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Australia Elevator Market By Product Type (Passenger Elevator, Freight Elevator and Others), By Technology (Traction and Hydraulic), By Service (Modernization, Maintenance, and New Installation), By Capacity (Less than 1500 kg, 1501 to 2500 kg, and Others

Publisher Next Move Strategy Consulting
Published Nov 11, 2025
SKU # NMSC20696109

Description

The Australia Elevator Market was valued at USD 1,002.2 million in 2024 and is expected to reach USD 1,064.3 million by 2025. Looking ahead, the industry is projected to expand significantly, reaching USD 1,437.2 million by 2030, registering a CAGR of 6.19% from 2025 to 2030. In terms of volume, the market recorded 6,185 units in 2024, with forecasts indicating growth to 6,506 units by 2025 and further to 8,536 units by 2030, reflecting a CAGR of 5.6% over the same period.

Australia’s major cities - Sydney, Melbourne, and Brisbane are undergoing a pronounced shift toward higher density living. For example, in Canberra, approximately 73% of newly completed multi-unit dwellings were high-density apartments as of June 2024. This vertical expansion in urban centers is pushing property developers to install advanced lifts systems tailored to high-rise residential and commercial towers. Developers increasingly demand high-capacity, high-speed, and smart elevators that optimize traffic flow and enhance resident satisfaction. Combined with stronger sustainability standards, these trends create compelling opportunities for elevator manufacturers that provide technology-integrated, energy efficient, and scalable solutions.

At the same time, Australia’s federal infrastructure pipeline, which is over USD 78.29 billion committed through 2032, is supporting a steady increase in public and commercial construction. Initiatives such as the Sydney Metro expansion, substantial rail upgrades, and major healthcare facility refurbishments are generating demand for reliable, high-performance lift systems designed to handle heavy usage and meet rigorous compliance standards. For elevator companies, this sustained public sector investment represents an invaluable chance to secure long-term contracts. The key to success lies in positioning as trusted partners with robust product performance, certification capabilities, and scalable service infrastructure.

However, a significant shortage of certified lift technicians and skilled tradespeople is delaying elevator installations, upgrades, and maintenance across the country. As of October 2024, Infrastructure Australia estimated a shortfall of approximately 197,000 infrastructure workers, particularly among trades with shortages in trades and labor roles outpacing even engineers and project managers. This skilled labor gap is causing longer wait times, higher quotes from contractors, and slower modernization schedules. Many maintenance providers report they are struggling to keep up with the volume of clients, reflecting the broader infrastructure workforce challenge. The aging technician workforce, declining apprentice numbers, and lagging vocational training are all exacerbating these bottlenecks. As a result, project costs are rising and timelines extended, creating a major restraint for the Australia elevator market.

On the other hand, Australia presents a significant opportunity in retrofitting aging elevator systems. As of October 2024, there are around 200,000 elevators and escalators operating across Australia, with approximately 25% over 15 years old, meaning around 50,000 units nearing or past mid-life. These aging systems often lack modern performance, safety, and energy efficiency standards, making full replacements costly and disruptive. Retrofitting, through modular upgrades to controllers, hoisting units, energy systems, and cabin interiors offers a cost-effective alternative. KONE reports such modernization can deliver up to 70% energy savings and dramatically improve operational reliability. This creates a lucrative market for firms offering smart retrofit packages with minimal downtime, including IoT integration and predictive maintenance features. Targeting mid-tier residential and commercial buildings, where large-scale replacements are not feasible, retrofit specialists can tap into a sizable and underserved segment, delivering high ROI for investors focused on sustainable urban infrastructure renewal.

Segment Overview

Australia elevator market is segmented on the basis of type, technology, service, capacity, speed, deck, designation control, door type, end-user and states.

 By Type, the market is divided into passenger elevator, freight elevator and others.

 By Technology, the market is divided into traction and hydraulic. the traction is further divided into machine room [MR] traction and machine roomless [MRL] traction.

 By Service, the market is divided into new installation, maintenance and modernization.

 By Capacity, the market is divided into less than 1500 kg, 1501 to 2500 kg, 2501-4000 kg and more than 4000 kg.
• By Speed, the market is divided into less than 1M/S, between 1 to 4 M/S and between 5 to 6 M/S.
• By Deck, the market is divided into single deck and double deck.
• By Designation Control, the market is divided into smart and conventional.
• By Door Type, the market is divided into automatic and manual.
• By End-user, the market is segmented into residential, commercial and industrial.
• By States, it is segmented into New South Wales, Queensland, South Australia, Tasmania, Victoria, Western Australia, Northern Territory and Australian Capital Territory.

Strategic Analysis of Companies of Australia Elevator Industry

Between 2024 and mid 2025, Australia’s elevator market has seen intensifying competition among global incumbents, KONE, Otis, and Schindler, each executing distinct strategies to bolster market share, brand visibility, and long term growth.
• In May 2024, KONE notably acquired Orbitz Elevators in Australia and New Zealand, integrating Orbitz’s 40 strong workforce to strengthen its service capabilities in custom designs and people flow solutions. In January 2025, it launched its High Rise MiniSpace DX in Melbourne’s Square precinct, positioning itself as an innovator in sustainable, high density urban mobility.
• Otis Australia secured major modernization contracts, including 30 elevators at 101 Collins Street in Melbourne using Skyrise MOD, Gen3 MOD, ReGen drive and Otis ONE IoT technology, and recently won NSW Housing projects slated for installation in 2025. These moves reinforce Otis’s dominance in smart retrofit and long term service provision.
• Schindler Australia has actively deployed its R.I.S.E robotic installation system, first piloted in Perth in 2022 and later expanded to Brisbane in 2024, enhancing elevator shaft construction efficiency and safety through autonomous drilling and BIM integration.

Together, these actions are reshaping the competitive landscape: KONE gains service depth and urban penetration, Otis reinforces its retrofit and IoT leadership, and Schindler emphasizes tech-led installation efficiency and digital engagement, each expanding share, visibility, and readiness for Australia’s projected growth in elevator installations.

Key Benefits
• The report provides quantitative analysis and estimations of Australia elevator market from 2024 to 2030. This analysis assists in identifying the prevailing market opportunities to capitalize on.
• The study comprises a detailed analysis of Australia elevator market trends, including the current and future trends to depict the prevalent investment pockets in the market.
• The information related to key drivers, restraints and opportunities and their impact on Australia elevator market is provided in the report.
• The competitive analysis of the market players along with their market share in Australia elevator market is provided in the report.
• The SWOT analysis and Porter’s Five Forces model are elaborated in the study.
• The value chain analysis in the market study provides a clear picture of the roles of stakeholders.

Table of Contents

1. Introduction
1.1 Report Description
1.2 Research Methodology
1.2.1 Secondary Research
1.2.2 Data Analysis Framework
1.2.3 Market Size Estimation
1.2.4 Forecasting
1.2.5 Primary Research And Data Validation
2. Australia Elevator Market By Type
2.1 Overview
2.2 Passenger Elevator Market
2.3 Freight Elevator Market
2.4 Others Market
3. Australia Elevator Market By Technology
3.1 Overview
3.2 Traction Market
3.2.1 Machine Room [Mr] Traction
3.2.2 Machine Roomless [Mrl] Traction
3.3 Hydraulic Market
4. Australia Elevator Market By Service
4.1 Overview
4.2 New Installation Market
4.3 Maintenance Market
4.4 Modernization Market
5. Australia Elevator Market By Capacity
5.1 Overview
5.2 Less Than 1500 Kg Market
5.3 1500 To 2500 Kg Market
5.4 2501 To 4000 Kg Market
5.5 More Than 4000 Kg Market
6. Australia Elevator Market By Speed
6.1 Overview
6.2 Less Than 1 M/S Market
6.3 Between 1 To 4 M/S Market
6.4 More Than 5 M/S Market
7. Australia Elevator Market By Deck Type
7.1 Overview
7.2 Single Deck Market
7.3 Double Deck Market
8. Australia Elevator Market By Designation Control
8.1 Overview
8.2 Smart Market
8.3 Conventional Market
9. Australia Elevator Market By Door Type
9.1 Overview
9.2 Automatic Market
9.3 Manual Market
10. Australia Elevator Market By Application
10.1 Overview
10.2 Residential Market
10.2.1 Low Rise 10 Floors
10.2.2 Mid Rise 11-30 Floors
10.2.3 High Rise Above 30 Floors
10.2.4 Villa/Home
10.3 Commercial Market
10.3.1 Airport
10.3.2 Hotel And Hospitality
10.3.3 Leisure And Education
10.3.4 Marine And Port Facilities
10.3.5 Medical And Healthcare
10.3.6 Multiuse Buildings (Mixed-use)
10.3.7 Retail And Shopping Centers
10.3.8 Public Transportation Hubs
10.3.9 Office Buildings
10.3.9.1 Low Rise: 10 Floors
10.3.9.2 Mid Rise: 11-30 Floors
10.3.9.3 High Rise: Above 30 Floors
10.4 Industrial Market
11. Company Profiles
11.1 Schindler Group
11.1.1 Company Overview
11.1.2 Company Snapshot
11.1.3 Operating Business Segments
11.1.4 Product Portfolio
11.1.5 Business Performance
11.1.6 Business Segments
11.1.7 Geographic Segments
11.1.8 Key Strategic Moves And Development
11.1.9 Primary Market Competitors
11.2 Otis Elevator Company
11.2.1 Company Overview
11.2.2 Company Snapshot
11.2.3 Operating Business Segments
11.2.4 Product Portfolio
11.2.5 Business Performance
11.2.6 Business Segments
11.2.7 Geographic Segments
11.2.8 Key Strategic Moves And Development
11.2.9 Primary Market Competitors
11.3 Tk Elevator
11.3.1 Company Overview
11.3.2 Company Snapshot
11.3.3 Operating Business Segments
11.3.4 Product Portfolio
11.3.5 Business Performance
11.3.6 Business Segments
11.3.7 Geographic Segments
11.3.8 Key Strategic Moves And Development
11.3.9 Primary Market Competitors
11.4 Kone Corporation
11.4.1 Company Overview
11.4.2 Company Snapshot
11.4.3 Operating Business Segments
11.4.4 Product Portfolio
11.4.5 Business Performance
11.4.6 Business Segments
11.4.7 Geographic Segments
11.4.8 Key Strategic Moves And Development
11.4.9 Primary Market Competitors
11.5 Mitsubishi Electric Corporation
11.5.1 Company Overview
11.5.2 Company Snapshot
11.5.3 Operating Business Segments
11.5.4 Product Portfolio
11.5.5 Business Performance
11.5.6 Business Segments
11.5.7 Geographic Segments
11.5.8 Key Strategic Moves And Development
11.5.9 Primary Market Competitors
11.6 Empire Elevators
11.6.1 Company Overview
11.6.2 Company Snapshot
11.6.3 Operating Business Segments
11.6.4 Product Portfolio
11.6.5 Business Performance
11.6.6 Business Segments
11.6.7 Geographic Segments
11.6.8 Key Strategic Moves And Development
11.6.9 Primary Market Competitors
11.7 Toshiba
11.7.1 Company Overview
11.7.2 Company Snapshot
11.7.3 Operating Business Segments
11.7.4 Product Portfolio
11.7.5 Business Performance
11.7.6 Business Segments
11.7.7 Geographic Segments
11.7.8 Key Strategic Moves And Development
11.7.9 Primary Market Competitors
11.8 Hitachi
11.8.1 Company Overview
11.8.2 Company Snapshot
11.8.3 Operating Business Segments
11.8.4 Product Portfolio
11.8.5 Business Performance
11.8.6 Business Segments
11.8.7 Geographic Segments
11.8.8 Key Strategic Moves And Development
11.8.9 Primary Market Competitors
11.9 Platinum Elevators
11.9.1 Company Overview
11.9.2 Company Snapshot
11.9.3 Operating Business Segments
11.9.4 Product Portfolio
11.9.5 Business Performance
11.9.6 Business Segments
11.9.7 Geographic Segments
11.9.8 Key Strategic Moves And Development
11.9.9 Primary Market Competitors
11.10 Liftronic Pty Ltd.
11.10.1 Company Overview
11.10.2 Company Snapshot
11.10.3 Operating Business Segments
11.10.4 Product Portfolio
11.10.5 Business Performance
11.10.6 Business Segments
11.10.7 Geographic Segments
11.10.8 Key Strategic Moves And Development
11.10.9 Primary Market Competitors
11.11 Easy Living Home Elevators
11.11.1 Company Overview
11.11.2 Company Snapshot
11.11.3 Operating Business Segments
11.11.4 Product Portfolio
11.11.5 Business Performance
11.11.6 Business Segments
11.11.7 Geographic Segments
11.11.8 Key Strategic Moves And Development
11.11.9 Primary Market Competitors
11.12 Shotton Lifts
11.12.1 Company Overview
11.12.2 Company Snapshot
11.12.3 Operating Business Segments
11.12.4 Product Portfolio
11.12.5 Business Performance
11.12.6 Business Segments
11.12.7 Geographic Segments
11.12.8 Key Strategic Moves And Development
11.12.9 Primary Market Competitors
11.13 Next Level Elevators
11.13.1 Company Overview
11.13.2 Company Snapshot
11.13.3 Operating Business Segments
11.13.4 Product Portfolio
11.13.5 Business Performance
11.13.6 Business Segments
11.13.7 Geographic Segments
11.13.8 Key Strategic Moves And Development
11.13.9 Primary Market Competitors
11.14 Velocity Home Lifts
11.14.1 Company Overview
11.14.2 Company Snapshot
11.14.3 Operating Business Segments
11.14.4 Product Portfolio
11.14.5 Business Performance
11.14.6 Business Segments
11.14.7 Geographic Segments
11.14.8 Key Strategic Moves And Development
11.14.9 Primary Market Competitors
11.15 Savaria Corporation
11.15.1 Company Overview
11.15.2 Company Snapshot
11.15.3 Operating Business Segments
11.15.4 Product Portfolio
11.15.5 Business Performance
11.15.6 Business Segments
11.15.7 Geographic Segments
11.15.8 Key Strategic Moves And Development
11.15.9 Primary Market Competitors
11.16 Hyundai Elevator
11.16.1 Company Overview
11.16.2 Company Snapshot
11.16.3 Operating Business Segments
11.16.4 Product Portfolio
11.16.5 Business Performance
11.16.6 Business Segments
11.16.7 Geographic Segments
11.16.8 Key Strategic Moves And Development
11.16.9 Primary Market Competitors
11.17 Fujitec
11.17.1 Company Overview
11.17.2 Company Snapshot
11.17.3 Operating Business Segments
11.17.4 Product Portfolio
11.17.5 Business Performance
11.17.6 Business Segments
11.17.7 Geographic Segments
11.17.8 Key Strategic Moves And Development
11.17.9 Primary Market Competitors
11.18 Orona Group
11.18.1 Company Overview
11.18.2 Company Snapshot
11.18.3 Operating Business Segments
11.18.4 Product Portfolio
11.18.5 Business Performance
11.18.6 Business Segments
11.18.7 Geographic Segments
11.18.8 Key Strategic Moves And Development
11.18.9 Primary Market Competitors
11.19 Lift Shop
11.19.1 Company Overview
11.19.2 Company Snapshot
11.19.3 Operating Business Segments
11.19.4 Product Portfolio
11.19.5 Business Performance
11.19.6 Business Segments
11.19.7 Geographic Segments
11.19.8 Key Strategic Moves And Development
11.19.9 Primary Market Competitors
11.20 Stannah Lifts
11.20.1 Company Overview
11.20.2 Company Snapshot
11.20.3 Operating Business Segments
11.20.4 Product Portfolio
11.20.5 Business Performance
11.20.6 Business Segments
11.20.7 Geographic Segments
11.20.8 Key Strategic Moves And Development
11.20.9 Primary Market Competitors
11.21 Kleemann Lifts
11.21.1 Company Overview
11.21.2 Company Snapshot
11.21.3 Operating Business Segments
11.21.4 Product Portfolio
11.21.5 Business Performance
11.21.6 Business Segments
11.21.7 Geographic Segments
11.21.8 Key Strategic Moves And Development
11.21.9 Primary Market Competitors
11.22 Jade Elevators
11.22.1 Company Overview
11.22.2 Company Snapshot
11.22.3 Operating Business Segments
11.22.4 Product Portfolio
11.22.5 Business Performance
11.22.6 Business Segments
11.22.7 Geographic Segments
11.22.8 Key Strategic Moves And Development
11.22.9 Primary Market Competitors
11.23 Direct Lifts Australia
11.23.1 Company Overview
11.23.2 Company Snapshot
11.23.3 Operating Business Segments
11.23.4 Product Portfolio
11.23.5 Business Performance
11.23.6 Business Segments
11.23.7 Geographic Segments
11.23.8 Key Strategic Moves And Development
11.23.9 Primary Market Competitors

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