Elevator Modernization Market - Global Forecast 2026-2032

The elevator modernization market is evolving rapidly as organizations respond to the challenges of aging infrastructure, higher safety expectations, and the demand for continuous operation. Senior decision-makers face complex choices as modernization shifts from maintenance to a strategic priority influencing asset longevity, tenant satisfaction, and regulatory compliance.

Market Snapshot: Elevator Modernization Market Growth Drivers

The Elevator Modernization Market grew from USD 10.15 billion in 2025 to USD 11.01 billion in 2026 and is projected to reach USD 18.50 billion by 2032, demonstrating a CAGR of 8.95%. This growth trajectory is driven by factors such as increased urbanization, the need for regulatory compliance, rising demand for energy efficiency, and a growing focus on digital elevator control systems.

Scope & Segmentation of the Elevator Modernization Market

Solution Types: Control system modernization, electrical system upgrades, door and door operator modernization, safety modernization, and full replacement versus targeted retrofits.
Elevator Configurations: Hydraulic elevators, traction elevators, and considerations specific to machine-room layouts, drives, and subsystem reliability.
Service Approaches: Full replacement, partial retrofit, phased modernization strategies, and outcome-based maintenance agreements.
End User Segments: Commercial facilities (hotels, offices, retail), government and institutional buildings (education, healthcare, municipal), industrial sites, and residential buildings.
Provider Models: Original equipment manufacturers (OEMs), independent contractors, in-house teams, and specialized retrofit service providers.
Regional Coverage: Americas, Europe/Middle East/Africa (EMEA), and Asia-Pacific, each with distinct supplier networks and regulatory regimes.
Enabling Technologies: Digital controls, sensor-enabled monitoring, predictive analytics for maintenance, and remote diagnostics tools.

Key Takeaways for Strategic Stakeholders

Modernization initiatives now require cross-functional alignment among procurement, asset management, and facilities management teams to ensure capital efficiency and operational continuity.
Integrated digital controls and remote diagnostics have shifted from being value-adds to essential features, streamlining maintenance and supporting performance-based contracts.
Procurement strategies are adapting as stakeholders reevaluate supplier panels and emphasize transparency, contingency planning, and phased sourcing in response to tariff fluctuations and supply chain disruptions.
Segment-specific priorities drive modernization approaches—commercial properties focus on guest experience; institutional and government buildings prioritize accessibility and safety, industrial assets consider workflow integration, and residential owners seek minimal disruption.
Competitive differentiation emerges through proven technician capabilities, bundled service models, and the ability to document compliance and uptime improvements across modernization portfolios.
Regional variation requires tailored approaches, with local regulatory standards, labor practices, and urban density impacting both modernization priorities and supplier selection.

Tariff Impact on Elevator Modernization Procurement

Recent tariff changes have introduced new variables into project planning and supplier selection. Sourcing strategies now often include diversified supply bases, combined use of domestic and imported components, and renegotiated contract terms to mitigate cost and schedule risks. Supply chain resilience and transparency regarding origin and pricing are increasingly prioritized, especially where time-sensitive electronic or mechanical components are involved.

Methodology & Data Sources

The report uses a robust multi-method approach, combining structured interviews with facility managers, procurement specialists, safety auditors, and service providers. Technical standards reviews and secondary data validation ensure compliance insights are grounded in real-world application. Triangulation with industry experts bolsters the objectivity and accuracy of findings.

Why This Report Matters for Senior Decision-Makers

Enables precise alignment of modernization planning with lifecycle objectives, regulatory requirements, and emerging technology solutions.
Provides actionable insights for optimizing procurement, managing complex implementation timelines, and selecting service providers positioned for long-term performance.
Equips organizations to respond flexibly to regulatory, supply chain, and technological shifts while maintaining best practices in safety and operational continuity.

Conclusion: Industry Priorities for Sustainable Modernization

Modernization programs are most effective when they balance regulatory requirements, service continuity, and clear procurement protocols. By leveraging cross-team collaboration, embracing digital enablement, and reinforcing workforce competencies, organizations can achieve modernization outcomes that support asset longevity and occupant satisfaction.

Additional Product Information:

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1. Preface

1.1. Objectives of the Study
1.2. Market Definition
1.3. Market Segmentation & Coverage
1.4. Years Considered for the Study
1.5. Currency Considered for the Study
1.6. Language Considered for the Study
1.7. Key Stakeholders

2. Research Methodology

2.1. Introduction
2.2. Research Design
2.2.1. Primary Research
2.2.2. Secondary Research
2.3. Research Framework
2.3.1. Qualitative Analysis
2.3.2. Quantitative Analysis
2.4. Market Size Estimation
2.4.1. Top-Down Approach
2.4.2. Bottom-Up Approach
2.5. Data Triangulation
2.6. Research Outcomes
2.7. Research Assumptions
2.8. Research Limitations

3. Executive Summary

3.1. Introduction
3.2. CXO Perspective
3.3. Market Size & Growth Trends
3.4. Market Share Analysis, 2025
3.5. FPNV Positioning Matrix, 2025
3.6. New Revenue Opportunities
3.7. Next-Generation Business Models
3.8. Industry Roadmap

4. Market Overview

4.1. Introduction
4.2. Industry Ecosystem & Value Chain Analysis
4.2.1. Supply-Side Analysis
4.2.2. Demand-Side Analysis
4.2.3. Stakeholder Analysis
4.3. Porter’s Five Forces Analysis
4.4. PESTLE Analysis
4.5. Market Outlook
4.5.1. Near-Term Market Outlook (0-2 Years)
4.5.2. Medium-Term Market Outlook (3-5 Years)
4.5.3. Long-Term Market Outlook (5-10 Years)
4.6. Go-to-Market Strategy

5. Market Insights

5.1. Consumer Insights & End-User Perspective
5.2. Consumer Experience Benchmarking
5.3. Opportunity Mapping
5.4. Distribution Channel Analysis
5.5. Pricing Trend Analysis
5.6. Regulatory Compliance & Standards Framework
5.7. ESG & Sustainability Analysis
5.8. Disruption & Risk Scenarios
5.9. Return on Investment & Cost-Benefit Analysis

6. Cumulative Impact of United States Tariffs 2025
7. Cumulative Impact of Artificial Intelligence 2025

8. Elevator Modernization Market, by Modernization Type

8.1. Control System Modernization
8.2. Door Modernization
8.3. Door Operator Modernization
8.4. Electrical System Modernization
8.5. Safety Modernization

9. Elevator Modernization Market, by Elevator Type

9.1. Hydraulic Elevators
9.2. Traction Elevators

10. Elevator Modernization Market, by Service

10.1. Full Replacement
10.2. Retrofit

11. Elevator Modernization Market, by End User

11.1. Commercial
11.1.1. Hotels
11.1.2. Offices
11.1.3. Retail
11.2. Government
11.2.1. Educational Institutions
11.2.2. Healthcare Facilities
11.2.3. Municipal Buildings
11.3. Industrial
11.4. Residential

12. Elevator Modernization Market, by Service Provider

12.1. In-House Teams
12.2. Independent Contractors
12.3. OEM Providers

13. Elevator Modernization Market, by Region

13.1. Americas
13.1.1. North America
13.1.2. Latin America
13.2. Europe, Middle East & Africa
13.2.1. Europe
13.2.2. Middle East
13.2.3. Africa
13.3. Asia-Pacific

14. Elevator Modernization Market, by Group

14.1. ASEAN
14.2. GCC
14.3. European Union
14.4. BRICS
14.5. G7
14.6. NATO

15. Elevator Modernization Market, by Country

15.1. United States
15.2. Canada
15.3. Mexico
15.4. Brazil
15.5. United Kingdom
15.6. Germany
15.7. France
15.8. Russia
15.9. Italy
15.10. Spain
15.11. China
15.12. India
15.13. Japan
15.14. Australia
15.15. South Korea

16. United States Elevator Modernization Market
17. China Elevator Modernization Market

18. Competitive Landscape

18.1. Market Concentration Analysis, 2025
18.1.1. Concentration Ratio (CR)
18.1.2. Herfindahl Hirschman Index (HHI)
18.2. Recent Developments & Impact Analysis, 2025
18.3. Product Portfolio Analysis, 2025
18.4. Benchmarking Analysis, 2025
18.5. Adams Elevator Company Private Limited
18.6. AOYAMA Elevator Co.,Ltd
18.7. Columbia Elevator Products Co., Inc.
18.8. Eita Elevator (Malaysia) Sdn. Bhd.
18.9. Escon Elevators Pvt Ltd.
18.10. Fujitec Co., Ltd.
18.11. Henning GmbH & Co. KG
18.12. Hitachi Ltd.
18.13. Hollister-Whitney Elevator Corporation by Vantage Elevator Solutions
18.14. Hyundai Elevator Co., Ltd.
18.15. KONE Corporation
18.16. Mas Industries Private Limited
18.17. MEILLER Aufzugtüren GmbH
18.18. Mitsubishi Electric Corporation
18.19. Nidec Motor Corporation
18.20. Ningbo Hosting Elevator Co., Ltd.
18.21. Olympia Elevators Pvt. Ltd.
18.22. Orona S.C.
18.23. Otis Elevator Company by United Technologies Corporation
18.24. Prysmian Group
18.25. Schindler Group
18.26. Thyssenkrupp AG
18.27. TK Elevator GmbH
18.28. TOSHIBA JOHNSON ELEVATORS PRIVATE LIMITED
18.29. Wittur Holding GmbH

List of Figures

FIGURE 1. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, 2018-2032 (USD MILLION)
FIGURE 2. GLOBAL ELEVATOR MODERNIZATION MARKET SHARE, BY KEY PLAYER, 2025
FIGURE 3. GLOBAL ELEVATOR MODERNIZATION MARKET, FPNV POSITIONING MATRIX, 2025
FIGURE 4. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY MODERNIZATION TYPE, 2025 VS 2026 VS 2032 (USD MILLION)
FIGURE 5. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY ELEVATOR TYPE, 2025 VS 2026 VS 2032 (USD MILLION)
FIGURE 6. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY SERVICE, 2025 VS 2026 VS 2032 (USD MILLION)
FIGURE 7. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY END USER, 2025 VS 2026 VS 2032 (USD MILLION)
FIGURE 8. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY SERVICE PROVIDER, 2025 VS 2026 VS 2032 (USD MILLION)
FIGURE 9. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY REGION, 2025 VS 2026 VS 2032 (USD MILLION)
FIGURE 10. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY GROUP, 2025 VS 2026 VS 2032 (USD MILLION)
FIGURE 11. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY COUNTRY, 2025 VS 2026 VS 2032 (USD MILLION)
FIGURE 12. UNITED STATES ELEVATOR MODERNIZATION MARKET SIZE, 2018-2032 (USD MILLION)
FIGURE 13. CHINA ELEVATOR MODERNIZATION MARKET SIZE, 2018-2032 (USD MILLION)

List of Tables

TABLE 1. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, 2018-2032 (USD MILLION)
TABLE 2. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY MODERNIZATION TYPE, 2018-2032 (USD MILLION)
TABLE 3. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY CONTROL SYSTEM MODERNIZATION, BY REGION, 2018-2032 (USD MILLION)
TABLE 4. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY CONTROL SYSTEM MODERNIZATION, BY GROUP, 2018-2032 (USD MILLION)
TABLE 5. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY CONTROL SYSTEM MODERNIZATION, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 6. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY DOOR MODERNIZATION, BY REGION, 2018-2032 (USD MILLION)
TABLE 7. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY DOOR MODERNIZATION, BY GROUP, 2018-2032 (USD MILLION)
TABLE 8. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY DOOR MODERNIZATION, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 9. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY DOOR OPERATOR MODERNIZATION, BY REGION, 2018-2032 (USD MILLION)
TABLE 10. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY DOOR OPERATOR MODERNIZATION, BY GROUP, 2018-2032 (USD MILLION)
TABLE 11. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY DOOR OPERATOR MODERNIZATION, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 12. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY ELECTRICAL SYSTEM MODERNIZATION, BY REGION, 2018-2032 (USD MILLION)
TABLE 13. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY ELECTRICAL SYSTEM MODERNIZATION, BY GROUP, 2018-2032 (USD MILLION)
TABLE 14. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY ELECTRICAL SYSTEM MODERNIZATION, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 15. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY SAFETY MODERNIZATION, BY REGION, 2018-2032 (USD MILLION)
TABLE 16. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY SAFETY MODERNIZATION, BY GROUP, 2018-2032 (USD MILLION)
TABLE 17. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY SAFETY MODERNIZATION, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 18. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY ELEVATOR TYPE, 2018-2032 (USD MILLION)
TABLE 19. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY HYDRAULIC ELEVATORS, BY REGION, 2018-2032 (USD MILLION)
TABLE 20. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY HYDRAULIC ELEVATORS, BY GROUP, 2018-2032 (USD MILLION)
TABLE 21. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY HYDRAULIC ELEVATORS, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 22. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY TRACTION ELEVATORS, BY REGION, 2018-2032 (USD MILLION)
TABLE 23. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY TRACTION ELEVATORS, BY GROUP, 2018-2032 (USD MILLION)
TABLE 24. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY TRACTION ELEVATORS, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 25. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY SERVICE, 2018-2032 (USD MILLION)
TABLE 26. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY FULL REPLACEMENT, BY REGION, 2018-2032 (USD MILLION)
TABLE 27. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY FULL REPLACEMENT, BY GROUP, 2018-2032 (USD MILLION)
TABLE 28. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY FULL REPLACEMENT, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 29. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY RETROFIT, BY REGION, 2018-2032 (USD MILLION)
TABLE 30. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY RETROFIT, BY GROUP, 2018-2032 (USD MILLION)
TABLE 31. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY RETROFIT, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 32. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY END USER, 2018-2032 (USD MILLION)
TABLE 33. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY COMMERCIAL, BY REGION, 2018-2032 (USD MILLION)
TABLE 34. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY COMMERCIAL, BY GROUP, 2018-2032 (USD MILLION)
TABLE 35. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY COMMERCIAL, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 36. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY COMMERCIAL, 2018-2032 (USD MILLION)
TABLE 37. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY HOTELS, BY REGION, 2018-2032 (USD MILLION)
TABLE 38. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY HOTELS, BY GROUP, 2018-2032 (USD MILLION)
TABLE 39. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY HOTELS, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 40. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY OFFICES, BY REGION, 2018-2032 (USD MILLION)
TABLE 41. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY OFFICES, BY GROUP, 2018-2032 (USD MILLION)
TABLE 42. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY OFFICES, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 43. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY RETAIL, BY REGION, 2018-2032 (USD MILLION)
TABLE 44. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY RETAIL, BY GROUP, 2018-2032 (USD MILLION)
TABLE 45. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY RETAIL, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 46. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY GOVERNMENT, BY REGION, 2018-2032 (USD MILLION)
TABLE 47. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY GOVERNMENT, BY GROUP, 2018-2032 (USD MILLION)
TABLE 48. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY GOVERNMENT, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 49. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY GOVERNMENT, 2018-2032 (USD MILLION)
TABLE 50. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY EDUCATIONAL INSTITUTIONS, BY REGION, 2018-2032 (USD MILLION)
TABLE 51. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY EDUCATIONAL INSTITUTIONS, BY GROUP, 2018-2032 (USD MILLION)
TABLE 52. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY EDUCATIONAL INSTITUTIONS, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 53. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY HEALTHCARE FACILITIES, BY REGION, 2018-2032 (USD MILLION)
TABLE 54. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY HEALTHCARE FACILITIES, BY GROUP, 2018-2032 (USD MILLION)
TABLE 55. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY HEALTHCARE FACILITIES, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 56. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY MUNICIPAL BUILDINGS, BY REGION, 2018-2032 (USD MILLION)
TABLE 57. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY MUNICIPAL BUILDINGS, BY GROUP, 2018-2032 (USD MILLION)
TABLE 58. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY MUNICIPAL BUILDINGS, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 59. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY INDUSTRIAL, BY REGION, 2018-2032 (USD MILLION)
TABLE 60. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY INDUSTRIAL, BY GROUP, 2018-2032 (USD MILLION)
TABLE 61. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY INDUSTRIAL, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 62. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY RESIDENTIAL, BY REGION, 2018-2032 (USD MILLION)
TABLE 63. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY RESIDENTIAL, BY GROUP, 2018-2032 (USD MILLION)
TABLE 64. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY RESIDENTIAL, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 65. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY SERVICE PROVIDER, 2018-2032 (USD MILLION)
TABLE 66. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY IN-HOUSE TEAMS, BY REGION, 2018-2032 (USD MILLION)
TABLE 67. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY IN-HOUSE TEAMS, BY GROUP, 2018-2032 (USD MILLION)
TABLE 68. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY IN-HOUSE TEAMS, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 69. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY INDEPENDENT CONTRACTORS, BY REGION, 2018-2032 (USD MILLION)
TABLE 70. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY INDEPENDENT CONTRACTORS, BY GROUP, 2018-2032 (USD MILLION)
TABLE 71. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY INDEPENDENT CONTRACTORS, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 72. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY OEM PROVIDERS, BY REGION, 2018-2032 (USD MILLION)
TABLE 73. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY OEM PROVIDERS, BY GROUP, 2018-2032 (USD MILLION)
TABLE 74. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY OEM PROVIDERS, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 75. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY REGION, 2018-2032 (USD MILLION)
TABLE 76. AMERICAS ELEVATOR MODERNIZATION MARKET SIZE, BY SUBREGION, 2018-2032 (USD MILLION)
TABLE 77. AMERICAS ELEVATOR MODERNIZATION MARKET SIZE, BY MODERNIZATION TYPE, 2018-2032 (USD MILLION)
TABLE 78. AMERICAS ELEVATOR MODERNIZATION MARKET SIZE, BY ELEVATOR TYPE, 2018-2032 (USD MILLION)
TABLE 79. AMERICAS ELEVATOR MODERNIZATION MARKET SIZE, BY SERVICE, 2018-2032 (USD MILLION)
TABLE 80. AMERICAS ELEVATOR MODERNIZATION MARKET SIZE, BY END USER, 2018-2032 (USD MILLION)
TABLE 81. AMERICAS ELEVATOR MODERNIZATION MARKET SIZE, BY COMMERCIAL, 2018-2032 (USD MILLION)
TABLE 82. AMERICAS ELEVATOR MODERNIZATION MARKET SIZE, BY GOVERNMENT, 2018-2032 (USD MILLION)
TABLE 83. AMERICAS ELEVATOR MODERNIZATION MARKET SIZE, BY SERVICE PROVIDER, 2018-2032 (USD MILLION)
TABLE 84. NORTH AMERICA ELEVATOR MODERNIZATION MARKET SIZE, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 85. NORTH AMERICA ELEVATOR MODERNIZATION MARKET SIZE, BY MODERNIZATION TYPE, 2018-2032 (USD MILLION)
TABLE 86. NORTH AMERICA ELEVATOR MODERNIZATION MARKET SIZE, BY ELEVATOR TYPE, 2018-2032 (USD MILLION)
TABLE 87. NORTH AMERICA ELEVATOR MODERNIZATION MARKET SIZE, BY SERVICE, 2018-2032 (USD MILLION)
TABLE 88. NORTH AMERICA ELEVATOR MODERNIZATION MARKET SIZE, BY END USER, 2018-2032 (USD MILLION)
TABLE 89. NORTH AMERICA ELEVATOR MODERNIZATION MARKET SIZE, BY COMMERCIAL, 2018-2032 (USD MILLION)
TABLE 90. NORTH AMERICA ELEVATOR MODERNIZATION MARKET SIZE, BY GOVERNMENT, 2018-2032 (USD MILLION)
TABLE 91. NORTH AMERICA ELEVATOR MODERNIZATION MARKET SIZE, BY SERVICE PROVIDER, 2018-2032 (USD MILLION)
TABLE 92. LATIN AMERICA ELEVATOR MODERNIZATION MARKET SIZE, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 93. LATIN AMERICA ELEVATOR MODERNIZATION MARKET SIZE, BY MODERNIZATION TYPE, 2018-2032 (USD MILLION)
TABLE 94. LATIN AMERICA ELEVATOR MODERNIZATION MARKET SIZE, BY ELEVATOR TYPE, 2018-2032 (USD MILLION)
TABLE 95. LATIN AMERICA ELEVATOR MODERNIZATION MARKET SIZE, BY SERVICE, 2018-2032 (USD MILLION)
TABLE 96. LATIN AMERICA ELEVATOR MODERNIZATION MARKET SIZE, BY END USER, 2018-2032 (USD MILLION)
TABLE 97. LATIN AMERICA ELEVATOR MODERNIZATION MARKET SIZE, BY COMMERCIAL, 2018-2032 (USD MILLION)
TABLE 98. LATIN AMERICA ELEVATOR MODERNIZATION MARKET SIZE, BY GOVERNMENT, 2018-2032 (USD MILLION)
TABLE 99. LATIN AMERICA ELEVATOR MODERNIZATION MARKET SIZE, BY SERVICE PROVIDER, 2018-2032 (USD MILLION)
TABLE 100. EUROPE, MIDDLE EAST & AFRICA ELEVATOR MODERNIZATION MARKET SIZE, BY SUBREGION, 2018-2032 (USD MILLION)
TABLE 101. EUROPE, MIDDLE EAST & AFRICA ELEVATOR MODERNIZATION MARKET SIZE, BY MODERNIZATION TYPE, 2018-2032 (USD MILLION)
TABLE 102. EUROPE, MIDDLE EAST & AFRICA ELEVATOR MODERNIZATION MARKET SIZE, BY ELEVATOR TYPE, 2018-2032 (USD MILLION)
TABLE 103. EUROPE, MIDDLE EAST & AFRICA ELEVATOR MODERNIZATION MARKET SIZE, BY SERVICE, 2018-2032 (USD MILLION)
TABLE 104. EUROPE, MIDDLE EAST & AFRICA ELEVATOR MODERNIZATION MARKET SIZE, BY END USER, 2018-2032 (USD MILLION)
TABLE 105. EUROPE, MIDDLE EAST & AFRICA ELEVATOR MODERNIZATION MARKET SIZE, BY COMMERCIAL, 2018-2032 (USD MILLION)
TABLE 106. EUROPE, MIDDLE EAST & AFRICA ELEVATOR MODERNIZATION MARKET SIZE, BY GOVERNMENT, 2018-2032 (USD MILLION)
TABLE 107. EUROPE, MIDDLE EAST & AFRICA ELEVATOR MODERNIZATION MARKET SIZE, BY SERVICE PROVIDER, 2018-2032 (USD MILLION)
TABLE 108. EUROPE ELEVATOR MODERNIZATION MARKET SIZE, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 109. EUROPE ELEVATOR MODERNIZATION MARKET SIZE, BY MODERNIZATION TYPE, 2018-2032 (USD MILLION)
TABLE 110. EUROPE ELEVATOR MODERNIZATION MARKET SIZE, BY ELEVATOR TYPE, 2018-2032 (USD MILLION)
TABLE 111. EUROPE ELEVATOR MODERNIZATION MARKET SIZE, BY SERVICE, 2018-2032 (USD MILLION)
TABLE 112. EUROPE ELEVATOR MODERNIZATION MARKET SIZE, BY END USER, 2018-2032 (USD MILLION)
TABLE 113. EUROPE ELEVATOR MODERNIZATION MARKET SIZE, BY COMMERCIAL, 2018-2032 (USD MILLION)
TABLE 114. EUROPE ELEVATOR MODERNIZATION MARKET SIZE, BY GOVERNMENT, 2018-2032 (USD MILLION)
TABLE 115. EUROPE ELEVATOR MODERNIZATION MARKET SIZE, BY SERVICE PROVIDER, 2018-2032 (USD MILLION)
TABLE 116. MIDDLE EAST ELEVATOR MODERNIZATION MARKET SIZE, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 117. MIDDLE EAST ELEVATOR MODERNIZATION MARKET SIZE, BY MODERNIZATION TYPE, 2018-2032 (USD MILLION)
TABLE 118. MIDDLE EAST ELEVATOR MODERNIZATION MARKET SIZE, BY ELEVATOR TYPE, 2018-2032 (USD MILLION)
TABLE 119. MIDDLE EAST ELEVATOR MODERNIZATION MARKET SIZE, BY SERVICE, 2018-2032 (USD MILLION)
TABLE 120. MIDDLE EAST ELEVATOR MODERNIZATION MARKET SIZE, BY END USER, 2018-2032 (USD MILLION)
TABLE 121. MIDDLE EAST ELEVATOR MODERNIZATION MARKET SIZE, BY COMMERCIAL, 2018-2032 (USD MILLION)
TABLE 122. MIDDLE EAST ELEVATOR MODERNIZATION MARKET SIZE, BY GOVERNMENT, 2018-2032 (USD MILLION)
TABLE 123. MIDDLE EAST ELEVATOR MODERNIZATION MARKET SIZE, BY SERVICE PROVIDER, 2018-2032 (USD MILLION)
TABLE 124. AFRICA ELEVATOR MODERNIZATION MARKET SIZE, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 125. AFRICA ELEVATOR MODERNIZATION MARKET SIZE, BY MODERNIZATION TYPE, 2018-2032 (USD MILLION)
TABLE 126. AFRICA ELEVATOR MODERNIZATION MARKET SIZE, BY ELEVATOR TYPE, 2018-2032 (USD MILLION)
TABLE 127. AFRICA ELEVATOR MODERNIZATION MARKET SIZE, BY SERVICE, 2018-2032 (USD MILLION)
TABLE 128. AFRICA ELEVATOR MODERNIZATION MARKET SIZE, BY END USER, 2018-2032 (USD MILLION)
TABLE 129. AFRICA ELEVATOR MODERNIZATION MARKET SIZE, BY COMMERCIAL, 2018-2032 (USD MILLION)
TABLE 130. AFRICA ELEVATOR MODERNIZATION MARKET SIZE, BY GOVERNMENT, 2018-2032 (USD MILLION)
TABLE 131. AFRICA ELEVATOR MODERNIZATION MARKET SIZE, BY SERVICE PROVIDER, 2018-2032 (USD MILLION)
TABLE 132. ASIA-PACIFIC ELEVATOR MODERNIZATION MARKET SIZE, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 133. ASIA-PACIFIC ELEVATOR MODERNIZATION MARKET SIZE, BY MODERNIZATION TYPE, 2018-2032 (USD MILLION)
TABLE 134. ASIA-PACIFIC ELEVATOR MODERNIZATION MARKET SIZE, BY ELEVATOR TYPE, 2018-2032 (USD MILLION)
TABLE 135. ASIA-PACIFIC ELEVATOR MODERNIZATION MARKET SIZE, BY SERVICE, 2018-2032 (USD MILLION)
TABLE 136. ASIA-PACIFIC ELEVATOR MODERNIZATION MARKET SIZE, BY END USER, 2018-2032 (USD MILLION)
TABLE 137. ASIA-PACIFIC ELEVATOR MODERNIZATION MARKET SIZE, BY COMMERCIAL, 2018-2032 (USD MILLION)
TABLE 138. ASIA-PACIFIC ELEVATOR MODERNIZATION MARKET SIZE, BY GOVERNMENT, 2018-2032 (USD MILLION)
TABLE 139. ASIA-PACIFIC ELEVATOR MODERNIZATION MARKET SIZE, BY SERVICE PROVIDER, 2018-2032 (USD MILLION)
TABLE 140. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY GROUP, 2018-2032 (USD MILLION)
TABLE 141. ASEAN ELEVATOR MODERNIZATION MARKET SIZE, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 142. ASEAN ELEVATOR MODERNIZATION MARKET SIZE, BY MODERNIZATION TYPE, 2018-2032 (USD MILLION)
TABLE 143. ASEAN ELEVATOR MODERNIZATION MARKET SIZE, BY ELEVATOR TYPE, 2018-2032 (USD MILLION)
TABLE 144. ASEAN ELEVATOR MODERNIZATION MARKET SIZE, BY SERVICE, 2018-2032 (USD MILLION)
TABLE 145. ASEAN ELEVATOR MODERNIZATION MARKET SIZE, BY END USER, 2018-2032 (USD MILLION)
TABLE 146. ASEAN ELEVATOR MODERNIZATION MARKET SIZE, BY COMMERCIAL, 2018-2032 (USD MILLION)
TABLE 147. ASEAN ELEVATOR MODERNIZATION MARKET SIZE, BY GOVERNMENT, 2018-2032 (USD MILLION)
TABLE 148. ASEAN ELEVATOR MODERNIZATION MARKET SIZE, BY SERVICE PROVIDER, 2018-2032 (USD MILLION)
TABLE 149. GCC ELEVATOR MODERNIZATION MARKET SIZE, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 150. GCC ELEVATOR MODERNIZATION MARKET SIZE, BY MODERNIZATION TYPE, 2018-2032 (USD MILLION)
TABLE 151. GCC ELEVATOR MODERNIZATION MARKET SIZE, BY ELEVATOR TYPE, 2018-2032 (USD MILLION)
TABLE 152. GCC ELEVATOR MODERNIZATION MARKET SIZE, BY SERVICE, 2018-2032 (USD MILLION)
TABLE 153. GCC ELEVATOR MODERNIZATION MARKET SIZE, BY END USER, 2018-2032 (USD MILLION)
TABLE 154. GCC ELEVATOR MODERNIZATION MARKET SIZE, BY COMMERCIAL, 2018-2032 (USD MILLION)
TABLE 155. GCC ELEVATOR MODERNIZATION MARKET SIZE, BY GOVERNMENT, 2018-2032 (USD MILLION)
TABLE 156. GCC ELEVATOR MODERNIZATION MARKET SIZE, BY SERVICE PROVIDER, 2018-2032 (USD MILLION)
TABLE 157. EUROPEAN UNION ELEVATOR MODERNIZATION MARKET SIZE, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 158. EUROPEAN UNION ELEVATOR MODERNIZATION MARKET SIZE, BY MODERNIZATION TYPE, 2018-2032 (USD MILLION)
TABLE 159. EUROPEAN UNION ELEVATOR MODERNIZATION MARKET SIZE, BY ELEVATOR TYPE, 2018-2032 (USD MILLION)
TABLE 160. EUROPEAN UNION ELEVATOR MODERNIZATION MARKET SIZE, BY SERVICE, 2018-2032 (USD MILLION)
TABLE 161. EUROPEAN UNION ELEVATOR MODERNIZATION MARKET SIZE, BY END USER, 2018-2032 (USD MILLION)
TABLE 162. EUROPEAN UNION ELEVATOR MODERNIZATION MARKET SIZE, BY COMMERCIAL, 2018-2032 (USD MILLION)
TABLE 163. EUROPEAN UNION ELEVATOR MODERNIZATION MARKET SIZE, BY GOVERNMENT, 2018-2032 (USD MILLION)
TABLE 164. EUROPEAN UNION ELEVATOR MODERNIZATION MARKET SIZE, BY SERVICE PROVIDER, 2018-2032 (USD MILLION)
TABLE 165. BRICS ELEVATOR MODERNIZATION MARKET SIZE, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 166. BRICS ELEVATOR MODERNIZATION MARKET SIZE, BY MODERNIZATION TYPE, 2018-2032 (USD MILLION)
TABLE 167. BRICS ELEVATOR MODERNIZATION MARKET SIZE, BY ELEVATOR TYPE, 2018-2032 (USD MILLION)
TABLE 168. BRICS ELEVATOR MODERNIZATION MARKET SIZE, BY SERVICE, 2018-2032 (USD MILLION)
TABLE 169. BRICS ELEVATOR MODERNIZATION MARKET SIZE, BY END USER, 2018-2032 (USD MILLION)
TABLE 170. BRICS ELEVATOR MODERNIZATION MARKET SIZE, BY COMMERCIAL, 2018-2032 (USD MILLION)
TABLE 171. BRICS ELEVATOR MODERNIZATION MARKET SIZE, BY GOVERNMENT, 2018-2032 (USD MILLION)
TABLE 172. BRICS ELEVATOR MODERNIZATION MARKET SIZE, BY SERVICE PROVIDER, 2018-2032 (USD MILLION)
TABLE 173. G7 ELEVATOR MODERNIZATION MARKET SIZE, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 174. G7 ELEVATOR MODERNIZATION MARKET SIZE, BY MODERNIZATION TYPE, 2018-2032 (USD MILLION)
TABLE 175. G7 ELEVATOR MODERNIZATION MARKET SIZE, BY ELEVATOR TYPE, 2018-2032 (USD MILLION)
TABLE 176. G7 ELEVATOR MODERNIZATION MARKET SIZE, BY SERVICE, 2018-2032 (USD MILLION)
TABLE 177. G7 ELEVATOR MODERNIZATION MARKET SIZE, BY END USER, 2018-2032 (USD MILLION)
TABLE 178. G7 ELEVATOR MODERNIZATION MARKET SIZE, BY COMMERCIAL, 2018-2032 (USD MILLION)
TABLE 179. G7 ELEVATOR MODERNIZATION MARKET SIZE, BY GOVERNMENT, 2018-2032 (USD MILLION)
TABLE 180. G7 ELEVATOR MODERNIZATION MARKET SIZE, BY SERVICE PROVIDER, 2018-2032 (USD MILLION)
TABLE 181. NATO ELEVATOR MODERNIZATION MARKET SIZE, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 182. NATO ELEVATOR MODERNIZATION MARKET SIZE, BY MODERNIZATION TYPE, 2018-2032 (USD MILLION)
TABLE 183. NATO ELEVATOR MODERNIZATION MARKET SIZE, BY ELEVATOR TYPE, 2018-2032 (USD MILLION)
TABLE 184. NATO ELEVATOR MODERNIZATION MARKET SIZE, BY SERVICE, 2018-2032 (USD MILLION)
TABLE 185. NATO ELEVATOR MODERNIZATION MARKET SIZE, BY END USER, 2018-2032 (USD MILLION)
TABLE 186. NATO ELEVATOR MODERNIZATION MARKET SIZE, BY COMMERCIAL, 2018-2032 (USD MILLION)
TABLE 187. NATO ELEVATOR MODERNIZATION MARKET SIZE, BY GOVERNMENT, 2018-2032 (USD MILLION)
TABLE 188. NATO ELEVATOR MODERNIZATION MARKET SIZE, BY SERVICE PROVIDER, 2018-2032 (USD MILLION)
TABLE 189. GLOBAL ELEVATOR MODERNIZATION MARKET SIZE, BY COUNTRY, 2018-2032 (USD MILLION)
TABLE 190. UNITED STATES ELEVATOR MODERNIZATION MARKET SIZE, 2018-2032 (USD MILLION)
TABLE 191. UNITED STATES ELEVATOR MODERNIZATION MARKET SIZE, BY MODERNIZATION TYPE, 2018-2032 (USD MILLION)
TABLE 192. UNITED STATES ELEVATOR MODERNIZATION MARKET SIZE, BY ELEVATOR TYPE, 2018-2032 (USD MILLION)
TABLE 193. UNITED STATES ELEVATOR MODERNIZATION MARKET SIZE, BY SERVICE, 2018-2032 (USD MILLION)
TABLE 194. UNITED STATES ELEVATOR MODERNIZATION MARKET SIZE, BY END USER, 2018-2032 (USD MILLION)
TABLE 195. UNITED STATES ELEVATOR MODERNIZATION MARKET SIZE, BY COMMERCIAL, 2018-2032 (USD MILLION)
TABLE 196. UNITED STATES ELEVATOR MODERNIZATION MARKET SIZE, BY GOVERNMENT, 2018-2032 (USD MILLION)
TABLE 197. UNITED STATES ELEVATOR MODERNIZATION MARKET SIZE, BY SERVICE PROVIDER, 2018-2032 (USD MILLION)
TABLE 198. CHINA ELEVATOR MODERNIZATION MARKET SIZE, 2018-2032 (USD MILLION)
TABLE 199. CHINA ELEVATOR MODERNIZATION MARKET SIZE, BY MODERNIZATION TYPE, 2018-2032 (USD MILLION)
TABLE 200. CHINA ELEVATOR MODERNIZATION MARKET SIZE, BY ELEVATOR TYPE, 2018-2032 (USD MILLION)
TABLE 201. CHINA ELEVATOR MODERNIZATION MARKET SIZE, BY SERVICE, 2018-2032 (USD MILLION)
TABLE 202. CHINA ELEVATOR MODERNIZATION MARKET SIZE, BY END USER, 2018-2032 (USD MILLION)
TABLE 203. CHINA ELEVATOR MODERNIZATION MARKET SIZE, BY COMMERCIAL, 2018-2032 (USD MILLION)
TABLE 204. CHINA ELEVATOR MODERNIZATION MARKET SIZE, BY GOVERNMENT, 2018-2032 (USD MILLION)
TABLE 205. CHINA ELEVATOR MODERNIZATION MARKET SIZE, BY SERVICE PROVIDER, 2018-2032 (USD MILLION)

Companies Mentioned

The key companies profiled in this Elevator Modernization market report include:

Adams Elevator Company Private Limited
AOYAMA Elevator Co.,Ltd
Columbia Elevator Products Co., Inc.
Eita Elevator (Malaysia) Sdn. Bhd.
Escon Elevators Pvt Ltd.
Fujitec Co., Ltd.
Henning GmbH & Co. KG
Hitachi Ltd.
Hollister-Whitney Elevator Corporation by Vantage Elevator Solutions
Hyundai Elevator Co., Ltd.
KONE Corporation
Mas Industries Private Limited
MEILLER Aufzugtüren GmbH
Mitsubishi Electric Corporation
Nidec Motor Corporation
Ningbo Hosting Elevator Co., Ltd.
Olympia Elevators Pvt. Ltd.
Orona S.C.
Otis Elevator Company by United Technologies Corporation
Prysmian Group
Schindler Group
Thyssenkrupp AG
TK Elevator GmbH
TOSHIBA JOHNSON ELEVATORS PRIVATE LIMITED
Wittur Holding GmbH

Table Information

Report Attribute	Details
No. of Pages	191
Published	January 2026
Forecast Period	2026 - 2032
Estimated Market Value ( USD ) in 2026	$ 11.01 Billion
Forecasted Market Value ( USD ) by 2032	$ 18.5 Billion
Compound Annual Growth Rate	8.9%
Regions Covered	Global
No. of Companies Mentioned	26

License	Properties	Price
SINGLE USER LICENSE PDF, Excel and Online Access	This is a single user license, allowing one user access to the product.	€3511EUR$3,939USD£3,045GBP
1 - 5 USER LICENSE PDF, Excel and Online Access	This is a 1-5 user license, allowing up to five users have access to the product.	€3787EUR$4,249USD£3,285GBP
SITE LICENSE PDF, Excel and Online Access	This is a site license, allowing all users within a given geographical location of your organization access to the product.	€5133EUR$5,759USD£4,452GBP
ENTERPRISE LICENSE PDF, Excel and Online Access	This is an enterprise license, allowing all employees within your organization access to the product.	€6212EUR$6,969USD£5,387GBP

Market Snapshot: Elevator Modernization Market Growth Drivers

Scope & Segmentation of the Elevator Modernization Market

Key Takeaways for Strategic Stakeholders

Tariff Impact on Elevator Modernization Procurement

Methodology & Data Sources

Why This Report Matters for Senior Decision-Makers

Conclusion: Industry Priorities for Sustainable Modernization

Table of Contents

Companies Mentioned

Table Information

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