Traction Elevators Market Expected to Hit USD 65.09 Billion by 2029, Key Players: thyssenkrupp and Fujitec
Traction Elevators Market Ascends to $65.09 Billion by 2029: Driven by Urbanization and High-Rise Construction The global traction elevator market is on an upward trajectory, projected to reach a value of USD 65.09 billion by 2029 according to Maximize Market Research. This signifies a steady growth of 6.9% CAGR from 2022, fueled by rapid urbanization and the increasing construction of high-rise buildings. Request for free sample: Traction Elevators: A Vital Cog in Urban Mobility This comprehensive report by Maximize Market Research delves into the traction elevator market, exploring the key factors propelling its growth: Urbanization Boom: The growing concentration of people in cities necessitates efficient vertical transportation solutions, making traction elevators a crucial infrastructure component. High-Rise Construction Surge: The rise of skyscrapers and multi-story buildings is driving demand for high-speed and reliable traction elevators. Technological Advancements: Innov