South Korea Elevator Safety Gear Market was valued at USD 0.3 Billion in 2022 and is projected to reach USD 0.5 Billion by 2030, growing at a CAGR of 6.5% from 2024 to 2030.
The South Korea Elevator Safety Gear Market is witnessing substantial growth as the country continues to expand its infrastructure, especially with the rise in urbanization and vertical construction projects. Elevator safety gear plays a crucial role in ensuring the smooth and safe operation of lifts, which are essential for multi-story buildings, commercial spaces, and residential complexes. The need for safety gear in elevators has become more apparent with increasing awareness of the potential risks and accidents that can occur without proper safety measures in place. This growing demand is significantly influenced by the ongoing industrial requirements and technological advancements in the region.
Industries, particularly those in the construction, real estate, and hospitality sectors, have increasingly become more stringent in their safety protocols. This has driven the demand for advanced elevator safety gear such as buffers, overload sensors, speed governors, and safety brakes. The necessity for these components is further emphasized by the high volume of high-rise buildings, shopping malls, and office towers being developed in major cities like Seoul, Busan, and Incheon.
The elevator safety gear market in South Korea is also influenced by government regulations and standards. Authorities have introduced stricter elevator safety codes to minimize accidents and ensure public safety. These codes require that elevators be equipped with state-of-the-art safety equipment to guarantee the safety of passengers, such as emergency stop switches, door safety sensors, and anti-crushing devices. Manufacturers in South Korea are meeting these requirements by developing innovative and reliable safety gear, ensuring compliance with safety standards.
Technological advancements have also played a role in the transformation of the elevator safety gear market. With the rise of smart elevator systems, new safety gear components are being introduced to ensure seamless integration with automation and advanced control systems. As a result, the market is seeing the development of intelligent safety gear that can monitor elevator performance in real-time, providing alerts in case of malfunctions and preventing accidents.
The growing demand for elevator safety gear is further supported by the increasing focus on maintaining operational efficiency and reliability. Companies and building owners are looking to invest in long-lasting and high-performance safety gear to ensure minimal downtime and reduce maintenance costs. As South Korea continues to lead in innovation and urban development, the Elevator Safety Gear Market remains a crucial part of the country’s industrial landscape.
Get an In-Depth Research Analysis of the South Korea Elevator Safety Gear Market Size And Forecast [2025-2032]
Â
Wittur (Germany)
ThyssenKrupp (Germany)
SLC Sautter Lift (Germany)
P.F.B. (Italy)
DYNATECH (Spain)
Cobianchi Liftteile (Switzerland)
Hangzhou Huning (China)
Shanghai Liftech (China)
Ningbo Xinda (China)
Dongfang Fuda (China)
Tianjin Guotai (China)
Ningbo Shenling (China)
Ningbo Aodepu (China)
Â
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
Get Discount On The Purchase of the South Korea Elevator Safety Gear Market Size And Forecast [2025-2032]
Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Elevator Safety Gear Market
Personal Protective Equipment (PPE)
Safety Harnesses
Lifting Devices
Guard Rails
Fall Arrest Systems
Construction Sites
Industrial Facilities
Maintenance Work
Elevator Installation
Residential Use
Construction Companies
Elevator Manufacturers
Facility Management Firms
Maintenance Service Providers
Individual Consumers
Online Retailers
Physical Stores
Wholesale Distributors
Direct Sales
Third-Party Marketplaces
OSHA Standards
ANSI Certification
ISO Standards
EN Standards
National Safety Council Guidelines
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
For More Information or Query, Visit @ South Korea Elevator Safety Gear Market Research Analysis
1. Introduction of the South Korea Elevator Safety Gear Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Elevator Safety Gear Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Elevator Safety Gear Market, By Type
6. South Korea Elevator Safety Gear Market, By Application
7. South Korea Elevator Safety Gear Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Elevator Safety Gear Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
About Us: Verified Market Reports
Verified Market Reports is a leading Research and Consulting firm servicing over 5000+ clients. We provide advanced analytical research solutions while offering information-enriched research studies. We also offer insights into strategic and growth analyses and data necessary to achieve corporate goals and critical revenue decisions.
Our 250 Analysts and SMEs offer a high level of expertise in data collection and governance using industrial techniques to collect and analyze data on more than 25,000 high-impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise, and years of collective experience to produce informative and accurate research.
Contact us:
Mr. Edwyne Fernandes
US: +1 (650)-781-4080
US Toll-Free: +1 (800)-782-1768
Website: https://www.verifiedmarketreports.com/