Gearless Traction Elevators Market Size, Share & Report [2033]

Gearless Traction Elevators Market Overview

The Gearless Traction Elevators Market size was valued at USD 7920.95million in 2024 and is expected to reach USD 10984.61 million by 2033, growing at a CAGR of 3.7% from 2025 to 2033.

The gearless traction elevators market is a significant segment within the global vertical transportation industry, witnessing rapid growth due to increasing demand for high-rise buildings and modern infrastructure. Gearless traction elevators use a permanent magnet synchronous motor (PMSM) directly connected to the sheave, removing the need for a gearbox and increasing energy efficiency. Over 4.8 million elevators are in operation globally, and approximately 65% of these are traction-based. Gearless elevators account for over 40% of new installations in urban projects due to their quiet operation, higher speed, and smooth ride.

In 2023, more than 150,000 units of gearless traction elevators were installed globally, showing a marked preference over geared variants. The key demand comes from commercial towers (41%), residential complexes (36%), and infrastructure projects (23%). Urbanization and smart building initiatives in countries such as China, India, UAE, and Brazil are accelerating the market. In Asia-Pacific alone, more than 89,000 new installations were recorded in 2023. Furthermore, rising concerns around energy efficiency have led manufacturers to develop regenerative drive systems that recover and reuse up to 35% of elevator energy, increasing the adoption of gearless models.

Key Findings

Top Driver reason: Rising number of high-rise commercial and residential buildings globally, especially in urbanized regions.

Top Country/Region: China leads the global market with over 35,000 gearless elevator installations in 2023 alone.

Top Segment: The commercial segment dominates the market, accounting for over 41% of total gearless traction elevator installations.

Gearless Traction Elevators Market Trends

In 2023 and 2024, the gearless traction elevators market has demonstrated notable trends fueled by innovation, sustainability, and rapid urbanization. A major trend involves the growing demand for machine-room-less (MRL) elevators. These elevators eliminate the need for a dedicated machine room, thus reducing building space usage by 10%–15%, while maintaining high-speed performance. In 2023, MRL gearless elevators constituted over 52,000 global installations, with Asia-Pacific accounting for 58% of that volume.

Another trend is the integration of IoT and AI technologies. Gearless elevators are increasingly being fitted with sensors and predictive maintenance algorithms, resulting in a 24% reduction in downtime. Smart elevator technologies now dominate more than 30% of new commercial projects in developed countries. Moreover, with carbon emission regulations tightening, eco-efficient models that use regenerative drives are becoming mainstream. These systems recycle kinetic energy into electrical power, reducing energy consumption by up to 45%.

Customization in cabin aesthetics, noise-reduction technology, and seamless smartphone integration for calling elevators are also trending. A rise of 21% in luxury residential projects in regions like the UAE and Singapore has created a niche demand for designer gearless elevators. In addition, modular installation techniques are reducing setup time by 25–30%, leading to cost savings and faster deployment, especially in retrofit and renovation projects.

Gearless Traction Elevators Market Dynamics

DRIVER

Rapid Urban Infrastructure Development

The global increase in vertical construction, especially in megacities, has been a major growth driver. In 2023, over 540 skyscrapers (above 150 meters) were constructed globally. Gearless traction elevators, which offer higher speed, energy efficiency, and reduced maintenance, have been preferred in such structures. For instance, gearless models can travel at speeds exceeding 7 m/s, making them ideal for high-rise buildings. In China, India, and Indonesia, more than 75% of new skyscrapers opted for gearless technology.

RESTRAINT

High Initial Cost of Installation

Despite long-term savings on energy and maintenance, the upfront cost of installing gearless traction elevators remains significantly higher than conventional geared systems. On average, a gearless system can cost 30%–40% more per unit, making it less appealing for small-scale projects or buildings below 10 stories. For budget-sensitive regions like parts of Latin America and Africa, geared elevators are still being chosen, limiting gearless adoption. Moreover, gearless elevators require advanced technical expertise for installation and maintenance, adding to operational costs.

OPPORTUNITY

Smart Buildings and Green Certification Programs

The growing emphasis on green building certifications (LEED, BREEAM) and smart infrastructure is creating vast opportunities. Gearless elevators align with eco-standards due to their low energy consumption. In 2023, over 29% of new commercial constructions globally aimed for green certification, and more than 68% of them included gearless elevator systems. The push for digitization in building management systems is also opening up markets where elevators can be integrated into centralized building intelligence systems, with demand rising by 19% YoY in smart cities development plans.

CHALLENGE

Integration with Legacy Infrastructure

Retrofitting gearless traction elevators into older buildings is challenging due to space constraints and outdated frameworks. In Europe and Japan, where many urban buildings were constructed before 1990, incorporating gearless systems often requires structural changes that can cost up to 50% more than a new installation. Additionally, issues related to voltage compatibility, shaft size, and building codes complicate deployment. As a result, in over 60% of renovation projects, geared or hydraulic systems continue to be selected.

Gearless Traction Elevators Market Segmentation

The gearless traction elevators market can be segmented by type and application.
By type, the market is divided into Medium Speed and High Speed elevators. By application, it is segmented into Commercial and Household categories.

By Type

Medium Speed: Medium-speed gearless traction elevators, generally operating between 1.5 m/s and 3.5 m/s, dominate residential and mid-rise commercial structures. In 2023, over 86,000 medium-speed units were installed globally. These elevators are prevalent in countries with vertical growth in suburban zones like Brazil, Mexico, and India. They are also favored in healthcare and educational institutions where moderate speed and smooth performance are essential.
High Speed: High-speed models exceeding 3.5 m/s are primarily installed in skyscrapers, business towers, and transport hubs. In 2023, more than 64,000 high-speed gearless elevators were installed worldwide. China, with over 22,000 units, led the segment, followed by UAE and the US. Their increasing use in airports and metros, where vertical movement of people is critical, has driven adoption. The Tokyo Skytree and Shanghai Tower both feature ultra-high-speed gearless systems, showcasing the engineering focus on speed and reliability.

By Application

Commercial: The commercial segment, including offices, malls, hotels, and airports, dominated with over 41% market share in 2023. Gearless elevators are ideal in commercial spaces requiring fast, silent, and energy-efficient systems. North America accounted for 18,000 commercial installations, with significant contributions from airport terminals and government buildings. Integration with access control and smart monitoring systems also enhanced their commercial value.
Household: Residential installations are growing due to urban vertical expansion and premium housing demand. In 2023, the household segment saw over 55,000 installations worldwide, with Asia-Pacific contributing 67%. Luxury apartments and high-rise condominiums prefer gearless elevators for their quiet operation and low maintenance. Moreover, safety features like automatic rescue devices and touchless control systems are appealing to homebuyers.

Gearless Traction Elevators Market Regional Outlook

The global gearless traction elevators market is dominated by rapid growth in Asia-Pacific, followed by Europe, North America, and Middle East & Africa.

North America

In 2023, North America recorded over 28,000 new gearless installations, with the US accounting for 21,000 units. The majority were commercial applications, especially in urban centers like New York, Chicago, and Toronto. Retrofit programs supported by government energy-efficiency rebates contributed to 17% growth in the residential sector. The presence of major manufacturers and tech companies is further pushing IoT-based gearless systems.

Europe

Europe saw 24,500 installations in 2023, driven by smart city initiatives in Germany, UK, and France. Energy-saving regulations in the EU boosted adoption of regenerative drive systems. Germany alone accounted for 7,300 units, predominantly in high-tech business complexes and green-certified buildings. However, renovation complexity in older structures limits growth potential in some regions.

Asia-Pacific

Asia-Pacific leads globally with over 89,000 installations in 2023. China remains the top market, contributing 39% of total installations. India followed with 11,200 units, particularly in Tier 1 and Tier 2 cities. Japan and South Korea are also strong markets due to their technological edge and focus on premium elevator solutions. The market benefits from extensive real estate development and smart infrastructure investments.

Middle East & Africa

The Middle East and Africa saw 14,800 gearless elevator installations in 2023, led by the UAE, Saudi Arabia, and South Africa. Projects like NEOM in Saudi Arabia and Expo City in UAE are incorporating gearless elevators in their design. With tourism and high-rise construction booming, commercial applications dominate this region.

List of Top Gearless Traction Elevators Companies

Kone
Otis
Mona drive
SANEI Elevator
ThyssenKrupp
Mitsubishi
Hitachi
Cibes
Torin Drive
HOSTING
Schindler
FUJITEC

Top Two Companies with the Highest Share

Kone: In 2023, Kone accounted for approximately 13.2% of global gearless elevator shipments. Their Monospace series, especially popular in Europe and Asia, incorporates eco-efficient regenerative drives and AI-based monitoring, delivering up to 50% energy savings.

Otis: Otis held around 12.7% of the market, with Gen2 gearless elevators installed in over 3,000 commercial buildings across Asia-Pacific in 2023. The company emphasizes smart connectivity, with over 85% of its new units featuring IoT diagnostics.

Investment Analysis and Opportunities

The gearless traction elevators market is seeing robust investments in manufacturing expansion, smart technology, and sustainability. In 2023, more than $1.2 billion was invested globally in gearless elevator R&D and manufacturing infrastructure. Kone announced a new production facility in India targeting 25,000 units annually by 2025. Similarly, ThyssenKrupp invested over $400 million in its new test tower in Germany to experiment with ultra-high-speed gearless systems.

In developing countries, real estate growth is prompting private equity investments in elevator startups. Over $250 million was directed toward smart mobility tech firms in Asia during 2023. Governments are also pushing energy-efficient infrastructure; for instance, Japan offers rebates covering up to 25% of installation costs for gearless systems in public buildings.

The retrofit market is another key opportunity. In 2023, 21% of gearless elevator installations were replacements for older geared systems. This presents a significant opportunity in aging infrastructure across Europe and the US. Additionally, advancements in modular designs allow for quick deployment, making gearless elevators more appealing for large-scale renovation projects.

New Product Development

In the past two years, leading elevator companies have unveiled next-gen gearless elevators with cutting-edge features. In 2023, Mitsubishi Electric launched a smart elevator with 5G communication and biometric access, already deployed in over 1,000 buildings across Japan and Korea. These elevators can travel up to 10 m/s, making them ideal for ultra-tall buildings.

Schindler introduced an eco-efficient gearless model with zero oil usage, reducing maintenance costs by 40%. Otis launched the Gen3 platform, which integrates with building management systems and offers real-time analytics. By Q4 2023, over 20,000 Gen3 units were in operation globally.

Companies are also developing compact gearless drives to support older and space-restricted buildings. FUJITEC’s newly patented mini-drive occupies 20% less space compared to traditional gearless motors. Integration with voice recognition, facial identification, and smartphone access is also becoming common, with over 60% of new installations featuring some form of smart interface in 2024.

Five Recent Developments

Kone launched the Monospace 500 DX in 2023 with AI and eco-drive systems, reaching over 12,500 installations
Otis rolled out the Gen3 elevator platform in 2023, achieving over 20,000 units sold across Asia and Europe.
ThyssenKrupp opened a new R&D tower in Rottweil, Germany in 2023, focusing on vertical mobility solutions exceeding 12 m/s.
Schindler partnered with Microsoft to develop predictive maintenance tools for elevators, reducing service downtime by 27%.
Hitachi installed Asia’s fastest gearless elevator (12.5 m/s) in Guangzhou CTF Finance Centre in early 2024.

Report Coverage of Gearless Traction Elevators Market

This comprehensive report on the gearless traction elevators market provides detailed insights into the evolution, structure, and projected dynamics of the industry from 2023 through 2024. The report includes quantitative assessments based on installation volumes, regional penetration, product development, and adoption patterns across the globe. It analyzes both supply-side and demand-side metrics, using over 120 datasets from verified industry sources.

The report encompasses segmentation by type, application, and geography, detailing how medium-speed and high-speed systems cater to different construction sectors. It delves into macro trends influencing the market such as urbanization rates, energy regulations, and green building mandates, supported by numerical insights. Furthermore, it evaluates the strategies of key players, detailing their product innovations, capacity expansion plans, partnerships, and market entries.

In terms of geographical coverage, the report outlines the performance of the market across North America, Europe, Asia-Pacific, and Middle East & Africa, including over 70 key metropolitan hubs. It also provides in-depth investment analysis, with tracking of more than 40 funding announcements and 25 strategic joint ventures in the past 12 months. The inclusion of five major developments further enriches the understanding of current industry momentum and future direction.