• June 2019 - Hitachi announced a contract with Phoenix Group to supply a total of 106 elevator units. Through this contract, the company will supply elevators for large-scale office buildings, Phoenix Spaces 285 and Phoenix Aquila, which are to be constructed in Hyderabad.

• March 2019 - Mitsubishi Electric Corporation announced that its subsidiary, Mitsubishi Elevator India Private Limited (IMEC), will launch the NEXIEZ-LITE MRL elevator. This Indian-produced model does not require a machine room. The model will be added to the NEXIEZ-LITE series of elevators for midrise and low-rise residences, office buildings, and hotels in India.

• February 2019 - KONE Corporation, which is a prominent player in the elevator and escalator industry, received an order to provide energy-efficient elevators and a destination control system for an office tower that is under construction at Vancouver, BC, Canada. The project consists of a 25-story building with the ground floor as a retail space and 24 levels of office space.

In this report, the Energy Efficient Elevators Market has been segmented by Control Systems, Capacity, Automation Systems, End User, and Geography.

Enery Efficient Elevators Market, Segmentation by Control Systems

The Energy Efficient Elevators Market has been segmented by Control Systems into Elevator Control System & Access Control System - Card-based Access Control Systems, Biometric Access Control Solutions, and Keypad-based Access Control Systems

Elevator Control System
The Elevator Control System segment plays a pivotal role in ensuring smooth vertical transit and minimizing energy consumption. These systems manage elevator operations intelligently, optimizing speed, direction, and load handling. With growing urban infrastructure, this segment commands a substantial over 40% share of the energy efficient elevators market.

Card-based Access Control Systems
These systems use smart cards or RFID cards to permit access to designated floors or areas. They are widely adopted in commercial and residential complexes due to ease of integration and cost-efficiency. Accounting for around 18% of the market, they are favored for their balance of security and convenience.

Biometric Access Control Solutions
By utilizing fingerprint, facial, or iris recognition, biometric systems provide high-level security and user-specific access. Their usage is growing in corporate offices, high-rise buildings, and sensitive areas, capturing nearly 15% of the access control market due to their enhanced authentication precision.

Keypad-based Access Control Systems
Keypad-based systems require users to input a pre-set numeric code for access. These are prevalent in low to mid-tier buildings and smaller institutions. While their market share is modest at about 10%, they remain popular for their simplicity and low maintenance.

Energy Efficient Elevators Market, Segmentation by Capacity

The Energy Efficient Elevators Market has been segmented by Capacity into Low Capacity (Up to 1,000 kg), Medium Capacity (Up to 2,000 kg), and High Capacity (Over 2,000 kg)

Low Capacity (Up to 1,000 kg)
Low capacity elevators are ideal for residential buildings and low-rise commercial structures. These elevators prioritize compact design and energy efficiency, catering to buildings with moderate traffic. This segment represents around 35% of the energy efficient elevators market.

Medium Capacity (Up to 2,000 kg)
Medium capacity elevators serve mid-rise offices, shopping complexes, and institutional facilities. They offer a balance between space efficiency and load performance, making up nearly 45% of the market due to their versatility across applications.

High Capacity (Over 2,000 kg)
High capacity elevators are built for high-rise buildings, airports, and industrial use, where transporting large groups or heavy loads is essential. Though used in niche settings, they account for roughly 20% of the market, driven by demand in infrastructure-heavy zones.

Energy Efficient Elevators Market, Segmentation by Automation Systems

The Energy Efficient Elevators Market has been segmented by Automation Systems into Motors & Drivers, Sensors & Controllers, and Building Management Systems

Industrial
The industrial segment uses energy efficient elevators for material handling and freight transport in factories and warehouses. With a focus on durability and high load capacity, this segment contributes approximately 18% to the overall market.

Commercial
Commercial spaces like offices, malls, and hotels drive significant demand for energy efficient elevators. Prioritizing high-frequency usage and space optimization, this segment leads the market with over 42% share.

Residential
In residential buildings, energy efficient elevators are favored for their compact design, silent operation, and low energy footprint. This segment accounts for around 30% of the market, driven by urban housing growth and sustainability mandates.

Others
This category includes specialized uses in government buildings, educational institutions, and healthcare facilities. Though niche, it maintains a steady presence with nearly 10% market contribution due to rising retrofitting projects.

Energy Efficient Elevators Market, Segmentation by End User

The Energy Efficient Elevators Market has been segmented by End User into Industrial, Commercial, Residential, and Others

Industrial
The industrial segment uses energy efficient elevators for material handling and freight transport in factories and warehouses. With a focus on durability and high load capacity, this segment contributes approximately 18% to the overall market.

Commercial
Commercial spaces like offices, malls, and hotels drive significant demand for energy efficient elevators. Prioritizing high-frequency usage and space optimization, this segment leads the market with over 42% share.

Residential
In residential buildings, energy efficient elevators are favored for their compact design, silent operation, and low energy footprint. This segment accounts for around 30% of the market, driven by urban housing growth and sustainability mandates.

Others
This category includes specialized uses in government buildings, educational institutions, and healthcare facilities. Though niche, it maintains a steady presence with nearly 10% market contribution due to rising retrofitting projects.

Energy Efficient Elevators Market, Segmentation by Geography

In this report, the Energy Efficient Elevators Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Energy Efficient Elevators Market Share (%), by Geographical Region

North America
North America commands a significant portion of the energy efficient elevators market, driven by advanced infrastructure modernization and strict energy regulations. This region contributes to over 30% of the global share, with growing adoption in smart buildings and commercial real estate sectors.

Europe
Europe follows closely with nearly 25% market share, propelled by stringent environmental policies and increasing retrofitting of old elevator systems. The presence of leading green technology manufacturers and high investment in sustainable construction are key growth drivers in this region.

Asia Pacific
The Asia Pacific region is emerging as the fastest-growing market, accounting for about 28% of the global demand. Rapid urbanization, rising high-rise construction, and government push towards energy efficiency in countries like China, India, and Japan are boosting adoption of these elevators.

Middle East and Africa
This region holds close to 10% of the market share, fueled by expansion in infrastructure development and luxury real estate projects. Governments are increasingly integrating sustainability standards into urban planning, which supports market growth for energy-saving vertical transport solutions.

Latin America
Latin America contributes around 7% of the global market, led by increasing demand for energy-efficient technologies in commercial buildings. Brazil and Mexico are key countries investing in eco-friendly infrastructure and modernizing elevator systems for better energy performance.

This report provides an in depth analysis of various factors that impact the dynamics of Global Energy Efficient Elevators Market. These factors include; Market Drivers, Restraints and Opportunities Analysis.

Drivers, Restraints and Opportunity Analysis

Drivers

• Urbanization drives demand for vertical transport
• Emphasis on building sustainability standards
• Energy savings through regenerative drives

• Integration of smart technologies in elevators - The integration of smart technologies in energy-efficient elevators is transforming the global market landscape. Features such as IoT-enabled diagnostics, real-time monitoring, and predictive maintenance are becoming standard, enabling reduced energy consumption and improved system uptime. These technologies also optimize traffic flow within buildings, increasing both convenience and energy performance.

  Smart elevators can adapt to user behavior, reduce idle time, and allocate cabin movement more efficiently. This results in significant energy savings and smoother operations in commercial high-rises and residential complexes. The rise in building automation systems is also complementing the demand for these intelligent elevator systems.

  As smart city initiatives proliferate across the globe, the implementation of AI-driven elevator solutions has become increasingly relevant. These advancements support remote control, data analytics, and energy usage monitoring, aligning with sustainability goals. Building managers now prefer integrated elevator systems for better control and cost management.

  The growth in urban population density and demand for connected infrastructure further boosts the adoption of smart elevator solutions. With increasing emphasis on energy optimization and user experience, smart technologies are playing a pivotal role in shaping the future of elevator systems.

Restraints:

• High initial investment for modernization
• Complex retrofitting in older structures
• Limited awareness in developing economies

• Maintenance cost concerns among end-users - Despite their long-term benefits, energy-efficient elevators often carry higher maintenance costs due to their advanced components and digitized systems. Frequent software updates, diagnostic tools, and the need for technically trained personnel raise operational expenses. These recurring costs deter adoption, especially in cost-sensitive markets.

  Many small and mid-sized buildings are reluctant to upgrade to energy-efficient systems due to perceived or actual high ownership costs. Even though such systems reduce energy bills over time, the initial and ongoing service costs create a significant financial barrier. Return on investment becomes a critical concern for budget-conscious stakeholders.

  In regions where technician availability and expertise are limited, service delays and maintenance complications add to user dissatisfaction. The lack of standardization in service protocols and brand-specific support requirements further complicates maintenance management and disrupts building operations.

  To overcome this challenge, manufacturers must focus on streamlining maintenance services, reducing component costs, and enhancing product reliability. Without affordable servicing options, widespread adoption of smart energy-saving elevators will remain constrained.

Opportunities

• Growth in green commercial infrastructure
• Government initiatives for energy efficiency
• Rapid smart city development globally

• Expansion in high-rise residential buildings - The global surge in high-rise residential developments presents a strong growth opportunity for the energy-efficient elevators market. Urban migration and land scarcity are driving vertical construction, particularly in Asia-Pacific and Middle Eastern cities. These projects require advanced elevator systems to ensure energy-efficient vertical mobility for residents.

  Real estate developers are increasingly prioritizing eco-friendly technologies to meet sustainability certifications such as LEED or BREEAM. Energy-efficient elevators, with their low standby energy use and regenerative braking systems, align with these certification requirements and help developers market their projects as green buildings.

  Government-backed urban housing initiatives and smart city infrastructure investments are further fueling demand. Energy-efficient elevators ensure compliance with modern building codes and contribute to energy conservation targets. Builders in developing regions are adopting these systems to future-proof their high-rise assets.

  With consumer demand rising for sustainable and intelligent housing, the installation of such elevators becomes a competitive advantage. Their integration into residential skyscrapers not only enhances energy savings but also improves comfort and accessibility, increasing overall property value and tenant satisfaction.

Key players in Energy Efficient Elevators Market include:

• Hitachi Ltd
• Mitsubishi Electric Corporation
• Hyundai Elevators Co. Ltd
• KONE Corporation

In this report, the profile of each market player provides following information:

• Company Overview and Product Portfolio
• Market Share Analysis
• Key Developments
• Financial Overview
• Strategies
• Company SWOT Analysis