Top 10 Elevator Companies in the World

1. Otis Elevator Company (Otis Worldwide)

Otis didn’t just build elevators, it made them safe enough to trust with your life, which is arguably the reason skyscrapers exist at all. Back in 1853, Elisha Otis the founder introduced the first elevator safety brake, a single invention that changed the trajectory of urban architecture forever. More than 170 years later, Otis still holds the largest service portfolio in the industry with installations running inside landmarks like the Eiffel Tower, the Empire State Building, and the Burj Khalifa. Competitors have come and gone, but Otis remains the first name most people associate with vertical transportation.

 Founder: Elisha Otis Founded: September 20, 1853 Employees: Approx. 70,000+ globally Products: Elevators, escalators, moving walkways, modernization and maintenance services, Otis ONE IoT platform Headquarters: Farmington, Connecticut, USA

2. KONE Corporation

KONE has spent more than a century quietly building a reputation as one of the most forward-thinking technology providers in the elevator space, rooted in Finnish engineering discipline. The company is particularly known for energy-efficient lifts and machine-room-less designs that genuinely changed how architects think about building layouts. In April 2026, KONE made global headlines with its planned acquisition of TK Elevator, a deal valued at roughly around €29.4 billion. If regulators sign off, a process expected to run through mid-2027 — the combined company would become the world’s largest manufacturer of elevators and escalators.

Founded: 1910 Controlling Family: Herlin family (since 1924) Employees: 60,000+ Products: Elevators, escalators, autowalks, automatic doors Headquarters: Espoo/Helsinki, Finland

3. Schindler Group

Few companies have proven that precision engineering pays off quite like Schindler. Founded in 1874 by Robert Schindler, the company now supplies elevators and escalators to more than 140 countries and has built much of its modern identity around sustainability — its products are widely recognized for low energy consumption and a smaller carbon footprint. Schindler hasn’t stayed quiet during the industry’s current wave of consolidation either; reports suggest the company plans to actively oppose the proposed KONE-TK Elevator merger.

 Founder: Robert Schindler; Eduard Villiger Founded: 1874 Employees: 69,000+ Products: Elevators, escalators, moving walkways, modernization and maintenance Headquarters: Ebikon, Switzerland

4. TK Elevator (TKE)

TK Elevator became an independent company in 2020 after splitting from the German industrial giant Thyssenkrupp, in a deal backed by private equity firms Advent and Cinven. Since then, TKE has grown into one of the more significant names in urban mobility — a fact underlined by KONE’s 2026 acquisition offer, which values the company at around €29.4 billion. Until that deal actually closes, TK Elevator continues to operate as its own independent entity.

 Founded: As an independent entity, 2020 (elevator business traces back over a century under Thyssenkrupp) Employees: 50,000+ Products: Elevators, escalators, moving walkways, passenger boarding bridges, home elevators Headquarters: Düsseldorf, Germany

5. Mitsubishi Elevator (Mitsubishi Electric)

Mitsubishi Electric has been building elevators since the 1930s, but it’s really the last decade that cemented its reputation for bold, ambitious engineering. The elevators it installed in the Shanghai Tower once held the Guinness World Record for the fastest elevators on the planet, hitting speeds beyond 20 meters per second. That obsession with speed has become something of a signature for Mitsubishi — a company that blends deep-rooted Japanese engineering tradition with genuinely innovative technology.

 Founded: Elevator business began in 1931; formal division established 1954 Employees: Part of Mitsubishi Electric Corporation’s global workforce (100,000+) Products: Elevators, escalators, high-speed elevators for supertall buildings, home lifts Headquarters: Tokyo, Japan

6. Hitachi Elevator

Hitachi doesn’t get talked about outside the industry nearly as much as it should, considering it currently holds the record for the world’s fastest elevator — a blistering 21 meters per second inside the CTF Finance Centre in Guangzhou, a title it took from Mitsubishi back in 2019. Beyond the speed records, Hitachi’s elevator division has become a cornerstone of its business across China and Southeast Asia, largely thanks to a reputation built on consistency and reliability.

 Founded: Elevator manufacturing began in the early 20th century, under Hitachi Ltd. Employees: Part of Hitachi’s global industrial workforce Products: Elevators, escalators, moving walkways, building management systems Headquarters: Tokyo, Japan

7. Fujitec Co., Ltd.

Fujitec may not carry the same scale as the giants above it, but it’s held onto its independence for more than 75 years, which is no small feat in this industry. Founded in 1948 by Shotaro Uchiyama, Fujitec was the first company to develop a plasma-cluster ion air purification system specifically for elevators, and it currently runs 11 manufacturing plants spread across Japan, China, the United States, and India. In 2025, private equity firm EQT launched a tender offer to acquire a controlling stake in the company.

 Founder: Shotaro Uchiyama Founded: February 9, 1948 Employees: Approx. 11,700+ Products: Elevators, escalators, moving walkways, automated parking systems Headquarters: Hikone, Shiga, Japan

8. Hyundai Elevator Co. Ltd.

Hyundai Elevator built its name in Asia the straightforward way — by offering dependable elevators at prices that don’t break the bank. The company started out in South Korea in 1984 and today operates across more than 50 countries, all while holding onto a reputation for cost-effective service that never really compromises on safety. Its after-sales support network, in particular, is often cited as one of its biggest strengths.

 Founder: Cho Jae-cheon Founded: May 23, 1984 Employees: 4,000+ Products: Elevators, freight and automobile elevators, observation elevators, marine elevators Headquarters: Icheon, South Korea

9. Toshiba Elevator and Building Systems Corporation

Toshiba’s elevator division has steadily earned a reputation for combining reliability with genuine innovation, very much in the Japanese engineering tradition. At one point, Toshiba held the speed record for the fastest operating elevators in the world, installed at Taipei 101, before Mitsubishi and later Hitachi took over that title. Even without the record, Toshiba remains a strong player when it comes to machine-room elevators and moving walkways.

 Founder: Katsuhiko Sato (as an independent corporation) Founded: Modern corporate entity established 2011; elevator manufacturing dates back to the early 20th century Employees: 1,000+ (India operations); larger globally under Toshiba Corporation Products: Elevators, machine-room elevators, escalators, moving walkways, modernization Headquarters: Tokyo, Japan

10. Canny Elevator Co. Ltd.

Canny Elevator proves you don’t need a hundred years of history to break into this list. Founded in Suzhou, China, in 1997, the company has earned a spot among the global top ten elevator manufacturers every year from 2017 through 2024, most recently ranking 9th worldwide. Canny runs four manufacturing plants across Suzhou, Chengdu, and Zhongshan, ships its products to more than 100 countries, and has become a go-to supplier for many of China’s largest real estate developers.

 Founded: 1997 Employees: 4,000+ Products: Elevators, escalators, moving walkways, mechanical parking systems Headquarters: Suzhou, Jiangsu, China