More Stories 10 articles
Safety Technology
Elevator Safety System Market Reaches $15.65B, AI Diagnostics Named Key Growth Driver
Projected to reach $21.98B by 2030 at 8.9% CAGR. Smart buildings, AI-based diagnostics, and stricter safety standards drive acceleration. AI diagnostics adoption acceleratingKings III's acquisition of LiftNet in 2025 signals consolidation in emergency communications. Delta Electronics' EB3000 series sets new benchmarks in safety standards compliance.
4 min read
Smart Elevators
Smart Elevator Market Projected to Reach $29.4B by 2030 at 10.4% CAGR
Growth driven by touchless systems, predictive maintenance, and building management integration. North America led the market in 2025KONE's acquisition of Orbitz Elevators expands People Flow solutions. Touchless interfaces and predictive maintenance are the primary adoption drivers.
4 min read
OEM & Technology
KONE Acquires Orbitz Elevators to Expand Service Across Australia and New Zealand
The acquisition focuses on expanding People Flow solutions in the ANZ region, adding to KONE's global service portfolio and strengthening its independent contractor presence.
3 min read
Residential
Shaftless Home Elevator Market Projected to Reach $2.31B by 2030
Aging populations, smart home integration, and luxury upgrades drive 8.6% CAGR growth. Nibav, Savaria, and Stiltz lead with compact, IoT-enabled residential platforms.
3 min read
Workforce
Industry Faces 15,000-Technician Shortage by 2030 as Modernization Accelerates
OEMs, unions, and independent contractors compete for a shrinking talent pool. Southeast and Pacific Northwest training centers report the largest enrollment gains nationally.
5 min read
Code & Standards
ASME A17.1-2025 Code Cycle Brings Major Updates to Machine Room-Less and Seismic Requirements
The latest edition addresses MRL provisions, updated seismic requirements for high-risk zones, and new standards for destination dispatch systems.
4 min read
Regulation
State Code Adoption Timelines Create Patchwork of Elevator Safety Standards Across the U.S.
Some states adopt updated ASME codes within a year. Others lag five to ten years behind, fragmenting the regulatory landscape for national contractors.
4 min read
Workforce Development
NEIEP Expands Apprenticeship Training Capacity as Industry Faces Growing Technician Demand
The joint IUEC-NEII training program is expanding to meet rising demand for qualified elevator constructors across the country.
4 min read
M&A Activity
Independent Elevator Contractors Face Accelerating Consolidation as Big Four Expand Service Portfolios
The four major OEMs control roughly 70% of the North American service market. Independent contractors face growing acquisition pressure.
5 min read