Gearless Elevator Traction Motor Market Report 2025

The gearless elevator traction motor market size has grown strongly in recent years. It will grow from $5.0 billion in 2024 to $5.37 billion in 2025 at a compound annual growth rate (CAGR) of 7.4%. The growth during the historical period can be attributed to the development of economic standards, increasing construction of high-rise buildings, rapid urbanization, the adoption of environmentally friendly technologies, and the rising demand for energy-efficient buildings.

The gearless elevator traction motor market size is expected to see strong growth in the next few years. It will grow to $7.07 billion in 2029 at a compound annual growth rate (CAGR) of 7.1%. The anticipated growth in the forecast period will be driven by the increasing demand for energy-efficient solutions, the rising need for high-rise buildings, the growing necessity for efficient vertical transportation systems, population growth, and the emphasis on energy-saving capabilities. Key trends expected during this period include technological advancements, the development of more efficient elevator systems, infrastructure expansion, the integration of the Internet of Things (IoT), and the adoption of advanced control systems.

The increasing construction of high-rise buildings is expected to drive the growth of the gearless elevator traction motor market in the coming years. High-rise buildings, typically exceeding 35-40 meters (115-131 feet) or around 12-14 stories, are designed for residential, commercial, or mixed-use purposes. The rise in high-rise construction is being driven by rapid urbanization, population growth, limited land availability, advancements in construction technology, and the need for efficient land use in densely populated urban areas. Gearless elevator traction motors are commonly used in high-rise buildings to provide efficient, smooth, and high-speed vertical transportation with reduced maintenance and energy consumption. For example, in March 2024, New London Architecture (NLA), a UK-based organization promoting the capital's built environment, reported that the number of development applications for projects with at least one tall tower increased from 31 in 2021 to 58 in 2022. As a result, the growing number of high-rise buildings is expected to fuel the demand for gearless elevator traction motors.

Companies in the gearless elevator traction motor market are increasingly focusing on technological innovations such as permanent magnet synchronous (PMS) motors to enhance energy efficiency, lower maintenance costs, improve ride comfort, and optimize space utilization in modern elevator systems. A PMS motor uses permanent magnets in the rotor to generate a constant magnetic field, which results in high efficiency, precise control, and reduced energy consumption. For instance, in September 2022, TK Elevator, a Germany-based manufacturer of elevators and related machinery, launched the enta100 GL in India. This gearless alternative to the enta100 GD targets the low-rise, value-for-money market and offers lower maintenance costs, quieter operation, and a longer service life. Powered by a PMS motor, the enta100 GL ensures higher energy efficiency, reduced power consumption, and smooth acceleration/deceleration. Designed for buildings up to 45 meters (16 stops), it accommodates up to 8 passengers (544 kg) and is available in both machine-room (MR) and machine-room-less (MRL) configurations, maximizing space efficiency in new construction projects.

In June 2022, Standard Elevator Systems (SES), a U.S.-based manufacturer of elevator components, acquired McIntosh Industries Inc. for an undisclosed amount. This acquisition is part of SES's strategy for growth and diversification, enhancing its capabilities to meet the specialized needs of the elevator and escalator industry. McIntosh Industries Inc., based in the U.S., specializes in providing gearless elevator traction motors.

Major players 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., and Mont Drive Systems Co. Ltd.

Asia-Pacific was the largest region in the gearless elevator traction motor market in 2024. The regions covered in gearless elevator traction motor report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the gearless elevator traction motor market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

A gearless elevator traction motor is a high-efficiency electric motor that directly drives the elevator sheave without requiring a gearbox, minimizing energy loss and maintenance needs. It is designed to deliver smooth, quiet, and reliable operation, making it ideal for high-rise and high-speed elevator systems.

The primary types of gearless elevator traction motors include permanent magnet motors, AC motors, and DC motors. A permanent magnet motor utilizes permanent magnets to generate a magnetic field instead of electromagnets, resulting in greater efficiency and a more compact design. These motors are available in various technologies, such as smart motors, conventional motors, high-efficiency motors, and regenerative motors. They come in different capacities, including low, medium, and high, and are used in commercial, residential, and industrial applications. The key end-users include both new installations and modernization projects.

The gearless elevator traction motors market research report is one of a series of new reports that provides gearless elevator traction motors market statistics, including the gearless elevator traction motors industry global market size, regional shares, competitors with the gearless elevator traction motors market share, detailed gearless elevator traction motors market segments, market trends, and opportunities, and any further data you may need to thrive in the gearless elevator traction motors industry. This gearless elevator traction motors market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

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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