5 Largest Elevator Companies in the World

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Are you interested in the 5 largest elevator companies in the world? Great! We are here to discuss Insider Monkey’s latest article about it. Actually, the market of building and maintaining elevators have a few large players across the globe. It needs high technology and high precision engineering. Of course, the top players have an exceptional position, grabbing the largest piece of the pie. The elevator industry is predicted to grow to $114 billion in 2026 from a 70.95% in 2018. However, the pandemic hit the elevator industry as well, but as constructions haven’t stopped, there’s a demand for elevators. In the 21st century, modernization and urbanization have brought new challenges. As the cities can’t grow horizontally, they spread vertically. This results megalopolises from cities within a decade’s time. Skyscrapers grow from the ground every year, and these super-tall buildings need lots of elevators at high speed. If we take a look at the tallest buildings in the world, we can see there are several elevators in the buildings, and they move an extraordinarily high speed. Additionally, the demand for smart elevators has been in a rise recently.

So which are the largest elevator companies across the world? We will show you immediately, giving a short summarize of two companies from the entire list. At first, here’s Kone Elevator with a revenue of $12,124.8 million. Kone has 55,075 employees and is a global player regarding to mobility solutions worldwide. It’s headquartered in Finland and operates in building and servicing escalators and elevators, automatic doors and gates, and moving walkways. Kone has locations in more than 60 countries. Up on the list, here’s Schindler Group with a revenue of $12,685.3 million, The company has 67,057 employees. Schindler is a Switzerland-based company which provides delving into maintenance and modernization services. It owns around 1,000 branches in more than 100 countries, such as the United States, Europe, Brazil, India and China. For more information about this topic, please jump to the largest elevator companies in the world.

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