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KONE - Investors

Elevator and escalator market size in 2021

In 2021, the global new equipment market grew ~7% (2020: grew slightly). 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_2021

*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.

EMEAAmericasAsia-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 2021
New equipment#2#4#1#1
Maintenance#3#4shared #2#1

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