Hoist and Elevator Motors Market Size & Share, by Motor Type [AC (Geared AC Motors, 3 Phase Induction Motors) DC (Series DC Motors, Shunt DC Motors, Compound Motors, PMDC Motors)]; Output Power (Less than 1 HP, 1-500 HP, Above 500 HP); End-use (Residential, Commercial, Industrial) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5579
  • Published Date: Jan 25, 2024
  • Report Format: PDF, PPT

Companies Dominating the Hoist and Elevator Motors Market

top-features-companies
    • ABB Corporation
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Otis Worldwide Corporation
    • Demag Cranes & Components GmbH
    • Richardson International Limited
    • Johnson Controls

Browse Key Market Insights with Data Illustration:

In-the-news

In The News

  • ABB announced the release of ABB AbilityTM NGX Hoist Control, a worldwide control system that maximizes hoist operations' performance and safety for mining businesses. Expanding upon ABB's dependable and validated previous iterations of hoist control systems, it offers smaller businesses unprecedented levels of dependability, adaptability, and user-friendliness for new or renovated projects. By standardizing control systems, it can also assist larger businesses in cutting expenses and increasing efficiency.
  • Otis Worldwide Corporation (NYSE: OTIS) announced at the 6th China International Import Expo (CIIE) the launch of the 515NPE public escalator and its next-generation smart elevator system, the Otis Gen360TM digital elevator. The goal of both products is to improve the traveler experience by making urban travel safer and more seamless.

Author Credits:  Rushikesh, Richa Gupta


  • Report ID: 5579
  • Published Date: Jan 25, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Growing demand for green buildings, increased adoption of permanent magnet motors and rising customization & personalization are the major factors driving the growth of the hoist and elevator motors market.

The market size of hoist and elevator motors is anticipated to attain a CAGR of 4% over the forecast period, i.e., 2024-2036.

The major players in the market are ABB Corporation, Otis Worldwide Corporation, Demag Cranes & Components GmbH, Richardson International Limited, Johnson Controls, Toshiba Elevator Corporation, Exeo Group, Dai Nippon Printing Co., Ltd, Hitachi Co. Ltd., Panasonic Corporation and others.

The DC segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
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