In December 2024, the African Elevator Association (AEA) officially released the 2024 African Elevator Industry Development Report, announcing the 2024 Africa top 10 countries by elevator market size. According to the report, the total size of the African elevator market reached 1.86 billion US dollars in 2024, a year-on-year increase of 7.8%, the growth rate far exceeded the global average, making it one of the fastest growing regions in the global elevator market. The ranking released this time is as follows: 1. South Africa, with a market size of 420 million US dollars, accounting for 22.6% of the total African region, a year-on-year increase of 5.3%, firmly ranking first in Africa; 2. Egypt, with a market size of 380 million US dollars, accounting for 20.4% of the total African region, a year-on-year increase of 8.7%; 3. Nigeria, with a market size of 290 million US dollars, accounting for 15.6% of the total African region, a year-on-year increase of 10.2%, ranking first in Africa in terms of growth rate; 4. Kenya, with a market size of 170 million US dollars, accounting for 9.1% of the total African region, a year-on-year increase of 9.5%; 5. Morocco, with a market size of 150 million US dollars, accounting for 8.1% of the total African region, a year-on-year increase of 7.2%; 6. Algeria, with a market size of 120 million US dollars, accounting for 6.5% of the total African region, a year-on-year increase of 6.8%; 7. Ghana, with a market size of 90 million US dollars, accounting for 4.8% of the total African region, a year-on-year increase of 8.3%; 8. Tanzania, with a market size of 70 million US dollars, accounting for 3.8% of the total African region, a year-on-year increase of 7.9%; 9. Ethiopia, with a market size of 60 million US dollars, accounting for 3.2% of the total African region, a year-on-year increase of 8.5%; 10. Côte d'Ivoire, with a market size of 50 million US dollars, accounting for 2.7% of the total African region, a year-on-year increase of 7.6%. The report also pointed out that the accelerated urbanization process and continuous infrastructure construction in Africa are the core driving forces for the rapid growth of the regional elevator market, and the African elevator market will still maintain an average annual growth rate of more than 7% in the next 5 years.