Commercial Hydraulic Elevators Market Report 2025

The commercial hydraulic elevators market size has grown strongly in recent years. It will grow from $8.58 billion in 2024 to $9.16 billion in 2025 at a compound annual growth rate (CAGR) of 6.7%. The growth during the historic period can be attributed to increased construction of high-rise buildings, a rise in renovation and retrofit projects, higher government infrastructure spending, growth in low- to mid-rise building construction, and increased population density in smaller cities.

The commercial hydraulic elevators market size is expected to see strong growth in the next few years. It will grow to $11.7 billion in 2029 at a compound annual growth rate (CAGR) of 6.3%. The growth expected in the forecast period can be linked to urban infrastructure development, rising demand for mid-rise buildings, growing renovation of commercial spaces, increased adoption in shopping malls and hotels, and advancements in energy-efficient elevator systems. Key trends anticipated during the forecast period include progress in energy-efficient elevator technologies, development of smart elevator systems, innovations in space-saving hydraulic designs, improvements in noise reduction mechanisms, and the creation of eco-friendly hydraulic fluids.

The rising construction of office spaces is projected to contribute significantly to the growth of the commercial hydraulic elevators market. Office space construction entails the planning, designing, and building of functional and comfortable environments suited for business operations. This increase is driven by the growing need from expanding businesses for more workspace to support staff and operational requirements. Commercial hydraulic elevators offer a cost-effective and space-efficient vertical transportation solution, enhancing building accessibility and functionality in these developments. For example, in July 2025, the U.S. Census Bureau reported that office construction spending in the United States reached $42.24 billion in 2024, reflecting a 1.7% increase from $41.53 billion in 2023. As a result, the rise in office space construction is propelling the commercial hydraulic elevators market forward.

Leading companies in the commercial hydraulic elevators market are investing in innovative products such as hybrid hydraulic elevators with 360° panoramic views to enhance energy efficiency and provide modern visual appeal in commercial settings. These elevators combine advanced hydraulic technology with transparent glass structures to offer smooth operation and a full view of the surroundings, making them ideal for contemporary commercial and public spaces. For instance, in March 2025, BRIO Elevators, an India-based vertical mobility solutions provider, launched the Brio BE360, India’s first hybrid hydraulic home elevator with a 360° panoramic glass design. Intended for luxury homes and compact commercial areas, it features pit-free and machine-room-free installation, aligning with modern architectural trends and retrofitting needs. With its quiet operation, efficient use of space, and adherence to European safety standards, the BE360 merges design, safety, and technology, positioning itself as a high-end vertical mobility solution for boutique and upscale environments.

In May 2025, Savaria Corporation, a Canadian manufacturer of personal mobility products, acquired Western Elevator Ltd. for an undisclosed sum. Through this acquisition, Savaria aims to expand its market presence, strengthen its service network in high-demand areas, and accelerate growth within the premium home accessibility market by leveraging Western Elevator’s established regional reputation and customer relationships. Western Elevator Ltd. is a Canadian company specializing in the manufacture of commercial hydraulic elevators.

Major players in the commercial hydraulic elevators market are Mitsubishi Electric Corporation, Toshiba Corporation, Schindler Group, TK Elevator GmbH, Bucher Hydraulics AG, Savaria Corporation, Orona Group S. Coop., Delta Elevator Co Ltd., Fujitec Co. Ltd., Escon Elevators Pvt. Ltd., IGV Group S.r.l., Otis Elevator Company, Johnson Lifts Pvt. Ltd., IFE Elevators Co. Ltd., GMV-North America Inc., ICARE LIFT SYSTEM, Emperor Lifts, Krupa Elevators, Fox Elevators, J S Elevators.

Asia-Pacific was the largest region in the commercial hydraulic elevators market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in commercial hydraulic elevators report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the commercial hydraulic elevators 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 swift increase in U.S. tariffs and the ensuing trade tensions in spring 2025 are significantly affecting the machinery sector by increasing costs for steel, hydraulic systems, and precision bearings critical components often imported from tariff-affected regions. Manufacturers of construction, agricultural, and industrial machinery now face squeezed margins, as many long-term contracts prevent immediate price adjustments. The uncertainty has also delayed investment in automation and smart machinery technologies, slowing productivity gains. To adapt, firms are accelerating local supplier development, redesigning products to use alternative materials, and leveraging predictive maintenance to extend equipment lifespans amid higher replacement costs.

A commercial hydraulic elevator is a type of elevator frequently used in low- to mid-rise buildings that functions via a hydraulic system, where an electric motor pumps fluid into a cylinder to move a piston, which raises and lowers the elevator cab. These elevators are recognized for their smooth and quiet operation, high lifting capacity, and comparatively low installation cost, particularly in buildings up to six stories.

The primary product categories of commercial hydraulic elevators include conventional hydraulic elevators, hole-less hydraulic elevators, and roped hydraulic elevators. Conventional hydraulic elevators utilize an underground piston system to provide smooth and reliable lifts for low- to mid-rise buildings, making them suitable for heavy-duty commercial applications, though they require more space and excavation. They operate through various control systems such as manual controls, automatic controls, smart building integration systems, and remote monitoring and control systems. They offer several load capacities, including small load capacity, medium load capacity (1000 to 2000 kilograms), and heavy load capacity (over 2000 kilograms), with key end-users comprising shopping malls, office buildings, airports, and more.

The commercial hydraulic elevators market research report is one of a series of new reports that provides commercial hydraulic elevators market statistics, including the commercial hydraulic elevators industry global market size, regional shares, competitors with the commercial hydraulic elevators market share, detailed commercial hydraulic elevators market segments, market trends, and opportunities, and any further data you may need to thrive in the commercial hydraulic elevators industry. These commercial hydraulic elevators 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 commercial hydraulic elevators market consists of sales of hydraulic power units, control panels and circuit boards, guide rails and brackets, valve assemblies and hall stations, and car operating panels (COPs). 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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