Global Elevator Modernization Service Market Research Report 2025

Publication ID:

PB503253035

Publication Date:

March 4, 2025

Pages:

Publisher:

MRRPB5

Countries:

Global [1]

USD 2,900.00

IT Services [2]

Computing & Electronics [3]

Description:

The global market for Elevator Modernization Service was valued at US$ 10700 million in the year 2024 and is projected to reach a revised size of US$ 18580 million by 2031, growing at a CAGR of 8.3% during the forecast period.
Elevator modernization service involves upgrading and replacing key components of existing elevators to improve their performance, safety, and energy efficiency. This service typically includes the installation of new control systems, motors, door operators, and other modern technologies that enhance the elevator鈥檚 reliability, reduce downtime, and lower maintenance costs. Modernization is often more cost-effective than a complete replacement, extending the lifespan of older elevators while ensuring they meet current safety and regulatory standards. This service is crucial for buildings with aging elevator systems that require technological improvements and increased operational efficiency.
North American market for Elevator Modernization Service is estimated to increase from $ million in 2024 to reach $ million by 2031, at a CAGR of % during the forecast period of 2025 through 2031.
Asia-Pacific market for Elevator Modernization Service is estimated to increase from $ million in 2024 to reach $ million by 2031, at a CAGR of % during the forecast period of 2025 through 2031.
The global market for Elevator Modernization Service in Residential is estimated to increase from $ million in 2024 to $ million by 2031, at a CAGR of % during the forecast period of 2025 through 2031.
The major global companies of Elevator Modernization Service include Otis Worldwide, Schindler Group, TK Elevator, KONE, Mitsubishi Electric, Hitachi, Fujitec, Orona, 3Phase Elevator, Canny Elevator, etc. In 2024, the world's top three vendors accounted for approximately % of the revenue.
This report aims to provide a comprehensive presentation of the global market for Elevator Modernization Service, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Elevator Modernization Service.
The Elevator Modernization Service market size, estimations, and forecasts are provided in terms of and revenue ($ millions), considering 2024 as the base year, with history and forecast data for the period from 2020 to 2031. This report segments the global Elevator Modernization Service market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the Elevator Modernization Service companies, new entrants, and industry chain related companies in this market with information on the revenues for the overall market and the sub-segments across the different segments, by company, by Type, by Application, and by regions.
Market Segmentation
By Company
Otis Worldwide
Schindler Group
TK Elevator
KONE
Mitsubishi Electric
Hitachi
Fujitec
Orona
3Phase Elevator
Canny Elevator
Syney Electric
Jiali Lift
Edunburgh Elevator
Shenyang Yuanda Intellectual
Segment by Type
Control System Modernization
Drive System Modernization
Cab and Interior Modernization
Others
Segment by Application
Residential
Commercial
Others
By Region
North America
United States
Canada
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Rest of Europe
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA
Chapter Outline
Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by Type, by Application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 2: Introduces executive summary of global market size, regional market size, this section also introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by companies in the industry, and the analysis of relevant policies in the industry.
Chapter 3: Detailed analysis of Elevator Modernization Service company competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6, 7, 8, 9, 10: North America, Europe, Asia Pacific, Latin America, Middle East and Africa segment by country. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and capacity of each country in the world.
Chapter 11: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 12: The main points and conclusions of the report.

Please Note - This is an on demand report and will be delivered in 2 business days (48 hours) post payment.

Table Of Contents:

1 Report Overview
1.1 Study Scope
1.2 Market Analysis by Type
1.2.1 Global Elevator Modernization Service Market Size Growth Rate by Type: 2020 VS 2024 VS 2031
1.2.2 Control System Modernization
1.2.3 Drive System Modernization
1.2.4 Cab and Interior Modernization
1.2.5 Others
1.3 Market by Application
1.3.1 Global Elevator Modernization Service Market Growth by Application: 2020 VS 2024 VS 2031
1.3.2 Residential
1.3.3 Commercial
1.3.4 Others
1.4 Assumptions and Limitations
1.5 Study Objectives
1.6 Years Considered
2 Global Growth Trends
2.1 Global Elevator Modernization Service Market Perspective (2020-2031)
2.2 Global Elevator Modernization Service Growth Trends by Region
2.2.1 Global Elevator Modernization Service Market Size by Region: 2020 VS 2024 VS 2031
2.2.2 Elevator Modernization Service Historic Market Size by Region (2020-2025)
2.2.3 Elevator Modernization Service Forecasted Market Size by Region (2026-2031)
2.3 Elevator Modernization Service Market Dynamics
2.3.1 Elevator Modernization Service Industry Trends
2.3.2 Elevator Modernization Service Market Drivers
2.3.3 Elevator Modernization Service Market Challenges
2.3.4 Elevator Modernization Service Market Restraints
3 Competition Landscape by Key Players
3.1 Global Top Elevator Modernization Service Players by Revenue
3.1.1 Global Top Elevator Modernization Service Players by Revenue (2020-2025)
3.1.2 Global Elevator Modernization Service Revenue Market Share by Players (2020-2025)
3.2 Global Top Elevator Modernization Service Players by Company Type and Market Share by Company Type (Tier 1, Tier 2, and Tier 3)
3.3 Global Key Players Ranking by Elevator Modernization Service Revenue
3.4 Global Elevator Modernization Service Market Concentration Ratio
3.4.1 Global Elevator Modernization Service Market Concentration Ratio (CR5 and HHI)
3.4.2 Global Top 10 and Top 5 Companies by Elevator Modernization Service Revenue in 2024
3.5 Global Key Players of Elevator Modernization Service Head office and Area Served
3.6 Global Key Players of Elevator Modernization Service, Product and Application
3.7 Global Key Players of Elevator Modernization Service, Date of Enter into This Industry
3.8 Mergers & Acquisitions, Expansion Plans
4 Elevator Modernization Service Breakdown Data by Type
4.1 Global Elevator Modernization Service Historic Market Size by Type (2020-2025)
4.2 Global Elevator Modernization Service Forecasted Market Size by Type (2026-2031)
5 Elevator Modernization Service Breakdown Data by Application
5.1 Global Elevator Modernization Service Historic Market Size by Application (2020-2025)
5.2 Global Elevator Modernization Service Forecasted Market Size by Application (2026-2031)
6 North America
6.1 North America Elevator Modernization Service Market Size (2020-2031)
6.2 North America Elevator Modernization Service Market Growth Rate by Country: 2020 VS 2024 VS 2031
6.3 North America Elevator Modernization Service Market Size by Country (2020-2025)
6.4 North America Elevator Modernization Service Market Size by Country (2026-2031)
6.5 United States
6.6 Canada
7 Europe
7.1 Europe Elevator Modernization Service Market Size (2020-2031)
7.2 Europe Elevator Modernization Service Market Growth Rate by Country: 2020 VS 2024 VS 2031
7.3 Europe Elevator Modernization Service Market Size by Country (2020-2025)
7.4 Europe Elevator Modernization Service Market Size by Country (2026-2031)
7.5 Germany
7.6 France
7.7 U.K.
7.8 Italy
7.9 Russia
7.10 Nordic Countries
8 Asia-Pacific
8.1 Asia-Pacific Elevator Modernization Service Market Size (2020-2031)
8.2 Asia-Pacific Elevator Modernization Service Market Growth Rate by Region: 2020 VS 2024 VS 2031
8.3 Asia-Pacific Elevator Modernization Service Market Size by Region (2020-2025)
8.4 Asia-Pacific Elevator Modernization Service Market Size by Region (2026-2031)
8.5 China
8.6 Japan
8.7 South Korea
8.8 Southeast Asia
8.9 India
8.10 Australia
9 Latin America
9.1 Latin America Elevator Modernization Service Market Size (2020-2031)
9.2 Latin America Elevator Modernization Service Market Growth Rate by Country: 2020 VS 2024 VS 2031
9.3 Latin America Elevator Modernization Service Market Size by Country (2020-2025)
9.4 Latin America Elevator Modernization Service Market Size by Country (2026-2031)
9.5 Mexico
9.6 Brazil
10 Middle East & Africa
10.1 Middle East & Africa Elevator Modernization Service Market Size (2020-2031)
10.2 Middle East & Africa Elevator Modernization Service Market Growth Rate by Country: 2020 VS 2024 VS 2031
10.3 Middle East & Africa Elevator Modernization Service Market Size by Country (2020-2025)
10.4 Middle East & Africa Elevator Modernization Service Market Size by Country (2026-2031)
10.5 Turkey
10.6 Saudi Arabia
10.7 UAE
11 Key Players Profiles
11.1 Otis Worldwide
11.1.1 Otis Worldwide Company Details
11.1.2 Otis Worldwide Business Overview
11.1.3 Otis Worldwide Elevator Modernization Service Introduction
11.1.4 Otis Worldwide Revenue in Elevator Modernization Service Business (2020-2025)
11.1.5 Otis Worldwide Recent Development
11.2 Schindler Group
11.2.1 Schindler Group Company Details
11.2.2 Schindler Group Business Overview
11.2.3 Schindler Group Elevator Modernization Service Introduction
11.2.4 Schindler Group Revenue in Elevator Modernization Service Business (2020-2025)
11.2.5 Schindler Group Recent Development
11.3 TK Elevator
11.3.1 TK Elevator Company Details
11.3.2 TK Elevator Business Overview
11.3.3 TK Elevator Elevator Modernization Service Introduction
11.3.4 TK Elevator Revenue in Elevator Modernization Service Business (2020-2025)
11.3.5 TK Elevator Recent Development
11.4 KONE
11.4.1 KONE Company Details
11.4.2 KONE Business Overview
11.4.3 KONE Elevator Modernization Service Introduction
11.4.4 KONE Revenue in Elevator Modernization Service Business (2020-2025)
11.4.5 KONE Recent Development
11.5 Mitsubishi Electric
11.5.1 Mitsubishi Electric Company Details
11.5.2 Mitsubishi Electric Business Overview
11.5.3 Mitsubishi Electric Elevator Modernization Service Introduction
11.5.4 Mitsubishi Electric Revenue in Elevator Modernization Service Business (2020-2025)
11.5.5 Mitsubishi Electric Recent Development
11.6 Hitachi
11.6.1 Hitachi Company Details
11.6.2 Hitachi Business Overview
11.6.3 Hitachi Elevator Modernization Service Introduction
11.6.4 Hitachi Revenue in Elevator Modernization Service Business (2020-2025)
11.6.5 Hitachi Recent Development
11.7 Fujitec
11.7.1 Fujitec Company Details
11.7.2 Fujitec Business Overview
11.7.3 Fujitec Elevator Modernization Service Introduction
11.7.4 Fujitec Revenue in Elevator Modernization Service Business (2020-2025)
11.7.5 Fujitec Recent Development
11.8 Orona
11.8.1 Orona Company Details
11.8.2 Orona Business Overview
11.8.3 Orona Elevator Modernization Service Introduction
11.8.4 Orona Revenue in Elevator Modernization Service Business (2020-2025)
11.8.5 Orona Recent Development
11.9 3Phase Elevator
11.9.1 3Phase Elevator Company Details
11.9.2 3Phase Elevator Business Overview
11.9.3 3Phase Elevator Elevator Modernization Service Introduction
11.9.4 3Phase Elevator Revenue in Elevator Modernization Service Business (2020-2025)
11.9.5 3Phase Elevator Recent Development
11.10 Canny Elevator
11.10.1 Canny Elevator Company Details
11.10.2 Canny Elevator Business Overview
11.10.3 Canny Elevator Elevator Modernization Service Introduction
11.10.4 Canny Elevator Revenue in Elevator Modernization Service Business (2020-2025)
11.10.5 Canny Elevator Recent Development
11.11 Syney Electric
11.11.1 Syney Electric Company Details
11.11.2 Syney Electric Business Overview
11.11.3 Syney Electric Elevator Modernization Service Introduction
11.11.4 Syney Electric Revenue in Elevator Modernization Service Business (2020-2025)
11.11.5 Syney Electric Recent Development
11.12 Jiali Lift
11.12.1 Jiali Lift Company Details
11.12.2 Jiali Lift Business Overview
11.12.3 Jiali Lift Elevator Modernization Service Introduction
11.12.4 Jiali Lift Revenue in Elevator Modernization Service Business (2020-2025)
11.12.5 Jiali Lift Recent Development
11.13 Edunburgh Elevator
11.13.1 Edunburgh Elevator Company Details
11.13.2 Edunburgh Elevator Business Overview
11.13.3 Edunburgh Elevator Elevator Modernization Service Introduction
11.13.4 Edunburgh Elevator Revenue in Elevator Modernization Service Business (2020-2025)
11.13.5 Edunburgh Elevator Recent Development
11.14 Shenyang Yuanda Intellectual
11.14.1 Shenyang Yuanda Intellectual Company Details
11.14.2 Shenyang Yuanda Intellectual Business Overview
11.14.3 Shenyang Yuanda Intellectual Elevator Modernization Service Introduction
11.14.4 Shenyang Yuanda Intellectual Revenue in Elevator Modernization Service Business (2020-2025)
11.14.5 Shenyang Yuanda Intellectual Recent Development
12 Analyst's Viewpoints/Conclusions
13 Appendix
13.1 Research Methodology
13.1.1 Methodology/Research Approach
13.1.1.1 Research Programs/Design
13.1.1.2 Market Size Estimation
13.1.1.3 Market Breakdown and Data Triangulation
13.1.2 Data Source
13.1.2.1 Secondary Sources
13.1.2.2 Primary Sources
13.2 Author Details
13.3 Disclaimer

Companies Mentioned:

Otis Worldwide
Schindler Group
TK Elevator
KONE
Mitsubishi Electric
Hitachi
Fujitec
Orona
3Phase Elevator
Canny Elevator
Syney Electric
Jiali Lift
Edunburgh Elevator
Shenyang Yuanda Intellectual

License Types:

Single User License (PDF)

This license allows for use of a publication by one person.
This person may print out a single copy of the publication.
This person can include information given in the publication in presentations and internal reports by providing full copyright credit to the publisher.
This person cannot share the publication (or any information contained therein) with any other person or persons.
Unless a Enterprise License is purchased, a Single User License must be purchased for every person that wishes to use the publication within the same organization.
Customers who infringe these license terms are liable for a Global license fee.

听

Site License (PDF)*

This license allows for use of a publication by all users within one corporate location, e.g. a regional office.
These users may print out a single copy of the publication.
These users can include information given in the publication in presentations and internal reports by providing full copyright credit to the publisher.
These users cannot share the publication (or any information contained therein) with any other person or persons outside the corporate location for which the publication is purchased.
Unless a Enterprise License is purchased, a Site User License must be purchased for every corporate location by an organization that wishes to use the publication within the same organization.
Customers who infringe these license terms are liable for a Global license fee.

听

Global License (PDF)*

This license allows for use of a publication by unlimited users within the purchasing organization e.g. all employees of a single company.
Each of these people may use the publication on any computer, and may print out the report, but may not share the publication (or any information contained therein) with any other person or persons outside of the organization.
These employees of purchasing organization can include information given in the publication in presentations and internal reports by providing full copyright credit to the publisher.

*If Applicable.

91制片厂