The global elevator market is still rising – but not without turbulence. 🏗️
Our latest Elevator Market Outlook 2030 – Spring 2026 Update reveals a market in transition. While the USD 110 billion industry is on track to reach USD 133 billion by 2030 (4% CAGR), the path there looks different than we anticipated just months ago.
Here's what's reshaping the outlook:
📉 China stalls – The downturn deepens through 2026, dragging down our revised forecast from USD 136 billion to USD 133 billion
🛑 Middle East conflict – Construction pauses across one of the world's most lucrative markets
🌍 Europe & MEA surge – Both regions lead at 5% CAGR, with Europe adding USD 9 billion in absolute value
🔧 Modernization takes center stage – The fastest-growing segment globally (7% CAGR), nearly doubling from USD 11 billion to USD 21 billion by 2030
🌏 SEA emerges as APAC's rising star – Compensating for China's decline with strong momentum across all segments
The fundamentals haven't changed: urbanization, aging infrastructure, and a growing installed base continue to drive long-term demand. The winners will be those who move early into Modernization and Maintenance – where margin expansion is real and accelerating.
🔗 Explore the full insights and our regional breakdown here:https://okt.to/zT6LKN
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