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Hydraulic Elevators Market to Reach US$31.7 Bn by 2033, Expands Amid Retrofit Demand, Accessibility Needs, and Urban Construction Growth | Persistence Market Research

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LONDON, July 14, 2026 /PRNewswire/ — The global hydraulic elevators market is likely to be valued at US$21.8 billion in 2026 and is projected to reach US$31.7 billion by 2033, expanding at a CAGR of 5.5% between 2026 and 2033. This growth is being supported by steady demand in low- and mid-rise construction, rising retrofit and modernization activity in aging building stock, and tighter accessibility and safety regulations across major economies. As urban development continues and building owners prioritize barrier-free mobility, hydraulic elevators are gaining traction as a practical solution for both new installations and upgrades.

Key Highlights

The global hydraulic elevators market is projected to grow from US$21.8 billion in 2026 to US$31.7 billion by 2033, registering a CAGR of 5.5%.North America is expected to lead the market with an anticipated 39.7% share, supported by strong retrofit demand and stringent accessibility regulations.Asia Pacific is projected to be the fastest-growing regional market, driven by rapid urbanization and expanding low- and mid-rise construction activity.Hole-less hydraulic elevators dominate the product landscape with an anticipated 41.2% market share, owing to easier installation and retrofit suitability.The 1000–2000 kg capacity segment leads with an estimated 36.8% share, reflecting widespread adoption across residential and small commercial buildings.Leading manufacturers are prioritizing digital monitoring, modernization services, energy-efficient technologies, and lifecycle maintenance solutions to strengthen their competitive position.

𝐆𝐞𝐭 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐍𝐨𝐰: https://www.persistencemarketresearch.com/samples/36627 

Aging Population and Accessibility-Driven Demand

One of the most important forces shaping the hydraulic elevators market is the rising need for accessible vertical mobility in response to demographic change. The global population aged 60 years and above is expanding rapidly, and this trend is increasing demand for barrier-free infrastructure in homes, healthcare facilities, assisted living centers, and public buildings. Hydraulic elevators are well suited to this environment because they can be installed with relatively limited structural modification, making them an efficient option for retrofit projects and aging-in-place applications.

This demand is especially visible in residential buildings and institutional settings where accessibility is no longer optional but increasingly expected. Many existing buildings were not originally designed with step-free mobility in mind, creating a large retrofit opportunity for elevator manufacturers and service providers. Hydraulic systems offer a balance of affordability, installation flexibility, and reliable performance, which makes them especially attractive for projects where full-scale structural redesign is impractical. As aging populations continue to expand in North America, Europe, and parts of Asia Pacific, accessibility-driven demand is expected to remain a long-term growth anchor for the market.

Regulatory Expansion and Building Compliance Requirements

Stricter building codes and accessibility mandates are also supporting hydraulic elevator adoption. Across major economies, governments and regulatory bodies are enforcing higher standards for public access, building safety, and inclusive infrastructure. These requirements are prompting building owners to install new elevator systems or modernize existing ones to remain compliant. In low-rise and select mid-rise structures, hydraulic elevators often present the most cost-effective route to meet these obligations without extensive redesign.

Compliance-driven demand is particularly strong in healthcare, education, retail, and residential applications, where accessibility standards are tightly linked to occupancy and licensing requirements. Building owners are increasingly prioritizing systems that can deliver reliability, safety, and code compliance while minimizing disruption during installation. Hydraulic elevators benefit from this shift because their simpler architecture and adaptable configuration make them suitable for phased upgrades and modernization programs. As standards continue to evolve, regulatory pressure will remain a key catalyst for installations and retrofits across mature and emerging markets alike.

Key Highlight: KONE Shareholders Approve US$34 Billion Acquisition of TK Elevator in 2026

A standout development for the elevator industry was the approval by KONE’s shareholders of the company’s planned US$34 billion acquisition of TK Elevator (TKE) in June 2026. The transaction, first announced in April 2026, is expected to create the world’s largest elevator company, surpassing Otis, while significantly strengthening KONE’s presence in the Americas.The acquisition received shareholder approval with 74% of voting power pre-committed in support of the deal. KONE’s management stated that the next phase involves regulatory filings across multiple jurisdictions and preparation of integration plans. The transaction is expected to face antitrust scrutiny and is estimated to require 12 to 18 months to complete, subject to regulatory approvals.

The cash-and-shares transaction was valued at €29.4 billion (approximately US$34.2 billion), including debt. Under the agreement, KONE will pay €5 billion in cash, issue 270 million new Class B shares, and assume €9.2 billion in TK Elevator’s net interest-bearing debt. KONE also indicated that certain divestments may be required in specific geographies to satisfy regulatory authorities. Upon completion, Advent International and Cinven are expected to receive equity stakes and board representation in KONE.

Segmentation Insights: Hole-less Hydraulic Elevators Lead While Roped Hydraulic Elevators Drive the Fastest Future Growth

Hole-less hydraulic elevators are expected to dominate the market with an anticipated 41.2% share, supported by their simple installation process, lower excavation requirements, and strong suitability for low-rise buildings and retrofit projects where structural modifications are limited. Their ability to reduce construction time and civil engineering costs continues to make them the preferred choice across residential, healthcare, and commercial applications. Meanwhile, roped hydraulic elevators are projected to be the fastest-growing product segment, driven by rising demand for compact, energy-efficient, and aesthetically integrated elevator systems in premium residential developments, luxury villas, and boutique commercial buildings. Ongoing product innovations focused on smoother ride quality, space optimization, and customizable designs are further accelerating adoption, enabling manufacturers to address evolving architectural requirements while strengthening their presence in high-value urban construction and modernization projects.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐅𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧: https://www.persistencemarketresearch.com/request-customization/36627 

Regional Insights: North America Leads While Asia Pacific Records the Fastest Market Growth

North America is expected to lead the hydraulic elevators market with an anticipated share of approximately 39.7%, supported by strong retrofit activity, strict accessibility regulations, and a mature service ecosystem. The United States remains the largest contributor, driven by compliance with ADA-related accessibility expectations and established safety standards. A significant portion of the installed elevator base in the region is aging, creating consistent demand for modernization in residential, healthcare, and institutional buildings. Canada is also contributing to regional growth through aging demographics and accessibility-focused housing demand.

Europe follows with steady demand anchored in building refurbishment and compliance-driven modernization. Much of the region’s building stock was developed decades ago, and owners are now investing in upgrades to meet newer safety, accessibility, and energy-efficiency requirements. Key markets such as Germany, the U.K., France, and Spain continue to generate healthy demand across residential and commercial applications. Manufacturers are responding with connected services, predictive maintenance capabilities, and lifecycle optimization programs. Investment activity remains concentrated in dense urban centers, where retrofitting older buildings is more practical than large-scale redevelopment.

Asia Pacific is expected to be the fastest-growing region in the hydraulic elevators market, supported by rapid urbanization, expanding low- and mid-rise construction, and rising demand for economical mobility solutions. China, India, Japan, and South Korea are among the most important markets in the region. In India, affordable housing and compact urban development are creating opportunities for cost-effective hydraulic systems, while China continues to drive large-scale construction demand. Japan and South Korea contribute through advanced manufacturing capabilities and innovation in elevator systems. Across Southeast Asia, infrastructure expansion and mixed-use development are adding further momentum.

Key Players and Business Strategies

Leading players in the hydraulic elevators market include Otis Worldwide Corporation, Schindler Group, KONE Corporation, TK Elevator, and Mitsubishi Electric Corporation.

Otis Worldwide Corporation continues to focus on modernization programs, digital monitoring, and service-led revenue expansion, especially in North America and Europe.Schindler Group and KONE Corporation are strengthening their connected service offerings, emphasizing predictive maintenance and lifecycle efficiency.TK Elevator is expanding its modernization portfolio and targeting retrofit opportunities in aging urban infrastructure.Savaria Corporation is leveraging demand for residential accessibility solutions, particularly in home elevator applications.Mitsubishi Electric Corporation, Hitachi Ltd., Hyundai Elevator Co., Ltd., and Fujitec Co., Ltd. are investing in product innovation, smart controls, and regional expansion to support growth in Asia Pacific.

Overall, competitive strategy in the hydraulic elevators market is centered on modernization, digital integration, energy efficiency, and customized solutions. Companies that can combine equipment sales with long-term service, maintenance, and upgrade offerings are likely to strengthen their market position and capture recurring revenue opportunities over the forecast period.

𝐁𝐮𝐲 𝐍𝐨𝐰: https://www.persistencemarketresearch.com/checkout/36627 

Market Segmentation

By Product Type

Hole-lessRopedHoled

By Capacity

1000-2000 kg4000-8000 kgUp to 1000 kgOver 8000 kg

By Application

ResidentialCommercialIndustrialInstitutional

By Speed

1-2 m/sOver 3 m/sUp to 1 m/s2-3 m/s

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Ramp Launches Ramp for Construction to Help Companies Catch Job Overruns Before Month-End

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New capabilities automate job coding for field crews and give finance real-time visibility and control across every project

NEW YORK, July 14, 2026 /PRNewswire/ — Ramp today launched Ramp for Construction, a suite of construction-specific capabilities across Ramp’s financial operations platform to help general contractors, builders, and subcontractors control spend at the job level, protect margins, and catch overruns before they happen.

For many construction firms, overruns surface at month-end, after card charges, invoices, approvals, and job codes have finally been reconciled—and after the margin is already gone. The problem is fragmentation: cards in one place, AP in another, approvals over email, and job coding in spreadsheets. In a nearly $2.2 trillion U.S. industry built around tight job-level margins, disconnected systems make it harder for contractors to see and control spend in real time.

Ramp for Construction connects the field and back office at the point of spend. Field crews get a simpler way to make purchases, capture receipts, and confirm job details without sorting through irrelevant codes or chasing paperwork weeks later. Finance teams get cleaner project data from the start, managed centrally and synced with the systems they already use.

“I drop the invoice in and Ramp pulls all the amounts, retainage included, and matches it against what’s committed on the PO,” said David Anderson, Accountant at Dick Anderson Construction. “It updates in real time as I enter invoices and change orders, so when it’s time to release, I just check the balance in Ramp and release it, no separate report needed.”

Ramp for Construction adds construction-specific capabilities across Ramp’s cards, expense, and accounts payable platform:

Less admin for field crews: Ramp AI pre-fills the job, phase, and cost code based on the field worker and expense, so crews simply one-click review and confirm. Mobile and SMS receipt capture keeps submissions quick.Project-based approvals: Route expenses and bills to the project manager accountable for each job, giving construction firms a first line of defense to review spend, catch issues, and maintain control before costs are approved.Real-time project visibility: Ramp tracks card, bill, and purchase order activity to show actuals vs budget as spend happens on each project.Automated retainage tracking: Ramp tracks retainage from purchase order through release, helping general contractors enforce holdbacks, reduce manual spreadsheet work, and protect against financial risk.Compliant subcontractor payments: Ramp checks that lien waivers, W-9s, and certificates of insurance meet company policy before payment, helping teams reduce risk without adding manual review to every payout.

“Construction firms should have the visibility they need to manage project profitability in real time,” said Geoff Charles, Chief Product Officer at Ramp. “Every card swipe and invoice should hit the right job, cost code, and budget the moment money moves. Ramp for Construction gives finance teams the controls to enforce compliance, protect margins, and act with confidence as projects evolve.”

Ramp for Construction is already helping firms improve operations. More than 70% of receipts are matched within 24 hours, field teams submit 2.7x more transactions with accurate cost coding at the time of submission, and teams save more than 15 hours each month through automated retainage tracking and compliance document reviews.

Ramp for Construction supports Viewpoint Vista, Viewpoint Spectrum, Sage 100 Contractor, Sage 300 CRE, Sage Intacct, Sage Intacct Construction, CMiC, Acumatica, NetSuite, and QuickBooks Online.

Ramp for Construction is available now. Learn more at ramp.com/construction.

About Ramp

Ramp is how companies save time and money on every dollar they spend. It’s the smart financial infrastructure behind every card swipe, invoice, and reimbursement – streamlining approvals, processing payments, and closing the books automatically. More than 70,000 organizations, from family farms and space startups to the Fortune 100, have saved over $12 billion and 27 million hours with Ramp. For the median customer, that translates to 5% savings on expenses and 16% revenue growth in their first year. Founded in 2019, Ramp powers over $200 billion in purchases annually. Learn more at www.ramp.com.

* Ramp does not include bank transfers or non-monetized payments when calculating Total Purchase Volume.

press@ramp.com

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SOURCE Ramp

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Eagle Hill Retention Index: Employee Retention Outlook Softens as Workers Reassess Their Options

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Declining Compensation Sentiment and Renewed Confidence in Job Opportunities Signal Growing Attrition Risk—Especially Among Millennials

ARLINGTON, Va., July 14, 2026 /PRNewswire/ — The latest Eagle Hill Consulting Employee Retention Index declined 1.3 points in the second quarter of 2026 to 104.2, marking its lowest level in the past year and signaling that U.S. workers will be less likely to remain in their current roles over the next six months. While retention remains relatively strong by historical standards, the latest data suggest employers may be entering a period of increased workforce mobility.

The decline comes as employees grow less satisfied with their compensation while simultaneously growing more optimistic about opportunities in the external job market. Notably, these shifts occurred even as employees’ confidence in organizations and satisfaction with workplace culture improved.

“Today’s workforce is sending employers a nuanced message,” said Melissa Jezior, president and chief executive officer of Eagle Hill Consulting. “Employees generally feel good about their organizations and workplace culture, but many are questioning whether their compensation and long-term growth opportunities are keeping pace with the market. When workers begin to believe they have better options elsewhere, retention risks increase, even inside organizations with strong cultures.”

The findings come as the broader labor market sends mixed signals. The latest Job Openings and Labor Turnover Survey (JOLTS) showed job openings holding steady at 7.6 million, exceeding expectations and suggesting opportunities remain available for workers considering a move. At the same time, the June jobs report showed hiring slowed considerably, highlighting a labor market that is cooling but continues to offer opportunities for skilled talent.

“Employers shouldn’t interpret a slower hiring market as a reason to become complacent,” Jezior added. “Workers are evaluating the entire employee experience, not just whether they have a job, but whether they see a future with their employer. Organizations that invest in career development, leadership, culture, and meaningful rewards will be in the strongest position to retain critical talent as mobility begins to increase.”

Key Retention Index Indicators

Compensation Indicator: Declined 5.6 points, representing the only indicator to weaken this quarter.Job Market Opportunity Indicator: Increased 1.9 points, reflecting growing optimism about external job opportunities.Organizational Confidence Indicator: Increased 0.9 points, rebounding after two consecutive quarters of decline.Culture Indicator: Increased 0.3 points, continuing its steady upward trend for a fourth consecutive quarter.

Millennials Emerge as the Biggest Retention Risk
Although overall retention outlook declined modestly, the largest shift occurred among Millennials. Millennials experienced a 6.1-point decline in the Retention Index, signaling that they pose an attrition risk. They were the only generation to report declines across organizational confidence, compensation, and culture while simultaneously expressing greater confidence in outside job opportunities.

As Millennials increasingly occupy management, leadership, and specialized professional roles, this shift could have outsized implications for organizations.

“Millennials now represent the backbone of leadership pipelines across many organizations,” said Jezior. “When this generation begins questioning whether to stay, employers risk losing institutional knowledge, leadership continuity, and future executives. The findings underscore why retaining high-potential talent must be a core business and workforce planning priority, not just an HR initiative.”

Generational Gap Begins to Narrow
Unlike previous quarters, retention outlooks across generations became more closely aligned.

Gen Z reported a modest decline.Millennials experienced the sharpest drop.Gen X became more likely to stay.Baby Boomers also showed improved retention sentiment.

Compensation Increasingly Drives Retention Decisions
The Compensation Indicator experienced its sharpest decline in recent quarters, suggesting employees are placing greater emphasis on total rewards, future earning potential, and advancement opportunities.

Combined with improving perceptions of external job opportunities, the findings indicate workers may increasingly compare what they receive today against what they believe they could earn elsewhere.

The Eagle Hill Employee Retention Index is a first-of-a-kind market indicator that tracks worker sentiment across four proven drivers of retention: organizational confidence, culture, compensation, and job market opportunity.

The Organizational Confidence Indicator measures how confident employees are in their organization’s future and leadership.The Culture Indicator looks at employee sentiment about their workplace culture, connections, and whether they feel valued and recognized.The Compensation Indicator measures how employees view their compensation, benefits, and ability to grow their compensation at their organization.The Job Market Opportunity Indicator measures how employees perceive external prospects for employment and job security in the near term.

Each month, the Eagle Hill Consulting Employee Retention Index measure shifts in workforce retention based upon ongoing employee opinion surveys on factors related to worker intentions to change jobs. As the Employee Retention Index increases, it signals an increase in retention in the next six months. As the Employee Retention Index decreases, it signals to employers that workers are more likely to leave their jobs, and organizations can expect more turnover in the next six months.

The Eagle Hill Consulting Employee Retention Index is based on a monthly omnibus survey conducted by IPSOS of a nationally representative sample of U.S. adults employed full- or part-time. Quarterly indices and reports are issued based on a minimum of 1,200 aggregated responses per quarter. Respondents are polled on a range of workforce topics including organizational confidence, culture, compensation, and job market opportunity.
The survey commenced in December 2022, and the most recent data was collected from April and June 2026.

Eagle Hill Consulting LLC is an award-winning business that provides unconventional management consulting services in the areas of Organizational Performance, Business Intelligence, Technology Enablement, Talent, and Change Management. The company’s expertise in delivering innovative solutions to unique challenges spans across Fortune 500 companies, government agencies, and global nonprofits. Eagle Hill has offices in the Washington, D.C. metropolitan area, Boston, MA, and Seattle, WA. More information is available at www.eaglehillconsulting.com.

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SOURCE Eagle Hill Consulting LLC

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New Flywheel Report Shows How Brands Can Turn Fragmentation into a Competitive Advantage

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The Big Shift outlines how a Total Commerce approach can connect media, retail, trade and consumer engagement as shopping journeys become increasingly complex.

BALTIMORE, July 14, 2026 /PRNewswire/ — Flywheel, a leader in commerce and technology solutions and part of the Omnicom (NYSE: OMC) Integrated Media offering, today released The Big Shift: From Managing to Mastering Fragmentation, a new white paper examining how AI-powered search, social commerce, retail media and organizational silos are reshaping the way brands drive growth.

While 80% of consumers (OM Research, Connected Commerce 2024) now take a non-linear path to purchase, many brands still manage media, retail, trade, and shopper marketing through separate teams, budgets, and performance metrics. According to Flywheel, that disconnect leads to wasted media investment, missed sales opportunities, unmeasured promotional impact, and reduced organizational agility.

The report argues that brands must adopt a Total Commerce approach, a business model that unifies consumer discovery, retail activation, media investment, trade planning, and measurement into one operating system focused on business outcomes rather than channel performance.

“The way consumers discover and buy products has fundamentally changed,” said Mike Feldman, SVP Commerce at Flywheel. “A shopper might discover a product through a creator, research it through an AI assistant, purchase it through a retailer marketplace and pick it up in-store, all within a few hours. The brands winning today are not treating those moments as separate channels. They are organizing around one connected consumer journey.”

The report notes that TikTok generated $33.1 billion in gross merchandise volume in Q1 2026, surpassing eBay and demonstrating how quickly discovery and purchase are converging on a single platform.

The report identifies three forces accelerating the fragmentation challenge:

Consumer discovery has fundamentally changed. Social platforms have become primary discovery engines, with 73% of Gen Z and 67% of Millennials (Salsify, 2025) citing social media as their main source for learning about new products. Nearly half of social media users have also used influencers in their purchase journey.AI is becoming a new discovery channel. Thirty-six percent of consumers, including 45% of Gen Z and 51% of Millennials (OM Research – GEO Update April 2026) say they have shifted most of their searches from traditional search engines to generative AI platforms.Retailers have become media companies. Retailers now operate advertising businesses, premium content platforms and closed-loop measurement capabilities that increasingly connect media exposure to purchase behavior.

The report arrives as marketers grapple with many of the same trends that dominated conversations at this year’s Cannes Lions Festival of Creativity, including creator commerce, retail media, and AI-powered discovery. Against that backdrop, The Big Shift emphasizes the continued importance of physical retail, arguing that while discovery increasingly happens across creators, AI, retail media and connected TV, the shelf remains one of the most critical moments in the consumer journey.

“The physical shelf is still one of the most important moments in commerce, but it is no longer where the consumer journey begins,” said Phil Camarota, Chief Creative Officer at Flywheel and President of the Cannes Lions Creative Commerce Jury. “By the time a shopper reaches a store or product page, they have already been influenced by creators, retail media, reviews, AI recommendations and countless other touchpoints. The brands that succeed are creating one connected experience, across all those moments.”

The report also highlights Flywheel client Danone’s “Become a Home’Rista” campaign as an example of Total Commerce in action. Built around the insight that many consumers believed barista-quality coffee required professional expertise, the program connected influencer content, retail media, digital shelf activation and in-store experiences across multiple retailers. The campaign generated 641 million impressions and multi-brand halo sales across Danone’s portfolio.

Ariel Dalton, Head of Strategic Insights, Planning & Connected Commerce at Danone shared: “We uncovered what we call the ‘barista gap’ and built a campaign that inspires consumers to recreate and elevate the coffeehouse experience at home. The success of this campaign demonstrated the power of pairing a compelling consumer insight with the strength of Danone’s portfolio, to deliver a daily ritual that feels both elevated and unique to the consumer. What began as a pilot in 2025 has evolved into one of our flagship programs, scaling across multiple retail activation nationwide.

“Fragmentation leaves brands with a simple choice: manage it or master it,” Feldman said. “Brands that own consumer journeys across channels, orchestrate with retailers around shared outcomes and align internally around one set of goals will create competitive advantage. The brands that master fragmentation will define the next era of commerce.” 

About Flywheel:

Flywheel, a leader in commerce and technology solutions and part of the Omnicom (NYSE: OMC) Integrated Media offering, provides best-in-class service that combines tailored expertise with advanced software solutions to help clients drive incremental sales, market share, profitability, and measurable commerce growth.

A leader across major marketplace platforms, Flywheel combines global scale and influence with a customized, client-centric approach designed to deliver impactful business outcomes. Client success remains at the center of the company’s mission.

With operations across the Americas, Europe, APAC, and China, Flywheel is widely recognized for the scale of its retail media capabilities, while delivering value across the entire commerce ecosystem. The company helps brands navigate the evolving commerce landscape through integrated solutions built to accelerate growth and performance.

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SOURCE Flywheel Digital

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