Europe Geared Elevator Traction Motor Market was valued at USD 900 Million in 2022 and is projected to reach USD 1.5 Billion by 2030, growing at a CAGR of 5.5% from 2024 to 2030.
The Geared Elevator Traction Motor market in Europe is witnessing substantial growth driven by the increasing demand for energy-efficient and reliable elevator systems. These motors, integral to the smooth functioning of modern elevators, are experiencing heightened interest from various industries, particularly those requiring heavy-duty and high-performance elevators. As cities continue to build taller structures, the need for advanced traction motors in elevators has never been more crucial. The European market for geared elevator traction motors has thus become a critical aspect of the growing infrastructure sector.
Industries such as commercial buildings, residential complexes, and manufacturing plants are pushing the demand for geared elevator traction motors. These elevators are designed to carry heavy loads over long vertical distances, requiring motors that not only provide superior performance but also remain energy-efficient. Geared elevator traction motors play a pivotal role in ensuring that elevators operate at optimal speeds while minimizing power consumption.
In particular, the commercial sector is heavily influencing the market, with the rise of high-rise buildings and skyscrapers driving the demand for more robust elevator systems. Similarly, the residential sector is showing an increasing preference for energy-saving solutions, prompting manufacturers to invest in motors that offer quiet operation and long-term durability. Manufacturing plants also require specialized motors for industrial elevators, further expanding the need for geared elevator traction motors.
One of the key requirements from these industries is the necessity for motors that are compact yet powerful enough to handle heavy loads. As vertical transportation continues to evolve, industries expect advanced features such as better torque control, quieter operation, and low maintenance costs. Furthermore, the push for sustainability has led to increased demand for motors that comply with strict energy efficiency standards, reducing both operational costs and environmental impact.
The Geared Elevator Traction Motor market is also influenced by innovations in technology. Smart, connected systems are being integrated into elevators, offering real-time monitoring and predictive maintenance features. These advancements are pushing motor manufacturers to develop solutions that can seamlessly integrate into smart buildings, further expanding the scope of the market.
As the market evolves, manufacturers are focusing on enhancing motor efficiency while meeting the specific needs of diverse industries. With growing urbanization and the need for high-performance elevator systems, the European geared elevator traction motor market is poised for continued growth in the coming years.
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Imperial Electric
Ningbo Xinda Elevator Traction Technology
Xizi Forvorda
Suzhou Torin Drive Equipment
Otis
Kone
Kinetek
Shenyang Bluelight
Hiwin
Mitsubishi Electric
Yaskawa
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.
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Growing demand for below applications around the world has had a direct impact on the growth of the Europe Geared Elevator Traction Motor Market
AC Geared Traction Motors
DC Geared Traction Motors
Permanent Magnet Geared Traction Motors
Induction Geared Traction Motors
Less than 10 kW
10 kW to 50 kW
51 kW to 100 kW
Above 100 kW
Residential Elevators
Commercial Elevators
Industrial Elevators
Hospital Elevators
Single Speed
Variable Speed
Building Contractors
Elevator Manufacturers
Maintenance and Service Providers
Real Estate Developers
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
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1. Introduction of the Europe Geared Elevator Traction Motor 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. Europe Geared Elevator Traction Motor Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Europe Geared Elevator Traction Motor Market, By Type
6. Europe Geared Elevator Traction Motor Market, By Application
7. Europe Geared Elevator Traction Motor Market, By Geography
Europe
Germany
UK
France
8. Europe Geared Elevator Traction Motor Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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