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

Global High-rise Elevators Market by Type (Freight Elevator, Passenger Elevator), By Application (Residential, Commercial) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

Report ID: 157629 3300 Machinery & Equipment 377 233 Pages 4.6 (47)

Market Overview:

The global high-rise 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 high-rise elevators in residential and commercial applications. Additionally, the growing urbanization and rising disposable income are also contributing to the growth of this market. The passenger elevator segment is expected to hold a major share of the global high-rise elevators market during the forecast period. This segment is driven by factors such as an increase in construction activities for residential and commercial buildings, and an increase in demand for luxury apartments and office spaces.

Global High-rise Elevators Industry Outlook

Product Definition:

A high-rise elevator is an elevator that is used in a high-rise building, which is a building with many stories. High-rise elevators are important because they allow people to travel between the different floors of the building quickly and easily.

Freight Elevator:

Freight elevator is a type of vertical transportation device used to carry heavy loads at a faster rate. It is mainly used in multi-story residential and commercial buildings, but it can also be found in some high-rise buildings that have smaller floorspace. The growth factor for freight elevators market depends on various factors such as the demand for bulk goods, rapid urbanization & industrialization, population explosion and increase in construction activities.

Passenger Elevator:

The passenger elevator is a type of vertical transportation used to transport passengers between the lower and upper levels in a building. Passenger elevators are widely used for vertical transportation in commercial, residential, and industrial buildings. They are also used to provide access from one floor of a building to another via multiple floors within the same structure. The passenger elevator system can be composed of one or more elevators which may or may not be traction powered depending on its application.

Application Insights:

The commercial segment dominated the global high-rise elevators market in 2017, accounting for over 60.0% share of the total revenue. The residential segment is expected to witness significant growth over the forecast period owing to increasing construction activities in high rise buildings across various regions, including Asia Pacific and Middle East & Africa.

High-rise buildings are considered as a reliable and cost-effective solution for deploying elevators in large number as compared to low-rise buildings due to increased floor space requirements per unit area (FSR). FSR increases with height thus providing an opportunity for high rise building applications. Furthermore, stringent regulations regarding building safety across various countries will boost product demand from 2018 to 2030.

Regional Analysis:

Asia Pacific dominated the global high-rise elevator market in 2016 with a revenue share of over 40%. The region is expected to continue its dominance over the forecast period. This can be attributed to increasing construction activities in countries, such as China and India. In addition, rapid urbanization and growing population are likely to drive demand for elevators across this region.

The Asia Pacific was followed by North America with a total revenue share of 23% in 2016 owing to increased focus on constructing commercial buildings especially hotels by the U.S government as part of efforts towards economic recovery from recession from 2009 To 2013 which boosted sales volume for passenger elevators across this region during the same period; however, sluggish growth is anticipated for these products due to lack of maintenance and low replacement rates which will hinder industry expansion over the next eight years.

Growth Factors:

  • Increasing demand for high-rise buildings: The global population is increasingly moving to cities, leading to the development of more high-rise buildings. This is driving the demand for elevators, as these structures require them for vertical transportation.
  • Growing urbanization in developing countries: A large portion of the world’s population is now living in developing countries, which are experiencing rapid urbanization. This is fueling the demand for high-rise elevators, as these structures are becoming increasingly common in these regions.
  • Technological advancements: Elevator technology is constantly evolving, with new features and capabilities being developed all the time. This is helping to drive growth in the High-rise Elevators market by making elevators more efficient and user-friendly.
  • Rising income levels: As incomes rise around the world, people are able to afford more luxurious lifestyles that include amenities such as high-end elevators installed in their homes or offices..This is helping to spur growth in th High-rise Elevators market .5

Scope Of The Report

Report Attributes

Report Details

Report Title

High-rise Elevators Market Research Report

By Type

Freight Elevator, Passenger Elevator

By Application

Residential, Commercial

By Companies

Otis, Schindler Group, ThyssenKrupp, Kone, Mitsubishi Electric, Toshiba, Hitachi, Fujitec, Hyundai, Yungtay Engineering, Canny Elevator, Volkslift, Syney Elevator, Sicher Elevator, SJEC, Guangri Elevator, Hangzhou XiOlift, Edunburgh Elevator, Suzhou Diao, CNYD, Meilun Elevator, IFE Elevators, Joylive Elevator, Dongnan Elevator

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 High-rise Elevators Market Report Segments:

The global High-rise Elevators market is segmented on the basis of:


Freight Elevator, Passenger Elevator

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.


Residential, Commercial

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. Otis
  2. Schindler Group
  3. ThyssenKrupp
  4. Kone
  5. Mitsubishi Electric
  6. Toshiba
  7. Hitachi
  8. Fujitec
  9. Hyundai
  10. Yungtay Engineering
  11. Canny Elevator
  12. Volkslift
  13. Syney Elevator
  14. Sicher Elevator
  15. SJEC
  16. Guangri Elevator
  17. Hangzhou XiOlift
  18. Edunburgh Elevator
  19. Suzhou Diao
  20. CNYD
  21. Meilun Elevator
  22. IFE Elevators
  23. Joylive Elevator
  24. Dongnan Elevator

Global High-rise Elevators Market Overview

Highlights of The High-rise 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. Freight Elevator
    2. Passenger Elevator
  1. By Application:

    1. Residential
    2. Commercial
  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 High-rise 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 High-rise 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?

High-rise elevators are a type of elevator that travels up and down in tall buildings. They are typically used to move people between different floors in a building.

Some of the major players in the high-rise elevators market are Otis, Schindler Group, ThyssenKrupp, Kone, Mitsubishi Electric, Toshiba, Hitachi, Fujitec, Hyundai, Yungtay Engineering, Canny Elevator, Volkslift, Syney Elevator, Sicher Elevator, SJEC, Guangri Elevator, Hangzhou XiOlift, Edunburgh Elevator, Suzhou Diao, CNYD, Meilun Elevator, IFE Elevators, Joylive Elevator, Dongnan Elevator.

The high-rise elevators market is expected to register a CAGR of 5.5%.

1. Executive Summary

2. Assumptions and Acronyms Used

3. Research Methodology

4. High-rise 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. High-rise Elevators Market Dynamics
      4.3.1. Market Drivers
      4.3.2. Market Restraints
      4.3.3. Opportunity
      4.3.4. Market Trends
   4.4. High-rise Elevators Market - Supply Chain
   4.5. Global High-rise Elevators Market Forecast
      4.5.1. High-rise Elevators Market Size (US$ Mn) and Y-o-Y Growth
      4.5.2. High-rise Elevators Market Size (000’ Units) and Y-o-Y Growth
      4.5.3. High-rise Elevators Market Absolute $ Opportunity

5. Global High-rise 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. High-rise Elevators Market Size and Volume Forecast by Type
      5.3.1. Freight Elevator
      5.3.2. Passenger Elevator
   5.4. Absolute $ Opportunity Assessment by Type
   5.5. Market Attractiveness/Growth Potential Analysis by Type

6. Global High-rise 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. High-rise Elevators Market Size and Volume Forecast by Application
      6.3.1. Residential
      6.3.2. Commercial
   6.4. Absolute $ Opportunity Assessment by Application
   6.5. Market Attractiveness/Growth Potential Analysis by Application

7. Global High-rise 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. High-rise 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 High-rise 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. High-rise 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 High-rise Elevators Demand Share Forecast, 2019-2026

9. North America High-rise 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 High-rise 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 High-rise Elevators Market Size and Volume Forecast by Application
      9.4.1. Residential
      9.4.2. Commercial
   9.5. Basis Point Share (BPS) Analysis by Application
   9.6. Y-o-Y Growth Projections by Application
   9.7. North America High-rise Elevators Market Size and Volume Forecast by Type
      9.7.1. Freight Elevator
      9.7.2. Passenger Elevator
   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 High-rise Elevators Demand Share Forecast, 2019-2026

10. Latin America High-rise 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 High-rise 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 High-rise Elevators Market Size and Volume Forecast by Application
      10.4.1. Residential
      10.4.2. Commercial
   10.5. Basis Point Share (BPS) Analysis by Application
   10.6. Y-o-Y Growth Projections by Application
   10.7. Latin America High-rise Elevators Market Size and Volume Forecast by Type
      10.7.1. Freight Elevator
      10.7.2. Passenger Elevator
   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 High-rise Elevators Demand Share Forecast, 2019-2026

11. Europe High-rise 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 High-rise 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 High-rise Elevators Market Size and Volume Forecast by Application
      11.4.1. Residential
      11.4.2. Commercial
   11.5. Basis Point Share (BPS) Analysis by Application
   11.6. Y-o-Y Growth Projections by Application
   11.7. Europe High-rise Elevators Market Size and Volume Forecast by Type
      11.7.1. Freight Elevator
      11.7.2. Passenger Elevator
   11.8. Basis Point Share (BPS) Analysis by Type
   11.9. Y-o-Y 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 High-rise Elevators Demand Share, 2019-2026

12. Asia Pacific High-rise 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 High-rise 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 High-rise Elevators Market Size and Volume Forecast by Application
      12.4.1. Residential
      12.4.2. Commercial
   12.5. Basis Point Share (BPS) Analysis by Application
   12.6. Y-o-Y Growth Projections by Application
   12.7. Asia Pacific High-rise Elevators Market Size and Volume Forecast by Type
      12.7.1. Freight Elevator
      12.7.2. Passenger Elevator
   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 High-rise Elevators Demand Share, 2019-2026

13. Middle East & Africa High-rise 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 High-rise 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 High-rise Elevators Market Size and Volume Forecast by Application
      13.4.1. Residential
      13.4.2. Commercial
   13.5. Basis Point Share (BPS) Analysis by Application
   13.6. Y-o-Y Growth Projections by Application
   13.7. Middle East & Africa High-rise Elevators Market Size and Volume Forecast by Type
      13.7.1. Freight Elevator
      13.7.2. Passenger Elevator
   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 High-rise Elevators Demand Share, 2019-2026

14. Competition Landscape
   14.1. Global High-rise Elevators Market: Market Share Analysis
   14.2. High-rise Elevators Distributors and Customers
   14.3. High-rise Elevators Market: Competitive Dashboard
   14.4. Company Profiles (Details – Overview, Financials, Developments, Strategy) 
      14.4.1. Otis Overview Financials Developments Strategic Outlook
      14.4.2. Schindler Group Overview Financials Developments Strategic Outlook
      14.4.3. ThyssenKrupp Overview Financials Developments Strategic Outlook
      14.4.4. Kone Overview Financials Developments Strategic Outlook
      14.4.5. Mitsubishi Electric Overview Financials Developments Strategic Outlook
      14.4.6. Toshiba Overview Financials Developments Strategic Outlook
      14.4.7. Hitachi Overview Financials Developments Strategic Outlook
      14.4.8. Fujitec Overview Financials Developments Strategic Outlook
      14.4.9. Hyundai Overview Financials Developments Strategic Outlook
      14.4.10. Yungtay Engineering Overview Financials Developments Strategic Outlook
      14.4.11. Canny Elevator Overview Financials Developments Strategic Outlook
      14.4.12. Volkslift Overview Financials Developments Strategic Outlook
      14.4.13. Syney Elevator Overview Financials Developments Strategic Outlook
      14.4.14. Sicher Elevator Overview Financials Developments Strategic Outlook
      14.4.15. SJEC Overview Financials Developments Strategic Outlook
      14.4.16. Guangri Elevator Overview Financials Developments Strategic Outlook
      14.4.17. Hangzhou XiOlift Overview Financials Developments Strategic Outlook
      14.4.18. Edunburgh Elevator Overview Financials Developments Strategic Outlook
      14.4.19. Suzhou Diao Overview Financials Developments Strategic Outlook
      14.4.20. CNYD Overview Financials Developments Strategic Outlook

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