In December 2024, the South American Elevator Association (SAEA) officially released the 2024 South American Elevator Industry Development Report, announcing the 2024 South America top 10 countries by elevator market size. According to the report, the total size of the South American elevator market reached 2.28 billion US dollars in 2024, a year-on-year increase of 3.8%, maintaining a steady growth trend. The ranking released this time is as follows: 1. Brazil, with a market size of 980 million US dollars, accounting for 43.0% of the total South American region, a year-on-year increase of 4.6%, firmly ranking first in South America; 2. Argentina, with a market size of 320 million US dollars, accounting for 14.0% of the total South American region, a year-on-year increase of 3.5%; 3. Chile, with a market size of 270 million US dollars, accounting for 11.8% of the total South American region, a year-on-year increase of 3.2%; 4. Colombia, with a market size of 210 million US dollars, accounting for 9.2% of the total South American region, a year-on-year increase of 4.1%; 5. Peru, with a market size of 150 million US dollars, accounting for 6.6% of the total South American region, a year-on-year increase of 3.8%; 6. Mexico, with a market size of 120 million US dollars, accounting for 5.3% of the total South American region, a year-on-year increase of 3.5%; 7. Ecuador, with a market size of 80 million US dollars, accounting for 3.5% of the total South American region, a year-on-year increase of 3.9%; 8. Uruguay, with a market size of 60 million US dollars, accounting for 2.6% of the total South American region, a year-on-year increase of 2.8%; 9. Paraguay, with a market size of 50 million US dollars, accounting for 2.2% of the total South American region, a year-on-year increase of 3.1%; 10. Bolivia, with a market size of 40 million US dollars, accounting for 1.8% of the total South American region, a year-on-year increase of 2.9%. The report also pointed out that the continuous advancement of infrastructure construction and the acceleration of urbanization in South America are the core driving forces for the growth of the regional elevator market, and the South American elevator market will still maintain an average annual growth rate of more than 3% in the next 3 years.