Residential Elevator Market, By Type, By Installation, By End User, By Geography

PUBLISHED: December 16, 2025

PAGES: 132 Pages

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Description

Residential Elevator Market is estimated to be valued at USD 61.56 Bn in 2025 and is expected to reach USD 98.27 Bn by 2032, growing at a compound annual growth rate (CAGR) of 6.91% from 2025 to 2032.

Report Coverage		Report Details
Base Year:	2024	Market Size in 2025:	USD 61.56 Bn
Historical Data for:	2020 To 2024	Forecast Period:	2025 To 2032
Forecast Period 2025 to 2032 CAGR:	6.91%	2032 Value Projection:	USD 98.27 Bn

The global residential elevator market represents a rapidly evolving segment within the broader vertical transportation industry, driven by changing demographics, urbanization trends, and evolving consumer preferences for enhanced accessibility and luxury living.

Market Dynamics

The global residential elevator market experiences robust growth driven by several key factors that collectively shape its trajectory across different regions and market segments. Primary drivers include the rapidly aging global population, particularly in developed countries where elderly individuals prefer aging in place rather than relocating to assisted living facilities, necessitating home modifications that include elevator installations for improved accessibility and safety.

Key Features of the Study

This report provides in-depth analysis of the global residential elevator market, and provides market size (USD Bn) and compound annual growth rate (CAGR%) for the forecast period (2025-2032), considering 2024 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global residential elevator market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include Otis Worldwide Corporation, Schindler, KONE Corporation, Hitachi Ltd., HYUNDAIELEVATOR CO.,LTD., Mitsubishi Electric Corporation, Toshiba Group, FUJITEC CO., LTD., Aritco Lift AB, EMAK, TK Elevator, Schindler Group, ESCON Elevators Pvt Limited, and Electra Elevators
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
The global residential elevator market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global residential elevator market

Market Segmentation

Type Insights (Revenue, USD Bn, 2020 - 2032)
- Hydraulic Elevators
- Traction Elevators
- Pneumatic Elevators
- Other Types
Installation Insights (Revenue, USD Bn, 2020 - 2032)
- New Installation
- Maintenance
- Modernization
End User Insights (Revenue, USD Bn, 2020 - 2032)
- Homeowners
- Real Estate Developers
- Builders/Contractors
Regional Insights (Revenue, USD Bn, 2020 - 2032)
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- South Africa
- North Africa
- Central Africa
Key Players Insights
- Otis Worldwide Corporation
- Schindler
- KONE Corporation
- Hitachi Ltd.
- HYUNDAIELEVATOR CO.,LTD.
- Mitsubishi Electric Corporation
- Toshiba Group
- FUJITEC CO., LTD.
- Aritco Lift AB
- EMAK
- TK Elevator
- Schindler Group
- ESCON Elevators Pvt Limited
- Electra Elevators

Product Code: CMI9087

1. Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Purview

Report Description
- Market Definition and Scope
Executive Summary
- Global Residential Elevator Market, By Type
- Global Residential Elevator Market, By Installation
- Global Residential Elevator Market, By End User
- Global Residential Elevator Market, By Region

3. Market Dynamics, Regulations, and Trends Analysis

Market Dynamics
Impact Analysis
Key Highlights
Regulatory Scenario
Product Launches/Approvals
PEST Analysis
PORTER's Analysis
Market Opportunities
Regulatory Scenario
Key Developments
Industry Trends

4. Global Residential Elevator Market, By Type, 2020-2032, (USD Bn)

Introduction
- Market Share Analysis, 2025 and 2032 (%)
- Y-o-Y Growth Analysis, 2021 - 2032
- Segment Trends
Hydraulic Elevators
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Traction Elevators
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Pneumatic Elevators
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Other Types
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)

5. Global Residential Elevator Market, By Installation, 2020-2032, (USD Bn)

Introduction
- Market Share Analysis, 2025 and 2032 (%)
- Y-o-Y Growth Analysis, 2021 - 2032
- Segment Trends
New Installation
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Maintenance
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Modernization
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)

6. Global Residential Elevator Market, By End User, 2020-2032, (USD Bn)

Introduction
- Market Share Analysis, 2025 and 2032 (%)
- Y-o-Y Growth Analysis, 2021 - 2032
- Segment Trends
Homeowners
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Real Estate Developers
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Builders/Contractors
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)

7. Global Residential Elevator Market, By Region, 2020 - 2032, Value (USD Bn)

Introduction
- Market Share (%) Analysis, 2025, 2028 & 2032, Value (USD Bn)
- Market Y-o-Y Growth Analysis (%), 2021 - 2032, Value (USD Bn)
- Regional Trends
North America
- Introduction
- Market Size and Forecast, By Type, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By Installation, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By End User, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By Country, 2020 - 2032, Value (USD Bn)
  - U.S.
  - Canada
Latin America
- Introduction
- Market Size and Forecast, By Type, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By Installation, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By End User, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By Country, 2020 - 2032, Value (USD Bn)
  - Brazil
  - Argentina
  - Mexico
  - Rest of Latin America
Europe
- Introduction
- Market Size and Forecast, By Type, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By Installation, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By End User, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By Country, 2020 - 2032, Value (USD Bn)
  - Germany
  - U.K.
  - Spain
  - France
  - Italy
  - Russia
  - Rest of Europe
Asia Pacific
- Introduction
- Market Size and Forecast, By Type, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By Installation, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By End User, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By Country, 2020 - 2032, Value (USD Bn)
  - China
  - India
  - Japan
  - Australia
  - South Korea
  - ASEAN
  - Rest of Asia Pacific
Middle East
- Introduction
- Market Size and Forecast, By Type, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By Installation, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By End User, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By Country, 2020 - 2032, Value (USD Bn)
  - GCC Countries
  - Israel
  - Rest of Middle East
Africa
- Introduction
- Market Size and Forecast, By Type, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By Installation, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By End User, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By Country/Region, 2020 - 2032, Value (USD Bn)
  - South Africa
  - North Africa
  - Central Africa

8. Competitive Landscape

Otis Worldwide Corporation
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Schindler
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
KONE Corporation
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Hitachi Ltd.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
HYUNDAIELEVATOR CO.,LTD.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Mitsubishi Electric Corporation
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Toshiba Group
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
FUJITEC CO., LTD.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Aritco Lift AB
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
EMAK
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
TK Elevator
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Schindler Group
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
ESCON Elevators Pvt Limited
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Electra Elevators
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies