Gearless Elevator Traction Motor Market Report 2026

The gearless elevator traction motor market size has grown strongly in recent years. It will grow from $5.29 billion in 2025 to $5.64 billion in 2026 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to urbanization and high-rise building growth, demand for efficient vertical transportation, reduction of maintenance costs, improvement in ride comfort, replacement of geared traction systems.

The gearless elevator traction motor market size is expected to see strong growth in the next few years. It will grow to $7.29 billion in 2030 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to smart building integration, regenerative drive adoption, expansion of green building projects, modernization of installed elevator base, growth of mega infrastructure projects. Major trends in the forecast period include shift toward energy-efficient elevator systems, increasing adoption of permanent magnet motors, demand for low-noise elevator solutions, modernization of aging elevator infrastructure, growth of high-rise construction.

The rising construction of high-rise buildings is expected to drive the growth of the gearless elevator traction motor market going forward. High-rise buildings are tall structures, typically exceeding 35-40 meters (115-131 feet) or about 12-14 stories, designed for residential, commercial, or mixed-use purposes. Their construction is increasing due to rapid urbanization, population growth, limited land availability, advancements in construction technology, and the need for efficient land use in densely populated cities. Gearless elevator traction motors are used in these buildings to provide efficient, smooth, and high-speed vertical transportation while reducing maintenance and energy consumption. For instance, in January 2024, according to the Council on Tall Buildings and Urban Habitat (CTBUH), a US-based international non-profit monitoring global skyscraper development, 185 buildings measuring 200 meters or more were completed worldwide in 2023, marking a 10.1% increase compared to 2022. Therefore, the rising construction of high-rise buildings will drive the gearless elevator traction motor market.

Major companies in the gearless elevator traction motor market are focusing on integrating advanced motor technologies such as permanent-magnet synchronous motors (PMSMs), enabling more efficient, compact, and sustainable elevator systems. PMSM technology uses high-strength permanent magnets embedded in the rotor so the motor rotates synchronously with the alternating current in the stator, allowing direct-drive capability without a gearbox, thereby reducing energy loss and friction. For example, in October 2024, Bluelight Group, a China-based elevator components manufacturer, launched the WYT-R Rail Mount Version Elevator Gearless Machine, a PMSM-based gearless traction system for rail-mounted elevators featuring an outer-rotor structure for smoother low-speed operation and high overload capacity, a block-type armless brake for fast response and reliability, and a compact design optimized for rail-mount installation. The WYT-R improves energy efficiency, lowers maintenance costs by eliminating gearbox upkeep, and enhances ride comfort and safety through smoother, quieter operation and robust braking and overload protection.

In June 2024, Aritec New Materials Group AG, a Switzerland-based synthetic treatment solutions company, partnered with Alberto Sassi S.p.A. to integrate Aritec’s high-performance elevator belt Aribelt 30 F3.4 with Alberto Sassi’s gearless traction machines. This partnership aims to provide modern machine-room-less elevator solutions that maximize usable space, reduce power consumption by up to 35%, and extend equipment lifespan with lower maintenance and operational costs. Alberto Sassi S.p.A. is an Italy-based manufacturer of geared and gearless elevator traction machines.

Major companies operating in the gearless elevator traction motor market are Hitachi Ltd., Siemens AG, Thyssenkrupp AG, Mitsubishi Electric Corporation, Toshiba Corporation, Nidec Corporation, Otis Elevator Company, Schindler Holding AG, Kone Corporation, Hyundai Elevator Co. Ltd., Hiwin Technologies Corp., Kleemann Elevators S.A., Ningbo Xinda Elevator Traction Technology Co. Ltd., Fujitec Co. Ltd., Suzhou Torin Drive Equipment Co. Ltd., Cheng Day Machinery Works, Xizi Forvorda Co. Ltd., Fenoja Oy, Shanghai ZanFeng Technology Co. Ltd., Mont Drive Systems Co. Ltd.

Asia-Pacific was the largest region in the gearless elevator traction motor market in 2025. The regions covered in the gearless elevator traction motor market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the gearless elevator traction motor market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The gearless elevator traction motor market consists of sales of dual-drive gearless traction motors, custom gearless traction motors, and direct-drive gearless motors. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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