In December 2025, Future Market Insights, a global authoritative industry research institution, officially released the 2025 Global Old Elevator Renovation Industry Market Report, announcing the 2025 global top 10 countries by old elevator renovation market size. According to the report, the total size of the global old elevator renovation market reached 21.5 billion US dollars in 2025, a year-on-year increase of 12.8%, making it one of the fastest growing sub-sectors in the elevator industry. The TOP 10 ranking released this time is as follows: 1. China, with a market size of 8.6 billion US dollars, accounting for 40.0% of the global total, a year-on-year increase of 15.5%, firmly ranking first in the world; 2. United States, with a market size of 3.225 billion US dollars, accounting for 15.0% of the global total, a year-on-year increase of 10.8%; 3. EU 27 countries, with a market size of 3.01 billion US dollars, accounting for 14.0% of the global total, a year-on-year increase of 9.7%; 4. Japan, with a market size of 2.15 billion US dollars, accounting for 10.0% of the global total, a year-on-year increase of 10.2%; 5. South Korea, with a market size of 1.075 billion US dollars, accounting for 5.0% of the global total, a year-on-year increase of 11.3%; 6. Canada, with a market size of 645 million US dollars, accounting for 3.0% of the global total, a year-on-year increase of 10.5%; 7. Australia, with a market size of 430 million US dollars, accounting for 2.0% of the global total, a year-on-year increase of 10.7%; 8. Russia, with a market size of 430 million US dollars, accounting for 2.0% of the global total, a year-on-year increase of 9.8%; 9. Brazil, with a market size of 322.5 million US dollars, accounting for 1.5% of the global total, a year-on-year increase of 10.1%; 10. India, with a market size of 215 million US dollars, accounting for 1.0% of the global total, a year-on-year increase of 17.2%, ranking first among the top ten countries in the world in terms of growth rate. The report also pointed out that the continuous growth of global elevator ownership, the huge stock of old elevators with a service life of more than 15 years, the continuous tightening of elevator safety supervision policies in various countries, and the continuous advancement of old community renovation policies are the core driving forces for the growth of the old elevator renovation market. Elevator safety performance upgrading, energy-saving transformation, intelligent transformation, and age-friendly transformation have become the core development direction of the industry. The global old elevator renovation market will still maintain an average annual growth rate of more than 11% in the next 5 years.