Dublin, March 02, 2026 (GLOBE NEWSWIRE) — The “Elevator Safety System Market Report 2026” has been added to ResearchAndMarkets.com’s offering.
The elevator safety system market is projected to maintain its upward trajectory, expanding from $14.33 billion in 2025 to $15.65 billion in 2026, marking a compound annual growth rate (CAGR) of 9.2%. Key drivers in the current growth phase include rapid urban high-rise construction, stringent safety regulations, and the modernization of aged elevator infrastructure.
Looking ahead, the market is poised for continued robust growth, expected to reach $21.98 billion by 2030 at a CAGR of 8.9%. This acceleration is driven by the development of smart buildings, the adoption of AI-based diagnostics, a rise in residential skyscrapers, and stricter safety standards. Noteworthy trends include the adoption of smart elevator safety systems, IoT-enabled monitoring, and predictive maintenance technologies, alongside an intensified focus on regulatory compliance.
The increasing prevalence of skyscrapers and multi-story buildings is a significant factor fueling market growth. Elevated structures, catering to diverse uses, necessitate reliable vertical transport solutions that prioritize safety. The Council on Tall Buildings and Urban Habitat reported a record 185 structures of 200 meters or taller completed in 2023, a 12.8% increase compared to 2022, reflecting the expanding skyline and consequent demand for safety systems.
Key players in the market are advancing innovative solutions like compact safety elevator drives that enhance energy efficiency and operational reliability. For instance, Delta Electronics Inc. launched the EB3000 series in November 2023, setting new benchmarks in safety standards compliance, system compatibility, and maintenance ease. Equipped with Safe Torque Off (STO) and compliant with EN81-20 and EN81-50 standards, these systems support wireless management for seamless operation.
In strategic movements, Kings III Emergency Communications acquired LiftNet in April 2025, aiming to boost safety and reliability in elevator systems across North America. This acquisition leverages Kings III’s emergency communication expertise alongside LiftNet’s advanced monitoring capabilities.
Dominant market players include Hitachi Ltd., ThyssenKrupp AG, Mitsubishi Electric Corporation, and Otis Worldwide Corporation, among others. North America held the largest market share in 2025, while Asia-Pacific is projected as the fastest-growing region. Coverage includes significant regions and countries such as Southeast Asia, Western Europe, the USA, China, and India.
The elevator safety system market sells key components like emergency brakes, control panels, and overload sensors. Market values represent revenues from sales, grants, or donations in specified geographies, excluding supply chain resales.
Report Scope
Markets Covered:
- Type: Hydraulic, Traction, Pneumatic Elevator Safety Systems
- Component: Brake Systems, Safety Gear, Control Systems, Load Weighing Devices, Emergency Communication Systems
- Technology: Mechanical, Electrical, Smart, IoT-Enabled Safety Systems
- Application: Commercial, Residential, Industrial Facilities, Healthcare, Transportation Hubs
- End User: Facility Managers, Elevator Manufacturers
Subsegments include:
- For Hydraulic and Traction Elevator Safety Systems, subcategories like Buffer Systems, Rope Grippers, and Load Weighing Devices among others are explored.
- For Pneumatic Elevator Safety Systems, delve into Air Pressure Regulation Systems and Vacuum Pump Safety Controls.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 250 |
| Forecast Period | 2026 – 2030 |
| Estimated Market Value (USD) in 2026 | $15.65 Billion |
| Forecasted Market Value (USD) by 2030 | $21.98 Billion |
| Compound Annual Growth Rate | 8.9% |
| Regions Covered | Global |
Companies Featured
- Hitachi Ltd.
- ThyssenKrupp AG
- Mitsubishi Electric Corporation
- Toshiba Corporation
- Otis Worldwide Corporation
- Schindler Holding AG
- KONE Corporation
- Hyundai Elevator Co. Ltd.
- Fujitec Co. Ltd.
- Wittur Holding GmbH
- Savaria Corporation
- Orona S. Coop.
- Kleemann Hellas S.A.
- Stannah Lifts Holdings Ltd.
- The Hilliard Corporation
- Sicher Elevator Co. Ltd.
- Dewhurst Group plc
- DoorKing Inc.
- Escon Elevators Private Limited
- Total Door Systems Inc.
- C.J. Anderson & Company
- Johnson Lifts Private Limited.
For more information about this report visit https://www.researchandmarkets.com/r/vufmwk
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- Elevator Safety System Market
