The report analyzes the development trends and regional patterns of the global elevator market:

1) Business structure: Maintenance business will continue to contribute the largest market share due to the large global existing elevator base and obvious aging trend; modernization business has become the fastest-growing segment as a large number of old elevators in Europe and the United States enter the renewal cycle, with a compound annual growth rate of 7.2% expected from 2024 to 2027;

2) Regional pattern: The Asia-Pacific region will still occupy the largest market share, with China accounting for about half of the global elevator ownership. However, affected by real estate adjustments, China's new installation volume is difficult to recover in the short term and is expected to gradually pick up in 2026; growth in European and North American markets mainly comes from maintenance and modernization businesses; emerging markets such as Southeast Asia, the Middle East, and Africa will maintain rapid growth in new equipment;

3) Technology trends: Digitalization, intelligence, and sustainability will become the main directions of industry development, and technologies such as smart elevators, predictive maintenance, and energy-efficient elevators will be widely applied.