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  Traction Elevators Market  Set to Reach USD 69.57 Billion by 2030, Growing at a 6.9% CAGR Summary The global traction elevators market, valued at USD 43.61 billion in 2023, is projected to expand at a compound annual growth rate (CAGR) of 6.9% and reach USD 69.57 billion by 2030. The market is driven by technological advancements, increased urbanization, and rising demand for energy-efficient elevators. A detailed analysis covering market segmentation, competitive landscape, and key growth drivers is provided in this report. Request Your Complimentary Sample Here. Get started today!  https://www.maximizemarketresearch.com/request-sample/188908/   Traction Elevators Market Overview A) Market Size In 2023, the global traction elevators market stood at USD 43.61 billion and is forecasted to grow to USD 69.57 billion by 2030 at a CAGR of 6.9%. The expansion of high-rise buildings and the growing need for efficient and fast-moving elevators in commercial, industrial, and residential secto

  In 2023, the   global traction elevators market   was valued at approximately USD 43.61 billion. Forecasts indicate robust growth in the sector, with the market expected to expand at a compound annual growth rate (CAGR) of 6.9% through to 2030. By the end of this period, the market is projected to reach USD 69.57 billion. This growth is driven by increasing urbanization, advancements in elevator technology, and rising demand for energy-efficient and high-performance elevators in residential, commercial, and industrial sectors. Traction Elevators Market Overview: The traction elevators market is witnessing significant expansion due to the accelerating pace of urban development and infrastructure projects worldwide. These elevators, known for their efficiency and reliability, are increasingly being adopted in high-rise buildings and commercial spaces. The market is driven by technological advancements such as the integration of smart controls and energy-saving features, which enhance p