Ropeless Elevator Market Report

The major driving factor for the ropeless elevator market is the flexible movement of the elevator horizontally and vertically. With their Magnetic Levitation technology, ropeless elevators allow the full movement vertically and horizontally for travel between floors. For this capability of travel through multiple directions, travel will be saved because an elevator can cut across to areas that formerly had limitations where elevators only could have moved straight up or downwards. Thus, in multi-storey buildings, optimum routing by the elevator should be ensured, making passengers wait lesser time. This is pretty useful in skyscrapers and complex buildings, wherein the passengers have to be shifted between floors that are not immediately above or below each other, thereby improving the general efficiency and service.

The major growth driver in the ropeless elevator market is high-rise buildings and skyscrapers. As buildings go up, the traditional cable-based elevators face problems related to speed, space, and efficiency. Ropeless elevators can provide solutions for these issues with magnetic levitation technology and other advanced technologies that facilitate smoother, faster, and more energy-efficient rides. These innovations not only advance vertical transportation in skyscrapers but also ensure a reduction in maintenance cost, and space usage will be optimal, thus the interesting option for modern designs. Also, as per the date of World Economic Forum China have a total of 52% of the skyscraper, where UAE have 17% and US have 9% of skyscraper. With the rising rate of urbanization along with building heights and skyscraper, there should be an accelerated demand of ropeless elevator systems.

The key challenge restraining the growth of the ropeless elevator market is high power consumption and energy requirements. Ropeless elevators, particularly those functioning on electromagnetic systems in levitating and propelling consume more energy than traditional elevators. Even though these systems come with greater efficiency for speed and space utilization, reliance on powerful magnetic fields and precise control mechanisms significantly increases operational energy consumption. These lifts do require a particular, solid power supply to maintain their reliable performance. Consequently, they may not be feasible in all buildings or at all locations. It may even demand expensive upgrade opportunities of a building's electrical infrastructure, increasing installation and ongoing operational costs. The system might also impact the general sustainability of the building as a whole or energy-conscious premises, with its need to constantly allow high levels of power input.

The ropeless elevators based on magnetic levitation produce Electromagnetic field (EMFs) as part of the levitation and propulsion mechanisms which is another major challenge for the market which creates environmental concerns. Advanced materials, including such superconducting magnets as well as specific motor parts created, would have the highest environmental impact in manufacturing. The mining of rare earth elements and other materials required to create these advanced materials raise serious questions about sustainability in habitat destruction, pollution, and higher energy extraction. All this points to stating the case for a balance consideration in the long-term environmental cost consideration of ropeless elevators.

Rope-less Elevator does not require traditional cables and pulleys, which means that more flexible building designs, including multi-directional transport between floors, are possible. It can increase the efficiency of vertical transportation, reduce the amount of space that machinery takes up, and improve the energy efficiency of skyscrapers and modern complexes. After analysing these advantages in August 2024, German company thyssenkrupp unveiled MULTI, a rope-less and sideways-moving elevator system of multiple cabins operating in a loop, like an indoor metro system. Without the use of cables, MULTI ran on a safe multi-level brake system and redundant wireless data and energy management on the cars. The much-anticipated concept became a reality as thyssenkrupp launched the first fully functional unit at its purpose-built innovation test tower in Rottweil, Germany. As cities continued to grow and buildings got larger and taller to accommodate more people, planners and architects faced significant challenges around moving people comfortably and quickly to their destinations. MULTI could achieve up to 50% higher transport capacity and reduce peak power demand by as much as 60% when compared to conventional elevator systems, these two factors meant a dramatic improvement for high-rise buildings.

In July 2021, TK Elevator took part Expo 2020 Dubai starting on October 1st, 2021. The innovative and pioneering ropeless elevator system MULTI was selected as one of the lighthouse projects to be presented at the German Pavilion ‘CAMPUS GERMANY’ by the Pavilion Consortium. From October 2021 to March 31, 2022, the Expo 2020 enabled more than 190 countries to present their most innovative solutions in one place. MULTI changed the way people could move around inside buildings and offered exciting new prospects for planners, architects, and operators. The solution for high-rise buildings required fewer and smaller shafts and hence increased the proportion of usable space significantly. Since current elevator systems usually occupied up to 40% of the building’s floor space, MULTI was a true gamechanger.

The demand for ropeless elevator is expected to rise in Middle east region especially in United Arab Emirates due to the rising number of luxurious building and rising tourism. The UAE is building luxury hotels to diversify its economy, attract high-end tourists, and position itself as a global hospitality and tourism hub. Additionally, luxury tourism is a key driver of innovation and infrastructure development in the region. As per the data of United Arab Emirates Ministry of Economics in 2022 the tourism sector in UAE contributed a total of US$ 45 billion which as equivalent to 9% of the total GDP of UAE. Also, as per data total international tourists spending amounted to US$ 31 Billion and a total of 1189 new hotels were build reaching new hotel capacity amounting 203,000 hotel rooms.

The Europe is also expected to boost the overall market of ropeless elevator market due to the rising residential construction. Rise in the demand for housing due to increased population and urbanization along with low interest rates contributes to the growth in the rise of residential construction in Europe. Furthermore, home ownership and green construction by the government also stimulate growth in residential construction in Europe after the economic recovery following the pandemic. Also, as per the data of IFO Institute the civil engineering in Europe is forecasted to grow by 7.5% by 2026. Also a total of 1.5 million housing units will be finished which is expected to boost the overall ropeless elevator market in Europe.