Indonesia Elevator Market by Type (Passenger, Elevator, and Others), by Technology (Traction, and Hydraulic), by Services (New Installation, and Others), by Capacity (Less than 1500 KG, and Between 1 to 4 M/S, and More than 5 M/S), by Speed (Less than 1 M/S, and Others), by Deck Type (Single Deck, and Double Deck), by Designation Control (Smart, and Conventional), by Application (Residential, Commercial, and Industrial) – Global Opportunity Analysis and Industry Forecast, 2025–2030
Industry: Construction & Manufacturing | Publish Date: 17-Jul-2025 | No of Pages: 124 | No. of Tables: 186 | No. of Figures: 131 | Format: PDF | Report Code : CM1659
Indonesia Elevator Market Overview
The Indonesia Elevator Market size was valued at USD 990.7 million in 2024 and is predicted to reach USD 1371.8 million by 2030, registering a CAGR of 4.8% from 2025 to 2030. The factors such as increasing urbanization, rising government initiatives along with growth in real estate development accelerates the market growth at global level.
However, regulatory hurdles, driven by intricate rules and stringent compliance requirements, poses a significant challenge to the growth of the market. On the contrary, the incorporation of Internet of Things (IoT) into elevators offers promising future opportunities for market growth by improving efficiency, safety, and user experience.
Moreover, the key players such as KONE Oyj, Mitsubishi Electric Corporation, Otis Worldwide Corporation, and others are taking various initiatives including product launches to maintain their competitive position in the market. These initiatives are fueling the growth of the market by ensuring safety, reliability, and compliance with industry standards. As vertical construction continues to grow in Indonesia, the elevator market remains a vital component of the country's overall building and infrastructure development.
Urbanization in Indonesia Drives Elevator Demand
Indonesia is experiencing a swift urban transformation, with major cities like Jakarta, Surabaya, and Bandung undergoing rapid vertical expansion. The shift from low-rise to high-rise structures is a direct response to growing urban populations, limited land availability, and evolving lifestyle needs. As residential towers, office complexes, shopping malls, and public buildings become more vertically oriented, elevators have become essential to ensure efficient movement of people and goods across multiple floors. The rising preference for high-density urban living—particularly in Greater Jakarta and tier-1 and tier-2 cities—is fueling the need for modern elevator systems that deliver speed, safety, and comfort. Moreover, Indonesia’s smart city initiatives and government-led urban infrastructure programs are further accelerating the integration of elevator solutions into residential and commercial developments. As cities evolve into vertical hubs, elevators are no longer a luxury but a fundamental requirement for accessible and sustainable urban living.
Construction Boom in Indonesia Accelerates Elevator Installation
Indonesia's booming construction sector stands as a critical force behind the expanding demand for elevators. From mega infrastructure projects to residential high-rises and mixed-use developments, construction activities are on an upward trajectory. The government’s commitment to modernizing urban centers, boosting affordable housing, and developing satellite cities is encouraging the development of taller and more complex structures that rely heavily on vertical transport systems. Within this evolving landscape, elevators play a key role in connecting multi-use spaces—integrating retail, residential, and office units in a single building. As developers increasingly prioritize vertical architecture to maximize space efficiency, the elevator market is witnessing a parallel rise in demand for advanced, space-saving, and energy-efficient lift solutions. The growing emphasis on smart buildings and sustainable construction practices further supports the adoption of innovative elevator technologies across Indonesia’s new-build and retrofit projects.
High Costs Associated with Elevator Systems Hinder the Market Growth in Indonesia
The adoption of AI-powered predictive maintenance is unlocking a transformative opportunity within the Indonesia elevator market. As urban development accelerates and high-rise infrastructure becomes more common across major cities like Jakarta, Surabaya, and Bandung, the demand for reliable and uninterrupted elevator service has never been greater. AI-driven maintenance systems use real-time data from elevator sensors to predict potential faults before they occur, enabling service providers to carry out timely interventions. This reduces unexpected breakdowns and enhances operational continuity in residential, commercial, and public buildings.
In Indonesia, where infrastructure reliability is key to supporting growing smart city initiatives, AI-based maintenance enhances elevator performance, improves safety standards, and reduces service disruptions. It also enables more efficient use of manpower and maintenance schedules, addressing local challenges such as limited access to skilled technicians in certain regions. As a result, elevator companies in Indonesia have the opportunity to differentiate themselves by offering high-tech, dependable service solutions that align with the country's modernization efforts and user expectations.
Introduction of AI-powered Predictive Elevator Maintenance Creates Opportunity
Regulatory challenges, defined by complex rules and strict compliance requirements, create significant obstacles for the growth of the elevator market. These regulations often involve lengthy approval processes and adherence to detailed safety standards, which, while essential, result in delays in project execution. Such delays disrupt construction timelines, slowing the installation of elevators in high-rise buildings and infrastructure projects.
Consequently, these challenges limit the elevator market's growth, emphasizing the need for simplified regulatory frameworks to ensure smoother operations and promote market expansion.
By Type, Passenger Elevator Holds the Dominant Share in Indonesia Elevator Market
Passenger elevator holds approximately 45% of Indonesia elevator market share. The passenger elevator represents a critical kind of vertical mobility solution designed to raise convenience, security, and the efficiency of transporting passengers across multiple floors in residential buildings, commercial entities, and the public sector.
These elevators are equipped with advanced features that include energy-saving motors, control of ride motion, and added safety mechanisms so as to remain reliable and comfort-giving to users.
By Application, Industrial Segment Holds the Highest CAGR of 15%
The industrial elevator application segment in the market is experiencing significant growth due to the increasing need for efficient vertical transportation in manufacturing facilities, warehouses, and construction sites.
These elevators are designed to handle heavy loads and facilitate the seamless movement of materials, equipment, and goods across different levels. By improving operational efficiency and reducing manual labor, industrial elevators play a crucial role in supporting industries to meet high production demands and streamline workflows.
Competitive Landscape
The key players operating in Indonesia elevator industry include Schindler, Otis Elevator Company, TK Elevator (TKE), KONE Corporation, Fujitec Co., Ltd., Hyundai Elevator Co., Ltd., Mitsubishi Electric Corporation, Toshiba Elevator and Building Systems Corporation, Hitachi Ltd., IFE Elevators, Sicher Elevator Co., Ltd., Lamda Elevator, Sigma Elevator Company, CANNY Elevator Co., Ltd., Fuji Hengda Elevator Indonesia, and others.
These players are engaged in strategies including product launches to maintain their dominance in Indonesia elevator industry.
|
Date |
Company |
Recent Developments |
|
December 2024 |
Kone Oyj |
Kone Oyj launched Kone High-Rise MiniSpace DX elevator in South East Asia. The elevator is designed for buildings over 60 floors, emphasizing energy efficiency and advanced technology. |
|
May 2024 |
Mitsubishi Electric Corporation |
Mitsubishi Electric Building Solutions Corporation launched the NEXIEZ-Fit elevator, for low-rise residential buildings, to meet the rising housing demand in Indonesia. This model enhances cost performance and construction efficiency while offering advanced safety features through its connection to the BRIDGE remote maintenance service. |
|
October 2023 |
TK Elevator |
TK Elevator launched EOX Renew, a modern elevator system designed to enhance accessibility and sustainability in older buildings. This innovative solution features energy-efficient technology and flexible installation options, making it ideal for retrofitting existing structures while minimizing disruption. |
|
May 2023 |
TK Elevator |
TK Elevator launched its new generation AGILE Destination Control kiosks in the Asia Pacific region, enhancing urban mobility solutions. These kiosks improve passenger experience by reducing waiting and travel times by 25% and increasing capacity by 30%, while offering customizable features for various building types. |
Indonesia Elevator Market Key Segments
By Type
-
Passenger Elevator
-
Freight Elevator
-
Other Elevator
By Technology
-
Traction
-
Machine Room (MR) Traction
-
Machine Roomless (MRL) Traction
-
-
Hydraulic
By Service
-
New Installation
-
Maintenance
-
Modernization
By Capacity
-
Less than 1500 KG
-
1500 to 2500 KG
-
2501 to 4000 KG
-
More than 4000 KG
By Speed
-
Less than 1 M/S
-
Between 1 to 4 M/S
-
More than 5 M/S
By Deck Type
-
Single Deck
-
Double Deck
By Designation Control
-
Smart
-
Conventional
By Door Type
-
Automatic
-
Manual
By Operation
-
Low-Rise
-
Mid-Rise
-
High-Rise
By Application
-
Residential
-
Low Rise: 10 Floors
-
Mid Rise: 11-30 Floors
-
High Rise: Above 30 Floors
-
Villa/home
-
-
Commercial
-
Airport
-
Hotel And Hospitality
-
Leisure And Education
-
Marine And Port Facilities
-
Medical And Healthcare
-
Multiuse Buildings
-
Retail And Shopping Centers
-
Public Transportation Hubs
-
Office Buildings
-
Low Rise: 10 floors
-
Mid Rise: 11-30 floors
-
High Rise: above 30 floors
-
-
-
Industrial
Key Players
-
Schindler
-
Otis Elevator Company
-
TK Elevator (TKE)
-
KONE Corporation
-
Fujitec Co., Ltd.
-
Hyundai Elevator Co., Ltd.
-
Mitsubishi Electric Corporation
-
Toshiba Elevator and Building Systems Corporation
-
Hitachi Ltd.
-
IFE Elevators
-
Sicher Elevator Co., Ltd.
-
Lamda Elevator
-
Sigma Elevator Company
-
CANNY Elevator Co., Ltd.
-
Fuji Hengda Elevator Indonesia
REPORT SCOPE AND SEGMENTATION:
|
Parameters |
Details |
|
Market Size in 2024 |
USD 990.7 Million |
|
Revenue Forecast in 2030 |
USD 1371.8 Million |
|
Growth Rate |
CAGR of 4.8% from 2025 to 2030 |
|
Analysis Period |
2024–2030 |
|
Base Year Considered |
2024 |
|
Forecast Period |
2025–2030 |
|
Market Size Estimation |
Million (USD) |
|
Growth Factors |
|
|
Companies Profiled |
15 |
|
Market Share |
Available for 10 companies |
|
Customization Scope |
Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope. |
|
Pricing and Purchase Options |
Avail customized purchase options to meet your exact research needs. |
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