In-Depth Gearless Elevator Traction Motor Market Overview 2025: Growth, Trends & Analysis
30 Apr, 2025
The Gearless Elevator Traction Motor Market Overview 2025 report reveals that the market size has grown significantly over the past few years, with projections indicating further expansion.
What are the Historical Growth Trends in the Gearless Elevator Traction Motor Market?
The market size of the gearless elevator traction motor has seen robust growth in the past few years. In terms of size, it is projected to expand from $5.00 billion in 2024 to $5.37 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 7.4%.
What are the 2025 Market Projections: Forecasted Size & Growth Rate for the Gearless Elevator Traction Motor Industry?
The Gearless Elevator Traction Motor Global Market is projected to expand to a size of $7.07 billion by 2029, with a compound annual growth rate (CAGR) of 7.1%.
Download Your Free Sample of the 2025 Gearless Elevator Traction Motor Market Report and Uncover Key Trends Now!What are the Key Growth Drivers Fueling the Gearless Elevator Traction Motor Market?
The key drivers in the gearless elevator traction motor market are:
• Rising demand for energy-efficient solutions
• Increasing need for high-rise buildings and efficient vertical transportation systems
• Population growth driving need for advanced transportation solutions
• Ongoing tech advancements & integration of the Internet of Things in elevator systems
Global Market Segmentation: Identifying Major Gearless Elevator Traction Motor Industry Segments
The gearless elevator traction motor market covered in this report is segmented –
1) By Type: Permanent Magnet Motor, AC Motor, DC Motor
2) By Technology: Smart Motors, Conventional Motors, High Efficiency Motors, Regenerative Motors
3) By Capacity: Low, Medium, High
4) By Application: Commercial, Residential, Industrial
5) By End Users: New Installation, Modernization
Subsegments:
1) By Permanent Magnet Motor: Synchronous Permanent Magnet Motors, Axial Flux Permanent Magnet Motors, Radial Flux Permanent Magnet Motors, High-Torque Permanent Magnet Motors
2) By AC Motor: Single-Phase AC Motors, Three-Phase AC Motors, High-Efficiency AC Motors, Low-Noise AC Motors
3) By DC Motor: Brushed DC Motors, Brushless DC Motors, High-Speed DC Motors, Energy-Efficient DC Motors
What are the emerging Trends Shaping the Future of the Gearless Elevator Traction Motor Market?
The key trends in the gearless elevator traction motor market are:
• Technological advancements are likely to shape the future market.
• There will be a development and increase in the usage of efficient elevator systems.
• Infrastructural development will also be a significant trend.
• The market will also be influenced by the integration of Internet of Things and advanced control systems.
Who Are the Top Competitors & Leading Players in the Gearless Elevator Traction Motor Market?
Major players in the gearless elevator traction motor market are:
• Hitachi Ltd.
• Siemens AG
• Thyssenkrupp AG
• Mitsubishi Electric Corporation
• Toshiba Corporation
• Nidec Corporation
• Otis Elevator Company
• Schindler Holding AG
• Kone Corporation
• Hyundai Elevator Co. Ltd.
• Hiwin Technologies Corp.
• Kleemann Elevators S.A.
• Ningbo Xinda Elevator Traction Technology Co. Ltd.
• Fujitec Co. Ltd.
• Suzhou Torin Drive Equipment Co. Ltd.
• Cheng Day Machinery Works
• Xizi Forvorda Co. Ltd.
• Fenoja Oy
• Shanghai ZanFeng Technology Co. Ltd.
• Mont Drive Systems Co. Ltd.
Regional Dominance: Which Area Leads the Global Template Market?
Asia-Pacific was the largest region in the gearless elevator traction motor market in 2024