Code: MTA4332 | Publication Date: Jun 2025 |
This healthy growth stalks from rapid urbanization, the boom in high-rise residential and commercial buildings, and modernization of aging infrastructure in developed cities.
With smart cities gaining momentum worldwide, demand is rising for energy-efficient, IoT-enabled elevators that offer smoother rides, predictive maintenance, and improved safety features. Furthermore, increased focus on accessibility and stringent building safety codes are pushing developers and facility managers to invest in advanced vertical transport solutions. The trend toward sustainable building design is also increasing innovation in regenerative drives and eco-friendly materials, ensuring the elevator market remains on a strong growth path through 2031.
Company Name | KONE Corporation |
Establishment Year | 1910 |
Headquarter | Espoo, Finland |
Official Website | Click Here |
KONE is a global leader in elevator and escalator manufacturing. Known for its eco-efficient products and digital services, it focuses on intelligent maintenance and urban mobility solutions.
Company Name | Thyssenkrupp Elevator (TK Elevator) |
Establishment Year | 1999 (elevator division) |
Headquarter | Düsseldorf, Germany |
Official Website | Click Here |
TK Elevator is a major global player providing elevators, escalators, and moving walkways. Known for innovations like MULTI, it delivers customized mobility solutions for complex architectural needs.
Company Name | Mitsubishi Electric Corporation |
Establishment Year | 1921 |
Headquarter | Tokyo, Japan |
Official Website | Click Here |
Mitsubishi Electric produces advanced elevator systems with a focus on safety, speed, and energy efficiency. It is renowned for its presence in premium high-rise projects in Asia and around the world.
Company Name | Hitachi Ltd. |
Establishment Year | 1910 |
Headquarter | Tokyo, Japan |
Official Website | Click Here |
Hitachi manufactures high-speed elevators with a strong presence in Asia. The company emphasizes cutting-edge control systems, efficient designs, and has set global records for elevator speeds.
Company Name | Hyundai Elevator Co., Ltd. |
Establishment Year | 1984 |
Headquarter | Icheon, South Korea |
Official Website | Click Here |
Hyundai Elevator offers elevator and escalator systems for various infrastructure needs. It focuses on smart elevators, energy efficiency, and has expanded its footprint in the Middle East and Southeast Asia.
Company Name | Fujitec Co., Ltd. |
Establishment Year | 1948 |
Headquarter | Hikone, Japan |
Official Website | Click Here |
Fujitec specializes in elevator, escalator, and autowalk systems with advanced safety features. Its global operations span North America, Asia, and Europe, supporting residential and commercial projects.
Company Name | Johnson Lifts Pvt. Ltd. |
Establishment Year | 1963 |
Headquarter | Chennai, India |
Official Website | Click Here |
Johnson Lifts is one of the largest Indian elevator and escalator companies. It offers localized solutions for Indian infrastructure and is a market leader in both residential and commercial segments.
Company Name | Schindler Group |
Establishment Year | 1874 |
Headquarter | Ebikon, Switzerland |
Official Website | Click Here |
Schindler offers elevators, escalators, and moving walkways for various building types. It emphasizes safety, performance, and integration of smart digital services in its vertical transportation systems.
Company Name | Omega Elevators |
Establishment Year | 1985 |
Headquarter | Mumbai, India |
Official Website | Click Here |
Omega Elevators is a growing Indian manufacturer with expertise in customized elevators for homes, hospitals, and high-rises. It provides installation, modernization, and maintenance services across India and select global markets.
Company Name | Otis Worldwide Corporation |
Establishment Year | 1853 |
Headquarter | Farmington, Connecticut, USA |
Official Website | Click Here |
Otis is the world’s largest manufacturer of elevators and escalators. It offers cutting-edge solutions for residential, commercial, and high-rise buildings and is recognized for innovations like the Gen2 system and smart elevator technologies.