Global Passenger Elevators Market 2025 by Manufacturers, Regions, Type and Application, Forecast to 2031

Global Passenger Elevators Market 2025 by Manufacturers, Regions, Type and Application, Forecast to 2031

According to our (Global Info Research) latest study, the global Passenger Elevators market size was valued at US$ 40320 million in 2024 and is forecast to a readjusted size of USD 53950 million by 2031 with a CAGR of 4.3% during review period.

An Elevator, also called Lift in British English, is a type of transport equipment that efficiently carries passengers or freight between the levels of multistory building. Most modern elevators are propelled by electric motors, with the aid of a counterweight, through a system of cables and sheaves (pulleys). By opening the way to higher buildings, the elevator played a decisive role in creating the characteristic urban geography of many modern cities, especially in the United States, and promises to fill an indispensable role in future city development.

In generally, elevators include the escalators and the moving walkways. An escalator is a moving staircase used as transportation between floors or levels in subways, buildings, and other mass pedestrian areas. A moving walkway or moving sidewalk, travellator, is a slow moving conveyor mechanism that transports passengers across a horizontal or inclined plane over a short to medium distance. The different between the escalator and the moving walkway is the former has stairs and the latter is a flat or slant apron without stairs.

This report studies Passenger Elevators.

Global Passenger Elevators key players include Kone, Otis, Schindler, etc. Global top 3 manufacturers hold a share over 42%.

Asia-Pacific is the largest market, with a sales market share about 85%, followed by Europe, and North America, both have a sales market share about 12 percent.

In terms of product, Elevator is the largest segment, with a share over 87%. And in terms of application, the largest application is Residential Area, followed by Commercial Office, Transportation Hub and Industrial Area.

This report is a detailed and comprehensive analysis for global Passenger Elevators market. Both quantitative and qualitative analyses are presented by manufacturers, by region & country, by Type and by Application. As the market is constantly changing, this report explores the competition, supply and demand trends, as well as key factors that contribute to its changing demands across many markets. Company profiles and product examples of selected competitors, along with market share estimates of some of the selected leaders for the year 2025, are provided.

Key Features:

Global Passenger Elevators market size and forecasts, in consumption value ($ Million), sales quantity (K Units), and average selling prices (US$/Unit), 2020-2031

Global Passenger Elevators market size and forecasts by region and country, in consumption value ($ Million), sales quantity (K Units), and average selling prices (US$/Unit), 2020-2031

Global Passenger Elevators market size and forecasts, by Type and by Application, in consumption value ($ Million), sales quantity (K Units), and average selling prices (US$/Unit), 2020-2031

Global Passenger Elevators market shares of main players, shipments in revenue ($ Million), sales quantity (K Units), and ASP (US$/Unit), 2020-2025

The Primary Objectives in This Report Are:

To determine the size of the total market opportunity of global and key countries

To assess the growth potential for Passenger Elevators

To forecast future growth in each product and end-use market

To assess competitive factors affecting the marketplace

This report profiles key players in the global Passenger Elevators market based on the following parameters - company overview, sales quantity, revenue, price, gross margin, product portfolio, geographical presence, and key developments. Key companies covered as a part of this study include Kone, Otis, Schindler, ThyssenKrupp, Mitsubishi Electric, Hitachi, Toshiba, Hyundai, Fujitec, Hangzhou XiOlift, etc.

This report also provides key insights about market drivers, restraints, opportunities, new product launches or approvals.

Market Segmentation

Passenger Elevators market is split by Type and by Application. For the period 2020-2031, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value. This analysis can help you expand your business by targeting qualified niche markets.

Market segment by Type
Elevator
Escalator
Moving Walkway

Market segment by Application
Residential Area
Commercial Office
Transportation Hub
Industrial Area

Major players covered
Kone
Otis
Schindler
ThyssenKrupp
Mitsubishi Electric
Hitachi
Toshiba
Hyundai
Fujitec
Hangzhou XiOlift
Volkslift
Yungtay Engineering
Canny Elevator
SJEC
Guangri Elevator
Edunburgh Elevator
Suzhou Diao
Meilun Elevator
IFE Elevators
CNYD
Syney Elevator
Dongnan Elevator

Market segment by region, regional analysis covers

North America (United States, Canada, and Mexico)

Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)

Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)

South America (Brazil, Argentina, Colombia, and Rest of South America)

Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)

The content of the study subjects, includes a total of 15 chapters:

Chapter 1, to describe Passenger Elevators product scope, market overview, market estimation caveats and base year.

Chapter 2, to profile the top manufacturers of Passenger Elevators, with price, sales quantity, revenue, and global market share of Passenger Elevators from 2020 to 2025.

Chapter 3, the Passenger Elevators competitive situation, sales quantity, revenue, and global market share of top manufacturers are analyzed emphatically by landscape contrast.

Chapter 4, the Passenger Elevators breakdown data are shown at the regional level, to show the sales quantity, consumption value, and growth by regions, from 2020 to 2031.

Chapter 5 and 6, to segment the sales by Type and by Application, with sales market share and growth rate by Type, by Application, from 2020 to 2031.

Chapter 7, 8, 9, 10 and 11, to break the sales data at the country level, with sales quantity, consumption value, and market share for key countries in the world, from 2020 to 2025.and Passenger Elevators market forecast, by regions, by Type, and by Application, with sales and revenue, from 2026 to 2031.

Chapter 12, market dynamics, drivers, restraints, trends, and Porters Five Forces analysis.

Chapter 13, the key raw materials and key suppliers, and industry chain of Passenger Elevators.

Chapter 14 and 15, to describe Passenger Elevators sales channel, distributors, customers, research findings and conclusion.