KONE - Investors

KONE - Investors

Elevator and escalator market size in 2022

In 2022, the global new equipment market declined >10% (2021: grew ~7%). The global service market continued to grow.

The figures below are based on KONE estimates. KONE estimates the market size annually in the first quarter of the year.

Markets_2022

*Based on KONE’s estimate. In regions where KONE has presence, maintenance market share includes both maintenance base and units in first service. Market share has been calculated with a re-assessed market size.

Market characteristics by region

KONE operates in over 60 countries in Europe, Middle East and Africa (EMEA), Americas and Asia-Pacific. KONE doesn’t have own operations e.g. in Japan or South Korea.

EMEANorth AmericaAsia-Pacific excl. ChinaChina
Market characteristics
  • A mix of more mature markets and developing regions; Europe the largest market in the area
  • Residential is the largest market segment
  • The aging elevator base in Europe provides structural growth opportunities in modernization
  • A key service market aside Europe
  • Non-residential segments comprise the majority of market volumes
  • The aging installed base provides structural growth opportunities in modernization
  • A mix of developing and more mature markets
  • India is the second largest new equipment market globally
  • Residential is the largest segment
  • The largest new equipment market globally
  • Strongly growing service opportunity, China expected to represent ~50% of global service market by 2025
  • Residential is the largest segment
Competitive landscape
  • Less fragmented than China, more fragmented than the Americas
  • Least fragmented region
  • Less fragmented than China, more fragmented than Americas
  • Most fragmented region
KONE's market position in 2022
New equipment#2#3#1#2
Maintenance#3#4#2#2

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