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The global elevator and escalator market size is estimated at around USD 79.9 billion in 2021. This huge figure is expected to increase at a compound annual growth rate (CAGR) of 6.4% up till 2028. With such promising current market size and market growth rates, it can be a good idea for businesses to enter the industry. One way to capitalise on this market is by buying wholesale elevator motor power and reselling them to installation and repair service businesses, malls and landlords. You can also use them directly as part of your own business.

When buying or selling wholesale elevator motor power, it is important to understand the different types of elevators there are. Hydraulic elevator components are different from traction elevator components. Hydraulic elevator components include a tank, motor pump, valve, and actuator. Meanwhile, a standard traction elevator will have a motor, drive sheave, brake and machine bed plate.

Understanding the type of elevator motor power your customers use or are looking for can help you to recommend the correct elevator motor power for them. Sometimes, even if all the elevator door parts and other elevator motor power are perfectly fine, it may be good for your customers to have elevator spare parts in case of emergency.

Find elevator parts for sale on Alibaba now. Start shopping and buy affordable elevator motor power from wholesalers online!