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The global elevator market? In excellent health

The worldwide figures that tell of a growth trend in the sale and production of lifts are really encouraging.

Let’s analyze the numbers: first of all, the first general indications are supported by a recent estimate by Market Watch, according to which the global market of the sector has reached 125 billion dollars in turnover by the end of 2022, then reaching 195 billion in revenues by the next 5 years (+56%), with an annual growth rate of 7.6%.

Clearly the market that has always been the driving force in this sector is the USA; specifically, in fact, the US recorded over 26 billion in investments during 2022. According to what is indicated by Businesswire, however, China will have an average annual increase of +5.45% within the next six years.

Europe can smile too: according to an article in Research & Markets, Germany is currently the leader in production and sales, as it holds the majority share of 18%. It should be noted that Germany itself, Russia and the United Kingdom are among the top 10 locations in terms of investments worldwide. Furthermore, according to Research & Markets, Poland, Bulgaria and Hungary are the three countries in Europe that will invest the most in lifts with the aim of updating local infrastructures.

A look at our country could not be missing, which expresses a growing trend (Assoascensori data): in 2021 alone, Italy had almost 2 billion euros in the domestic market and almost 2.5 billion in total turnover. Furthermore, Italy is the second country in the world for the number of lifts compared to the population with almost one million lifts that make almost 100 million trips every day.