An elevator is defined as a type of transportation that carries people or goods vertically. In the skyscrapers or tall buildings, it is not feasible to climb the stairs or shift goods from one floor to the other on foot. So, to save time and energy, elevators were introduced in these type of buildings. The elevators vertically transport people and goods from one floor to the other.

Elevators generally work on high powered electric motors and high tensile strength cable with counter weights attached to it. The article gives information on the top 10 best elevator manufacturing companies in the world in 2018. The companies are:

10. Express lift

Best Elevator Manufacturing Companies

The company was a subsidiary to a larger organisation which goes by the name of General Electric Company. Opened in 1917, the company started making impacts in the market from the 1920s itself.

The company has its base located in Northampton, UK which makes them the oldest elevator company in the United Kingdom. Due to the huge impacts in the market by the company, they were acquired entirely by Otis in 1997. Hence ended the golden years of the subsidiary company from 1917 to 1997. The company is still in operation but under the parent company name of Otis.

9. Sigma

Best Elevator Manufacturing Companies

Before the existence of the name Sigma elevators, they were known as Goldstar elevators from 1968 to 1994. After which the name again got changed to LG elevators which remained till 1999. During this period, the company underwent a series of revolutionary bumps which turned them into one of the world’s best elevator manufacturing company.

As the new millennium started, to continue the legacy of the company, Sigma elevator was founded in 2000. With over 75 locations to operate from, the headquarters to the company remain in Changwon, South Korea. Fearing the capturing of the market by Sigma, Otis acquired them on December 8, 2009. Thus ending the legacy of the series of companies.

8. Hitachi

Best Elevator Manufacturing Companies

A major revenue earning unit to the group of Hitachi industries. Hitachi elevators was founded in 1924 with Tokyo, Japan remaining its headquarters. This division has a notable record of having the world’s tallest elevator testing tower which rises 213 meters above ground level.

Hitachi elevator is still operational worldwide with a large net income of $116 million generated from this division of the parent company alone. The MNC has a workforce of thousands of employees from all over the world.

7. Dover

Best Elevator Manufacturing Companies

The company came into existence in the year 1955. The company had a slow start in the market but over the years, became a major competitor to the world’s best elevator manufacturing company.

Due to the paced growth of the MNC, it got acquired by Thyssen elevators in 1999 hence leading to a ThyssenDover merger hence ending the regime of the company from 1955 to 1999. The company still works under the name “Rotary Lifts” today.

The headquarters of the organisation is located in Memphis, USA, and as of 2014 they had a net income of $775 million with an enormous workforce of over 26000 employees.

6. Fujitec

Best Elevator Manufacturing Companies

The next major Japanese company after Mitsubishi for elevator manufacturing is Fujitec. Founded in the year 1948 in Osaka, Japan, the company was quick to open new branches in Hong Kong, Singapore, South Korea, USA, and finally India.

Fujitec is the parent company whose major revenue earnings come from the elevator manufacturing unit. They house a workforce of more than 8000 people all around the world.

The giant cumulatively has a net revenue income of $1.5 billion dollars and hence remains in the top 10 charts of elevator manufacturing company.

5. ThyssenKrupp

Best Elevator Manufacturing Companies

The German giant is not only in the business of elevators but also in escalators and loving walks. Founded only 18 years ago, on 17th March 1999, the MNC grew at an exponential scale in terms of economy and size.

The company currently earns a revenue of $1.6 billion in Spain itself. It is in Spain itself that most of the elevators are manufactured. With 5500 people at aid to manufacture the above in Spain, the company makes to the top 5 list of elevator manufacturers in the world.

All in all, the company earns a profit of $8.02 billion.

4. Kone

Best Elevator Manufacturing Companies

The 107-year-old company was founded in Helsinki, Finland and has a specialization in Engineering and services. One of the major branch of services provided is the manufacturing of elevators.

The literal meaning of Kone is Machine or a device in Finnish. Clearly, the company gives excellent and sophisticated solutions to any engineering problems.

The company confirms the 4th spot in manufacturing of elevators worldwide and earns a revenue $9.43 billion through them. The company boasts of 52000 employees worldwide which helps the company to retain its top spot.

3. Schindler

The founding of the company dates back to 1874 (about 143 years ago), making them one of the oldest elevator manufacturing companies.

The billion-dollar company was founded in Switzerland but shifted their headquarters to New Jersey, US. The company have a total of 56000 employees which helps in beating the 4th spot company marginally in terms of revenue generated. The MNC earns a total of $9.72 billion in a year, claiming the 3rd spot in the top 5 charts of elevator manufacturer.

The company have their location of work confirmed in more than 1000 places which also makes them one of the largest organisations in terms of size.

2. Mitsubishi Electric

Best Elevator Manufacturing Companies

Mitsubishi Electric, one of the core and highly rated branches of the Mitsubishi Group of companies, is the world record holder for fastest, tallest, and fastest double deck elevators.

The company is relatively modern as to those discussed above was founded 96 years ago, in the year 1921. The headquarters of the MNC is situated in Tokyo, Japan. The world record shows its strong command on the services that the company offers and thus, they claim the 2nd spot in the top 5 manufacturing companies worldwide.

Mitsubishi Electric earns a revenue of $11.37 billion and has employees numbering over 120,000 people around the globe.

1. Otis

Best Elevator Manufacturing Companies

The top spot in manufacturing companies in terms of revenue is claimed by Otis. The MNC might not be a world record holder but has the privilege to service world famous buildings and monuments of this era. Eiffel Tower, Burj Khalifa, CN tower, the original World Trade Center, Empire state building etc. are some of the major clients to the company.

Founded in 1853, the company remains the oldest elevator manufacturing company of all time. They claim the number one spot in terms of revenue by generating an enormous amount of $12 billion. The company houses more than 65000 employees worldwide. The company was acquired by UTC in 1976.

These are the best lift manufacturing firms in the world.

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