Lift Motor Controller Market Report 2025

The lift motor controller market size has grown strongly in recent years. It will grow from $8.72 billion in 2024 to $9.39 billion in 2025 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period was driven by factors such as increasing urbanization and the construction of high-rise buildings, modernization of aging elevator systems, heightened emphasis on energy-efficient elevator technologies, expansion in commercial and residential real estate, and stricter safety regulations in vertical transportation.

The lift motor controller market size is expected to see strong growth in the next few years. It will grow to $12.44 billion in 2029 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period is expected to be fueled by the rising adoption of smart building technologies, greater integration of the Internet of Things (IoT) in elevator systems, increased demand for energy-efficient elevator operations, ongoing urban redevelopment and retrofit initiatives, and growing investments in green and vertical infrastructure. Key trends forecasted include advancements in compact and energy-saving variable frequency drive (VFD) controllers, the development of elevator drive interfaces supporting universal serial bus Type-C, innovations in predictive maintenance and diagnostic capabilities, improvements in regenerative braking systems for energy recovery, and the creation of motor control solutions integrated with artificial intelligence.

The increasing demand for sustainable building practices is expected to drive growth in the lift motor controller market. Sustainable building practices focus on designing, constructing, and operating buildings in ways that reduce environmental impact and resource consumption while improving energy efficiency and occupant comfort. This demand is rising due to stricter environmental regulations aimed at cutting carbon emissions in the construction industry. Lift motor controllers contribute to sustainable buildings by optimizing energy use through adjusting motor speed and power based on load and demand, thereby lowering electricity consumption and environmental footprint. For example, in December 2024, a report by the Green Building Council Australia highlighted that the Australian building sector surpassed 1,000 buildings, fit outs, and precincts awarded green star certification for sustainability achievements in 2024. Furthermore, submissions for these certifications doubled compared to 2023, with over 120 project applications and more than 150 inquiries recorded within three months. As a result, the rising focus on sustainable building practices is propelling growth in the lift motor controller market.

Leading companies in the lift motor controller market are developing advanced solutions such as variable frequency drives (VFDs) to boost operational efficiency, enhance passenger safety, and support predictive maintenance. VFDs are electronic devices that control the speed and torque of elevator motors by adjusting input frequency and voltage, enabling smoother operation, lower energy use, and better ride quality. For instance, in December 2023, Invertek Drives Ltd, a UK-based electric motor control technology manufacturer, launched the Optidrive Elevator Core. This VFD is notable for its compact design, simple installation, and a pioneering USB-C connection that allows configuration and powering via a mobile phone or tablet without needing mains electricity. It also features an integrated data recorder accessible without external power, offering greater convenience for engineers working in tight elevator shaft spaces.

In February 2025, Mition GmbH Mittelstandsbeteiligungen, a Germany-based investment firm, acquired Detlef Klinkhammer Steuerungen und Komponenten für Aufzüge (KLST) for an undisclosed sum. This acquisition aims to expand Mition’s portfolio by adding an established supplier of lift control systems, control cabinets, and related components. KLST is a German company specializing in the development and manufacture of control systems for elevators.

Major players in the lift motor controller market are Siemens AG, Hitachi Ltd., Schneider Electric SE, Mitsubishi Electric Corp., ABB Ltd., Toshiba Corporation, Johnson Controls International Plc, Nidec Corporation, Otis Elevator Company, Schindler Group, KONE Corporation, Danfoss Inc., TK Elevator, WEG ON, Yaskawa Electric Corporation, Hyundai Elevator Co. Ltd., Columbus McKinnon, Maxon Group, Fujitec Co. Ltd., and Shenzhen Gozuk Co. Ltd.

North America was the largest region in the lift motor controller market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in lift motor controller report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the lift motor controller market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s recommendations and conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

The rapid escalation of U.S. tariffs and the resulting trade tensions in spring 2025 are significantly impacting the construction sector, particularly in materials procurement and project costs. Higher duties on imported steel, aluminum, lumber, and machinery have driven up expenses for builders, contractors, and infrastructure developers, leading to increased project bids and delayed timelines. Construction equipment manufacturers face similar challenges, with tariffs on essential components and raw materials inflating production costs and squeezing margins. Additionally, retaliatory tariffs in international markets have curtailed exports of U.S.-made construction equipment and materials, further affecting profitability. The sector must now prioritize local sourcing, modular construction techniques, and supply chain diversification to control costs and ensure project viability amid ongoing trade uncertainties.

A lift motor controller is a device responsible for managing the elevator’s motor system by controlling its speed, direction, and stopping functions. It facilitates smooth and efficient movement of the elevator car by coordinating signals among components such as sensors, switches, and drive systems. Additionally, the controller is essential for passenger safety by monitoring system performance and responding to operational commands.

The primary types of lift motor controllers include alternating current (AC) controllers, direct current (DC) controllers, and variable frequency drive (VFD) controllers. AC lift motor controllers are built to operate motors powered by alternating current, which is commonly used in modern buildings. These controllers utilize technologies such as microcontroller-based systems, digital signal processors (DSP), and analog control methods, and are available for both new installations and retrofits. They are distributed through direct sales, distributors, online platforms, and retail outlets, serving various end users such as real estate developers, construction firms, manufacturing plants, transportation sectors, and logistics and warehousing companies.

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

The lift motor controller market consists of revenues earned by entities by providing services such as elevator speed regulation, energy-efficient motor control, and intelligent floor destination management. The market value includes the value of related goods sold by the service provider or included within the service offering. The lift motor controller market also includes sales of microcontroller-based controllers, digital signal processor (DSP) controllers, soft starters, and programmable logic controllers (PLCs). 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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