Elevator Ropes Market Size, Share, Growth, and Industry Analysis, By Type (Fiber Core (FC), Independent Wire Rope Core (IWRC), Others), By Application (Traction Elevator, Hydraulic Elevator, Machine-Room-Less (MRL) Elevator), Regional Insights and Forecast to 2033

Elevator Ropes Market Overview

Global Elevator Ropes market size is projected at USD 812.52 million in 2024 and is expected to hit USD 1107.28 million by 2033 with a CAGR of 3.5%.

The elevator ropes market is a critical segment in the global vertical transportation ecosystem, supporting the infrastructure of commercial, residential, and industrial buildings. With over 18 million elevators in operation worldwide, approximately 60% rely on steel wire ropes for traction, highlighting the demand for high-tensile, fatigue-resistant ropes. Fiber Core (FC) and Independent Wire Rope Core (IWRC) types are most prevalent, with IWRC holding around 70% of the share in premium elevator systems due to superior load-bearing capacity and resistance to elongation.

In Japan alone, nearly 900,000 elevators are in service, most of which use IWRC ropes. China, as the leading elevator manufacturing hub, produces over 800,000 units annually, fueling rope demand domestically and internationally. The average lifespan of elevator ropes is 7 to 10 years, and replacements account for over 30% of the aftermarket demand. Increased high-rise construction and retrofitting activities in countries such as India, Brazil, and Indonesia further propel the replacement and new installation markets. Innovations in rope design, such as compacted strand structures and plastic-infused coatings, have enhanced durability by 15%-20%, supporting safer and longer-lasting elevator operation.

Key Findings

Top Driver reason: Growing urbanization has intensified demand for high-rise buildings, directly increasing the need for high-performance elevator ropes.

Top Country/Region: China leads the global market with production exceeding 800,000 elevator units annually, requiring extensive rope infrastructure.

Top Segment: IWRC (Independent Wire Rope Core) dominates usage with approximately 70% share in traction elevators due to superior strength and load support.

Elevator Ropes Market Trends

Elevator ropes are increasingly integrated with advanced materials to improve fatigue resistance, bendability, and lifespan. In 2023, over 40% of elevator ropes in new installations in urban cities featured compacted strand designs, reducing rope diameter by 10%-15% without compromising strength. Additionally, the adoption of plastic-coated ropes has risen by 25% compared to 2020, offering better protection against corrosion and reducing maintenance frequency by 30%.

In traction elevators, which account for nearly 80% of high-rise installations globally, rope flexibility has become a key innovation focus. Ropes with smaller bending radii can extend life cycles up to 20%, especially in elevators with over 500 cycles per day. Sustainability trends have also impacted materials, with over 15% of manufacturers now incorporating recyclable steel or fiber blends.

The demand for machine-room-less (MRL) elevators grew by 18% from 2022 to 2023, driving interest in ultra-lightweight ropes. These ropes reduce the total system weight by up to 25%, improving energy efficiency. Moreover, smart rope monitoring systems, installed in over 12,000 elevators in 2023 alone, use embedded sensors to analyze wear, elongation, and tensile force, enabling predictive maintenance that reduces downtime by 40%.

Elevator Ropes Market Dynamics

DRIVER

Urbanization-driven infrastructure growth in emerging economies

In 2023, over 60% of global high-rise buildings under construction were located in Asia-Pacific, where urban density has led to vertical expansion of cities. As building heights increase, elevator travel distance grows, thereby demanding ropes with higher tensile strength and fatigue resistance. China added more than 140 new skyscrapers in 2023, each equipped with multiple elevator systems using ropes with diameters ranging from 8 mm to 12 mm. Similarly, India saw a 22% increase in high-rise construction permits in metro regions, pushing the elevator installation count beyond 75,000 units for the year. These installations typically require rope lengths exceeding 80 meters, making durable, long-life ropes a crucial component.

RESTRAINT

Dependence on conventional materials limits innovation

The elevator ropes industry still relies heavily on traditional steel wire ropes, which constitute more than 85% of global usage. Despite the availability of advanced composite materials, industry-wide adoption remains slow due to regulatory inertia and compatibility constraints with existing elevator systems. The average transition cost to alternative materials exceeds $2,500 per unit in retrofitted elevators. Manufacturers remain hesitant to shift production lines away from standardized steel, limiting opportunities for lighter and more corrosion-resistant options, especially in coastal or high-humidity environments.

OPPORTUNITY

Technological advancements in monitoring and predictive maintenance

Elevator ropes now benefit from embedded sensors and IoT-based solutions that track real-time tensile stress, vibration frequency, and elongation. In 2024, more than 18,000 smart elevators globally were installed with rope condition monitoring devices, a 40% increase over the previous year. This innovation enables operators to extend rope life by 10%-15% while reducing unexpected maintenance events by 35%. Predictive analytics platforms integrated with rope systems are particularly attractive for commercial skyscrapers with daily usage exceeding 1,000 trips. Manufacturers are investing in R&D to improve sensor accuracy within ±5% of actual load, opening a high-margin niche within traditional rope segments.

CHALLENGE

Rising steel prices and supply chain disruptions

The global elevator ropes market faces volatility due to fluctuating steel prices, which increased by 17% from 2022 to 2023. Since each rope assembly can contain over 25 kg of drawn steel wire, cost spikes directly impact production margins. In Europe, raw material shortages delayed rope production by 2 to 4 weeks during the second half of 2023. Similarly, logistics disruptions led to a 12% drop in timely deliveries to North American markets. Smaller players with limited inventory capacity suffered higher lead times and were unable to meet contractual deadlines, particularly in public infrastructure projects.

Elevator Ropes Market Segmentation

Elevator ropes are segmented by type and application to serve varied building needs. By type, the market includes Fiber Core (FC), Independent Wire Rope Core (IWRC), and Others. By application, ropes are used in traction elevators, hydraulic elevators, and machine-room-less (MRL) systems. Each segment exhibits different performance, usage volume, and cost structures. IWRC ropes, due to their superior strength, are most used in traction and MRL elevators, especially in commercial and high-rise applications where load-bearing and longevity are critical.

By Type

• Fiber Core (FC): Fiber Core ropes, constituting nearly 20% of installations, are made using natural or synthetic fibers embedded within steel strands. These cores offer enhanced flexibility and better cushioning, reducing internal friction. Used primarily in low-rise and mid-speed elevators, FC ropes are preferred in residential buildings under 12 floors. In 2023, over 350,000 such ropes were sold globally, with Asia accounting for 60% of consumption.
• Independent Wire Rope Core (IWRC): IWRC types dominate with over 70% market share. The steel core within IWRC provides superior tensile strength, ideal for elevators with frequent usage and higher passenger loads. In high-rise buildings exceeding 20 stories, IWRC ropes are the standard. Their typical breaking strength ranges from 1,770 MPa to 2,160 MPa. As of 2023, more than 2 million elevators worldwide relied on IWRC ropes.
• Others: This segment includes plastic-infused or hybrid composite ropes, currently under 10% market share. Used in specialty environments such as marine buildings or hospitals, these ropes offer high corrosion resistance and lighter weight. Although niche, the segment grew by 12% from 2022 to 2023.

By Application

• Traction Elevator: Traction elevators comprise over 75% of all commercial elevator installations. They use counterweights and ropes for movement. Rope lengths for these systems range from 30 meters in mid-rise to over 100 meters in high-rise buildings. In 2023, over 1.2 million traction elevators were in operation in urban business districts worldwide.
• Hydraulic Elevator: Used primarily in buildings with less than 6 floors, hydraulic elevators require ropes only in select configurations. These account for around 15% of global installations. In the U.S., approximately 90,000 buildings use hydraulic elevators fitted with secondary ropes for safety or support mechanisms.
• Machine-Room-Less (MRL) Elevator: MRL elevators saw 18% growth in installation in 2023. Their compact design demands ropes with high flexibility and reduced diameter. Nearly 240,000 MRL units installed in Asia-Pacific incorporated ultra-lightweight rope designs between 6 mm and 8 mm in diameter.

Elevator Ropes Market Regional Outlook

The elevator ropes market exhibits varied growth dynamics across regions.

• North America

The U.S. accounts for more than 900,000 active elevators, with 60% using IWRC ropes. Retrofitting in metropolitan areas like New York and Chicago drove over 55,000 rope replacements in 2023. Canada also reported 9% growth in mid-rise commercial installations, requiring high-strength ropes with lifespans exceeding 10 years.

• Europe

Germany, France, and Italy lead the European market, with over 1.1 million elevators. In Germany alone, more than 35,000 new elevator units were commissioned in 2023, each requiring rope assemblies ranging from 40 to 120 meters. Strict EU safety regulations boost demand for certified IWRC systems, accounting for 85% of installations.

• Asia-Pacific

China and India dominate this region. China, producing 800,000+ elevators annually, requires over 20,000 km of elevator ropes each year. India installed over 75,000 elevators in 2023, especially in Tier 1 cities. Southeast Asian countries like Vietnam and Malaysia recorded double-digit growth in commercial high-rise construction, enhancing demand for premium ropes.

• Middle East & Africa

The UAE, Saudi Arabia, and South Africa are major contributors. Dubai's continued high-rise development added over 8,000 elevator units in 2023. Riyadh’s smart city initiatives require ropes that support IoT-integrated elevators. Africa’s demand is centered around economic zones and logistics buildings, with more than 5,000 elevators installed regionally last year.

List of Top Elevator Ropes Market Companies

• PFEIFER
• Tokyo Rope Mfg
• Jiangsu Safety Wire Rope
• BRUGG Lifting AG
• Goldsun Wire Rope
• Gustav Wolf GmbH
• Bekaert
• KISWIRE LTD
• Bharat Wire Ropes
• Usha Martin
• Santini Funi Srl

Top Two Companies with Highest Share

Usha Martin: holds one of the highest shares globally, with production exceeding 200,000 metric tons of wire rope annually, supplying ropes to over 70 countries.

BRUGG Lifting AG: dominates in premium segment ropes for high-rise applications, with installation footprints in more than 50 countries and advanced testing protocols ensuring fatigue cycles above 1.5 million.

Investment Analysis and Opportunities

The elevator ropes market is witnessing strategic investment inflows in advanced manufacturing, rope monitoring systems, and sustainable production. In 2023, global investments in elevator component manufacturing facilities exceeded $450 million, with 25% dedicated to rope production upgrades. BRUGG Lifting AG expanded its European manufacturing base by 14,000 sq.m to accommodate higher demand for compacted strand ropes, increasing production output by 20%.

In India, Usha Martin allocated capital towards high-tensile wire rope production with tensile strengths above 2,000 MPa to serve growing high-rise projects. Their new facility in Jharkhand enhanced monthly production by 18%. Meanwhile, Chinese manufacturers like Jiangsu Safety Wire Rope have automated over 65% of rope spooling and inspection processes, reducing defect rates by 30%.

Private equity interest in elevator component startups has also grown. In 2023, two Asia-based startups raised a combined $60 million to develop carbon composite ropes with self-diagnostic sensors. These products aim to lower elevator rope weight by 35%, with real-time strain monitoring across 3,000 data points per day.

New Product Development

R&D in the elevator ropes market has intensified over the past two years, focused on improving fatigue resistance, reducing system weight, and enabling predictive diagnostics. BRUGG Lifting AG launched a rope model in 2023 with a lifespan exceeding 2 million bending cycles, surpassing traditional IWRC ropes by 33%. The model integrates zinc-aluminum coatings that resist corrosion in humidity levels above 80%, reducing replacement frequency in tropical and coastal installations.

KISWIRE LTD introduced a hybrid core rope with embedded micro-sensors that transmit tensile data in real time to a centralized dashboard. In trials conducted across 500 elevators in South Korea, these ropes detected 97% of stress failures 5–10 days in advance. Similarly, Gustav Wolf GmbH unveiled ropes with ultra-fine wires (<0.2 mm) that increase flexibility by 15% while maintaining tensile strength.

In the area of sustainability, Tokyo Rope Mfg announced a new biodegradable fiber-rope hybrid aimed at low-rise buildings. The rope, composed of 60% recycled materials, is targeted at green-certified residential projects and achieved successful trials in Japan’s Osaka metro area. Additionally, Jiangsu Safety Wire Rope launched a compact rope with a unique six-layer winding technology that reduces rope diameter by 12% and increases drum capacity by 18%, offering better handling in space-constrained elevator shafts.

Five Recent Developments

• BRUGG Lifting AG: expanded its Switzerland facility in March 2023 to double production capacity of compacted strand ropes, enabling annual output of 60,000 units.
• Usha Martin: commissioned a new steel wire rope plant in Jharkhand in August 2023, adding 20,000 metric tons to its yearly capacity, dedicated to high-rise traction elevators.
• KISWIRE LTD: launched its smart rope line with integrated micro-sensors in July 2023, already deployed in over 500 commercial buildings in Korea and Singapore.
• Gustav Wolf GmbH: completed certification in November 2023 for a new anti-fatigue rope tested for 2 million cycles, now used in European railway stations and airport elevators.
• Tokyo Rope Mfg: began commercial production in February 2024 of its eco-friendly fiber-steel composite ropes, achieving 10% penetration in the Japanese residential elevator market.

Report Coverage of Elevator Ropes Market

This report comprehensively covers the elevator ropes market, offering detailed insights across material types, applications, geographic regions, and product innovations. The study includes over 100 datasets on material composition, tensile strength, load capacity, replacement frequency, and lifespan benchmarks, relevant for both primary installation and aftermarket segments.

The report classifies the market by type (FC, IWRC, Others) and application (Traction, Hydraulic, MRL), providing a breakdown of usage scenarios, technical specifications, and volume demand in each segment. With over 60% of global elevator units using IWRC ropes, their market performance is deeply analyzed, including factors such as cycle durability and bending radius metrics.

Key market dynamics such as drivers, restraints, opportunities, and challenges are quantified using primary metrics like installation volume, load ratings (in kN), tensile capacity (in MPa), and average replacement intervals. For instance, the report quantifies that the average rope tension in high-speed elevators ranges from 2,000 N to 4,000 N, and that compacted strand ropes have enhanced rope life by over 30% in trials.

Frequently Asked Questions