Middle East & Africa Elevators Market Size & Outlook
The elevators market in Middle East & Africa is expected to reach a projected revenue of US$ 6,306.4 million by 2030. A compound annual growth rate of 5.2% is expected of Middle East & Africa elevators market from 2025 to 2030.
Revenue, 2024 (US$M)
$4,644.2
Forecast, 2030 (US$M)
$6,306.4
CAGR, 2025 - 2030
5.2%
Report Coverage
Middle East & Africa
Middle East & Africa elevators market, 2018-2030 (US$M)
MEA elevators market highlights
- The MEA elevators market generated a revenue of USD 4,644.2 million in 2024.
- The market is expected to grow at a CAGR of 5.2% 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, Saudi Arabia is expected to register the highest CAGR from 2025 to 2030.
MEA data book summary
| Market revenue in 2024 | USD 4,644.2 million |
| Market revenue in 2030 | USD 6,306.4 million |
| Growth rate | 5.2% (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, MEA region accounted for 5.9% 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 |
|---|
MEA elevators market size, by country, 2018-2030 (US$M)
Middle East & Africa Elevators Market Outlook Share, 2024 & 2030 (US$M)
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