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Markets

Elevator and escalator market size in 2024

New Building Solutions market in 2024 (%)

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In the New Building Solutions market KONE is a market leader with close to 20%* share

Equipment base in 2024 (%)

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In the Service market KONE continued to be a challenger with close to 10%* market share

Based on KONE’s estimate. Figures have been rounded.

 

*In regions where KONE has presence. Service market share includes both service base and units in first service. Market share has been calculated with a re-assessed market size.

Market characteristics by region

KONE operates in close to 70 countries in North America, Europe, Asia-Pacific, Middle East and Africa (APMEA), and in Greater China. KONE doesn’t have own operations e.g. in Japan or South Korea.

 

 

 EuropeNorth AmericaAPMEAGreater China
Market characteristics
  • A mature market
  • Residential is the largest market segment
  • Aging elevator base provides structural growth opportunities in Modernization
  • A key service market aside Europe
  • Non-residential segments comprise the majority of market volumes
  • Aging installed base provides structural growth opportunities in Modernization
  • A mix of developing and more mature markets
  • India is the second largest New Building Solutions market globally
  • Residential is the largest segment
  • The largest New Building Solutions market globally
  • Strongly growing Modernization and Service opportunity
  • Residential is the largest segment
Competitive landscape
  • Less fragmented than China, more fragmented than Americas
  • Least fragmented region
  • Less fragmented than China, more fragmented than Americas
  • Most fragmented region
KONE's market position in 2024    
New Building Solutions (in units)#2#4#1#2
Service (in units)#3#4#2#2