Strategy and growth drivers

At KONE, our purpose is to shape the future of cities. We understand urbanization and help our customers make the best of the world’s cities, buildings and public spaces. We make urban life more vibrant and livable. And we do it by enabling safe, sustainable, and effortless people flow for all. We help cities leave a positive mark on the planet - for the next century and beyond.

The growth of the elevator and escalator industry is driven by three key megatrends, urbanization, sustainability and technology.

Today, more than 50% of people live in urban areas and by 2050, that number is expected to increase to 68%, adding 2.2 billion people to urban areas. The world will continue to urbanize but the nature of urbanization is changing. The way we live, work and commute will continue to transform.

Impact on the industry: demand for new equipment, growth of installed base, demand for modernization of buildings to adapt to changing needs

Globally cities stand for 75% of energy consumption and 80% of manmade greenhouse gas emissions. Requirements for smart and energy-efficient solutions, healthy and sustainable materials and overall, green and sustainable buildings are increasing. Sustainable building and circular practices are becoming more mainstream in new construction and refurbishment.

Impact on the industry: increasing customer requirements, broader array of business opportunities related to sustainable solutions

Technologies can be used to anticipate future needs. New technologies are enablers for solving many challenges, including challenges related to rapid urbanization and climate change.

Impact on the industry: opportunities to create value for customers in new ways, new revenue streams, automation and new ways of working