In October 2025, Future Market Insights, a global authoritative industry research institution, officially released the 2025 Global Traction Elevator Industry Market Report, announcing the 2025 global top 10 countries by traction elevator market size. According to the report, the total size of the global traction elevator market reached 5.15 billion US dollars in 2025, accounting for 48.2% of the total global elevator complete machine market, with a year-on-year increase of 7.5%, making it the core sub-category of the elevator industry. The TOP 10 ranking released this time is as follows: 1. China, with a market size of 3.35 billion US dollars, accounting for 65.0% of the global total, a year-on-year increase of 9.2%, firmly ranking first in the world; 2. United States, with a market size of 380 million US dollars, accounting for 7.4% of the global total, a year-on-year increase of 5.7%; 3. Germany, with a market size of 250 million US dollars, accounting for 4.9% of the global total, a year-on-year increase of 4.8%; 4. Japan, with a market size of 210 million US dollars, accounting for 4.1% of the global total, a year-on-year increase of 4.2%; 5. South Korea, with a market size of 150 million US dollars, accounting for 2.9% of the global total, a year-on-year increase of 5.3%; 6. India, with a market size of 120 million US dollars, accounting for 2.3% of the global total, a year-on-year increase of 12.7%, ranking first among the top ten countries in the world in terms of growth rate; 7. France, with a market size of 110 million US dollars, accounting for 2.1% of the global total, a year-on-year increase of 4.5%; 8. Russia, with a market size of 90 million US dollars, accounting for 1.7% of the global total, a year-on-year increase of 5.8%; 9. Brazil, with a market size of 80 million US dollars, accounting for 1.6% of the global total, a year-on-year increase of 5.2%; 10. Italy, with a market size of 70 million US dollars, accounting for 1.4% of the global total, a year-on-year increase of 4.6%. The report also pointed out that traction elevators have become the mainstream elevator type for global residential, commercial buildings and super high-rise buildings by virtue of their core advantages of energy saving, high efficiency, stable operation and long service life. Machine-room-less traction elevators and permanent magnet synchronous traction elevators are the fastest growing sub-categories in the market. The transformation of old elevators and the installation of elevators in existing residential buildings are the core driving forces for market growth. The global traction elevator market will still maintain an average annual growth rate of more than 6% in the next 5 years.