January 8, 2025
2025 Lift Industry Trends and Insights: Is Lift Modernisation Shaping the Future of Vertical Transportation?
The lift industry continues to evolve rapidly, driven by technological innovations, sustainability, and shifting market dynamics. We’ve scoured market industry research to identify the top key trends and insights for 2025 that are shaping the future of vertical transportation.
Here’s a snapshot of what to watch for:
1. Market Growth and Global Expansion
According to a report from Grand View Research, the global elevator market was valued at approximately USD 79.06 billion in 2024 and is expected to grow at a compound annual growth rate (CAGR) of 6.7% through 2030. The Asia-Pacific region is leading the charge, fueled by urbanization and infrastructure investments, especially in China and India (Mordor Intelligence).
2. Smart Elevators and Technological Innovations
The rise of smart elevators is transforming user experiences. Equipped with energy-efficient solutions and advanced technologies—including biometric access, touch screens, and integrated access control—these elevators enhance both efficiency and convenience (IndustryARC).
3. Sustainable Design Leading the Way
Sustainability is continuing to be a hallmark of modern lift design. From luxurious finishes to durable, eco-friendly materials, 2025 is shaping up to be a year where aesthetics meet responsibility.
4. Industry Consolidation
Mergers and acquisitions are reshaping the competitive landscape. A notable example is Fujitec’s potential sale to private equity groups, highlighting a trend of consolidation within the elevator sector (Financial Times).
5. Modernisation Opportunities
With a growing number of aging elevators requiring upgrades, modernisation presents a significant opportunity. Industry experts predict that the demand for comprehensive overhauls of systems over 15 years old will increase annually, driving growth in modernisation services (Financial Times).
6. Addressing Workforce Challenges
A skilled workforce remains essential to support post-sales maintenance and modernisation efforts. However, the shortage of proficient technicians continues to challenge the sector’s growth (Mordor Intelligence).
As we progress through 2025, these trends highlight the lift industry’s dynamic landscape. Companies at the forefront of innovation, sustainability, and customer-centric solutions are best positioned to drive future success. Whether modernising existing infrastructure or embracing cutting-edge technologies, the future of vertical transportation looks promising.
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