Asia Pacific Elevators Market Size & Outlook, 2024-2030
The elevators market in Asia Pacific is expected to reach a projected revenue of US$ 49,881.6 million by 2030. A compound annual growth rate of 7.3% is expected of Asia Pacific elevators market from 2025 to 2030.
Revenue, 2024 (US$M)
$32,791.7
Forecast, 2030 (US$M)
$49,881.6
CAGR, 2025 - 2030
7.3%
Report Coverage
Asia Pacific
Asia Pacific elevators market, 2018-2030 (US$M)
Asia Pacific elevators market highlights
- The Asia Pacific elevators market generated a revenue of USD 32,791.7 million in 2024.
- The market is expected to grow at a CAGR of 7.3% from 2025 to 2030.
- In terms of segment, traction was the largest revenue generating type in 2024.
- Machine Room-Less Traction is the most lucrative type segment registering the fastest growth during the forecast period.
- Country-wise, India is expected to register the highest CAGR from 2025 to 2030.
Asia Pacific data book summary
| Market revenue in 2024 | USD 32,791.7 million |
| Market revenue in 2030 | USD 49,881.6 million |
| Growth rate | 7.3% (CAGR from 2025 to 2030) |
| Largest segment | Traction |
| Fastest growing segment | Machine Room-Less Traction |
| Historical data covered | 2018 - 2023 |
| Base year for estimation | 2024 |
| Forecast period covered | 2025 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Hydraulic, Traction, Machine Room-Less Traction |
| Key market players worldwide | TK Elevator, Schindler Holding AG, Konecranes Oyj, Hitachi Ltd, Hyundai Elevator, Mitsubishi Electric Corp, Toshiba Corporation, Fujitec, Aritco Lift, Emak, Sigma Elevators, Schumacher Elevator, ESCON Elevators, Canny Elevator |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 41.5% of the global elevators market in 2024.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 49,881.6 million by 2030.
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Elevators Market Scope
Elevators market segmentation & scope
Countries
Canada
Mexico
U.S.
France
Germany
Italy
Spain
UK
Australia
China
India
Indonesia
Japan
Malaysia
South Korea
Argentina
Brazil
Saudi Arabia
South Africa
UAE
Elevators Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Asia Pacific elevators market size, by country, 2018-2030 (US$M)
Asia Pacific Elevators Market Outlook Share, 2024 & 2030 (US$M)
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Related regional statistics
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