The reported market shift
In its 22 July half-year report, KONE described strong global growth in the modernization market during the first half of 2026. The company attributed demand to aging equipment and interest in improved energy efficiency. Service markets grew across all regions. [1]
Different conditions for new installations
The report describes significant new-building market growth in Asia-Pacific, the Middle East and Africa, alongside a significant decline in China. These are KONE’s market assessments, not a count of skyscrapers being built or a forecast for any individual tower. [1]
Why tower owners should care
Editorial analysis: upgrading vertical transport is a practical question of keeping an occupied building moving. Useful project information would include the equipment being retained, the installation sequence and the passenger capacity available during each phase. A modernization announcement becomes more informative when it explains how service will continue while individual cars are unavailable.
Sources & references
Sources reviewed 9 September 2026. Undated guidance and product pages can change. Dated research and announcements retain their original context; technical principles do not substitute for locally adopted project standards.
- KONE. Half-year financial report, January–June 2026.22 July 2026.