Elevators & escalators: key companies worldwide based on revenue 2023
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In 2023, Otis ranked as the world's largest elevators and escalators manufacturer in terms of revenue. That year, Otis reported a revenue of 14.21 billion U.S. dollars. Schindler ranked second with a revenue of 13.66 billion U.S. dollars.
The world’s largest elevator and escalator makers
While the key vendors of elevators and escalators are based in the United States, Switzerland, Germany, Finland, and Japan, the most prolific markets for elevators and moving stairways include the world’s most populous countries such as China and India. In light of Asia’s stalling construction sector, it remains unsure if these markets will continue to perform well in the future, not only in terms of escalator and elevator installations, but also with respect to maintenance and repair services associated with these conveyances.
In the developed world, it is the increased age and low energy-efficiency of buildings and infrastructure, as well as an aging population in need of vertical transport that promises growth opportunities for companies in the field of elevators and escalators. Schindler, Kone, and Otis are ranked as the major elevator and escalator manufacturers worldwide.
The world’s largest elevator and escalator makers
While the key vendors of elevators and escalators are based in the United States, Switzerland, Germany, Finland, and Japan, the most prolific markets for elevators and moving stairways include the world’s most populous countries such as China and India. In light of Asia’s stalling construction sector, it remains unsure if these markets will continue to perform well in the future, not only in terms of escalator and elevator installations, but also with respect to maintenance and repair services associated with these conveyances.
In the developed world, it is the increased age and low energy-efficiency of buildings and infrastructure, as well as an aging population in need of vertical transport that promises growth opportunities for companies in the field of elevators and escalators. Schindler, Kone, and Otis are ranked as the major elevator and escalator manufacturers worldwide.
