Hydraulic elevators are elevators which are powered by a piston that travels inside a cylinder. An electric motor pumps hydraulic oil into the cylinder to move the piston. The piston smoothly lifts the elevator cab. Electrical valves control the release of the oil for a gentle descent.
The leading players are Otis, Schindler, ThyssenKrupp, Mitsubishi Electric and Hyundai, accounting for about 67.58% revenue market share in 2019.

Market Analysis and Insights: Global Hydraulic Elevator Market
In 2020, the global Hydraulic Elevator market size was US$ 612.9 million and it is expected to reach US$ 559.6 million by the end of 2027, with a CAGR of -1.3% between 2021 and 2027
Global Hydraulic Elevator Scope and Market Size
The global Hydraulic Elevator market is segmented by region (country), company, by Type, and by Application. Players, stakeholders, and other participants in the global Hydraulic Elevator market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on sales, revenue and forecast by region (country), by Type, and by Application for the period 2016-2027.

Segment by Type
Hydraulic Passenger Elevator
Hydraulic Freight Elevator
Hydraulic passenger elevator held the largest market share with 75.28% in terms of volume in 2019.

Segment by Application
Residential
Commercial
Industrial
Residential was the most widely used area which took up about 62.04% of the global total in 2019.

By Company
Otis
Schindler
ThyssenKrupp
Mitsubishi Electric
Fujitec
Hyundai
DNDT
Koood Elevator
IGV
Yungtay Engineering
Sicher Elevator
DAZO Elevator
Joylive Elevator

By Region
North America
United States
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Taiwan
Indonesia
Thailand
Malaysia
Latin America
Mexico
Brazil
Colombia
Argentina
Middle East & Africa
Turkey
Saudi Arabia
UAE