-2025)
6.17.4 Veterans Development Elevator Maintenance & Repair, New Installation & Modernization Product Portfolio
6.17.5 Veterans Development Recent Developments
6.18 Warren Elevator
6.18.1 Warren Elevator Comapny Information
6.18.2 Warren Elevator Business Overview
6.18.3 Warren Elevator Elevator Maintenance & Repair, New Installation & Modernization Revenue, Global Share and Gross Margin (2020-2025)
6.18.4 Warren Elevator Elevator Maintenance & Repair, New Installation & Modernization Product Portfolio
6.18.5 Warren Elevator Recent Developments
6.19 Pickerings Lifts
6.19.1 Pickerings Lifts Comapny Information
6.19.2 Pickerings Lifts Business Overview
6.19.3 Pickerings Lifts Elevator Maintenance & Repair, New Installation & Modernization Revenue, Global Share and Gross Margin (2020-2025)
6.19.4 Pickerings Lifts Elevator Maintenance & Repair, New Installation & Modernization Product Portfolio
6.19.5 Pickerings Lifts Recent Developments
6.20 Potomac Elevator Company
6.20.1 Potomac Elevator Company Comapny Information
6.20.2 Potomac Elevator Company Business Overview
6.20.3 Potomac Elevator Company Elevator Maintenance & Repair, New Installation & Modernization Revenue, Global Share and Gross Margin (2020-2025)
6.20.4 Potomac Elevator Company Elevator Maintenance & Repair, New Installation & Modernization Product Portfolio
6.20.5 Potomac Elevator Company Recent Developments
7 North America

7.1 North America Elevator Maintenance & Repair, New Installation & Modernization Market Size Growth Rate (CAGR) by Country: 2020 VS 2024 VS 2031
7.2 North America Elevator Maintenance & Repair, New Installation & Modernization Market Size by Country (2020-2025)
7.3 North America Elevator Maintenance & Repair, New Installation & Modernization Market Size Forecast by Country (2026-2031)
8 Europe

8.1 Europe Elevator Maintenance & Repair, New Installation & Modernization Market Size Growth Rate (CAGR) by Country: 2020 VS 2024 VS 2031
8.2 Europe Elevator Maintenance & Repair, New Installation & Modernization Market Size by Country (2020-2025)
8.3 Europe Elevator Maintenance & Repair, New Installation & Modernization Market Size Forecast by Country (2026-2031)
9 Asia-Pacific

9.1 Asia-Pacific Elevator Maintenance & Repair, New Installation & Modernization Market Size Growth Rate (CAGR) by Country: 2020 VS 2024 VS 2031
9.2 Asia-Pacific Elevator Maintenance & Repair, New Installation & Modernization Market Size by Country (2020-2025)
9.3 Asia-Pacific Elevator Maintenance & Repair, New Installation & Modernization Market Size Forecast by Country (2026-2031)
10 South America

10.1 South America Elevator Maintenance & Repair, New Installation & Modernization Market Size Growth Rate (CAGR) by Country: 2020 VS 2024 VS 2031
10.2 South America Elevator Maintenance & Repair, New Installation & Modernization Market Size by Country (2020-2025)
10.3 South America Elevator Maintenance & Repair, New Installation & Modernization Market Size Forecast by Country (2026-2031)
11 Middle East & Africa

11.1 Middle East & Africa Elevator Maintenance & Repair, New Installation & Modernization Market Size Growth Rate (CAGR) by Country: 2020 VS 2024 VS 2031
11.2 Middle East & Africa Elevator Maintenance & Repair, New Installation & Modernization Market Size by Country (2020-2025)
11.3 Middle East & Africa Elevator Maintenance & Repair, New Installation & Modernization Market Size Forecast by Country (2026-2031)
12 Concluding Insights
13 Appendix

13.1 Reasons for Doing This Study
13.2 Research Methodology
13.3 Research Process
13.4 Authors List of This Report
13.5 Data Source
13.5.1 Secondary Sources
13.5.2 Primary Sources

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