Energy Efficient Elevators Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Energy Efficient Elevators Market is Segmented by Control System (Elevator Control System, Access Control System), Automation System (Motors and Drivers, Sensors and Controllers, Building Management Systems), End User (Industrial, Commercial, Residential), and Geography.

Energy Efficient Elevators Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Energy Efficient Elevators Market Size

Energy Efficient Elevators Market Size
Study Period 2019 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
CAGR 15.14 %
Fastest Growing Market Europe
Largest Market North America
Market Concentration Low

Major Players

Energy Efficient Elevators Market Key Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Energy Efficient Elevators Market with other markets in Technology, Media and Telecom Industry

Automation

Digital Commerce

Electronics

Information Technology

Media and Entertainment

Security & Surveillance

Energy Efficient Elevators Market Analysis

The Energy Efficient Elevators Market is expected to register a CAGR of 15.14% during the forecast period.

  • Due to the increasing demand for energy-efficient systems, the energy-efficient elevators market is expected to witness considerable growth in the coming years, owing to the growing need for commercial energy management systems and residential energy management systems. ThyssenKrupp Elevator Company installed 73 elevators in the World Trade Center, New York, along with the energy management software and controls to monitor and reduce energy consumption.
  • Due to mounting electricity prices, especially in high-traffic applications, various advanced technologies (such as destination dispatching and access control systems) are being used to reduce energy consumption.
  • Owing to the increasing incidences of COVID-19, the Government across the globe are focusing on building quarantine centers, and hospitals to stop the spreading of the virus. These newly developed buildings will create opportunities for the manufacturers to supply the energy-efficient elevators for hassle-free patient management.
  • The COVID-19 has impacted the elevator manufacturing in a greater way. For instance, Thyssenkrupp, which is a significant player in the market, has suspended production at its German elevator factory after two employees tested positive for the rapidly spreading coronavirus. Another elevator manufacturer, Kone, said that the coronavirus is expected to have a major impact on the company's Q1 sales and other operating results. However, the company has stated that its maintenance & installation services in Italy will continue with some exceptions.
  • The major restraints of the energy efficient elevators market are the lack of information and awareness of the actual electricity consumption of elevator systems, the lack of information and awareness of the energy-efficient technologies in the market, and the low state of knowledge on the economic efficiency of the technological measures.

Energy Efficient Elevators Industry Overview

The energy efficient elevators market is fragmented, with the players focusing on integrating advanced technologies like IoT, offering products catering to the latest trend of smart city development. A combination of accelerating growth in the end-user applications and continuous technological advancements results in a strong rivalry in the market. The key players are Hitachi Ltd, Mitsubishi Electric Corporation, Hyundai Elevators Co. Ltd, etc. The recent developments in the market are:

  • June 2019 - Hitachi announced a contract with Phoenix Group to supply a total of 106 elevator units. Through this contract, the company will supply elevators for large-scale office buildings, Phoenix Spaces 285 and Phoenix Aquila, which are to be constructed in Hyderabad.
  • March 2019 - Mitsubishi Electric Corporation announced that its subsidiary, Mitsubishi Elevator India Private Limited (IMEC), will launch the NEXIEZ-LITE MRL elevator. This Indian-produced model does not require a machine room. The model will be added to the NEXIEZ-LITE series of elevators for midrise and low-rise residences, office buildings, and hotels in India.
  • February 2019 - KONE Corporation, which is a prominent player in the elevator and escalator industry, received an order to provide energy-efficient elevators and a destination control system for an office tower that is under construction at Vancouver, BC, Canada. The project consists of a 25-story building with the ground floor as a retail space and 24 levels of office space.

Energy Efficient Elevators Market Leaders

  1. Hitachi, Ltd.

  2. Mitsubishi Electric Corporation

  3. Hyundai Elevators Co., Ltd

  4. Fujitec Co., Ltd

  5. Honeywell International, Inc.

  6. *Disclaimer: Major Players sorted in no particular order
"Hitachi, Ltd.,  Mitsubishi Electric Corporation,  Hyundai Elevators Co., Ltd,  Fujitec Co., Ltd,  Honeywell International, Inc."
Need More Details on Market Players and Competiters?
Download PDF

Energy Efficient Elevators Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions and Market Definition
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

  • 4.1 Market Overview
  • 4.2 Market Drivers
    • 4.2.1 Increasing Demand for Energy Efficient Systems
    • 4.2.2 Due to Mounting Electricity Prices in High-traffic Applications
  • 4.3 Market Restraints
    • 4.3.1 Lack of Information and Awareness in Electricity Consumption Rate and Lack of Technological Efficiency
  • 4.4 Market Opportunities
  • 4.5 Industry Value Chain Analysis
  • 4.6 Porter's Five Force Analysis
    • 4.6.1 Threat of New Entrants
    • 4.6.2 Bargaining Power of Buyers/Consumers
    • 4.6.3 Bargaining Power of Suppliers
    • 4.6.4 Threat of Substitute Products
    • 4.6.5 Intensity of Competitive Rivalry
  • 4.7 Impact of COVID-19 on the Energy Efficient Elevators Market

5. MARKET SEGMENTATION

  • 5.1 Control Systems
    • 5.1.1 Elevator Control System
    • 5.1.2 Access Control System
    • 5.1.2.1 Card-based Access Control Systems
    • 5.1.2.2 Biometric Access Control Solutions
    • 5.1.2.3 Keypad-based Access Control Systems
  • 5.2 Automation Systems
    • 5.2.1 Motors and Drivers
    • 5.2.2 Sensors and Controllers
    • 5.2.3 Building Management Systems
  • 5.3 End User
    • 5.3.1 Industrial
    • 5.3.2 Commercial
    • 5.3.3 Residential
    • 5.3.4 Other End Users
  • 5.4 Geography
    • 5.4.1 North America
    • 5.4.1.1 United States
    • 5.4.1.2 Canada
    • 5.4.2 Europe
    • 5.4.2.1 Germany
    • 5.4.2.2 United Kingdom
    • 5.4.2.3 France
    • 5.4.2.4 Russia
    • 5.4.2.5 Rest of Europe
    • 5.4.3 Asia Pacific
    • 5.4.3.1 China
    • 5.4.3.2 Japan
    • 5.4.3.3 India
    • 5.4.3.4 Rest of Asia Pacific
    • 5.4.4 Latin America
    • 5.4.4.1 Brazil
    • 5.4.4.2 Mexico
    • 5.4.4.3 Argentina
    • 5.4.4.4 Rest of Latin America
    • 5.4.5 Middle East and Africa
    • 5.4.5.1 Saudi Arabia
    • 5.4.5.2 United Arab Emirates
    • 5.4.5.3 South Africa
    • 5.4.5.4 Rest of Middle East and Africa

6. COMPETITIVE LANDSCAPE

  • 6.1 Company Profiles
    • 6.1.1 Hitachi Ltd
    • 6.1.2 Mitsubishi Electric Corporation
    • 6.1.3 Fujitec Co. Ltd
    • 6.1.4 KONE
    • 6.1.5 Schindler group
    • 6.1.6 OTIS Elevator Company
    • 6.1.7 Hyundai elevators Co. Ltd
    • 6.1.8 Thyssen Elevators Co. Ltd
    • 6.1.9 Honeywell international
  • *List Not Exhaustive
  • 6.2 * LIST NOT EXHAUSTIVE

7. INVESTMENT ANALYSIS

8. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
You Can Purchase Parts Of This Report. Check Out Prices For Specific Sections
Get Price Break-up Now

Energy Efficient Elevators Industry Segmentation

The energy efficient elevators industry is influenced by the increased demand in the emerging markets and widening applications. A traction elevator travels up and down on a steel rope and has a counterweight on the other end. These are more energy-efficient than hydraulic hoists. By replacing the outdated hardware and investing in some of the sophisticated software, the building owners can make immediate and substantial energy savings.

Control Systems Elevator Control System
Access Control System Card-based Access Control Systems
Biometric Access Control Solutions
Keypad-based Access Control Systems
Automation Systems Motors and Drivers
Sensors and Controllers
Building Management Systems
End User Industrial
Commercial
Residential
Other End Users
Geography North America United States
Canada
Europe Germany
United Kingdom
France
Russia
Rest of Europe
Asia Pacific China
Japan
India
Rest of Asia Pacific
Latin America Brazil
Mexico
Argentina
Rest of Latin America
Middle East and Africa Saudi Arabia
United Arab Emirates
South Africa
Rest of Middle East and Africa
Need A Different Region or Segment?
Customize Now

Energy Efficient Elevators Market Research FAQs

What is the current Energy Efficient Elevators Market size?

The Energy Efficient Elevators Market is projected to register a CAGR of 15.14% during the forecast period (2025-2030)

Who are the key players in Energy Efficient Elevators Market?

Hitachi, Ltd., Mitsubishi Electric Corporation, Hyundai Elevators Co., Ltd, Fujitec Co., Ltd and Honeywell International, Inc. are the major companies operating in the Energy Efficient Elevators Market.

Which is the fastest growing region in Energy Efficient Elevators Market?

Europe is estimated to grow at the highest CAGR over the forecast period (2025-2030).

Which region has the biggest share in Energy Efficient Elevators Market?

In 2025, the North America accounts for the largest market share in Energy Efficient Elevators Market.

What years does this Energy Efficient Elevators Market cover?

The report covers the Energy Efficient Elevators Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Energy Efficient Elevators Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Energy Efficient Elevators Industry Report

Statistics for the 2025 Energy Efficient Elevators market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Energy Efficient Elevators analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.