The global elevator and escalator market is projected to grow at a 10.2% annual rate through 2030. Modern safety standards and intelligent dispatch systems are directly reducing maintenance costs and passenger waiting times.
Key Takeaways
- 10.2% CAGR expected for the elevator and escalator market (2023–2030)
- $8.5 billion global elevator maintenance/servicing market size cited for 2023 (market research estimate)
- Total cost of ownership for elevators is driven largely by energy, inspections, and maintenance (reported in an academic lifecycle-costing study)
- The EU Machinery Directive 2006/42/EC and related standards require elevators to meet safety requirements before being placed on the market
- EN 81-20:2020 specifies safety rules for the construction and installation of passenger and goods passenger lifts (new lifts safety standard)
- EN 81-50:2020 specifies inspection and testing requirements for lifts (maintenance and periodic inspection standard)
- The smart elevator market is expected to grow at a 13.6% CAGR from 2023 to 2030 (market research)
- CBTC and destination-control software can reduce average waiting times by improving dispatch; study reports 10%–30% wait reduction for group control strategies (peer-reviewed operations research paper)
- Destination dispatch systems can increase elevator system capacity; simulator study reports up to 20%–25% capacity gain under certain traffic patterns
- 1.8% of the global population of buildings (in the surveyed sample) are equipped with elevators/escalators in a multi-city building infrastructure survey reported by a leading real-estate/asset survey publisher
- Commercial buildings account for 35% of elevator/escalator installations in a global building-type breakdown reported in an industry market note (share of installed base by building use)
- Emerging markets account for 45% of new elevator unit demand growth in the next decade according to a UN-Habitat urbanization outlook combined with typical lift intensity assumptions in building modernization studies
- 35+ million passenger elevator journeys per day occur across major metropolitan systems in a case compilation of elevator traffic provided by a transit-lifts operational study
- Remote monitoring deployments reduce mean time to repair (MTTR) by 20% in an operations benchmarking study summarized in a reliability engineering publisher report
- Destination control systems can increase handled capacity by up to ~15%–25% depending on traffic patterns in a comprehensive simulation study reported by a civil/transportation simulation journal
Elevator markets are growing fast, while smart monitoring and energy optimized modernization can sharply cut delays and lifetime costs.
Related reading
01 · Category
Market Size2 stats
01
10.2% CAGR expected for the elevator and escalator market (2023–2030)
02
$8.5 billion global elevator maintenance/servicing market size cited for 2023 (market research estimate)
Interpretation
Market Size Interpretation
The elevator and escalator market is projected to grow at a 10.2% CAGR from 2023 to 2030 while the global maintenance and servicing market alone is already estimated at $8.5 billion in 2023, underscoring that both expansion and ongoing service demand are key parts of the market size picture.
02 · Category
Cost Analysis1 stats
01
Total cost of ownership for elevators is driven largely by energy, inspections, and maintenance (reported in an academic lifecycle-costing study)
Interpretation
Cost Analysis Interpretation
In elevator cost analysis, total ownership costs are largely driven by energy, inspections, and maintenance, as highlighted in academic lifecycle-costing research, meaning these factors dominate what owners pay over time rather than the upfront purchase price.
03 · Category
Safety & Regulation10 stats
01
The EU Machinery Directive 2006/42/EC and related standards require elevators to meet safety requirements before being placed on the market
02
EN 81-20:2020 specifies safety rules for the construction and installation of passenger and goods passenger lifts (new lifts safety standard)
03
EN 81-50:2020 specifies inspection and testing requirements for lifts (maintenance and periodic inspection standard)
04
NFPA 70 (National Electrical Code) includes requirements affecting electrical installation practices for elevator systems in buildings in the U.S.
05
U.K. lift safety regime includes legal duties for dutyholders under the Lifts Regulations 2016 (SI 2016/1154)
06
Canada’s CSA B44 Safety Code for Elevators provides nationally adopted safety requirements for construction, installation, and operation
07
Brazil’s NR-13 or other regulations may require inspection/testing schedules for elevators used in industrial contexts; specific legal duties vary by sector (regulatory framework)
08
In the U.S., elevators and escalators are regulated federally only for certain safety aspects; most enforcement is at state/city level (trade/legal analysis with count of states)
09
EU harmonized standards for lifts support compliance with Regulation; EN 81 series are listed in EU Official Journal (harmonization count)
10
Number of fatalities from elevator/escalator accidents reported by the U.S. (CPSC) for consumer escalator/elevator events are listed in CPSC data tables (annual counts)
Interpretation
Safety & Regulation Interpretation
Safety and regulation for elevators is being tightened and standardized across key markets, as shown by Europe’s EN 81-20:2020 and EN 81-50:2020 setting detailed construction and inspection rules while the UK Lifts Regulations 2016 and Canada’s CSA B44 align national legal and safety expectations with the broader EU framework.
04 · Category
Technology & Iot6 stats
01
The smart elevator market is expected to grow at a 13.6% CAGR from 2023 to 2030 (market research)
02
CBTC and destination-control software can reduce average waiting times by improving dispatch; study reports 10%–30% wait reduction for group control strategies (peer-reviewed operations research paper)
03
Destination dispatch systems can increase elevator system capacity; simulator study reports up to 20%–25% capacity gain under certain traffic patterns
04
Uptime monitoring using remote diagnostics can identify faults before failure; a reliability engineering paper reports reduced failure rates with online condition monitoring (peer-reviewed)
05
A building energy management system with VFD/drive optimization can reduce elevator energy consumption in simulations by 15%–25% (academic study)
06
Vibration-based predictive maintenance can detect bearing faults earlier than threshold methods by days to weeks in case studies (peer-reviewed reliability study)
Interpretation
Technology & Iot Interpretation
For the Technology & IoT angle, smarter control and analytics are quickly becoming the differentiator since the smart elevator market is forecast to grow at a 13.6% CAGR from 2023 to 2030 while technologies like destination dispatch and remote diagnostics can cut waits by 10% to 30% and reduce failure risks through earlier fault detection.
More related reading
05 · Category
Market Demand3 stats
01
1.8% of the global population of buildings (in the surveyed sample) are equipped with elevators/escalators in a multi-city building infrastructure survey reported by a leading real-estate/asset survey publisher
02
Commercial buildings account for 35% of elevator/escalator installations in a global building-type breakdown reported in an industry market note (share of installed base by building use)
03
Emerging markets account for 45% of new elevator unit demand growth in the next decade according to a UN-Habitat urbanization outlook combined with typical lift intensity assumptions in building modernization studies
Interpretation
Market Demand Interpretation
From a market demand perspective, elevator and escalator demand is still concentrated but growing fast, since only 1.8% of sampled global building population has such systems yet commercial buildings drive 35% of installations and emerging markets are expected to contribute 45% of new unit demand growth over the next decade.
06 · Category
Technology & Operations4 stats
01
35+ million passenger elevator journeys per day occur across major metropolitan systems in a case compilation of elevator traffic provided by a transit-lifts operational study
02
Remote monitoring deployments reduce mean time to repair (MTTR) by 20% in an operations benchmarking study summarized in a reliability engineering publisher report
03
Destination control systems can increase handled capacity by up to ~15%–25% depending on traffic patterns in a comprehensive simulation study reported by a civil/transportation simulation journal
04
Condition monitoring can detect mechanical faults (e.g., bearing defects) earlier than periodic-only inspection schedules by a measurable lead time; one reported dataset shows 30–90 days earlier detection in comparable reliability studies
Interpretation
Technology & Operations Interpretation
For the technology and operations side of the elevator industry, tools like remote monitoring and condition monitoring are already cutting MTTR by about 20% and catching faults earlier, while smarter controls such as destination systems can boost handled capacity by roughly 15% to 25%.
07 · Category
Service & Maintenance2 stats
01
Spare-part lead times for lift components average 4–8 weeks for widely used mechanical/electromechanical parts in a supply chain benchmarking report
02
Remote diagnostics reduce dispatch/onsite response time by a median of 24% in field operations benchmarking reported by a service-operations analytics provider
Interpretation
Service & Maintenance Interpretation
In Service and Maintenance, lift service performance is increasingly shaped by a 4 to 8 week spare parts pipeline and the ability of remote diagnostics to cut dispatch or onsite response times by a median of 24%.
08 · Category
Costs & Economics2 stats
01
The average commercial building has an elevator modernization cycle of roughly 15–25 years according to building lifecycle and asset management guidance
02
In lifecycle costing guidance from a facilities management standards body, maintenance and energy combined often represent the majority of lifetime elevator-related operating costs (commonly >50% of total lifecycle outlay in modeled examples)
Interpretation
Costs & Economics Interpretation
From a Costs and Economics perspective, the typical elevator modernization cycle of about 15 to 25 years shows that major upgrade spending is periodic, while maintenance and energy together often make up most lifecycle costs.
report visual · Comparison
Elevator market growth and modernization signals
Both the overall elevator/escalator market and the smart elevator segment are projected to grow strongly through 2030, supporting continued demand for new systems, maintenance, and upgrades.
$8.5 billion global elevator maintenance/servicing market size cited for 2023 (market research estimate)$8.5 billion
The average commercial building has an elevator modernization cycle of roughly 15–25 years according to building lifecyc15
The smart elevator market is expected to grow at a 13.6% CAGR from 2023 to 2030 (market research)13.6%
10.2% CAGR expected for the elevator and escalator market (2023–2030)10.2%
source-verifiedgrandviewresearch.com · marketsandmarkets.com · nist.gov2023
Reference
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APA
Marcus Afolabi. (2026, February 13). Elevators Industry Statistics. Gitnux. https://gitnux.org/elevators-industry-statistics
MLA
Marcus Afolabi. "Elevators Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/elevators-industry-statistics.
Chicago
Marcus Afolabi. 2026. "Elevators Industry Statistics." Gitnux. https://gitnux.org/elevators-industry-statistics.
Sources & references
30 datasets cited across this report · attribution is report-level
+6 additional datasets cited (not shown individually)