As cities all over the world are competing to have the tallest skyscrapers, elevator manufacturers have been tasked with building highly advanced and safe products. Elevators have come a long way since their inception; from smart to green, significant advancements have been made in the recent times. In order to support or encourage the construction of buildings designated as ‘supertall’ (over 300 meters) and ‘megatall’ (exceeding 600 meters), a number of elevator companies have pursued promising improvements, such as accelerating the speed and enabling several elevator cabs to operate in one elevator shafts.

Most developed nations have a range of high rise buildings, making efficient utilization of spaces an imperative.Currently, there are 121 supertall and 3 megatall buildings, while four more megatall building are under construction and over 130 supertall buildings are likely to completed in the next five years. Such developments have surged the demand for innovative elevator technologies that allow to build taller high rise buildings while remaining efficient enough to earn high traction. The global market for elevators is likely to expand at a significant rate of nearly 9.8% in the coming years, influenced by growing focus on infrastructure development in developing economies.Shanghai Tower – Fastest Elevator

The Shanghai Tower in China has the fastest elevator in the world, designed and manufactured by ‘Mitsubishi Electric’. A fast elevator was always going to be a necessity for the megatall building, standing at 632 meters tall. Currently, the elevator runs at an incredible speed of nearly 20.5 meters per second.

In a close race, Hitachi designed its fastest elevator in CTF Tower in Guangzhou which travels at 20 meters per second; it zooms from zeroth floor to 95 in just 45 seconds. Indeed, many companies have adopted advanced technologies to support faster elevators speeds to access the uppermost floor of high rise buildings.

Jeddah Tower – Ultrarope Elevator

After successful installation of its first ultrarope elevator in Singapore’s Marina Bay Sands in 2013, Finnish maker ‘Kone’ has risen to the challenge of building a high-speed elevator in what promises to be one of the tallest buildings in the world. The Jeddah Tower in Saudi Arabia, reaching 1000 meters into the sky and be the world’s tallest building when completed, will feature ‘Kone Ultrarope’ which uses a carbon-fiber cable that reduces the cable weight and friction to increase the available travel distance. According to Kone, the ultrarope elevator will run at around 33 feet per second, reaching the highest floor in the world in 52 seconds.

MULTI Elevator System to Revolutionize Skyscraper Design

Perhaps the most exciting innovation in elevator technology is coming from ‘thyssenkrupp’, a German elevator manufacturer. It has reportedly spent nearly €400 million on its MULTI system, a rope-free elevator system that propel cabins using maglev technology or magnetic levitation – which uses magnetics fields instead of elevator cables.  It also opens up the potential for elevator cabins to move horizontally as well as vertically, allowing far greater architectural freedom.

Want to Know More About the Innovations in Elevators Market?

A new report by FactMR on Global Elevators Market offers deep insights and detailed information on product innovation and development for over a 10-year forecast period. Further, it includes market segments, competitive analysis, leading players and regional market share.