Taiwan Elevator Modernization Market Size & Outlook, 2025-2033
Taiwan Elevator Modernization Market Insights
- According to Reed Intelligence analysis, the Taiwan Elevator Modernization Market size was USD 253.92 Million in 2024 and is projected to reach USD 413.03 Million by 2033.
- The Taiwan market is projected to grow at a CAGR of 5.52% between 2025 and 2033.
- By segment, Residential emerged as the largest Building Type in terms of market size in 2024.
- Residential is anticipated to remain the most attractive Building Type segment, recording the fastest growth during the forecast period.
Source: RI Analysis Company Publications, Primary Interviews.
Other Key Findings
- In 2024, Taiwan represented 1.15% of the overall global Elevator Modernization Market size.
- United States is projected to lead the global Elevator Modernization Market size by 2033.
- Across Asia Pacific, China is anticipated to hold the dominant position in market size by 2033.
- Singapore is forecasted to expand at the fastest pace in Asia Pacific, attaining USD 229.81 Million by 2033.
Report Summary
| Report Scope | Details |
|---|---|
| Base Year for Study | 2024 |
| Study Period | 2021-2033 |
| Historical Period | 2021-2023 |
| Forecast Period | 2025-2033 |
| Market Size In 2024 | USD 253.92 Million |
| Market Size In 2033 | USD 413.03 Million |
| Largest segment | Residential |
| Units | Revenue in USD Million |
| CAGR | 5.52% (2025-2033) |
| Segmnetation Covered | |
| Building Type |
|
| Elevator Type |
|
| Modernization Scope |
|
| Service Type |
|
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends |
Taiwan Elevator Modernization Market Building Type 2025-2033 (USD Million)
| Building Type | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | 2031 | 2032 | 2033 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Residential | XX.x | XX.x | XX.x | 108.35 | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x |
| Commercial | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x |
| Industrial | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x |
| Institutional | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x |
| Total | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x |
Source: RI Analysis Company Publications, Primary Interviews.
Taiwan Elevator Modernization Market Elevator Type 2025-2033 (USD Million)
| Elevator Type | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | 2031 | 2032 | 2033 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Hydraulic Elevators | XX.x | XX.x | XX.x | 115.38 | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x |
| Traction Elevators | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x |
| Machine-Room-Less (MRL) Elevators | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x |
| Total | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x |
Source: RI Analysis Company Publications, Primary Interviews.
Taiwan Elevator Modernization Market Modernization Scope 2025-2033 (USD Million)
| Modernization Scope | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | 2031 | 2032 | 2033 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Full Modernization | XX.x | XX.x | XX.x | 136.99 | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x |
| Partial Modernization | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x |
| Minor Modernization | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x |
| Total | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x |
Source: RI Analysis Company Publications, Primary Interviews.
Taiwan Elevator Modernization Market Service Type 2025-2033 (USD Million)
| Service Type | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | 2031 | 2032 | 2033 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Preventive Maintenance | XX.x | XX.x | XX.x | 116.78 | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x |
| Reactive Maintenance | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x |
| Predictive Maintenance | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x |
| Total | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x | XX.x |
Source: RI Analysis Company Publications, Primary Interviews.
