Residential Elevators Market Size, Share & Trends Analysis Report By Type (Hydraulic, Traction, Machine Room-Less Traction), By Business (New Equipment, Maintenance, Modernization), By Region, And Segment Forecasts, 2025 - 2033
Description
Residential Elevators Market Summary
The global residential elevators market size was estimated at USD 54.61 billion in 2024 and is projected to reach USD 100.79 billion by 2033, growing at a CAGR of 7.1% from 2025 to 2033. Rising urbanization and the increasing construction of multi-story residential buildings are boosting demand for residential elevators.
Aging populations in developed regions are also driving adoption, as elevators enhance mobility and convenience at home. Consumers increasingly prefer luxury and smart home features, encouraging manufacturers to innovate. Technological advancements, such as energy-efficient and space-saving elevator designs, are attracting more residential buyers. Government regulations promoting accessibility in housing further support market growth. The trend of integrating smart elevators with home automation systems is gaining traction. Moreover, rising real estate development in emerging economies is expanding the residential elevator market globally.
Global Residential Elevators Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Grand View Research has segmented the global residential elevators market report based on type, business, and region.
The global residential elevators market size was estimated at USD 54.61 billion in 2024 and is projected to reach USD 100.79 billion by 2033, growing at a CAGR of 7.1% from 2025 to 2033. Rising urbanization and the increasing construction of multi-story residential buildings are boosting demand for residential elevators.
Aging populations in developed regions are also driving adoption, as elevators enhance mobility and convenience at home. Consumers increasingly prefer luxury and smart home features, encouraging manufacturers to innovate. Technological advancements, such as energy-efficient and space-saving elevator designs, are attracting more residential buyers. Government regulations promoting accessibility in housing further support market growth. The trend of integrating smart elevators with home automation systems is gaining traction. Moreover, rising real estate development in emerging economies is expanding the residential elevator market globally.
Global Residential Elevators Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Grand View Research has segmented the global residential elevators market report based on type, business, and region.
- Type Outlook (Revenue, USD Billion, 2021 - 2033)
- Hydraulic
- Traction
- Machine Room-Less Traction
- Others
- Business Outlook (Revenue, USD Billion, 2021 - 2033)
- New Equipment
- Maintenance
- Modernization
- Region Outlook (Revenue, USD Billion, 2021 - 2033)
- North America
- U.S.
- Canada
- Mexico
- Europe
- France
- Germany
- Italy
- Spain
- UK
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Latin America
- Brazil
- Argentina
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
Table of Contents
100 Pages
- Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definition
- 1.3. Information Procurement
- 1.3.1. Purchased Database
- 1.3.2. GVR’s Internal Database
- 1.3.3. Secondary Sources & Third-Party Perspectives
- 1.3.4. Primary Research
- 1.4. Information Analysis
- 1.4.1. Data Analysis Models
- 1.5. Market Formulation & Data Visualization
- 1.6. Data Validation & Publishing
- Chapter 2. Executive Summary
- 2.1. Market Snapshot
- 2.2. Segment Snapshot
- 2.3. Competitive Landscape Snapshot
- Chapter 3. Global Residential Elevators Market Variables, Trends & Scope
- 3.1. Market Lineage Outlook
- 3.2. Concentration & Growth Prospect Mappin
- 3.3. Industry Value Chain Analysis
- 3.4. Regulatory Framework
- 3.5. Market Dynamics
- 3.5.1. Market Driver Analysis
- 3.5.2. Market Restraint Analysis
- 3.5.3. Market Challenge Analysis
- 3.5.4. Market Opportunity Analysis
- 3.6. Industry Analysis Tools
- 3.6.1. Porter’s Five Forces Analysis
- 3.6.2. Macro-environmental Analysis
- 3.7. Economic Mega Trend Analysis
- 3.8. Vendor Matrix
- 3.8.1. List of Key Raw Material/Component Suppliers
- 3.8.2. List of Key Manufacturers
- 3.8.3. List of Key Distributors
- Chapter 4. Global Residential Elevators Market: Type Estimates & Trend Analysis
- 4.1. Type Movement Analysis & Market Share, 2024 & 2033
- 4.2. Global Residential Elevators Market Estimates & Forecast, By Type, 2021 to 2033 (USD Billion)
- 4.3. Hydraulic
- 4.3.1. Market estimates and forecasts, 2021 - 2033 (USD Billion)
- 4.4. Traction
- 4.4.1. Market estimates and forecasts, 2021 - 2033 (USD Billion)
- 4.5. Machine Room-Less Traction
- 4.5.1. Market estimates and forecasts, 2021 - 2033 (USD Billion)
- 4.6. Others
- 4.6.1. Market estimates and forecasts, 2021 - 2033 (USD Billion)
- Chapter 5. Global Residential Elevators Market: Business Estimates & Trend Analysis
- 5.1. Business Movement Analysis & Market Share, 2024 & 2033
- 5.2. Global Residential Elevators Market Estimates & Forecast, By Business, 2021 to 2033 (USD Billion)
- 5.3. New Equipment
- 5.3.1. Market estimates and forecasts, 2021 - 2033 (USD Billion)
- 5.4. Maintenance
- 5.4.1. Market estimates and forecasts, 2021 - 2033 (USD Billion)
- 5.5. Modernization
- 5.5.1. Market estimates and forecasts, 2021 - 2033 (USD Billion)
- Chapter 6. Global Residential Elevators Market: Regional Estimates & Trend Analysis
- 6.1. Regional Movement Analysis & Market Share, 2024 & 2033
- 6.2. North America
- 6.2.1. North America residential elevators market estimates & forecast, 2021 - 2033 (USD Billion)
- 6.2.2. North America residential elevators market estimates & forecast, By Type, 2021 - 2033 (USD Billion)
- 6.2.3. North America residential elevators market estimates & forecast, By Business, 2021 - 2033 (USD Billion)
- 6.2.4. U.S.
- 6.2.4.1. Key country dynamics
- 6.2.4.2. U.S. residential elevators market estimates & forecast, 2021 - 2033 (USD Billion)
- 6.2.4.3. U.S. residential elevators market estimates & forecast, By Type, 2021 - 2033 (USD Billion)
- 6.2.4.4. U.S. residential elevators market estimates & forecast, By Business, 2021 - 2033 (USD Billion)
- 6.2.5. Canada
- 6.2.5.1. Key country dynamics
- 6.2.5.2. Canada residential elevators market estimates & forecast, 2021 - 2033 (USD Billion)
- 6.2.5.3. Canada residential elevators market estimates & forecast, By Type, 2021 - 2033 (USD Billion)
- 6.2.5.4. Canada residential elevators market estimates & forecast, By Business, 2021 - 2033 (USD Billion)
- 6.2.6. Mexico
- 6.2.6.1. Key country dynamics
- 6.2.6.2. Mexico residential elevators market estimates & forecast, 2021 - 2033 (USD Billion)
- 6.2.6.3. Mexico residential elevators market estimates & forecast, By Type, 2021 - 2033 (USD Billion)
- 6.2.6.4. Mexico residential elevators market estimates & forecast, By Business, 2021 - 2033 (USD Billion)
- 6.3. Europe
- 6.3.1. Europe Global residential elevators market estimates & forecast, 2021 - 2033 (USD Billion)
- 6.3.2. Europe Global residential elevators market estimates & forecast, By Type, 2021 - 2033 (USD Billion)
- 6.3.3. Europe Global residential elevators market estimates & forecast, By Business, 2021 - 2033 (USD Billion)
- 6.3.4. Germany
- 6.3.4.1. Key country dynamics
- 6.3.4.2. Germany residential elevators market estimates & forecast, 2021 - 2033 (USD Billion)
- 6.3.4.3. Germany residential elevators market estimates & forecast, By Type, 2021 - 2033 (USD Billion)
- 6.3.4.4. Germany residential elevators market estimates & forecast, By Business, 2021 - 2033 (USD Billion)
- 6.3.5. France
- 6.3.5.1. Key country dynamics
- 6.3.5.2. France residential elevators market estimates & forecast, 2021 - 2033 (USD Billion)
- 6.3.5.3. France residential elevators market estimates & forecast, By Type, 2021 - 2033 (USD Billion)
- 6.3.5.4. France residential elevators market estimates & forecast, By Business, 2021 - 2033 (USD Billion)
- 6.3.6. Spain
- 6.3.6.1. Key country dynamics
- 6.3.6.2. Spain residential elevators market estimates & forecast, 2021 - 2033 (USD Billion)
- 6.3.6.3. Spain residential elevators market estimates & forecast, By Type, 2021 - 2033 (USD Billion)
- 6.3.6.4. Spain residential elevators market estimates & forecast, By Business, 2021 - 2033 (USD Billion)
- 6.3.7. UK
- 6.3.7.1. Key country dynamics
- 6.3.7.2. UK residential elevators market estimates & forecast, 2021 - 2033 (USD Billion)
- 6.3.7.3. UK residential elevators market estimates & forecast, By Type, 2021 - 2033 (USD Billion)
- 6.3.7.4. UK residential elevators market estimates & forecast, By Business, 2021 - 2033 (USD Billion)
- 6.3.8. Italy
- 6.3.8.1. Key country dynamics
- 6.3.8.2. Italy residential elevators market estimates & forecast, 2021 - 2033 (USD Billion)
- 6.3.8.3. Italy residential elevators market estimates & forecast, By Type, 2021 - 2033 (USD Billion)
- 6.3.8.4. Italy residential elevators market estimates & forecast, By Business, 2021 - 2033 (USD Billion)
- 6.4. Asia Pacific
- 6.4.1. Asia Pacific Global Residential Elevators Market Estimates & Forecast, 2021 - 2033 (USD Billion)
- 6.4.2. Asia Pacific Global Residential Elevators Market Estimates & Forecast, By Type, 2021 - 2033 (USD Billion)
- 6.4.3. Asia Pacific Global Residential Elevators Market Estimates & Forecast, By Business, 2021 - 2033 (USD Billion)
- 6.4.4. China
- 6.4.4.1. Key country dynamics
- 6.4.4.2. China residential elevators market estimates & forecast, 2021 - 2033 (USD Billion)
- 6.4.4.3. China residential elevators market estimates & forecast, By Type, 2021 - 2033 (USD Billion)
- 6.4.4.4. China residential elevators market estimates & forecast, By Business, 2021 - 2033 (USD Billion)
- 6.4.5. Japan
- 6.4.5.1. Key country dynamics
- 6.4.5.2. Japan residential elevators market estimates & forecast, 2021 - 2033 (USD Billion)
- 6.4.5.3. Japan residential elevators market estimates & forecast, By Type, 2021 - 2033 (USD Billion)
- 6.4.5.4. Japan residential elevators market estimates & forecast, By Business, 2021 - 2033 (USD Billion)
- 6.4.6. India
- 6.4.6.1. Key country dynamics
- 6.4.6.2. India residential elevators market estimates & forecast, 2021 - 2033 (USD Billion)
- 6.4.6.3. India residential elevators market estimates & forecast, By Type, 2021 - 2033 (USD Billion)
- 6.4.6.4. India residential elevators market estimates & forecast, By Business, 2021 - 2033 (USD Billion)
- 6.4.7. Australia
- 6.4.7.1. Key country dynamics
- 6.4.7.2. Australia residential elevators market estimates & forecast, 2021 - 2033 (USD Billion)
- 6.4.7.3. Australia residential elevators market estimates & forecast, By Type, 2021 - 2033 (USD Billion)
- 6.4.7.4. Australia residential elevators market estimates & forecast, By Business, 2021 - 2033 (USD Billion)
- 6.4.8. South Korea
- 6.4.8.1. Key country dynamics
- 6.4.8.2. South Korea residential elevators market estimates & forecast, 2021 - 2033 (USD Billion)
- 6.4.8.3. South Korea residential elevators market estimates & forecast, By Type, 2021 - 2033 (USD Billion)
- 6.4.8.4. South Korea residential elevators market estimates & forecast, By Business, 2021 - 2033 (USD Billion)
- 6.5. Latin America
- 6.5.1. Latin America Global Residential Elevators Market Estimates & Forecast, 2021 - 2033 (USD Billion)
- 6.5.2. Latin America Global Residential Elevators Market Estimates & Forecast, By Type, 2021 - 2033 (USD Billion)
- 6.5.3. Latin America Global Residential Elevators Market Estimates & Forecast, By Business, 2021 - 2033 (USD Billion)
- 6.5.4. Brazil
- 6.5.4.1. Key country dynamics
- 6.5.4.2. Brazil residential elevators market estimates & forecast, 2021 - 2033 (USD Billion)
- 6.5.4.3. Brazil residential elevators market estimates & forecast, By Type, 2021 - 2033 (USD Billion)
- 6.5.4.4. Brazil residential elevators market estimates & forecast, By Business, 2021 - 2033 (USD Billion)
- 6.5.5. Argentina
- 6.5.5.1. Key country dynamics
- 6.5.5.2. Argentina residential elevators market estimates & forecast, 2021 - 2033 (USD Billion)
- 6.5.5.3. Argentina residential elevators market estimates & forecast, By Type, 2021 - 2033 (USD Billion)
- 6.5.5.4. Argentina residential elevators market estimates & forecast, By Business, 2021 - 2033 (USD Billion)
- 6.6. Middle East & Africa
- 6.6.1. Middle East & Africa Global Residential Elevators Market Estimates & Forecast, 2021 - 2033 (USD Billion)
- 6.6.2. Middle East & Africa Global Residential Elevators Market Estimates & Forecast, By Type, 2021 - 2033 (USD Billion)
- 6.6.3. Middle East & Africa Global Residential Elevators Market Estimates & Forecast, By Business, 2021 - 2033 (USD Billion)
- 6.6.4. Saudi Arabia
- 6.6.4.1. Key country dynamics
- 6.6.4.2. Saudi Arabia residential elevators market estimates & forecast, 2021 - 2033 (USD Billion)
- 6.6.4.3. Saudi Arabia residential elevators market estimates & forecast, By Type, 2021 - 2033 (USD Billion)
- 6.6.4.4. Saudi Arabia residential elevators market estimates & forecast, By Business, 2021 - 2033 (USD Billion)
- 6.6.5. UAE
- 6.6.5.1. Key country dynamics
- 6.6.5.2. UAE residential elevators market estimates & forecast, 2021 - 2033 (USD Billion)
- 6.6.5.3. UAE residential elevators market estimates & forecast, By Type, 2021 - 2033 (USD Billion)
- 6.6.5.4. UAE residential elevators market estimates & forecast, By Business, 2021 - 2033 (USD Billion)
- 6.6.6. South Africa
- 6.6.6.1. Key country dynamics
- 6.6.6.2. South Africa residential elevators market estimates & forecast, 2021 - 2033 (USD Billion)
- 6.6.6.3. South Africa residential elevators market estimates & forecast, By Type, 2021 - 2033 (USD Billion)
- 6.6.6.4. South Africa residential elevators market estimates & forecast, By Business, 2021 - 2033 (USD Billion)
- Chapter 7. Global Residential Elevators Market - Competitive Landscape
- 7.1. Recent Developments & Impact Analysis, By Key Market Participants
- 7.2. Company Categorization
- 7.3. Company Market Share Analysis, 2024
- 7.4. Company Market Positioning
- 7.5. Competitive Dashboard Analysis
- 7.6. Company Heat Map Analysis, 2024
- 7.7. Strategy Mapping
- 7.7.1. Expansion
- 7.7.2. Mergers & Acquisition
- 7.7.3. Partnerships & Collaborations
- 7.7.4. New Product Launches
- 7.7.5. Research And Development
- 7.8. Company Profiles
- 7.8.1. Otis Worldwide Corporation
- 7.8.1.1. Participant’s overview
- 7.8.1.2. Financial performance
- 7.8.1.3. Product benchmarking
- 7.8.1.4. Recent developments
- 7.8.2. Schindler
- 7.8.2.1. Participant’s overview
- 7.8.2.2. Financial performance
- 7.8.2.3. Product benchmarking
- 7.8.2.4. Recent developments
- 7.8.3. KONE Corporation
- 7.8.3.1. Participant’s overview
- 7.8.3.2. Financial performance
- 7.8.3.3. Product benchmarking
- 7.8.3.4. Recent developments
- 7.8.4. Hitachi Ltd.
- 7.8.4.1. Participant’s overview
- 7.8.4.2. Financial performance
- 7.8.4.3. Product benchmarking
- 7.8.4.4. Recent developments
- 7.8.5. HYUNDAIELEVATOR CO.,LTD.
- 7.8.5.1. Participant’s overview
- 7.8.5.2. Financial performance
- 7.8.5.3. Product benchmarking
- 7.8.5.4. Recent developments
- 7.8.6. Mitsubishi Electric Corporation
- 7.8.6.1. Participant’s overview
- 7.8.6.2. Financial performance
- 7.8.6.3. Product benchmarking
- 7.8.6.4. Recent developments
- 7.8.7. Toshiba Group
- 7.8.7.1. Participant’s overview
- 7.8.7.2. Financial performance
- 7.8.7.3. Product benchmarking
- 7.8.7.4. Recent developments
- 7.8.8. FUJITEC CO., LTD.
- 7.8.8.1. Participant’s overview
- 7.8.8.2. Financial performance
- 7.8.8.3. Product benchmarking
- 7.8.8.4. Recent developments
- 7.8.9. Aritco Lift AB
- 7.8.9.1. Participant’s overview
- 7.8.9.2. Financial performance
- 7.8.9.3. Product benchmarking
- 7.8.9.4. Recent developments
- 7.8.10. EMAK
- 7.8.10.1. Participant’s overview
- 7.8.10.2. Financial performance
- 7.8.10.3. Product benchmarking
- 7.8.10.4. Recent developments
- 7.8.11. TK Elevator
- 7.8.11.1. Participant’s overview
- 7.8.11.2. Financial performance
- 7.8.11.3. Product benchmarking
- 7.8.11.4. Recent developments
- 7.8.12. Schindler Group
- 7.8.12.1. Participant’s overview
- 7.8.12.2. Financial performance
- 7.8.12.3. Product benchmarking
- 7.8.12.4. Recent developments
- 7.8.13. ESCON Elevators Pvt Limited
- 7.8.13.1. Participant’s overview
- 7.8.13.2. Financial performance
- 7.8.13.3. Product benchmarking
- 7.8.13.4. Recent developments
- 7.8.14. Electra Elevators
- 7.8.14.1. Participant’s overview
- 7.8.14.2. Financial performance
- 7.8.14.3. Product benchmarking
- 7.8.14.4. Recent developments
- 7.8.15. CANNY ELEVATOR CO, LTD.
- 7.8.15.1. Participant’s overview
- 7.8.15.2. Financial performance
- 7.8.15.3. Product benchmarking
- 7.8.15.4. Recent developments
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