Companies Dominating the Hoist and Elevator Motors Market
- 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 industry insights with market data tables & charts from the report:
Frequently Asked Questions (FAQ)
In the year 2025, the industry size of hoist and elevator motors is assessed at USD 103.3 billion.
The hoist and elevator motors market size was over USD 99.74 billion in 2024 and is anticipated to cross USD 170.27 billion by 2037, witnessing more than 4.2% CAGR during the forecast period i.e., between 2025-2037. Growing demand for green buildings, increased adoption of permanent magnet motors and rising customization & personalization will drive the market growth.
Asia Pacific industry is poised to hold largest revenue share of 36% by 2037, due to rapid urbanization and a rise in building & construction activities in the region.
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.
