Global Passenger Elevators Market Growth 2025-2031

Global Passenger Elevators Market Growth 2025-2031

The global Passenger Elevators market size is predicted to grow from US$ 39850 million in 2025 to US$ 52090 million in 2031; it is expected to grow at a CAGR of 4.6% from 2025 to 2031.

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.

LP Information, Inc. (LPI) ' newest research report, the “Passenger Elevators Industry Forecast” looks at past sales and reviews total world Passenger Elevators sales in 2024, providing a comprehensive analysis by region and market sector of projected Passenger Elevators sales for 2025 through 2031. With Passenger Elevators sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Passenger Elevators industry.

This Insight Report provides a comprehensive analysis of the global Passenger Elevators landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Passenger Elevators portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Passenger Elevators market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Passenger Elevators and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Passenger Elevators.

This report presents a comprehensive overview, market shares, and growth opportunities of Passenger Elevators market by product type, application, key manufacturers and key regions and countries.

Segmentation by Type:
Elevator
Escalator
Moving Walkway

Segmentation by Application:
Residential Area
Commercial Office
Transportation Hub
Industrial Area

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
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

Key Questions Addressed in this Report

What is the 10-year outlook for the global Passenger Elevators market?

What factors are driving Passenger Elevators market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Passenger Elevators market opportunities vary by end market size?

How does Passenger Elevators break out by Type, by Application?

Please note: The report will take approximately 2 business days to prepare and deliver.