Elevator Safety System Market Report 2026

The elevator safety system market size has grown strongly in recent years. It will grow from $14.33 billion in 2025 to $15.65 billion in 2026 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to urban high rise construction growth, elevator safety regulations enforcement, expansion of commercial buildings, modernization of old elevator infrastructure, increase in passenger traffic.

The elevator safety system market size is expected to see strong growth in the next few years. It will grow to $21.98 billion in 2030 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to smart building development, adoption of ai based diagnostics, growth in residential high rises, stricter safety standards, digital transformation in vertical transportation. Major trends in the forecast period include rising adoption of smart elevator safety systems, integration of iot enabled monitoring solutions, growing demand for predictive maintenance technologies, increased focus on regulatory compliance, expansion of safety retrofits in aging elevators.

The growing number of skyscrapers and multi-story buildings is expected to drive the expansion of the elevator safety system market moving forward. These tall structures, often designed for residential, commercial, or mixed-use purposes, rely on elevators to enable vertical transportation between floors. The rise in such buildings is largely due to limited urban land availability, which encourages vertical development to maximize usable space. Elevator safety systems are critical in these buildings to ensure safe and reliable vertical transport, preventing incidents such as free falls or entrapments through features such as emergency brakes and overspeed governors. For example, in January 2024, the Council on Tall Buildings and Urban Habitat, a US-based non-profit organization, reported a record 185 structures of 200 meters or taller completed in 2023, marking a 12.8% increase over the 164 completed in 2022. Therefore, the increasing construction of skyscrapers and multi-story buildings is fueling growth in the elevator safety system market.

Key companies in the elevator safety system market are focusing on innovative products such as compact safety elevator drives to improve space efficiency, energy savings, and operational reliability in modern infrastructure. Compact safety elevator drives are space-saving control systems that integrate essential safety functions such as emergency braking and overspeed protection, ensuring secure elevator operation in contemporary buildings. For instance, in November 2023, Delta Electronics Inc., a Taiwan-based provider of power and thermal management solutions, introduced the EB3000 family - next-generation elevator drives that set new standards in safety, compatibility, and ease of maintenance. These compact drives are easy to install and compatible with various elevator systems and communication protocols. Prioritizing safety, the EB3000 series features built-in Safe Torque Off (STO) and complies with the latest EN81-20 and EN81-50 elevator safety standards. They also support wireless control and maintenance via Bluetooth for efficient troubleshooting and are designed to deliver a smooth, comfortable ride.

In April 2025, Kings III Emergency Communications, a US-based company specializing in emergency communication and monitoring services, acquired LiftNet for an undisclosed amount. This acquisition aims to enhance safety, reliability, and value for critical infrastructure, commercial building owners, and property managers across North America by combining emergency response expertise with advanced real-time elevator and escalator performance monitoring. LiftNet is a US-based provider specializing in elevator safety and remote monitoring systems.

Major companies operating in the elevator safety system market are Hitachi Ltd., ThyssenKrupp AG, Mitsubishi Electric Corporation, Toshiba Corporation, Otis Worldwide Corporation, Schindler Holding AG, KONE Corporation, Hyundai Elevator Co. Ltd., Fujitec Co. Ltd., Wittur Holding GmbH, Savaria Corporation, Orona S. Coop., Kleemann Hellas S.A., Stannah Lifts Holdings Ltd., The Hilliard Corporation, Sicher Elevator Co. Ltd., Dewhurst Group plc, DoorKing Inc., Escon Elevators Private Limited, Total Door Systems Inc., C.J. Anderson & Company, Johnson Lifts Private Limited.

North America was the largest region in the elevator safety system market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the elevator safety system market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the elevator safety system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The elevator safety system market consists of sales of emergency brakes, door interlocks, control panels, buffer systems, overload sensors, emergency alarm systems, and fire emergency controls. 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.

This product will be delivered within 1-3 business days.