What Does The Strategic Industry Forecast Indicate For The Gearless Elevator Traction Motor Market Through 2030?

 


How Has The Gearless Elevator Traction Motor Market Performed Historically, And What Growth Trajectory Is Expected Ahead?
 The gearless elevator traction motor market size has grown strongly in recent years. It will grow from $5.29 billion in 2025 to $5.64 billion in 2026 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to urbanization and high-rise building growth, demand for efficient vertical transportation, reduction of maintenance costs, improvement in ride comfort, replacement of geared traction systems.
 
 The gearless elevator traction motor market size is expected to see strong growth in the next few years. It will grow to $7.29 billion in 2030 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to smart building integration, regenerative drive adoption, expansion of green building projects, modernization of installed elevator base, growth of mega infrastructure projects. Major trends in the forecast period include shift toward energy-efficient elevator systems, increasing adoption of permanent magnet motors, demand for low-noise elevator solutions, modernization of aging elevator infrastructure, growth of high-rise construction.
 
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 What Are The Main Market Drivers Shaping The Progression Of The Gearless Elevator Traction Motor Market?
 The rising construction of high-rise buildings is expected to propel the growth of the gearless elevator traction motor market going forward. A high-rise building is a tall structure, typically exceeding 35–40 meters (115–131 feet) or about 12–14 stories, designed for residential, commercial, or mixed-use purposes. High-rise buildings are increasing due to rapid urbanization, population growth, limited land availability, advancements in construction technology, and the demand for efficient land use in densely populated cities. Gearless elevator traction motors are used in high-rise buildings to provide efficient, smooth, and high-speed vertical transportation with reduced maintenance and energy consumption. For instance, in January 2024, according to the Council on Tall Buildings and Urban Habitat (CTBUH), a US-based international non-profit organization that monitors global skyscraper development, a total of 185 buildings measuring 200 meters or more were completed worldwide in 2023, representing a 10.1% increase compared to 2022. Therefore, the rising construction of high-rise buildings will drive the gearless elevator traction motor market.
 
 What Leading Segment Types Are Used To Analyze The Gearless Elevator Traction Motor Market?
 The gearless elevator traction motor market covered in this report is segmented — 
 
 1) By Type: Permanent Magnet Synchronous Motors, Brushless DC Motors
 2) By Motor Design: Radial Flux Permanent Magnet Motors, Axial Flux Permanent Magnet Motors, High-Torque, Low-Speed Direct-Drive Motors
 3) By Efficiency And Energy Technology: High-Efficiency Motors, Regenerative Drive-Compatible Motors, Energy-Optimized Or Low-Loss Motors
 4) By Application: Commercial Buildings, Residential Buildings, Institutional And Public Infrastructure
 5) By End-Use: New Installations, Modernization And Replacement
 
 Subsegments:
 1) By Permanent Magnet Synchronous Motor: Interior Permanent Magnet (IPM) PMSM, Surface-Mounted Permanent Magnet (SPM) PMSM
 2) By Brushless DC Motors: Inrunner BLDC, Outrunner BLDC, Sensored (Hall-effect) BLDC, Sensorless BLDC
 
 What New Trends Are Beginning To Take Shape Within The Gearless Elevator Traction Motor Market?
 Major companies operating in the gearless elevator traction motor market are focusing on incorporating advanced motor technologies such as permanent-magnet synchronous motors (PMSMs), enabling more efficient, compact, and sustainable elevator systems. PMSM technology uses high-strength permanent magnets embedded in the rotor so that the motor rotates synchronously with the alternating current in the stator, enabling direct-drive capability without a gearbox, which reduces energy loss and friction. For instance, in October 2024, Bluelight Group, a China-based elevator-components manufacturer, introduced the WYT-R Rail Mount Version Elevator Gearless Machine, a PMSM-based gearless traction system designed for rail-mounted elevator applications featuring an outer-rotor structure for smoother low-speed running and high overload capacity, a block-type armless brake for fast response and high reliability, and compact design optimized for rail-mount installation. The WYT-R improves energy efficiency, reduces maintenance costs by eliminating gearbox upkeep, and enhances ride comfort and safety owing to smoother, quieter operation and robust braking and overload protection.
 
 Who Are The Core Market Contributors Recognized Within The Gearless Elevator Traction Motor Market Ecosystem?
 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. 
 
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 Which Geographical Areas Are Expected To Witness The Most Substantial Gearless Elevator Traction Motor Market Expansion Ahead?
 Asia-Pacific was the largest region in the gearless elevator traction motor market in 2025. The regions covered in the gearless elevator traction motor market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
 
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