Report Description Table of Contents The energy efficient elevators market was worth USD 28.56 billion in 2023 and will be worth USD 57.23 billion by 2030, growing at a CAGR of 9.1% during the forecast period. Energy Efficient Elevators market is spurred by the growing awareness of energy conservation, efficiency, and demand for green buildings. Elevators consume upto 10% of a building’s energy, and as the world today concentrates on energy efficiency with the Intended Nationally Determined Contributions (INDC) aiming to reduce emissions by 30% in 2030, there is a need to encourage energy efficiency elevator systems. For example, regenerative drive technology that recovers energy utilized when the elevator is in braking mode can CUT energy consumption by 50%. The latest advancements include smart applications where elevator utilizes traffic patterns and real-time information to minimize energy wastage due to idle periods. This is very important since there are usually large buildings that need to use elevators to conserve energy. Various governments and regulating authorities worldwide are becoming more inclined towards energy conservation in the constructions and products, demanding energy-saving elevators in commercial and residential buildings. Such improvements are revolutionizing the market now that building operators are looking for ways to reduce expenses and achieve environmental goals. The Energy Efficient Elevators market offers a promising demand as the global construction industry adopts environmentally friendly solutions. By 2025, about 50% of new constructions will be designed according to green building codes, promoting energy-efficient elevators. For instance, regenerative brake technology in the elevator that could cut electricity use by up to 75% in other busy structures is slowly becoming the in thing. Examples of the most recent innovations are intelligent lifts with AI incorporated in the structures that regulate power usage depending on the traffic intensity in the building, with consideration to speed and time spent with no traffic. This pairing of energy efficiency and technology presents a huge market, especially as space reduction and energy cuts are vital worldwide, specifically within cities and skyscraper buildings. Market Segmentation By Type: Machine Room-Less Elevators (MRL) Regenerative Drive Elevators Gearless Traction Elevators Hydraulic Elevators By Application: Residential Buildings Commercial Buildings Industrial Buildings Hospitals Hotels By Technology: Regenerative Drives Geared Traction Gearless Traction Variable Voltage Variable Frequency (VVVF) Technology By Capacity Less than 500 kg 500-1,500 kg Above 1,500 kg By Region North America US Mexico Canada Rest of North America Europe Switzerland Russia France Germany U.K Finland Turkey Netherlands Belgium Spain Italy Rest of Europe Asia Pacific India China South Korea Japan Singapore Thailand Indonesia Malaysia Philippines Australia Rest of Asia-Pacific LAMEA Brazil Argentina Uruguay Saudi Arabia Rest of LAMEA Europe is currently the largest energy-efficient elevator market consumer because of its social responsibility towards sustainability and policies supporting energy-efficient buildings. The European Union has adopted a renewable energy and energy efficiency target of at least 55% by 2030, thereby driving the reduction of greenhouse gas emissions and promoting efficient technologies such as elevators. Germany, France, and the UK are leading the pack in transforming old buildings and developing new build-to-rent green buildings certified in BREEAM and LEED. The advancements we see in the above creation involve most tall buildings in Europe today equipped with intelligent elevators with regenerative drives and smart energy management, which has greatly enhanced the energy efficiency of the towers. For instance, the Tour Saint-Gobain in Paris employs efficient lifts in designs as one of the ways to reduce on carbon footprint of the building. Continued traction towards developing green infrastructure and energy efficient solutions has made Europe the dominating region of the Energy Efficient Elevators market. Key Players Otis Elevator Company KONE Corporation Schindler Group Thyssenkrupp AG Mitsubishi Electric Corporation Hitachi Ltd. Fujitec Co., Ltd. Toshiba Elevator and Building Systems Corporation Hyundai Elevator Co., Ltd. Stannah Lifts Holdings Ltd. Frequently Asked Question About This Report . Table of Contents 1. ENERGY EFFICIENT ELEVATORS MARKET – PRODUCTION VOLUME BY REGION, (2024 – 2030) 1.1. North America 1.2. Europe 1.3. Asia Pacific 1.4. Latin America 1.5. Middle East & Africa 2. ENERGY EFFICIENT ELEVATORS MARKET – REVENUE ($MILLION), BY REGION, (2024 – 2030) 2.1. North America 2.2. Europe 2.3. Asia Pacific 2.4. Latin America 2.5. Middle East & Africa 3. MARKET SHARE ANALYSIS – ENERGY EFFICIENT ELEVATORS MARKET 3.1. Top 20 Players with Product Mix, Revenue, and Sales Volume 3.2. Market Share, 2023 3.3. Market By Type of Energy Efficient Elevators and End Use Outlook Analysis 4. HISTORIC TRENDS IN ENERGY EFFICIENT ELEVATORS MARKET 5. EMERGING MARKET TRENDS 6. NORTH AMERICA ENERGY EFFICIENT ELEVATORS MARKET ANALYSIS BY SEGMENT (COUNTRY-LEVEL ANALYSIS) 6.1. North America Energy Efficient Elevators Historical Market ($MILLION), (2017 – 2023) 6.2. North America Energy Efficient Elevators Market ($MILLION) and Forecasts (2024 – 2030) 6.3. North America Energy Efficient Elevators Market Type ($MILLION), and Forecasts (2024 – 2030), By Type 6.3.1. Machine Room-Less Elevators (MRL) 6.3.2. Regenerative Drive Elevators 6.3.3. Gearless Traction Elevators 6.3.4. Hydraulic Elevators 6.4. North America Energy Efficient Elevators Market Type ($MILLION), and Forecasts (2024 – 2030), By Capacity 6.4.1. Less than 500 kg 6.4.2. 500-1,500 kg 6.4.3. Above 1,500 kg 6.5. North America Energy Efficient Elevators Market Type ($MILLION), and Forecasts (2024 – 2030), By Application 6.5.1. Residential Buildings 6.5.2. Commercial Buildings 6.5.3. Industrial Buildings 6.5.4. Hospitals 6.5.5. Hotels 6.6. North America Energy Efficient Elevators Market Type ($MILLION), and Forecasts (2024 – 2030), By Technology 6.6.1. Regenerative Drives 6.6.2. Geared Traction 6.6.3. Gearless Traction 6.6.4. Variable Voltage Variable Frequency (VVVF) Technology 6.7. North America Energy Efficient Elevators Market Type ($MILLION), and Forecasts (2024 – 2030), By Geography 6.7.1. USA 6.7.2. Canada 6.7.3. Rest of North America 7. USA ENERGY EFFICIENT ELEVATORS MARKET ANALYSIS BY SEGMENT (COUNTRY-LEVEL ANALYSIS) 8. EUROPE ENERGY EFFICIENT ELEVATORS MARKET ANALYSIS BY SEGMENT (COUNTRY-LEVEL ANALYSIS) 8.1. Europe Energy Efficient Elevators Historical Market ($MILLION), (2017 – 2023) 8.2. Europe Energy Efficient Elevators Market ($MILLION) and Forecasts (2024 – 2030) 8.3. Europe Energy Efficient Elevators Market Type ($MILLION), and Forecasts (2024 – 2030), By Type 8.4. Europe Energy Efficient Elevators Market Type ($MILLION), and Forecasts (2024 – 2030), ByCapacity 8.5. Europe Energy Efficient Elevators Market Type ($MILLION), and Forecasts (2024 – 2030), By Application 8.6. Europe Energy Efficient Elevators Market Type ($MILLION), and Forecasts (2024 – 2030), By Technology 8.7. Europe Energy Efficient Elevators Market Type ($MILLION), and Forecasts (2024 – 2030), By Geography 8.7.1. Germany 8.7.2. France 8.7.3. UK 8.7.4. Italy 8.7.5. Spain 8.7.6. Rest of Europe 9. APAC ENERGY EFFICIENT ELEVATORS MARKET ANALYSIS BY SEGMENT (COUNTRY-LEVEL ANALYSIS) 9.1. APAC Energy Efficient Elevators Historical Market ($MILLION), (2017 – 2023) 9.2. APAC Energy Efficient Elevators Market ($MILLION) and Forecasts (2024 – 2030) 9.3. APAC Energy Efficient Elevators Market Type ($MILLION), and Forecasts (2024 – 2030), By Type 9.4. APAC Energy Efficient Elevators Market Type ($MILLION), and Forecasts (2024 – 2030), ByCapacity 9.5. APAC Energy Efficient Elevators Market Type ($MILLION), and Forecasts (2024 – 2030), ByApplication 9.6. APAC Energy Efficient Elevators Market Type ($MILLION), and Forecasts (2024 – 2030), By Technology 9.7. APAC Energy Efficient Elevators Market Type ($MILLION), and Forecasts (2024 – 2030), By Geography 9.7.1. China 9.7.2. Japan 9.7.3. South Korea 9.7.4. India 9.7.5. Australia 9.7.6. Rest of APAC 10. LATIN AMERICA ENERGY EFFICIENT ELEVATORS MARKET ANALYSIS BY SEGMENT (COUNTRY-LEVEL ANALYSIS) 10.1. Latin America Energy Efficient Elevators Historical Market ($MILLION), (2017 – 2023) 10.2. Latin America Energy Efficient Elevators Market ($MILLION) and Forecasts (2024 – 2030) 10.3. Latin America Energy Efficient Elevators Market Type ($MILLION), and Forecasts (2024 – 2030), By Type 10.4. Latin America Energy Efficient Elevators Market Type ($MILLION), and Forecasts (2024 – 2030), ByCapacity 10.5. Latin America Energy Efficient Elevators Market Type ($MILLION), and Forecasts (2024 – 2030), ByApplication 10.6. Latin America Energy Efficient Elevators Market Type ($MILLION), and Forecasts (2024 – 2030), By Technology 10.7. Latin America Energy Efficient Elevators Market Type ($MILLION), and Forecasts (2024 – 2030), By Geography 10.7.1. Brazil 10.7.2. Argentina 10.7.3. Rest of Latin America 11. COMPANY PROFILES: 11.1. OTIS ELEVATOR COMPANY 11.1.1. Company Overview 11.1.2. Company Snapshot 11.1.3. Operating business segments 11.1.4. Product offered and Revenue 11.1.5. Production & Sales 11.2. KONE Corporation 11.3. Schindler Group 11.4. Thyssenkrupp AG 11.5. Mitsubishi Electric Corporation 11.6. Hitachi Ltd. 11.7. Fujitec Co., Ltd. 11.8. OTHER MARKET PLAYERS