PUBLISHER: The Business Research Company | PRODUCT CODE: 1822945
PUBLISHER: The Business Research Company | PRODUCT CODE: 1822945
Industrial hydraulic elevators are lifting devices that utilize pressurized hydraulic fluid to move a piston inside a cylinder, facilitating vertical movement. They are constructed with a robust mechanical framework to guarantee dependable and stable operation in demanding industrial settings. The design emphasizes smooth, controlled motion and long-lasting operational efficiency through a fluid-powered mechanism.
The primary types of industrial hydraulic elevators include passenger elevators, freight elevators, automated elevators, specialized elevators, and service elevators. Passenger elevators are vertical transportation systems engineered to safely and efficiently transport people between building floors. These systems employ various control methods such as manual control, semi-automatic control, fully automatic control, and smart elevator technologies, and are classified by load capacity into light duty, medium duty, heavy duty, and extra heavy duty. Typical end-users of these elevators include hospitality venues, healthcare facilities, retail outlets, industrial manufacturing plants, as well as museums and exhibition centers.
Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.
The swift increase in U.S. tariffs and the ensuing trade tensions in spring 2025 are significantly affecting the machinery sector by increasing costs for steel, hydraulic systems, and precision bearings critical components often imported from tariff-affected regions. Manufacturers of construction, agricultural, and industrial machinery now face squeezed margins, as many long-term contracts prevent immediate price adjustments. The uncertainty has also delayed investment in automation and smart machinery technologies, slowing productivity gains. To adapt, firms are accelerating local supplier development, redesigning products to use alternative materials, and leveraging predictive maintenance to extend equipment lifespans amid higher replacement costs.
The industrial hydraulic elevators market research report is one of a series of new reports from The Business Research Company that provides industrial hydraulic elevators market statistics, including the industrial hydraulic elevators industry's global market size, regional shares, competitors with the industrial hydraulic elevators market share, detailed industrial hydraulic elevators market segments, market trends and opportunities, and any further data you may need to thrive in the industrial hydraulic elevators market. This industrial hydraulic elevator market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The industrial hydraulic elevators market size has grown strongly in recent years. It will grow from $4.39 billion in 2024 to $4.69 billion in 2025 at a compound annual growth rate (CAGR) of 6.8%. The growth observed during the historic period can be attributed to the increasing replacement rate of aging elevator systems, heightened emphasis on worker safety and ergonomics, accelerating urbanization and industrialization, expansion of the e-commerce and logistics sectors, and a rising preference for energy-efficient elevator systems.
The industrial hydraulic elevators market size is expected to see strong growth in the next few years. It will grow to $6.02 billion in 2029 at a compound annual growth rate (CAGR) of 6.5%. The anticipated growth in the forecast period can be linked to the rise in industrial automation, expanding construction of industrial facilities, increasing demand for improved material handling efficiency, wider adoption of smart control systems, and growing investments in infrastructure development. Key trends during the forecast period include technological advancements in hydraulic systems, progress in energy-efficient elevator technologies, improvements in automated control systems, technology-driven upgrades of existing elevator infrastructure, and innovations in compact hydraulic units.
The increasing industrial automation is expected to drive the growth of the industrial hydraulic elevators market in the coming years. Industrial automation involves the use of control systems such as computers, robots, and information technologies to manage and supervise industrial processes with minimal human intervention. This rise in industrial automation is fueled by the growing demand for improved productivity, as it enables faster, continuous, and more efficient operations while reducing reliance on manual labor. Industrial hydraulic elevators support industrial automation by facilitating seamless vertical material transport, thereby minimizing manual handling and enhancing workflow efficiency in automated production lines. For example, in September 2024, the International Federation of Robotics (IFR), a Germany-based non-profit organization, reported that 276,288 industrial robots were installed in China in 2023, representing 51% of global installations, with the industry expected to grow at an average annual rate of 5-10% through 2027. Consequently, the rise in industrial automation is propelling the growth of the industrial hydraulic elevators market.
The growing investment in infrastructure development is anticipated to boost the industrial hydraulic elevators market going forward. Infrastructure investment refers to the allocation of capital for the construction, enhancement, or maintenance of essential facilities. This investment is increasing due to rapid urbanization, which creates a need for improved transportation, utilities, and public services to accommodate expanding urban populations and economic activities. Infrastructure development investment stimulates demand for industrial hydraulic elevators by supporting the establishment of manufacturing units, storage warehouses, and industrial sites that rely on dependable vertical transportation systems for moving goods and personnel. For instance, in July 2024, the Office for National Statistics, a UK-based government agency, reported that infrastructure investment in 2023 reached $17.25 billion (£13.8 billion) in constant prices, reflecting a 3.9% increase from 2022. Therefore, rising infrastructure investment is driving growth in the industrial hydraulic elevators market.
Leading companies in the industrial hydraulic elevators market are concentrating on creating innovative solutions such as low-rise hydraulic elevators to enhance energy efficiency, ease installation, and address the requirements of space-constrained industrial environments. A low-rise hydraulic elevator is a vertical transport system designed for buildings with up to five floors, using hydraulic technology to provide smooth, efficient, and cost-effective movement. For example, in January 2024, TK Elevator GmbH, a Germany-based manufacturer, introduced the EOX-H, an energy-efficient and sustainable hydraulic elevator designed for low-rise buildings. This digitally advanced elevator features a compact design, reduced lead times, and cost optimization suitable for various budgets. Its advantages include improved safety and digital functionalities, eco and standby modes for energy conservation, and predictive maintenance to boost reliability and prolong service life.
Major players in the industrial hydraulic elevators market are Hitachi Ltd., Mitsubishi Electric Corporation, TK Elevator India Private Limited, KLEEMANN GMBH, Stannah Lifts Holdings Ltd., IMEM Lifts, KJ Elevator Co. Ltd., Sigma Elevators, Hidral S.A., Elite Elevators, Maruthi Lifts, Otis Elevator (China) Co. Ltd., Bramalea Elevator Ltd., AVT Beckett Elevators Ltd., Titus Elevators, ALMAS LIFTS PRIVATE LIMITED, GMV North America, Krisha Engineering, Schindler India Private Limited, A Star Elevator Pvt Ltd., and VIMALNX EQUIPMENTS.
Europe was the largest region in the industrial hydraulic elevators market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in industrial hydraulic elevators report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the industrial hydraulic elevators market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The industrial hydraulic elevators market consists of sales of material lifts, elevator control panels, hydraulic cylinders, and scissor lifts. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Industrial Hydraulic Elevators Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on industrial hydraulic elevators market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for industrial hydraulic elevators ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The industrial hydraulic elevators market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.