Lift Motor Controller Market Expanding With $12.44 Billion at 7.3% CAGR by 2029

Lift Motor Controller Global Market Report 2025

The Business Research Company's Lift Motor Controller Global Market Report 2025 – Market Size, Trends, And Global Forecast 2025-2034

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What Is The Forecast For The Lift Motor Controller Market From 2024 To 2029?
In recent years, the market size for lift motor controllers has seen robust growth. Market growth is projected to continue, increasing from $8.72 billion in 2024 to $9.39 billion in 2025. This suggests a compound annual growth rate (CAGR) of 7.6%. Various factors have contributed to this growth in the historic period, including escalating urbanization and high-rise construction, modernization of older elevator infrastructure, the emphasis on energy-efficient elevator systems, growth in commercial and residential real estate development, and stricter safety regulations for vertical transportation systems.

The market for lift motor controllers is predicted to witness substantial growth in the coming years, expanding to a market value of $12.44 billion in 2029 with a 7.3% compound annual growth rate. This predicted growth during this forecast period is due to several factors including the increasing embrace of smart building technologies, the heightened integration of Internet of Things (IoT) within lift systems, a surge in demand for energy-effective elevator functions, a rise in urban revamp and retrofit undertakings, and heightened investment in eco-friendly and vertical infrastructure. Noteworthy trends during this forecast period include progress in compact and energy-saving variable frequency drive controllers, the invention of universal serial bus Type-C compatible elevator drive interfaces, innovation in prognostic maintenance and diagnostic attributes, progression in energy-recovering regenerative braking systems, and the evolution of AI-integrated motor control solutions.

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What Are The Core Growth Drivers Shaping The Future Of The Lift Motor Controller Market?
The rise in sustainable construction methods is projected to stimulate the expansion of the lift motor controller market in the future. These green construction methods encompass the design, construction, and operation of structures in a manner that reduces negative environmental impact and resource use, while improving energy effectiveness and inhabitant comfort. The increasing environmental legislations targeted at carbon emission reduction in the building industry fuel the demand for these eco-friendly practices. Lift motor controllers are advantageous for green constructions as they regulate energy use, adjusting motor velocity and power based on load and requirement, which results in decreased overall power consumption and less environmental harm. In December 2024, according to a release by the Green Building Council Australia, an Australian governmental body, the Australian construction industry crossed an important benchmark, surpassing 1,000 constructions, refits and districts, acknowledged with green star certification for sustainability accomplishments in 2024. Plus, the volume of presentations for these certifications has increased twofold from 2023 figures, recording over 120 project proposals and more than 150 inquiries in a span of three months. Hence, the surging demand for sustainable construction methods is propelling the expansion of the lift motor controller market.

Which Companies Are Currently Leading In The Lift Motor Controller Market?
Major players in the Lift Motor Controller Global Market Report 2025 include:
• Siemens AG
• Hitachi Ltd.
• Schneider Electric SE
• Mitsubishi Electric Corp.
• ABB Ltd.
• Toshiba Corporation
• Johnson Controls International Plc
• Nidec Corporation
• Otis Elevator Company
• Schindler Group

What Are The Top Trends In The Lift Motor Controller Industry?
Leading businesses in the lift motor controller market are concentrating their efforts on creating novel solutions such as variable frequency drives (VFDs) to boost operational efficiency, enhance passenger safety, and support proactive maintenance. VFDs, electronic equipment that control elevator motor's speed and torque by altering input frequency and voltage, contribute to a smoother operation, lower energy usage and better ride quality. For instance, Invertek Drives Ltd, a UK-based firm specializing in electric motor control technology, unveiled the Optidrive Elevator Core in December 2023. The newly released VFD is distinguished by its compact design, ease of installation, and the pioneering feature of USB-C connectivity, enabling users to set up and power the drive via a smartphone or tablet without needing grid power. It also has an inbuilt data recorder that can be accessed without an external power source, providing more convenience for engineers working in cramped elevator shaft environments.

Comparative Analysis Of Leading Lift Motor Controller Market Segments
The lift motor controller market covered in this report is segmented –
1) By Product: Alternating Current (AC) Lift Motor Controllers, Direct Current (DC) Lift Motor Controllers, Variable Frequency Drive (VFD) Controllers
2) By Technology: Microcontroller-Based Controllers, Digital Signal Processor (DSP) Controllers, Analog Controllers
3) By Installation: New Installations, Retrofit,
4) By Sales Channel: Distributors, Online Sales, Retail Outlets
5) By End User: Construction Companies, Manufacturing Facilities, Transportation Industry, Logistics And Warehousing

Subsegments:
1) By Alternating Current (AC) Lift Motor Controllers: Single-Phase Ac Controllers, Three-Phase Ac Controllers, Contactor-Based Ac Controllers, Intelligent Ac Motor Controllers
2) By Direct Current (Dc) Lift Motor Controllers: Brushed DC Motor Controllers, Brushless DC (BLDC) Motor Controllers, Pulse Width Modulation (PWM) Controllers, Regenerative DC Motor Controllers
3) By Variable Frequency Drive (VFD) Controllers: Low-Voltage VFD Controllers, Medium-Voltage VFD Controllers, Sensorless Vector Control VFDs, Closed-Loop Vector Control VFDs

View the full lift motor controller market report:
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Which Regions Are Dominating The Lift Motor Controller Market Landscape?
In the Lift Motor Controller Global Market Report 2025, North America led as the biggest market in 2024 with Asia-Pacific predicted to experience the most accelerated growth during the forecast period. The report includes coverage on regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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