Traction Elevators Market Key Trends, Growth Drivers, and Industry Outlook to 2030
The global traction elevators market is projected to grow steadily, reaching USD 65.09 billion by 2029, fueled by the increasing urbanization and the need for efficient and safe vertical transportation systems. Traction elevators, which use a rolling wire rope pulled by a motor to move the elevator car, are widely preferred for their smoother operation, energy efficiency, and lower noise levels compared to other elevator types. A recent market research report provides insights into the key trends, drivers, and challenges shaping the industry.
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