Elevator Ropes Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented, By Core Type, By Functionality, By Elevator Type, By Region, By Competition, 2020-2030F
The Global Elevator Ropes Market was valued at USD 600.89 million in 2024 and is projected to reach USD 747.89 million by 2030, growing at a CAGR of 3.56% during the forecast period. This market encompasses the global production and application of specialized steel wire ropes and synthetic alternatives essential to elevator systems across residential, commercial, and industrial infrastructures. These ropes serve as the primary load-bearing mechanism in vertical transportation, ensuring the reliable and safe movement of elevator cars within shafts. Engineered for high tensile strength, fatigue resistance, and flexibility, elevator ropes support efficient operation in both high-rise and high-frequency usage environments. The increasing demand for vertical urban development and modernization of aging infrastructure is contributing to the sustained growth of this market globally.
Market Overview
Forecast Period
2026-2030
Market Size 2024
USD 600.89 Million
Market Size 2030
USD 747.89 Million
CAGR 2025-2030
3.56%
Fastest Growing Segment
Independent Wire Rope Core
Largest Market
North America
Key Market Drivers
Rapid Urbanization and the Proliferation of High-Rise Buildings
The accelerating pace of urbanization, especially in developing economies, is a major factor propelling the demand for elevator ropes. As populations concentrate in metropolitan areas, high-rise construction becomes essential to meet spatial needs, resulting in increased elevator installations. Elevator ropes are critical for the performance and safety of these systems, particularly in tall buildings where durability and reliability are paramount. Urban infrastructure programs, smart city initiatives, and private investments in real estate across countries like China, India, Indonesia, and Vietnam are bolstering demand for advanced elevator components. Furthermore, modernization efforts in older buildings within developed regions are driving retrofits and replacements of existing rope systems. The integration of high-speed elevators in mixed-use and commercial towers further enhances the demand for robust, vibration-resistant ropes tailored for intensive usage.
Key Market Challenges
Escalating Raw Material Costs and Supply Chain Volatility
The elevator ropes industry faces considerable pressure due to rising raw material costs, especially for high-grade steel and synthetic polymers used in rope construction. Price volatility in global steel markets, driven by trade restrictions, geopolitical events, and demand fluctuations, significantly affects manufacturing costs. Compounding this are supply chain disruptions affecting petrochemical-based sheathing materials such as nylon and polyurethane, which have experienced shortages due to refinery outages and logistical delays. These factors challenge manufacturers' ability to maintain pricing consistency and delivery timelines. Cost unpredictability also impacts long-term maintenance planning, as elevator systems typically operate for decades and depend on timely rope replacement cycles. Budgeting difficulties caused by unexpected price increases can disrupt service operations and user confidence.
Key Market Trends
Shift Toward High Strength, Lightweight Materials
A notable trend in the elevator ropes market is the increasing shift from traditional steel ropes to lightweight, high-strength alternatives such as aramid fibers, carbon composites, and other synthetic materials. These alternatives offer superior tensile strength, enhanced flexibility, and reduced energy consumption compared to conventional materials. Aramid-based elevator belts, for example, improve operational efficiency by reducing system weight and enabling smoother, quieter movement. They also contribute to energy savings by lowering the load on motors and reducing system wear. This transition aligns with broader sustainability goals and the need for innovative building technologies focused on performance, comfort, and cost efficiency.
Key Market Players
Brugg Lifting AG
Gustav Wolf GmbH
Usha Martin Limited
Bekaert SA
Pfeifer DRAKO (Pfeifer Holding GmbH)
Tokyo Rope Mfg. Co., Ltd.
Kiswire Ltd.
WireCo WorldGroup Inc.
Santini Funi Srl
Alps Wire Rope Corporation
Report Scope:
In this report, the Global Elevator Ropes Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Elevator Ropes Market, By Core Type:
Fiber Core
Independent Wire Rope Core
Elevator Ropes Market, By Functionality:
Traction/Hoist
Governor
Compensation
Elevator Ropes Market, By Elevator Type:
Machine Room Elevator
Machine Room Less Elevator
Hydraulic Elevator
Elevator Ropes Market, By Region:
North America
United States
Canada
Mexico
Europe
France
United Kingdom
Italy
Germany
Spain
Asia-Pacific
China
India
Japan
Australia
South Korea
South America
Brazil
Argentina
Colombia
Middle East & Africa
South Africa
Saudi Arabia
UAE
Kuwait
Turkey
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Global Elevator Ropes Market.
Available Customizations:
Global Elevator Ropes Market report with the given Market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
Detailed analysis and profiling of additional Market players (up to five).
Table of Contents
1. Product Overview
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.3. Key Market Segmentations
2. Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Formulation of the Scope
2.4. Assumptions and Limitations
2.5. Sources of Research
2.5.1. Secondary Research
2.5.2. Primary Research
2.6. Approach for the Market Study
2.6.1. The Bottom-Up Approach
2.6.2. The Top-Down Approach
2.7. Methodology Followed for Calculation of Market Size & Market Shares
2.8. Forecasting Methodology
2.8.1. Data Triangulation & Validation
3. Executive Summary
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, and Trends
4. Voice of Customer
5. Global Elevator Ropes Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Core Type (Fiber Core, Independent Wire Rope Core)
5.2.2. By Functionality (Traction/Hoist, Governor, Compensation)
5.2.3. By Elevator Type (Machine Room Elevator, Machine Room Less Elevator, Hydraulic Elevator)
5.2.4. By Region
5.3. By Company (2024)
5.4. Market Map
6. North America Elevator Ropes Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Core Type
6.2.2. By Functionality
6.2.3. By Elevator Type
6.2.4. By Country
6.3. North America: Country Analysis
6.3.1. United States Elevator Ropes Market Outlook
6.3.1.1. Market Size & Forecast
6.3.1.1.1. By Value
6.3.1.2. Market Share & Forecast
6.3.1.2.1. By Core Type
6.3.1.2.2. By Functionality
6.3.1.2.3. By Elevator Type
6.3.2. Canada Elevator Ropes Market Outlook
6.3.2.1. Market Size & Forecast
6.3.2.1.1. By Value
6.3.2.2. Market Share & Forecast
6.3.2.2.1. By Core Type
6.3.2.2.2. By Functionality
6.3.2.2.3. By Elevator Type
6.3.3. Mexico Elevator Ropes Market Outlook
6.3.3.1. Market Size & Forecast
6.3.3.1.1. By Value
6.3.3.2. Market Share & Forecast
6.3.3.2.1. By Core Type
6.3.3.2.2. By Functionality
6.3.3.2.3. By Elevator Type
7. Europe Elevator Ropes Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Core Type
7.2.2. By Functionality
7.2.3. By Elevator Type
7.2.4. By Country
7.3. Europe: Country Analysis
7.3.1. Germany Elevator Ropes Market Outlook
7.3.1.1. Market Size & Forecast
7.3.1.1.1. By Value
7.3.1.2. Market Share & Forecast
7.3.1.2.1. By Core Type
7.3.1.2.2. By Functionality
7.3.1.2.3. By Elevator Type
7.3.2. United Kingdom Elevator Ropes Market Outlook
7.3.2.1. Market Size & Forecast
7.3.2.1.1. By Value
7.3.2.2. Market Share & Forecast
7.3.2.2.1. By Core Type
7.3.2.2.2. By Functionality
7.3.2.2.3. By Elevator Type
7.3.3. Italy Elevator Ropes Market Outlook
7.3.3.1. Market Size & Forecast
7.3.3.1.1. By Value
7.3.3.2. Market Share & Forecast
7.3.3.2.1. By Core Type
7.3.3.2.2. By Functionality
7.3.3.2.3. By Elevator Type
7.3.4. France Elevator Ropes Market Outlook
7.3.4.1. Market Size & Forecast
7.3.4.1.1. By Value
7.3.4.2. Market Share & Forecast
7.3.4.2.1. By Core Type
7.3.4.2.2. By Functionality
7.3.4.2.3. By Elevator Type
7.3.5. Spain Elevator Ropes Market Outlook
7.3.5.1. Market Size & Forecast
7.3.5.1.1. By Value
7.3.5.2. Market Share & Forecast
7.3.5.2.1. By Core Type
7.3.5.2.2. By Functionality
7.3.5.2.3. By Elevator Type
8. Asia-Pacific Elevator Ropes Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Core Type
8.2.2. By Functionality
8.2.3. By Elevator Type
8.2.4. By Country
8.3. Asia-Pacific: Country Analysis
8.3.1. China Elevator Ropes Market Outlook
8.3.1.1. Market Size & Forecast
8.3.1.1.1. By Value
8.3.1.2. Market Share & Forecast
8.3.1.2.1. By Core Type
8.3.1.2.2. By Functionality
8.3.1.2.3. By Elevator Type
8.3.2. India Elevator Ropes Market Outlook
8.3.2.1. Market Size & Forecast
8.3.2.1.1. By Value
8.3.2.2. Market Share & Forecast
8.3.2.2.1. By Core Type
8.3.2.2.2. By Functionality
8.3.2.2.3. By Elevator Type
8.3.3. Japan Elevator Ropes Market Outlook
8.3.3.1. Market Size & Forecast
8.3.3.1.1. By Value
8.3.3.2. Market Share & Forecast
8.3.3.2.1. By Core Type
8.3.3.2.2. By Functionality
8.3.3.2.3. By Elevator Type
8.3.4. South Korea Elevator Ropes Market Outlook
8.3.4.1. Market Size & Forecast
8.3.4.1.1. By Value
8.3.4.2. Market Share & Forecast
8.3.4.2.1. By Core Type
8.3.4.2.2. By Functionality
8.3.4.2.3. By Elevator Type
8.3.5. Australia Elevator Ropes Market Outlook
8.3.5.1. Market Size & Forecast
8.3.5.1.1. By Value
8.3.5.2. Market Share & Forecast
8.3.5.2.1. By Core Type
8.3.5.2.2. By Functionality
8.3.5.2.3. By Elevator Type
9. South America Elevator Ropes Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value
9.2. Market Share & Forecast
9.2.1. By Core Type
9.2.2. By Functionality
9.2.3. By Elevator Type
9.2.4. By Country
9.3. South America: Country Analysis
9.3.1. Brazil Elevator Ropes Market Outlook
9.3.1.1. Market Size & Forecast
9.3.1.1.1. By Value
9.3.1.2. Market Share & Forecast
9.3.1.2.1. By Core Type
9.3.1.2.2. By Functionality
9.3.1.2.3. By Elevator Type
9.3.2. Argentina Elevator Ropes Market Outlook
9.3.2.1. Market Size & Forecast
9.3.2.1.1. By Value
9.3.2.2. Market Share & Forecast
9.3.2.2.1. By Core Type
9.3.2.2.2. By Functionality
9.3.2.2.3. By Elevator Type
9.3.3. Colombia Elevator Ropes Market Outlook
9.3.3.1. Market Size & Forecast
9.3.3.1.1. By Value
9.3.3.2. Market Share & Forecast
9.3.3.2.1. By Core Type
9.3.3.2.2. By Functionality
9.3.3.2.3. By Elevator Type
10. Middle East and Africa Elevator Ropes Market Outlook
10.1. Market Size & Forecast
10.1.1. By Value
10.2. Market Share & Forecast
10.2.1. By Core Type
10.2.2. By Functionality
10.2.3. By Elevator Type
10.2.4. By Country
10.3. Middle East and Africa: Country Analysis
10.3.1. South Africa Elevator Ropes Market Outlook
10.3.1.1. Market Size & Forecast
10.3.1.1.1. By Value
10.3.1.2. Market Share & Forecast
10.3.1.2.1. By Core Type
10.3.1.2.2. By Functionality
10.3.1.2.3. By Elevator Type
10.3.2. Saudi Arabia Elevator Ropes Market Outlook