Tech_News

  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

  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