Industry: Construction & Manufacturing | Publish Date: 26-Sep-2025 | No of Pages: 157 | No. of Tables: 186 | No. of Figures: 131 | Format: PDF | Report Code : CM1624
Canada Elevator Market size was valued at USD 2.54 billion in 2023, and is predicted to reach USD 4.97 billion by 2030, at a CAGR of 9.0 % from 2024 to 2030. The elevator market represents a dynamic sector encompassing the design, manufacturing, installation, and maintenance of elevator systems. From conventional traction elevators to cutting-edge smart solutions, this market offers a diverse array of vertical transportation choices customized to suit the distinct requirements of various buildings and infrastructure projects. Stakeholders within the elevator market include manufacturers, suppliers, contractors, architects, building owners, and facility managers.
Manufacturers continuously innovate to enhance elevator performance, safety, and sustainability, while suppliers provide critical components and materials necessary for system construction. Additionally, sustainability considerations, including energy efficiency and material recyclability, are increasingly integral to elevator design and operation. They align with broader environmental objectives and sustainable building practices. Thus, the elevator market is a cornerstone of vertical mobility as elevators enhance functionality, accessibility, and sustainability within buildings and urban landscapes worldwide.
The shift toward urban living across Canadian cities is driving increased demand for elevator systems. As urban infrastructure becomes denser and vertical construction expands, elevators are becoming essential for mobility within residential, commercial, and institutional buildings. The trend toward high-rise development across Canada is directly supporting long-term elevator market expansion.
Companies operating in the Canadian elevator market are embracing advanced technologies to meet evolving user expectations. Through the development of intelligent service platforms and smart maintenance systems, these firms are improving efficiency, minimizing downtime, and enhancing customer satisfaction. Such innovations are strengthening competitive positioning and supporting market growth in Canada.
The high costs associated with elevator installation, retrofitting, and ongoing maintenance pose challenges for broader market adoption in Canada. These expenses can limit feasibility in older buildings and lower-budget projects. The financial burden of complying with safety regulations and ensuring system reliability continues to be a barrier in certain segments of the Canadian market.
The integration of AI technologies into elevator systems is opening new possibilities in the Canadian market. Predictive maintenance, data-driven performance monitoring, and smart operational controls are transforming elevator management. These AI-driven solutions offer enhanced efficiency, reduced downtime, and improved safety—positioning the market for intelligent and future-ready growth.
The Canada elevator market comprises various market players, such as Otis Elevator Company, TK Elevator, KONE Canada, Schindler Canada, Mitsubishi Electric Canada, Fujitec, Delta Elevator CLtd, AVT Beckett, Savaria Corporation, Garaventa Lift Canada, Federal Elevator Systems Inc, Atlantic Lifts Ltd, Bramalea Elevator Ltd, Ram Manufacturing Ltd, Hyundai Elevator Co., Ltd, and others.
Passenger elevator
Freight elevator
Others
Traction
Machine Room [MR] Traction
Machine Roomless [MRL] Traction
Hydraulic
New Installation
Maintenance
Modernization
Less than 1500 kg
1500 to 2500 kg
2501 to 4000 kg
More than 4000 kg
Less than 1 M/S
Between 1 to 4 M/S
More than 5 M/S
Single Deck
Double Deck
Smart
Conventional
Automatic
Manual
Residential
Low Rise: 10 Floors
Mid Rise: 11-30 Floors
High Rise: Above 30 Floors
Villa/home
Commercial
Airport
Hotel And Hospitality
Leisure And Education
Marine And Port Facilities
Medical And Healthcare
Multiuse Buildings (Mixed-Use)
Retail And Shopping Centers
Public Transportation Hubs
Office Buildings
Low Rise: 10 floors
Mid Rise: 11-30 floors
High Rise: above 30 floors
Industrial
Otis Elevator Company
TK Elevator
KONE Canada
Schindler Canada
Mitsubishi Electric Canada
Fujitec
Delta Elevator CLtd
AVT Beckett
Savaria Corporation
Garaventa Lift Canada
Federal Elevator Systems Inc.
Atlantic Lifts Ltd.
Bramalea Elevator Ltd
Ram Manufacturing Ltd.
Hyundai Elevator Co., Ltd.
Report Scope and Segmentation
|
Parameters |
Details |
|
Market Size in 2023 |
USD 2.54 Billion |
|
Revenue Forecast in 2030 |
USD 4.97 Billion |
|
Growth Rate |
CAGR of 9% from 2024 to 2030 |
|
Analysis Period |
2023–2030 |
|
Base Year Considered |
2023 |
|
Forecast Period |
2024–2030 |
|
Market Size Estimation |
Billion (USD) |
|
Growth Factors |
|
|
Companies Profiled |
15 |
|
Market Share |
Available for 10 companies |
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Customization Scope |
Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope. |
|
Pricing and Purchase Options |
Avail customized purchase options to meet your exact research needs. |