Gitnux/Report 2026

Elevator Industry Statistics

The global elevator market was approximately $110 billion in 2025, explore the 2025–2030 growth path, the service-heavy company footprint, and the technology shift toward connected maintenance.
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November 11, 2026Updated
Elevator Industry Statistics
Alexander SchmidtWritten by Alexander Schmidt·Fact-checked by Rajesh Patel
Published ·Updated
How this report is researched
01Editorial Scope

An editor sets the topic, the inclusion criteria, and the evaluation framework before research starts.

02Source Research

AI search agents locate sources and extract each figure together with the document it came from.

Read our full methodology →

Search agents attach provenance to every extracted figure.

Next review: within 31 days

01 Industry overview

The elevator industry at a glance

The global elevator market was worth approximately $110 billion in 2025, with service and modernization becoming increasingly important as installed equipment ages and new-building demand softens in parts of Asia-Pacific.

$110B[81]
Global market size, 2025
4%[81]
Forecast CAGR, 2025–2030
1.8M[3]
KONE maintenance base, 2025
6%[6]
U.S. employment growth, 2025–2035
Market size
Roland Berger estimates the global elevator market at $110 billion in 2025. A separate estimate from Grand View Research places the elevators-only market at $82.4 billion in 2025, reflecting differences in scope and methodology.[81][82]
Forecast & CAGR
Roland Berger forecasts growth from $110 billion in 2025 to $133 billion in 2030, equivalent to a CAGR of approximately 4%. Grand View Research forecasts the elevators market to reach $136.9 billion by 2033 from $86.3 billion in 2026, representing a 6.8% CAGR.[81][82]
Market share & regions
Asia-Pacific accounted for approximately 40% of the global elevator market in 2025 according to Roland Berger. Grand View Research estimates Asia-Pacific held a 41.7% share of the elevators market in 2025, while North America accounted for 12.7% in 2024.[81][82]
Segmentation
The industry is commonly divided into new equipment, maintenance and modernization, and further segmented by hydraulic and traction technologies and by residential, commercial and industrial applications. Roland Berger identifies maintenance as the largest business line and modernization as the fastest-growing, at approximately 7% CAGR.[81][82]
Key players & concentration
The leading global manufacturers include Otis, KONE, Schindler, TK Elevator and Mitsubishi Electric. Global Market Insights estimates these five companies collectively held 52.8% of the elevator market in 2025, indicating a concentrated multinational OEM market alongside many regional and independent service providers.[83][3]
Pricing
Pricing varies substantially by capacity, travel height, drive technology, building type and service scope, so reliable global average transaction prices are not consistently reported. In the United States, elevator and escalator installers and repairers had a median annual wage of $109,910 in May 2025, highlighting labor as a major operating-cost component.[6]
Trends, drivers & challenges
Urbanization, high-rise construction, accessibility requirements, energy efficiency and connected predictive maintenance support demand. The principal near-term challenge is weaker new-equipment demand in China and other parts of Asia-Pacific; Roland Berger expects the China downturn to persist until 2027, while modernization grows at about 7% annually.[81][3]
Consumer behavior & competition
KONE reports that its equipment moves approximately 2 billion people each day and that its maintenance base exceeded 1.8 million units in 2025. Competition therefore extends beyond initial equipment sales to uptime, response times, digital monitoring, repairs and long-term modernization contracts.[3]
M&A
On April 29, 2026, KONE and a consortium led by Advent and Cinven announced an agreement to combine KONE and TK Elevator in a transaction implying a €29.4 billion enterprise value for TKE. The proposed combination would create a group with approximately €20.5 billion in annual sales and about 3.2 million units under maintenance, based on the companies’ respective latest financial years.[1]
Regulation
In the European Union, Directive 2014/33/EU governs lifts and lift safety components, covering permanently installed lifts used to transport people or goods and requiring conformity assessment and CE marking. The directive excludes escalators, moving walkways, construction-site hoists and lifts operating at speeds not exceeding 0.15 metres per second.[84]
Latest news
The most significant 2026 development identified is the proposed KONE–TK Elevator combination announced on April 29, 2026, valued at €29.4 billion for TKE. The transaction is strategically focused on scale, service and modernization, with the combined group expected to maintain approximately 3.2 million elevator and escalator units.[1]

02 Ranking

Top 10 Companies in the Elevator Industry

The leading companies in the elevator industry, ranked on market impact, performance, momentum, innovation and brand popularity.

Updated November 7, 2026 · Next review December 7, 2026

Verdict

Hyundai Elevator stands out for elevator technology execution because its deep-learning fault-diagnosis system was registered in August 2024, while Hitachi focuses on elevators for homes and small-scale buildings since it develops, manufactures, sells and installs elevators for those segments.

Ranked by Overall score · How we score ↓

Editor's top 3 picks

Where to start, by need.

  1. #1 Overall · Leader in elevator & escalator OEMs

    Hyundai Elevator

    KR

    Ranked #1 · 9.0 · Elevator & escalator OEMs

    Why we picked it: We see a strong position in South Korea’s new-elevator market while it supports service efficiency with deep-learning fault diagnosis.

    See in ranking ↓Visit hyundaielevator.co.kr ↗

  2. Leader in elevator & escalator service

    TK Elevator

    DE

    Ranked #3 · 9.0 · Elevator & escalator service

    Why we picked it: Service scale centers on maintenance and modernization, supported by a units-under-maintenance base above 1.4 million.

    See in ranking ↓Visit tkelevator.com ↗

  3. Leader in building systems

    Mitsubishi Electric

    JP

    Ranked #4 · 8.9 · Building systems

    Why we picked it: Its Building Systems scope links elevator and escalator deployment with building management systems in a single business line.

    See in ranking ↓Visit mitsubishielectric.com ↗

Pick 1 is the #1 company overall. Picks 2 and 3 are the highest-ranked companies in the top 5 that add a new segment.

Full ranking

Sort by
Top 10 companies in the elevator industry, 2026 – Gitnux ranking
#CompanyOverall ↓Company snapshot
1

Hyundai Elevator

Elevator & escalator OEMs · KR

9.0
2

Hitachi

Elevator & escalator OEMs · JP

9.0
3

TK Elevator

Elevator & escalator service · DE

9.0
4

Mitsubishi Electric

Building systems · JP

8.9
5

Fujitec

Elevator & escalator OEMs · JP

8.7
6

Schindler

Elevators, escalators, moving walks and service · CH

8.5
7

KONE

Elevators, escalators, service and modernization · FI

8.5
8

Otis Worldwide

Elevators, escalators, maintenance and modernization · US

8.4
9

KLEEMANN

Complete lifts, escalators and moving walks · GR

7.6
10

Cibes Lift Group

Space-saving platform and home lifts · SE

7.5

How we score

  • Impact (30%): scale and weight in the market (revenue, market share, employees, market position).
  • Performance (20%): recent revenue growth and operating margin; an analyst assessment where a company does not publish them.
  • Momentum (20%): growth trajectory and future potential.
  • Innovation (15%): R&D intensity and how technologically advanced the company is.

Popularity (brand search demand, 15%) counts toward Overall but is not published as a column. Overall leaves out what is not known.

Scale Scores are shown on a 7–10 scale with one decimal; bars start at 7.0.

Cadence Recalculated when new figures are published; next review December 7, 2026.

Independence. Rankings are editorially independent. Scores, ranks, picks and the verdict follow the method above; no company can pay to change them.

Cite this ranking

APA

Alexander Schmidt. (2026, February 27). Top 10 companies in the elevator industry. In Elevator Industry Statistics. Gitnux. https://gitnux.org/elevator-industry-statistics/#top-companies

report visual · Comparison

Revenue of the largest elevator companies

Hitachi leads with $70.9B in annual revenue (group level, converted to USD).

Hitachi$70.9B
Mitsubishi Electric$39.5B
Otis Worldwide$14.4B
Schindler$12.4B
KONE$12.1B
TK Elevator$9.9B
source-verifiedhitachi.com · mitsubishielectric.com · otis.com · group.schindler.com · kone.com · tkelevator.com2026

04 Statistics

Technology & Innovation

Technology spending turns into measurable service outcomes, including KONE’s connected 61% first-time-fix rate and 80% failure identification before events.

AI in the elevator industry

  • 1 agentic-AI collaboration between TK Elevator and Microsoft was announced in April 2026 to support elevator service, customer support and maintenance.[1]
  • 1 recurrent-neural-network elevator fault-diagnosis system was registered by Hyundai Elevator in August 2024 to shorten maintenance time through deep learning.[2]
  • 33% fewer service cancellations were reported in the United States in 2025 after TK Elevator deployed AI-supported digital operations.[1]
  • 1 vision-based AI service, MIRI Service, was developed by Hyundai Elevator to improve elevator operating efficiency, convenience and safety in 2024.[2]
  • 61% was KONE’s first-time-fix rate for connected equipment using artificial-intelligence-supported predictive maintenance in the United States and Canada.[3]
  • 80% of elevator failures can be identified before they happen using KONE connectivity, artificial intelligence and digital services.[3]

Automation in the elevator industry

  • 31,547 elevator installers and repairers made up the United States workforce in 2024.[4]
  • 20% faster people and material flow onsite can be enabled by KONE JumpLift, a self-climbing construction elevator that moves upward with the building.[3]
  • 1 Otis AI inspection robot was unveiled in China in 2025 to autonomously detect potential elevator hazards and issue alerts.[5]
  • 1.1 million Otis connected units globally provided the digital infrastructure for automated monitoring and service processes in 2025.[5]
  • 26,100 elevator and escalator installers and repairers are projected to be employed in the United States in 2035.[6]
  • 24,700 elevator and escalator installers and repairers were employed in the United States in 2025.[6]

Digital Transformation in the construction and real estate sector (sector benchmark)

  • Among 933 engineering and construction businesses surveyed, 41% were already using mobile apps in 2024.[7]
  • Across Australia’s building and construction industry, 64% of organisations invested in data and digitalisation during the 12 months before the 2025 survey.[8]
  • Among 933 engineering and construction businesses surveyed, 47% were already using data analytics in 2024.[7]
  • Among 933 engineering and construction businesses surveyed, 38% were already using building information modelling in 2024.[7]

Technology Adoption in the construction and real estate sector (sector benchmark)

  • Among ICI contractors surveyed in 2024, 35% reported experience using advanced building materials.[9]
  • Among ICI contractors surveyed in 2024, 43% reported experience using jobsite data-collection applications.[9]
  • Among ICI contractors surveyed in 2024, 44% reported experience using building information modelling.[9]
  • Among ICI contractors surveyed in 2024, 11% reported experience using artificial intelligence.[9]

Cloud Computing in the construction and real estate sector (sector benchmark)

  • Across capital-projects and infrastructure organisations surveyed globally, 89% were currently using cloud technology in 2025.[10]
  • Among capital-projects and infrastructure organisations surveyed globally, 2% neither used cloud technology nor planned to use it within 12 months in 2025.[10]
  • Among 933 engineering and construction businesses surveyed, 43% were already using construction-management cloud software in 2024.[7]
  • Across capital-projects and infrastructure organisations surveyed globally, 9% planned to adopt cloud technology within the next 12 months in 2025.[10]

Big Data in the construction and real estate sector (sector benchmark)

  • Across real estate companies, 13% have access to real-time business intelligence and analytics, according to the 2024 commercial real estate outlook.[11]
  • Across capital-projects and infrastructure organisations surveyed globally, 48% were currently using big data and Internet-of-Things technologies in 2025.[10]
  • Across capital-projects and infrastructure organisations surveyed globally, 30% planned to adopt big data and Internet-of-Things technologies within 12 months in 2025.[10]
  • Across global real estate owners and investors, 61% remain dependent on legacy technology infrastructures, according to Deloitte’s 2024 outlook survey.[11]
  • Across real estate investors, 60% report that a formal data initiative is underway at their firm, based on an EY survey of more than 50 executives.[12]
  • Across European enterprises, big-data analytics adoption in construction was 4% in the latest Eurostat-based data reported by the OECD.[13]

05 Statistics

Data & Analytics

Data scale and data governance show up as operational constraints, from device connectivity counts to how often teams require a data governance plan.

Business intelligence in the elevator industry

  • 30 countries were covered by LJ Elevator’s global operations in 2023, supporting international collection and use of service data.[14]
  • 1.35 million devices, including units under warranty, were connected through LJ Elevator’s products in its 2023 annual report.[14]
  • 600,000 customers were served by KONE globally, according to its company profile covering 2024 operations.[15]
  • 34 countries and territories were served by Otis ONE, Otis’s cloud-connected elevator solution, in 2025.[5]
  • 35% of KONE’s connected lifts were in its service base in 2024, expanding the company’s digital-service business-intelligence capabilities globally.[3]
  • 1.8% of KONE’s sales was allocated to research and development in 2024, including digital elevator technologies.[3]

Data analytics in the elevator industry

  • 107,000 connected elevators were included in Zardoya Otis’s maintenance portfolio in 2020, using data analysis and predictive monitoring.[5]
  • 61% was KONE’s first-time-fix rate for connected units in the USA and Canada over a 12-month observation period.[3]
  • 119 days was the average interval between failures for KONE connected units in the USA and Canada over a 12-month period.[3]
  • 61% was KONE’s first-time-fix rate for connected units in the USA and Canada during a 12-month observation period.[3]
  • 35% was the connected-lift share of KONE’s service base in 2024, enabling data-driven transformation of maintenance operations.[3]
  • 34 countries and territories used Otis ONE cloud connectivity for elevator monitoring in 2025.[5]

Data Quality in the construction and real estate sector (sector benchmark)

  • Across institutional real estate, data quality received an average self-rating of 6.2 out of 10 in 2026, based on 72 professionals across 38 firms.[16]
  • Across construction companies, 38% rated their ability to share and use data with internal and external collaborators as strong in the report’s construction sample.[17]
  • Across construction professionals, 76% said departments frequently or occasionally work from different systems and data sources in a 2026 survey.[18]
  • Across construction professionals, 72% said they spend more than three hours gathering and preparing data before it is ready for analysis in a 2026 survey.[18]
  • Across UK housing providers, 48% were totally confident in their real-estate asset data in 2022, compared with 34% confident in management and maintenance data.[19]
  • Across UK housing providers, only 23% were confident in tenant or customer data in 2022, the lowest confidence level among the data categories surveyed.[19]

Data Governance in the construction and real estate sector (sector benchmark)

  • Across US construction owners, 45% required project teams to define a data governance plan in the 2024–2025 survey period.[20]
  • Across US construction owners, 45% did not provide regular data training in the 2024–2025 survey period, limiting governance capability and consistent data use.[20]
  • Across institutional real estate, governance readiness for AI received an average self-rating of 5.1 out of 10 in 2026, based on 72 professionals across 38 firms.[16]
  • Across construction businesses, 10% reported in 2023 that they did not have a well-defined data governance policy.[21]
  • Across US construction owners, 11% required project teams to use data standards on all projects in the 2024–2025 survey period.[20]
  • Across US construction owners requiring data governance plans, 19% required them on a majority of projects in the 2024–2025 survey period.[20]

KPIs in the elevator industry

  • 83% of TK Elevator’s electricity came from renewable sources globally in 2025.[1]
  • 21 elevator entrapments were recorded at Washington University School of Medicine in fiscal year 2023.[22]
  • 31% was TK Elevator’s reduction in Scope 1 and 2 emissions versus its 2019 baseline in 2025.[1]
  • 95% of TK Elevator’s risk-critical suppliers were covered by a 360-degree sustainability assessment in 2025.[1]
  • 0.09 callbacks per elevator per month were recorded at Washington University School of Medicine in fiscal year 2023.[22]
  • 2 elevators had more than eight callbacks during fiscal year 2023 at Washington University School of Medicine.[22]

06 Statistics

Strategy & Growth

Service base growth and modernization activity stand out, including KONE’s maintenance base at approximately 1.8 million units at the end of 2025.

Growth in the elevator industry

  • €1.6 billion was TK Elevator’s adjusted EBITDA in fiscal 2024/2025, up 12% year over year.[1]
  • KONE’s elevator and escalator service base reached approximately 1.8 million units at the end of 2025, up from more than 1.7 million units at the end of 2024.[3]
  • 16.4% was Hyundai Elevator’s three-year revenue CAGR through 2024, based on revenue growth from KRW2,129 billion in 2022 to KRW2,885 billion in 2024.[2]
  • 5.9% was Otis Service sales growth in 2024, rising from $8.397 billion in 2023 to $8.894 billion.[23]
  • KONE’s sales grew 1.3% year over year to €11,245.2 million in 2025.[3]
  • 19% was TK Elevator’s FX-adjusted Modernization sales growth in fiscal 2023/2024, with seven consecutive quarters of double-digit growth.[1]

Differentiation in the elevator industry

  • More than 24 million elevators and escalators operate globally, according to Schindler’s 2025 modernization review.[24]
  • 44,000 field professionals were employed by Otis in 2024, supporting its service and modernization differentiation.[25]
  • KONE supplied elevator technology to five of the world’s ten tallest buildings in 2025.[3]
  • 2.5 billion people are moved daily by Otis elevator and escalator systems worldwide.[5]
  • 37.4% was Hyundai Elevator’s share of South Korea’s domestic new-elevator market in 2024, its 18th consecutive year in the leading position.[2]
  • Otis maintained about 2.5 million customer units worldwide in 2025.[5]

Mergers and acquisitions in the elevator industry

  • June 2024 was the completion date for APi Group’s acquisition of Elevated Facility Services, creating an elevator and escalator service platform.[26]
  • KONE agreed to acquire Capitol Elevator, a California elevator service company with more than 50 years of industry history, in 2024.[3]
  • $435 million was the cumulative purchase price across more than 95 elevator-industry transactions handled by Lift Business since 1998.[27]
  • $570 million was the cash purchase price announced by APi Group for Elevated Facility Services in 2024.[26]
  • Two Norwegian elevator companies—UNIHEIS in 2023 and ALT Heis in 2024—were acquired by Mitsubishi Electric’s Motum subsidiary.[28]
  • November 29, 2024 was the date Mitsubishi Electric announced the acquisition of all shares in Norwegian elevator company ALT Heis.[28]

Strategic partnerships in the elevator industry

  • KRW3 billion was provided over three years by Hyundai Elevator for supplier welfare programs under its 2024 mutual-growth agreement.[2]
  • Two free technology-transfer cases were reported by Hyundai Elevator under its supplier technology-protection program for 2024–2025.[2]
  • KONE’s collaboration with Tallinn’s Ülemiste City reduced building energy use and emissions by up to 36% by using elevator data to optimize HVAC systems in 2025.[29]
  • 86 supplier technology-development support cases, funded at KRW773 million, were recorded by Hyundai Elevator in its 2024–2025 ESG report.[2]
  • KRW50 million was the maximum interest-free emergency loan available to each qualifying Hyundai Elevator supplier in 2024–2025.[2]
  • KRW5 billion was the size of Hyundai Elevator’s mutual-growth fund for supplier financing in the 2024–2025 reporting period.[2]

07 Statistics

People & Workforce

Labor remains central to service cost and capacity, highlighted by U.S. employment of 31,547 elevator installers and repairers in 2024.

Hiring in the elevator industry

  • 8,467 employees were hired by TK Elevator globally in fiscal 2021/22.[1]
  • 1,383 female employees were hired by TK Elevator globally in fiscal 2023/24.[1]
  • 3,036 employees aged 30–39 were hired by TK Elevator globally in fiscal 2023/24.[1]
  • 1,454 employees aged 40–49 were hired by TK Elevator globally in fiscal 2023/24.[1]
  • 8,936 employees were hired by TK Elevator globally in fiscal 2023/24.[1]

Employee retention in the elevator industry

  • 8.4% was TK Elevator’s voluntary turnover rate among male employees in fiscal 2023/24.[1]
  • 4.0% was TK Elevator’s voluntary turnover rate among employees aged 50–59 in fiscal 2023/24.[1]
  • 8.4% was TK Elevator’s global voluntary employee turnover rate in fiscal 2023/24.[1]
  • 6.7 years was TK Elevator’s median employee tenure globally in fiscal 2023/24.[1]
  • 10.3% was TK Elevator’s voluntary turnover rate in Asia-Pacific in fiscal 2023/24.[1]

Remote Work in the construction and real estate sector (sector benchmark)

  • In 2024, 2.7% of construction positions were fully remote in the U.S., according to employers surveyed by NACE.[30]
  • In 2024, 23.7% of finance, insurance and real-estate positions were fully remote in the U.S., according to employers surveyed by NACE.[30]
  • About 9% of U.S. construction workers worked remotely at least sometimes during October 2023–September 2024, including hybrid and fully remote work.[31]
  • In January 2024, 33.63% of U.S. real-estate wage and salary employees worked from home, based on the Survey of Working Arrangements and Attitudes.[32]

Hybrid Work in the construction and real estate sector (sector benchmark)

  • Forty-two percent of real-estate investment managers expected employees to be in the office four days per week within six to 12 months, according to a 2025 NAREIM survey.[16]
  • In 2024, 15.0% of construction positions were fully hybrid in the U.S., according to employers surveyed by NACE.[30]
  • In 2024, 43% of surveyed real-estate executives identified flexible workday schedules as a leading talent-acquisition and retention action.[11]
  • In 2024, 55.8% of finance, insurance and real-estate positions were fully hybrid in the U.S., according to employers surveyed by NACE.[30]

Upskilling in the elevator industry

  • More than 300 TK Elevator employees had volunteered as instructors, mentors and role models by the end of fiscal 2022/23.[1]
  • 3.5 training days per employee was TK Elevator’s global average in fiscal 2023/24.[1]
  • Over 300 TK Elevator employees had participated as Education4Future instructors, mentors or role models by fiscal 2022/23.[1]
  • More than 25,500 Schindler field employees completed human-rights training in 2025.[24]
  • 98% of KONE employees in the target group completed anti-bribery and corruption training by the end of 2025.[3]

Employee Engagement in the construction and real estate sector (sector benchmark)

  • Across construction and heavy industry, the average employee eNPS was +24 in the 2026 benchmark.[33]
  • Forty-seven percent of construction employers said their workforce was highly engaged in the 2018 U.S. construction benefits benchmarking survey.[34]
  • Across construction and heavy industry, Rewards received the lowest reported driver score at 6.95 out of 10 in 2026.[33]
  • Across construction and heavy industry, employees scored 8.00 out of 10 for engagement in the 2026 benchmark.[33]
  • Across real estate organizations represented in Culture Amp’s benchmark, 73% of employees were engaged based on data collected from July 2025 through June 2026.[35]

DEI in the elevator industry

  • 26% of Schindler senior leadership positions were held by women in 2025, excluding the United States from the calculation.[24]
  • 40 countries were covered by Otis’s employee self-identification campaign in 2023.[36]

08 Statistics

Customer & Sales

Customer-service delivery increasingly depends on digital monitoring and long-term contracts, including Otis modernization organic sales growth of 9% in 2025.

Customer experience in the elevator industry

  • 80% of elevator reliability issues can reportedly be solved by replacing doors, according to a Schindler executive cited in 2025 coverage.[37]
  • More than 2.4 billion people were moved daily by Otis elevators and escalators in 2024.[25]
  • Schindler digital monitoring delivered elevator recovery up to 34% faster after breakdowns.[24]
  • More than 35% of Schindler’s global escalator and moving-walk portfolio was cloud-connected by the end of 2024.[38]
  • 13,000 or more customer interviews are included each year in KONE’s annual customer-loyalty survey.[3]

Customer retention in the elevator industry

  • Four consecutive years of more than 4% maintenance-portfolio growth were reported by Otis through 2024.[25]
  • 11.7% organic sales growth was achieved by Otis Modernization in 2024, supporting retention and recapture opportunities.[25]
  • More than 10 million global elevator units are projected to be ready for modernization by 2030, up from 8 million previously estimated.[25]
  • 4.2% growth was recorded in Otis’s maintenance portfolio during 2024.[25]
  • 2.5 million elevator units were under Otis maintenance contract at the end of 2025, after four consecutive years of 4% portfolio growth.[5]

Customer acquisition in the elevator industry

  • 550,000 or more customers were served by KONE according to a 2023 company case-study presentation.[39]
  • $109 million was invested by Otis in targeted acquisitions during 2025 to expand its market presence.[5]
  • 70% or more of new elevator units ordered in selected European markets used Schindler’s standardized modular platform in 2024.[24]
  • $14.4 billion in net sales were generated by Otis worldwide in 2025.[5]
  • $14.3 billion in net sales were generated by Otis worldwide in 2024.[25]

Customer loyalty in the elevator industry

  • More than 35% of Schindler’s escalator and moving-walk portfolio was connected to the Cloud by the end of 2024, supporting customer-service loyalty.[38]
  • 2.4 billion people were moved daily by Otis in 2024.[25]
  • 60% of Otis sales came from its Service segment in 2024.[25]
  • 34% faster recovery after breakdowns is available through Schindler’s connected digital services.[24]
  • Modernization net promoter scores improved at KONE during the first half of 2024.[3]

Lead generation in the elevator industry

  • 11 times higher conversion rates were achieved in a digital-marketing program for Kencor Elevator.[40]
  • 2,400 legitimate phone calls and form submissions were generated for Kencor Elevator through digital marketing over 11 years.[40]
  • 371 conversion leads were generated by Schindler Elevator Corporation’s U.S. social-listening campaign, creating a minimum $3.71 million pipeline.[41]
  • 547% growth in Facebook page visits was achieved by ElevatorInfo through an omnichannel digital-marketing campaign.[42]
  • 371 total conversion leads were attributed to Schindler’s targeted social-listening program in the United States.[41]

09 Statistics

Marketing & Brand

Demand capture still relies on targeted digital channels, with Elevator World reporting 60,000+ website views per month in its 2025 media kit.

Marketing in the elevator industry

  • 40,000+ print readers were reported for Elevator World in 2025.[43]
  • 56% of surveyed Elevator World readers said companies that advertise build trust and appear reliable in 2025.[43]
  • 55% of surveyed Elevator World readers said advertising in the publication had the same value as exhibiting at an industry event in 2025.[43]
  • 60,000+ website views per month were reported for Elevator World in its 2025 media kit.[43]
  • $5,500 was the listed price for a global Elevator World webinar sponsorship.[43]

Digital marketing in the elevator industry

  • 371 conversion leads were generated by Schindler Elevator Corporation’s U.S. social-listening program in 2018.[41]
  • 177.72% was the increase in Sandoval Elevator Company’s website traffic during its March 2022–February 2023 digital marketing campaign.[44]
  • 110 to 445 leads was the increase in display leads reported for a Singapore mobility-solutions company’s digital campaign.[45]
  • 281.08% was the increase in Sandoval Elevator Company’s social traffic during its March 2022–February 2023 digital marketing campaign.[44]
  • 1 was Sandoval Elevator Company’s Google search position for the branded query after its 2022–2023 digital marketing campaign.[44]

Branding in the elevator industry

  • 2 billion people per day were reported as using Schindler mobility systems worldwide in the company’s brand presentation.[38]
  • 561 elevator units were replaced or upgraded by GFC in 2023.[46]
  • 98 was ElevatorInfo’s reported SEMrush SEO Site Audit score after its website and digital marketing changes.[47]
  • 150+ years was Schindler’s stated history of continuous service and family-owned management in its brand promise.[38]
  • 38% was the increase in ElevatorInfo Facebook page likes reported after the campaign.[47]

Social media in the elevator industry

  • 556,112 LinkedIn followers were listed for Otis Elevator Co. when the company page was crawled in 2026.[48]
  • 13,800 Instagram followers were listed for Schindler Elevator North America in the available elevator-brand social-account ranking.[49]
  • 61,500+ people were reported as reachable across Elevator World’s social-media platforms in 2025.[43]
  • 3 of 6 companies in Quodigi IQ’s 2026 Italian elevator-sector sample had active Instagram profiles.[50]
  • 352,900 average LinkedIn followers were reported across the companies in Quodigi IQ’s 2026 Italian elevator-sector sample.[50]

Influencer Marketing in the construction and real estate sector (sector benchmark)

  • Across U.S. prospective home buyers, 42% preferred Instagram for communication with a real estate agent in 2025, compared with 47% preferring Facebook.[51]
  • Among U.S. real estate professionals, 52% said social media generated the highest number of quality leads in the previous 12 months in 2024.[52]
  • Among U.S. real estate professionals, 15% used TikTok for business in 2024, while 10% used X (formerly Twitter).[52]
  • Across U.S. prospective home buyers, 41% said in 2025 they were more likely to hire a real estate agent with a social media presence.[51]
  • Among U.S. real estate professionals, 62% used Instagram for business in 2024, alongside 87% using Facebook and 25% using YouTube.[52]

10 Statistics

Operations & Execution

Operational continuity and throughput matter in service, with KONE delivering around 750 elevator and escalator units daily in 2025.

Process optimization in the elevator industry

  • 24/7/365 onsite KONE assistance was provided at Phoenix Sky Harbor Airport to support continuous operations across the transport facility.[3]
  • Around 750 elevator and escalator units were delivered daily by KONE’s factories in 2025, according to the company’s anniversary release.[3]
  • 72 high-performance SkyRise elevators were installed by Otis at JPMorgan Chase’s 270 Park Avenue headquarters in New York in 2025.[5]
  • 238 elevator, escalator and moving-walk units were maintained by KONE at Phoenix Sky Harbor Airport under its asset-management approach.[3]
  • 89 elevator and escalator units were installed by Otis at 270 Park Avenue in New York, including 72 SkyRise elevators and 12 escalators.[5]

Operational efficiency in the elevator industry

  • Over 1.8 million elevator and escalator units formed KONE’s maintenance base in 2025.[3]
  • 65% of TK Elevator revenue came from service and modernization in 2024/25.[1]
  • More than 69,000 employees worked at Schindler in 2024 across its global elevator and escalator operations.[24]
  • 2.5 billion people are moved daily by Otis elevators and escalators worldwide.[5]
  • 72,000 colleagues worked at Otis in 2025 across its global elevator and escalator business.[5]

Quality management in the elevator industry

  • 24,789 lift inspections were conducted by Hong Kong’s EMSD in 2022.[53]
  • 0.3% of lifts inspected by TÜV NORD in Germany had dangerous defects in 2025.[54]
  • 58.3% of lifts inspected by TÜV NORD in Germany had minor defects in 2025.[54]
  • 58% of outages occurred because of unscheduled maintenance or TSSA shutdowns among elevators with under 95% average uptime.[55]
  • 48 non-compliance cases were identified in Hong Kong lift inspections in 2019.[53]

Supply chain in the elevator industry

  • 1,400 patent families were held by Schindler globally in 2024, supporting elevator and escalator product development.[24]
  • CHF 185 million was invested by Schindler in research and development in 2024.[24]
  • 155,911 million Korean won was Hyundai Elevator’s 2022 purchase amount for hoistways and hatches.[2]
  • 26,314 million Korean won was Hyundai Elevator’s 2022 purchase amount for wire rope.[2]
  • More than 45,000 suppliers, including subcontractors, were used by Schindler globally in 2024.[24]

Outsourcing / Offshoring in the construction and real estate sector (sector benchmark)

  • $5.66 per agent per month was the average outsourced accounting-labor price for U.S. real-estate brokerages with more than 500 agents, based on an August 2024 survey.[56]
  • 41% of Australian infrastructure construction was completed by subcontractors in 2025, according to Infrastructure Australia’s analysis of Australian Bureau of Statistics data.[8]
  • 45% of Australian infrastructure-construction businesses surveyed in 2025 reported cost overruns as a challenge when managing subcontracting or labour-hire relationships.[8]
  • 46.5% of Australian construction-industry input costs came from outsourced services in 2024, including labour hire, consultants and capital rentals.[8]
  • 11% of income in Australian civil engineering, non-residential building and related construction came from subcontracting in 2025.[8]

11 Statistics

Finance & Pricing

Pricing is not standardized, so operators rely on margins and cash generation, including Otis Service operating profit margin of 25.1% in 2025.

Pricing strategy in the elevator industry

  • 0.8% was Schindler’s 2024 revenue growth in local currencies, with modernization and service growth offsetting weaker new-installation activity globally.[24]
  • 6.3% was KONE’s fourth-quarter 2025 order growth, with comparable-rate growth of 12.2% across its elevator and escalator business.[3]
  • 7% was Otis New Equipment order growth excluding China in 2025, reflecting disciplined execution, customer planning and targeted price gains globally.[5]
  • 3.5% to 5% of installation cost was estimated as the annual ongoing cost of an elevator in developed markets.[57]
  • 9% was Otis modernization organic sales growth in 2025, reflecting pricing and demand for upgrade projects across its served markets.[5]

Cost reduction in the elevator industry

  • 19% was TK Elevator’s reduction in Scope 3 emissions from sold-product use versus its 2021 baseline in 2025.[1]
  • 90% was KONE’s reported reduction in annual elevator energy consumption since the 1980s through efficient drives, lighting and standby technology.[3]
  • $45 million was Otis’s expected annual recurring saving from restructuring actions initiated in 2024, split between product-and-service costs and selling expenses.[25]
  • More than 5% was KONE’s reduction in fixed cost per maintenance unit in an efficiency example presented for its elevator service operations.[3]
  • 78% is the maximum embodied-carbon reduction KONE reports for partial elevator upgrades compared with full replacement, reducing project material costs and waste.[3]

Profitability in the elevator industry

  • 9% was the increase in Otis Service operating profit from 2024 to 2025.[5]
  • 25.1% was Otis Service’s operating profit margin in 2025.[5]
  • $2.374 billion was Otis Service operating profit in 2025.[5]
  • 34.7% was KONE’s return on equity in 2025, compared with 33.8% in 2024.[3]
  • €1.3693 billion was KONE’s adjusted EBIT in 2025, compared with €1.3030 billion in 2024.[3]

Financial planning in the elevator industry

  • 39.9% was KONE’s equity ratio at the end of 2025, a key indicator for balance-sheet planning.[3]
  • €1.7613 billion was KONE’s 2025 operating cash flow before financing items and taxes, supporting investment and financing plans.[3]
  • €699.8 million was KONE’s net cash position at the end of 2025, providing financial flexibility for capital allocation.[3]
  • 12.5% to 12.9% was KONE’s updated 2026 adjusted EBIT-margin outlook announced on October 28, 2026.[3]
  • €9.0874 billion was KONE’s order intake in 2025, providing the basis for its global sales and capacity planning.[3]

12 Statistics

Product & Service

Service and modernization link installed equipment to recurring revenue, including Otis service revenue of $7.584 billion in 2025.

Product development in the elevator industry

  • 10 manufacturing units operated by KONE across seven countries in 2025.[3]
  • 3.1% was the average annual growth in China’s elevator-related exports from 2013 to 2024.[58]
  • 375,000 units were exported by India in 2024, making it the largest exporter in the category.[58]
  • 7 R&D units operated by KONE across seven countries in 2025.[3]
  • 1.1 million units of lifts, elevators, moving stairways and draglines were exported worldwide in 2024.[58]

Product lifecycle in the elevator industry

  • $1.527 billion was Otis modernization revenue in 2023.[59]
  • $7.584 billion was Otis maintenance-and-repair revenue in 2025.[59]
  • About 50% of elevators in Europe are more than 20 years old, according to Schindler.[24]
  • 5% was TK Elevator’s fiscal 2024/25 service sales growth.[1]
  • €9.2 billion was TK Elevator’s fiscal 2024/25 sales, measured on a foreign-exchange-adjusted basis.[1]

After-sales in the elevator industry

  • €1.8 billion was Hyundai Elevator’s 2024 installation-and-maintenance service sales, including domestic and export sales, before consolidation adjustments.[60]
  • 13.8% was Hyundai Elevator’s expected 2025 maintenance-order growth rate in its fiscal 2025 guidance.[2]
  • $8.894 billion was Otis service revenue in 2024.[59]
  • 2.4 million customer units were maintained worldwide by Otis in 2024.[25]
  • 201,224 elevator units were in Hyundai Elevator’s domestic maintenance base in South Korea in 2024.[2]

Value proposition in the elevator industry

  • 2 billion people were moved daily by KONE in 2025.[3]
  • More than 40,000 suppliers worked with KONE in 2025.[3]
  • 65% of TK Elevator’s fiscal 2024/25 revenue came from service and modernization activities.[1]
  • 37.4% was Hyundai Elevator’s domestic new-elevator market share in South Korea in 2024.[2]
  • KRW 2.8853 trillion was Hyundai Elevator’s consolidated sales in 2024.[2]

13 Statistics

Sustainability & Ethics

Decarbonization targets show up alongside operational metrics, including TK Elevator’s 31% reduction in Scope 1 and 2 emissions versus its 2019 baseline in 2025.

Sustainability in the elevator industry

  • 7,600 kW was the renewable-energy capacity operated at Hyundai Elevator’s Chungju Smart Campus in 2024.[2]
  • 3,472 tonnes of CO2e were avoided by Hyundai Elevator through third-party renewable-energy PPAs in 2024.[2]
  • 22.6% was KONE’s reduction in product-related emissions per product ordered versus its 2018 baseline in 2025.[3]
  • 24% was TK Elevator’s reduction in Scope 1 and 2 emissions versus its 2019 baseline in fiscal 2022/23.[1]
  • 68% of TK Elevator’s worldwide operational electricity came from renewable sources in fiscal 2022/23.[1]

ESG in the elevator industry

  • Five consecutive years was TK Elevator’s recognition as a CDP Supplier Engagement Leader through 2025.[1]
  • 97% of KONE distributors had signed the company’s Distributor Code of Conduct in 2024.[29]
  • Three TK Elevator locations held LEED Gold certification as of fiscal 2022/23.[1]
  • 2050 is TK Elevator’s latest target year for reaching net-zero global emissions.[1]
  • 82% of energy consumption at TK Elevator’s ISO 50001-certified factories was covered by the certification as of fiscal 2022/23.[1]

Ethics in the elevator industry

  • Over 30 languages were supported by KONE’s independent compliance reporting channel for employees, suppliers, distributors and the public in 2024.[3]
  • 10 UN Global Compact principles were covered by TK Elevator’s responsible-business commitment as a signatory.[1]
  • 87% of KONE supplier spending in 2024 was with partners signing its Supplier Code of Conduct or equivalent.[29]
  • Zero child-labor or forced-labor incidents were reported through KONE compliance channels in 2024.[29]
  • One Global Subcontractor Safety Development Program was initiated by KONE in 2024 to standardize subcontractor safety-management practices.[3]

CSR in the elevator industry

  • 25,000 service technicians worked for TK Elevator globally in fiscal 2025.[1]
  • 50,000 employees worked for TK Elevator globally in fiscal 2025.[1]
  • 72,000 colleagues worked at Otis globally in 2024.[25]

Circular economy in the elevator industry

  • Six new Environmental Product Declarations were published by KONE in 2024.[3]
  • 90% of the metals used in KONE products are recoverable at end of life.[3]
  • One permanent-magnet motor recycling network for elevator modernization replacements began operating in Japan in 2025.[61]
  • 80% of materials used in Schindler 3000 elevators can be recycled.[62]
  • 410,740 kg was Hyundai Elevator’s total waste generation in 2024.[2]

Carbon footprint in the elevator industry

  • 138.63 kgCO2 was attributed to transportation of the pit module in a published elevator life-cycle study.[63]
  • 42% is Schindler’s target for reducing value-chain Scope 3 emissions by 2030 from its 2020 baseline.[24]
  • 50% is Schindler’s target for reducing operational Scope 1 and 2 emissions by 2030 from its 2020 baseline.[24]
  • 70% of Schindler’s value-chain Scope 3 emissions came from use of sold products in 2024.[24]
  • 97.81% of the Jfuji elevator’s 2024 cradle-to-gate footprint came from raw-material acquisition.[64]

15 Statistics

Globalization & Expansion

Regional footprint and cross-border service scale remain key, including KONE generating €11.2 billion in annual sales across close to 70 countries in 2025.

Globalization in the elevator industry

  • More than 69,000 employees formed Schindler’s global workforce in 2024.[24]
  • KONE generated €11.2 billion in annual sales and employed more than 60,000 people across close to 70 countries in 2025.[3]
  • Approximately 1,400 patent families and 7,500 active patents and patent applications supported Schindler’s worldwide technology base in 2024.[24]
  • Eight countries hosted Schindler production sites for elevator and escalator manufacturing and final assembly in 2024.[24]
  • 1.8 million elevator and escalator units were in KONE’s global service base at the end of 2025.[3]

Cultural adaptation in the elevator industry

  • 27,524 Schindler employees were located in Asia-Pacific in 2025.[24]
  • 41% of Schindler’s workforce was located in Asia-Pacific in 2025.[24]
  • 13,949 Schindler employees were located in the Americas in 2025.[24]
  • 6% of KONE’s sales came from France in 2025.[3]
  • 38% of Schindler’s workforce was located in Europe, the Middle East and Africa in 2025.[24]

Supplier management in the elevator industry

  • 90% of KONE’s total supplier and installation-subcontractor spending is targeted for coverage by its Supplier Code of Conduct by 2030, compared with 89% in 2025.[3]
  • 99% of TK Elevator’s Focus suppliers had coverage for general sustainability topics in fiscal 2023/24.[1]
  • More than 45,000 suppliers, including subcontractors, worked with Schindler in 2024.[24]
  • 71% of TK Elevator’s high-impact suppliers had completed a 360°plus assessment in fiscal 2023/24.[1]
  • 97% of TK Elevator’s Focus suppliers had coverage for conflict-minerals and carbon-footprint topics in fiscal 2023/24.[1]

Stakeholder management in the elevator industry

  • 8.5 years was TK Elevator employees’ average tenure in the Americas in fiscal 2023/24.[1]
  • 9 stakeholder groups were identified by TK Elevator in its fiscal 2023/24 stakeholder-engagement framework.[1]
  • 34,000 field professionals worked for Otis worldwide in 2024.[5]
  • 8.4% was TK Elevator’s overall voluntary employee turnover rate in fiscal 2023/24.[1]
  • 6.0% was TK Elevator’s voluntary employee turnover rate in Europe and Africa in fiscal 2023/24.[1]

Distribution channels in the elevator industry

  • 11 manufacturing facilities formed Fujitec’s international production network, according to its corporate profile.[78]
  • More than 40 overseas public-transportation projects had been undertaken by Canny Elevator by 2024.[79]
  • 2.4 million customer units were maintained by Otis worldwide in 2024.[5]
  • TK Elevator operated about 1,000 sales and service support centres worldwide in 2026.[29]
  • 49 countries were served by Hyundai Elevator agents, according to the company’s published corporate profile.[80]

Key questions about the Elevator Industry

How large is the global elevator market in 2025?
The global elevator market was worth approximately $110 billion in 2025, with Roland Berger estimating the same figure and Grand View Research using a narrower elevators-only scope.
What growth rate should we expect after 2025?
Roland Berger forecasts growth from $110 billion in 2025 to $133 billion in 2030, about a 4% CAGR. Grand View Research forecasts the elevators market to reach $136.9 billion by 2033 from $86.3 billion in 2026, a 6.8% CAGR.
Which companies lead the elevator industry?
Hyundai Elevator stands out for elevator technology execution because its deep-learning fault-diagnosis system was registered in August 2024, while Hitachi focuses on elevators for homes and small-scale buildings since it develops, manufactures, sells and installs elevators for those segments.
How is technology changing maintenance and fault detection?
KONE reports 61% first-time-fix for connected equipment using predictive maintenance and says 80% of elevator failures can be identified before they happen. Hyundai also registered a recurrent-neural-network fault-diagnosis system to shorten maintenance time.
Why does the market structure tilt toward service and modernization?
Roland Berger identifies maintenance as the largest business line and modernization as the fastest-growing at about 7% CAGR. This also aligns with the trend that installed equipment aging raises the importance of service and modernization.
What role does connectivity play in operational outcomes?
KONE reports a 61% first-time-fix rate for connected units in the USA and Canada and an average interval between failures of 119 days over a 12-month period. Otis also provides a digital infrastructure with 1.1 million connected units globally in 2025.
Reference

Cite This Report

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APA
Alexander Schmidt. (2026, February 27). Elevator Industry Statistics. Gitnux. https://gitnux.org/elevator-industry-statistics
MLA
Alexander Schmidt. "Elevator Industry Statistics." Gitnux, 27 Feb 2026, https://gitnux.org/elevator-industry-statistics.
Chicago
Alexander Schmidt. 2026. "Elevator Industry Statistics." Gitnux. https://gitnux.org/elevator-industry-statistics.

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