Latest Update: Impact of current COVID-19 situation has been considered in this report while making the analysis.
Global Gearless Traction Elevators Market by Type (Medium Speed, High Speed), By Application (Commercial, Household) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030-report

Global Gearless Traction Elevators Market by Type (Medium Speed, High Speed), By Application (Commercial, Household) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

Report ID: 166391 3300 Machinery & Equipment 377 242 Pages 4.6 (48)

Market Overview:

The global gearless traction elevators market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for energy-efficient and low-noise elevators, especially in commercial and household applications. Gearless traction elevators are becoming increasingly popular due to their high efficiency and low noise levels as compared to traditional geared traction elevators. Additionally, the growing construction industry is also contributing significantly towards the growth of this market. The global gearless traction elevator market can be segmented on the basis of type into medium speed and high speed gearless traction elevators. The medium speed gearless traction elevator segment is expected to account for a larger share of the global market than the high speed gearless traction elevator segment during the forecast period from 2018 to 2030.

Global Gearless Traction Elevators Industry Outlook

Product Definition:

Gearless traction elevators are a type of elevator that relies on electric motors to move the car and counterweight up and down the shaft, rather than gears. Gearless traction elevators are typically found in high-rise buildings, as they can handle heavier loads and travel at faster speeds than traditional gear-driven elevators.

Medium Speed:

Medium speed is the gearless traction elevator operating at a speed of up to 0.75 m/s.

High Speed:

High speed is defined as the maximum speed at which a machine can operate without any external forces affecting its movement. In gearless traction elevators, high speed is achieved by using a toothed disc instead of chains or cables for transmitting power to drive the car. High-speed gears are used in such elevators because they reduce friction and allow cars to move faster with less energy consumption.

Application Insights:

The commercial application segment held the largest share of over 70.0% in 2017. The rising number of office buildings, shopping malls and hotels is expected to be a key factor for market growth over the forecast period. Gearless traction elevators are widely used in high rise buildings as they provide easy access to different floors thereby reducing the dwell time which results in increased operational efficiency. Moreover, these gearless traction elevators do not require any separate power source as they are powered by electric motors through direct contact with steel cables running through strong pulley systems installed at each floor level, this eliminates the need for an external power source and reduces installation cost thus making them ideal for large scale construction projects such as Office Park L¢â‚¬â„¢Ornano (France), Rockcliffe Lands (Canada) and Library Square (China).

Regional Analysis:

North America dominated the global market in terms of revenue share in 2017. The region is expected to continue its dominance over the forecast period owing to growing demand for technologically advanced products with enhanced safety features. Moreover, presence of a large number of manufacturers and suppliers coupled with high standardization and quality standards is also likely to propel regional growth over the next eight years.

Asia Pacific is anticipated to witness significant growth during the forecast period owing to rapid development witnessed in commercial and residential sectors especially across countries such as China, India, Japan, South Korea & Taiwan. In addition, rising awareness regarding elevator usage among people living alone or small families will drive regional product demand further highlighting an upward trend on Gearless traction elevators market’s future growth path.

Growth Factors:

  • Gearless traction elevators are more energy efficient and consume less power as compared to geared traction elevators, making them an attractive option for buildings with limited power supply or those looking to reduce their carbon footprint.
  • Gearless traction elevators offer a much smoother ride than geared models, making them a popular choice for luxury high-rise buildings and hospitals.
  • Gearless traction elevators are easier to maintain and have a longer lifespan than geared models, resulting in lower long-term costs for building owners and operators.
  • The growing popularity of green construction methods has led to an increase in the demand for gearless traction elevators, as these systems are considered more environmentally friendly than traditional elevator systems.

Scope Of The Report

Report Attributes

Report Details

Report Title

Gearless Traction Elevators Market Research Report

By Type

Medium Speed, High Speed

By Application

Commercial, Household

By Companies

Kone, Otis, Monadrive, SANEI Elevator, ThyssenKrupp, Mitsubishi, Hitachi, Cibes, Torin Drive, HOSTING, Schindler, FUJITEC

Regions Covered

North America, Europe, APAC, Latin America, MEA

Base Year


Historical Year

2019 to 2020 (Data from 2010 can be provided as per availability)

Forecast Year


Number of Pages


Number of Tables & Figures


Customization Available

Yes, the report can be customized as per your need.

Global Gearless Traction Elevators Market Report Segments:

The global Gearless Traction Elevators market is segmented on the basis of:


Medium Speed, High Speed

The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.


Commercial, Household

The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.

Some of the companies that are profiled in this report are:

  1. Kone
  2. Otis
  3. Monadrive
  4. SANEI Elevator
  5. ThyssenKrupp
  6. Mitsubishi
  7. Hitachi
  8. Cibes
  9. Torin Drive
  11. Schindler

Global Gearless Traction Elevators Market Overview

Highlights of The Gearless Traction Elevators Market Report:

  1. The market structure and projections for the coming years.
  2. Drivers, restraints, opportunities, and current trends of market.
  3. Historical data and forecast.
  4. Estimations for the forecast period 2030.
  5. Developments and trends in the market.
  6. By Type:

    1. Medium Speed
    2. High Speed
  1. By Application:

    1. Commercial
    2. Household
  1. Market scenario by region, sub-region, and country.
  2. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
  3. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
  4. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Gearless Traction Elevators Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.

Regional Analysis

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • Latin America

Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.

The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.

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Global Gearless Traction Elevators Market Statistics

8 Reasons to Buy This Report

  1. Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
  2. Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
  3. Implemented Robust Methodology to Prepare the Report
  4. Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
  5. Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
  6. Provides Information About the Top-winning Strategies Implemented by Industry Players.
  7. In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
  8. Customization of the Report Available

Frequently Asked Questions?

Gearless traction elevators are a type of elevator that does not use any moving parts other than the cables that suspend it. This makes them very efficient and reliable, as there is no need for gears or other mechanisms to operate the elevator. Gearless traction elevators are typically used in high-rise buildings, where they can provide a more efficient means of transporting people and goods up and down the building

Some of the key players operating in the gearless traction elevators market are Kone, Otis, Monadrive, SANEI Elevator, ThyssenKrupp, Mitsubishi, Hitachi, Cibes, Torin Drive, HOSTING, Schindler, FUJITEC.

The gearless traction elevators market is expected to register a CAGR of 5.5%.

1. Executive Summary

2. Assumptions and Acronyms Used

3. Research Methodology

4. Gearless Traction Elevators Market Overview
   4.1. Introduction
      4.1.1. Market Taxonomy
      4.1.2. Market Definition
   4.2. Macro-Economic Factors
      4.2.1. Industry Outlook
   4.3. Gearless Traction Elevators Market Dynamics
      4.3.1. Market Drivers
      4.3.2. Market Restraints
      4.3.3. Opportunity
      4.3.4. Market Trends
   4.4. Gearless Traction Elevators Market - Supply Chain
   4.5. Global Gearless Traction Elevators Market Forecast
      4.5.1. Gearless Traction Elevators Market Size (US$ Mn) and Y-o-Y Growth
      4.5.2. Gearless Traction Elevators Market Size (000’ Units) and Y-o-Y Growth
      4.5.3. Gearless Traction Elevators Market Absolute $ Opportunity

5. Global Gearless Traction Elevators Market Analysis and Forecast by Type
   5.1. Market Trends
   5.2. Introduction
      5.2.1. Basis Point Share (BPS) Analysis by Type
      5.2.2. Y-o-Y Growth Projections by Type
   5.3. Gearless Traction Elevators Market Size and Volume Forecast by Type
      5.3.1. Medium Speed
      5.3.2. High Speed
   5.4. Absolute $ Opportunity Assessment by Type
   5.5. Market Attractiveness/Growth Potential Analysis by Type

6. Global Gearless Traction Elevators Market Analysis and Forecast by Application
   6.1. Market Trends
   6.2. Introduction
      6.2.1. Basis Point Share (BPS) Analysis by Application
      6.2.2. Y-o-Y Growth Projections by Application
   6.3. Gearless Traction Elevators Market Size and Volume Forecast by Application
      6.3.1. Commercial
      6.3.2. Household
   6.4. Absolute $ Opportunity Assessment by Application
   6.5. Market Attractiveness/Growth Potential Analysis by Application

7. Global Gearless Traction Elevators Market Analysis and Forecast by Sales Channel
   7.1. Market Trends
   7.2. Introduction
      7.2.1. Basis Point Share (BPS) Analysis by Sales Channel 
      7.2.2. Y-o-Y Growth Projections by Sales Channel
   7.3. Gearless Traction Elevators Market Size and Volume Forecast by Sales Channel 
      7.3.1. Manufacturer/Distributor/Service Provider
      7.3.2. Aftermarket
   7.4. Absolute $ Opportunity Assessment by Sales Channel
   7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel

8. Global Gearless Traction Elevators Market Analysis and Forecast by Region
   8.1. Market Trends
   8.2. Introduction
      8.2.1. Basis Point Share (BPS) Analysis by Region
      8.2.2. Y-o-Y Growth Projections by Region
   8.3. Gearless Traction Elevators Market Size and Volume Forecast by Region
      8.3.1. North America
      8.3.2. Latin America
      8.3.3. Europe
      8.3.4. Asia Pacific
      8.3.5. Middle East and Africa (MEA)
   8.4. Absolute $ Opportunity Assessment by Region
   8.5. Market Attractiveness/Growth Potential Analysis by Region
   8.6. Global Gearless Traction Elevators Demand Share Forecast, 2019-2026

9. North America Gearless Traction Elevators Market Analysis and Forecast
   9.1. Introduction
      9.1.1. Basis Point Share (BPS) Analysis by Country
      9.1.2. Y-o-Y Growth Projections by Country
   9.2. North America Gearless Traction Elevators Market Size and Volume Forecast by Country
      9.2.1. U.S.
      9.2.2. Canada
   9.3. Absolute $ Opportunity Assessment by Country
   9.4. North America Gearless Traction Elevators Market Size and Volume Forecast by Application
      9.4.1. Commercial
      9.4.2. Household
   9.5. Basis Point Share (BPS) Analysis by Application
   9.6. Y-o-Y Growth Projections by Application
   9.7. North America Gearless Traction Elevators Market Size and Volume Forecast by Type
      9.7.1. Medium Speed
      9.7.2. High Speed
   9.8. Basis Point Share (BPS) Analysis by Type
   9.9. Y-o-Y Growth Projections by Type
   9.10. Market Attractiveness/Growth Potential Analysis
      9.10.1. By Country
      9.10.2. By Product Type
      9.10.3. By Application
      9.10.4. By Sales Channel
   9.11. North America Gearless Traction Elevators Demand Share Forecast, 2019-2026

10. Latin America Gearless Traction Elevators Market Analysis and Forecast
   10.1. Introduction
      10.1.1. Basis Point Share (BPS) Analysis by Country
      10.1.2. Y-o-Y Growth Projections by Country
      10.1.3. Latin America Average Pricing Analysis
   10.2. Latin America Gearless Traction Elevators Market Size and Volume Forecast by Country
      10.2.1. Brazil
      10.2.2. Mexico
      10.2.3. Rest of Latin America
   10.3. Absolute $ Opportunity Assessment by Country
   10.4. Latin America Gearless Traction Elevators Market Size and Volume Forecast by Application
      10.4.1. Commercial
      10.4.2. Household
   10.5. Basis Point Share (BPS) Analysis by Application
   10.6. Y-o-Y Growth Projections by Application
   10.7. Latin America Gearless Traction Elevators Market Size and Volume Forecast by Type
      10.7.1. Medium Speed
      10.7.2. High Speed
   10.8. Basis Point Share (BPS) Analysis by Type
   10.9. Y-o-Y Growth Projections by Type
   10.10. Market Attractiveness/Growth Potential Analysis
      10.10.1. By Country
      10.10.2. By Product Type
      10.10.3. By Application
      10.10.4. By Sales Channel
   10.11. Latin America Gearless Traction Elevators Demand Share Forecast, 2019-2026

11. Europe Gearless Traction Elevators Market Analysis and Forecast
   11.1. Introduction
      11.1.1. Basis Point Share (BPS) Analysis by Country
      11.1.2. Y-o-Y Growth Projections by Country
      11.1.3. Europe Average Pricing Analysis
   11.2. Europe Gearless Traction Elevators Market Size and Volume Forecast by Country
      11.2.1. Germany
      11.2.2. France
      11.2.3. Italy
      11.2.4. U.K.
      11.2.5. Spain
      11.2.6. Russia
      11.2.7. Rest of Europe
   11.3. Absolute $ Opportunity Assessment by Country
   11.4. Europe Gearless Traction Elevators Market Size and Volume Forecast by Application
      11.4.1. Commercial
      11.4.2. Household
   11.5. Basis Point Share (BPS) Analysis by Application
   11.6. Y-o-Y Growth Projections by Application
   11.7. Europe Gearless Traction Elevators Market Size and Volume Forecast by Type
      11.7.1. Medium Speed
      11.7.2. High Speed
   11.8. Basis Point Share (BPS) Analysis by Type
   11.9. Y-oY Growth Projections by Type
   11.10. Market Attractiveness/Growth Potential Analysis
      11.10.1. By Country
      11.10.2. By Product Type
      11.10.3. By Application
      11.10.4. By Sales Channel
   11.11. Europe Gearless Traction Elevators Demand Share, 2019-2026

12. Asia Pacific Gearless Traction Elevators Market Analysis and Forecast
   12.1. Introduction
      12.1.1. Basis Point Share (BPS) Analysis by Country
      12.1.2. Y-o-Y Growth Projections by Country
      12.1.3. Asia Pacific Average Pricing Analysis
   12.2. Asia Pacific Gearless Traction Elevators Market Size and Volume Forecast by Country
      12.2.1. China
      12.2.2. Japan
      12.2.3. South Korea
      12.2.4. India
      12.2.5. Australia
      12.2.6. Rest of Asia Pacific (APAC)
   12.3. Absolute $ Opportunity Assessment by Country
   12.4. Asia Pacific Gearless Traction Elevators Market Size and Volume Forecast by Application
      12.4.1. Commercial
      12.4.2. Household
   12.5. Basis Point Share (BPS) Analysis by Application
   12.6. Y-o-Y Growth Projections by Application
   12.7. Asia Pacific Gearless Traction Elevators Market Size and Volume Forecast by Type
      12.7.1. Medium Speed
      12.7.2. High Speed
   12.8. Basis Point Share (BPS) Analysis by Type
   12.9. Y-o-Y Growth Projections by Type
   12.10. Market Attractiveness/Growth Potential Analysis
      12.10.1. By Country
      12.10.2. By Product Type
      12.10.3. By Application
      12.10.4. By Sales Channel
   12.11. Asia Pacific Gearless Traction Elevators Demand Share, 2019-2026

13. Middle East & Africa Gearless Traction Elevators Market Analysis and Forecast
   13.1. Introduction
      13.1.1. Basis Point Share (BPS) Analysis by Country
      13.1.2. Y-o-Y Growth Projections by Country
      13.1.3. Asia Pacific Average Pricing Analysis
   13.2. Middle East & Africa Gearless Traction Elevators Market Size and Volume Forecast by Country
      13.2.1. Saudi Arabia
      13.2.2. South Africa
      13.2.3. UAE
      13.2.4. Rest of Middle East & Africa (MEA)
   13.3. Absolute $ Opportunity Assessment by Country
   13.4. Middle East & Africa Gearless Traction Elevators Market Size and Volume Forecast by Application
      13.4.1. Commercial
      13.4.2. Household
   13.5. Basis Point Share (BPS) Analysis by Application
   13.6. Y-o-Y Growth Projections by Application
   13.7. Middle East & Africa Gearless Traction Elevators Market Size and Volume Forecast by Type
      13.7.1. Medium Speed
      13.7.2. High Speed
   13.8. Basis Point Share (BPS) Analysis by Type
   13.9. Y-o-Y Growth Projections by Type
   13.10. Market Attractiveness/Growth Potential Analysis
      13.10.1. By Country
      13.10.2. By Product Type
      13.10.3. By Application
      13.10.4. By Sales Channel
   13.11. Middle East & Africa Gearless Traction Elevators Demand Share, 2019-2026

14. Competition Landscape
   14.1. Global Gearless Traction Elevators Market: Market Share Analysis
   14.2. Gearless Traction Elevators Distributors and Customers
   14.3. Gearless Traction Elevators Market: Competitive Dashboard
   14.4. Company Profiles (Details – Overview, Financials, Developments, Strategy) 
      14.4.1. Kone Overview Financials Developments Strategic Outlook
      14.4.2. Otis Overview Financials Developments Strategic Outlook
      14.4.3. Monadrive Overview Financials Developments Strategic Outlook
      14.4.4. SANEI Elevator Overview Financials Developments Strategic Outlook
      14.4.5. ThyssenKrupp Overview Financials Developments Strategic Outlook
      14.4.6. Mitsubishi Overview Financials Developments Strategic Outlook
      14.4.7. Hitachi Overview Financials Developments Strategic Outlook
      14.4.8. Cibes Overview Financials Developments Strategic Outlook
      14.4.9. Torin Drive Overview Financials Developments Strategic Outlook
      14.4.10. HOSTING Overview Financials Developments Strategic Outlook
      14.4.11. Schindler Overview Financials Developments Strategic Outlook
      14.4.12. FUJITEC Overview Financials Developments Strategic Outlook
      14.4.13. COMPANY 13 Overview Financials Developments Strategic Outlook
      14.4.14. COMPANY 14 Overview Financials Developments Strategic Outlook
      14.4.15. COMPANY 15 Overview Financials Developments Strategic Outlook
      14.4.16. COMPANY 16 Overview Financials Developments Strategic Outlook
      14.4.17. COMPANY 17 Overview Financials Developments Strategic Outlook
      14.4.18. COMPANY 18 Overview Financials Developments Strategic Outlook
      14.4.19. COMPANY 19 Overview Financials Developments Strategic Outlook
      14.4.20. COMPANY 20 Overview Financials Developments Strategic Outlook

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