Rising Construction Of High-rise Buildings Fueling The Growth Of The Market Due To Demand For Efficient Vertical Transportation: Transformative Forces Shaping the Gearless Elevator Traction Motor Market Landscape in 2025

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What Will the Gearless Elevator Traction Motor Industry Market Size Be by 2025?
The market size for gearless elevator traction motors has seen considerable growth lately. It's projected to increase from a value of $5 billion in 2024 to an expanded worth of $5.29 billion in 2025, representing a compound annual growth rate (CAGR) of 5.7%. The substantial growth during the past period is believed to be due to improvements in economic standards, an increase in the construction of rape*rs, urbanization, adoption of green technology, and a rising demand for buildings that respect energy efficiency.

What's the Long-Term Growth Forecast for the Gearless Elevator Traction Motor Market Size Through 2029?
The market size of the gearless elevator traction motor is predicted to experience significant expansion in the next few years, reaching $6.84 billion in 2029, with a compound annual growth rate (CAGR) of 6.6%. The forecasted growth can be associated with the increasing demand for energy-saving solutions, the trend towards high-rise buildings, the necessity for effective vertical transport systems, population growth, and energy conservation capabilities. The major market trends for the forecast period are technological innovation, the advancement of effective elevator systems, infrastructure growth, the incorporation of the Internet of Things (IoT), and the integration of sophisticated control systems.

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What Are the Key Growth Drivers Fueling the Gearless Elevator Traction Motor Market Expansion?
The surge in high-rise constructions is likely to boost the gearless elevator traction motor market in the future. High-rise structures, which typically measure over 35-40 meters (115-131 feet) or span 12-14 floors, are designed for a variety of uses, including residential, commercial, and mixed-use. Factors like rapid urbanization, growing populations, scarcity of land, advancements in building technologies, and the need for efficient land use in highly populated cities have led to an increase in high-rise buildings. Gearless elevator traction motors are beneficial in these structures as they provide effective, seamless, and quick vertical transportation, while also decreasing the need for maintenance and energy use. For example, the UK's New London Architecture (NLA), which advocates for the capital's built environment, reported in March 2024 that development applications or consents including at least one tall tower rose from 31 in 2021 to 58 in 2022. As a result, the growth of high-rise building constructions is expected to fuel the market for gearless elevator traction motors.

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Which Fast-Growing Trends Are Poised to Disrupt the Gearless Elevator Traction Motor Market?
Top organizations in the gearless elevator traction motor industry are emphasizing on innovations such as permanent magnet synchronous (PMS) motors to boost energy efficiency, decrease upkeep expenditures, enhance the smoothness of the ride, and maximize space usage in cutting-edge elevator systems. A PMS motor is an electric engine that employs durable magnets in the rotor to create a stable magnetic field, contributing to high productivity, precise regulation, and minimized energy usage. For example, TK Elevator, a German provider of elevators and related machinery, introduced the enta100 GL in India in September 2022, aiming at the economical, low-rise market segment. This gearless version of the enta100 GD presents reduced upkeep costs, less noise, and a longer lifespan. Powered by a PMS engine for greater energy efficiency, it ensures lower electricity usage and smooth speed changes. Built for high-rise structures (up to 45 m, 16 stops), it has the capacity to hold 8 people (544 kg) and is accessible in machine-room (MR) and machine-room-less (MRL) layouts, optimizing space use in new buildings.

How Is the Gearless Elevator Traction Motor Market Segmented?
The gearless elevator traction motormarket covered in this report is segmented -

1) By Type: Permanent Magnet Motor, AC Motor, DC Motor
2) By Technology: Smart Motors, Conventional Motors, High Efficiency Motors, Regenerative Motors
3) By Capacity: Low, Medium, High
4) By Application: Commercial, Residential, Industrial
5) By End Users: New Installation, Modernization

Subsegments:

1) By Permanent Magnet Motor: Synchronous Permanent Magnet Motors, Axial Flux Permanent Magnet Motors, Radial Flux Permanent Magnet Motors, High-Torque Permanent Magnet Motors
2) By AC Motor: Single-Phase AC Motors, Three-Phase AC Motors, High-Efficiency AC Motors, Low-Noise AC Motors
3) By DC Motor: Brushed DC Motors, Brushless DC Motors, High-Speed DC Motors, Energy-Efficient DC Motors

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Which Companies Are Leading the Charge in Gearless Elevator Traction Motor Market Innovation?
Major companies operating in the gearless elevator traction motor market are Hitachi Ltd., Siemens AG, Thyssenkrupp AG, Mitsubishi Electric Corporation, Toshiba Corporation, Nidec Corporation, Otis Elevator Company, Schindler Holding AG, Kone Corporation, Hyundai Elevator Co. Ltd., Hiwin Technologies Corp., Kleemann Elevators S.A., Ningbo Xinda Elevator Traction Technology Co. Ltd., Fujitec Co. Ltd., Suzhou Torin Drive Equipment Co. Ltd., Cheng Day Machinery Works, Xizi Forvorda Co. Ltd., Fenoja Oy, Shanghai ZanFeng Technology Co. Ltd., Mont Drive Systems Co. Ltd.

Which Regions Are Leading the Global Gearless Elevator Traction Motor Market in Revenue?
Asia-Pacific was the largest region in the gearless elevator traction motor market in 2024. The regions covered in the gearless elevator traction motor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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