Global Smart Elevator Components Market Growth (Status and Outlook) 2025-2031

The global Smart Elevator Components market size is predicted to grow from US$ 1553 million in 2025 to US$ 2304 million in 2031; it is expected to grow at a CAGR of 6.8% from 2025 to 2031.

Smart Elevator uses the IoT system to record the entire cycle of IoT elevators from manufacturing to scrapping, as well as all key information files. It can also use big data analysis methods to count indicators such as fault types, secondary repair rates, and maintenance cycles.

United States market for Smart Elevator Components is estimated to increase from US$ million in 2024 to US$ million by 2031, at a CAGR of % from 2025 through 2031.

China market for Smart Elevator Components is estimated to increase from US$ million in 2024 to US$ million by 2031, at a CAGR of % from 2025 through 2031.

Europe market for Smart Elevator Components is estimated to increase from US$ million in 2024 to US$ million by 2031, at a CAGR of % from 2025 through 2031.

Global key Smart Elevator Components players cover Robustel, Birla Group, Shanghai STEP Electric Corporation, Shenzhen Haiyida Technology Co., Ltd, Mitsubishi Elevator, etc. In terms of revenue, the global two largest companies occupied for a share nearly % in 2024.

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

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

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Smart Elevator Components 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 Smart Elevator Components.

This report presents a comprehensive overview, market shares, and growth opportunities of Smart Elevator Components market by product type, application, key players and key regions and countries.

Segmentation by Type:
Elevator Controller
Control Panels
Access Control Systems
Others

Segmentation by Application:
Residential Elevators
Commercial Elevators
Others

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 analyzing the company's coverage, product portfolio, its market penetration.
Robustel
Birla Group
Shanghai STEP Electric Corporation
Shenzhen Haiyida Technology Co., Ltd
Mitsubishi Elevator
Inovance
Shenzhen INVT Electric Co., Ltd
Jiangsu Huahong Technology
Hangzhou Huning Elevator Parts Co., Ltd

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