What KONE does

KONE Corporation is a global manufacturer and service provider in the elevator, escalator, and people-flow industry, headquartered in Espoo, Finland, and publicly listed on Nasdaq Helsinki under the ticker KONE. Founded in 1910, the company designs, manufactures, installs, modernizes, and services elevators, escalators, automatic building doors, and integrated vertical transportation solutions for building developers, property owners, facility managers, and infrastructure operators across nearly 70 countries. Its installed base moves more than 2 billion people daily and includes more than 800,000 connected elevators globally. The company operates three reporting segments: new equipment (elevators, escalators, and automatic building doors for new construction, cyclical with construction activity), service and maintenance (recurring contracts, approximately 52% of net sales at EUR 1,316M in Q1 2026 and growing 6.3% year-on-year in local currencies), and modernization (upgrades and full replacements of aging equipment).

The product portfolio is anchored by the DX Class smart elevator family (KONE MonoSpace DX, MiniSpace DX, TranSys DX), the TravelMaster and TransitMaster escalator and moving-walk lines, and proprietary technologies including the EcoDisc gearless traction motor and UltraRope carbon-fiber hoisting (enabling elevator travel up to one kilometer, double the practical steel-rope limit). The connected services stack comprises KONE Predictive Maintenance, KONE Remote Service, Polaris Destination Control, E-Link centralized monitoring, KONE Access, and the myKONE customer portal, with cloud infrastructure delivered through a seven-year strategic partnership with Amazon Web Services signed in January 2026. The company holds more than 3,000 patents and operates the KONE Renaissance Ecosystem digitalization program launched in July 2025.

KONE's business model is enterprise B2B with three revenue streams: new equipment (one-time, project-based), service and maintenance (recurring, multi-year contracts), and modernization (one-time projects). Pricing is quote-based rather than publicly disclosed, with contracts structured around specific equipment, building, and service-scope requirements. Go-to-market blends a direct sales force in major markets with a global authorized distributor network covering Africa, the Middle East, and parts of Asia-Pacific, supplemented by five regional offices in India (including a new Hyderabad Central Region hub) and manufacturing operations in Finland (Hyvinkää) and India (Sriperumbudur). The company holds sustainability leadership credentials, including first-in-industry science-based climate targets (verified by SBTi), CDP Climate A List placement, EcoVadis Platinum and Gold medals, and a ranking as the 54th most sustainable company globally (and highest-performing elevator company) on Corporate Knights' 2026 Global 100. The pending EUR 29.4 billion combination with TK Elevator, announced in April 2026 and expected to close in Q2 2027, would create the world's largest pure-play elevator and escalator company at approximately EUR 20.5 billion in combined annual sales, 100,000+ employees, and EUR 700 million in targeted annual cost synergies.

Name

KONE

Legal name

KONE Corporation

Website

https://kone.com

Company type

Public

Founded year

1910

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

KONE Corporation is a global elevator, escalator, and people-flow solutions provider serving building developers, property owners, and infrastructure operators across nearly 70 countries with connected, AI-driven equipment and recurring service contracts.

Ownership category

akta.pro rank

Product category

Vertical transportation equipment (elevators and escalators)

NAICS

Elevator and Moving Stairway Manufacturing (333921)

akta.pro primary industry

Specialty Access & Scaffolding Rental/Leasing (TLABAFAL)

Keywords

• Elevator manufacturing
• Escalator systems
• Building maintenance services
• People flow solutions
• Elevator modernization

Headquarters

HQ city

Espoo

HQ country

Finland

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. New Equipment Sales: Sale of elevators, escalators, and automatic building doors for new construction projects. This segment is cyclical and tied to construction activity globally.
2. Service and Maintenance: Recurring service revenue from maintenance contracts on installed base of elevators and escalators. Service revenue grew 6.3% in local currencies to EUR 1,316 million, representing about 52% of net sales in Q1 2026.
3. Modernization: Modernization solutions for upgrading existing elevator and escalator installations, including component upgrades, full replacements, and modular modernization options.
4. Digital Services: Additional revenue from connected elevator services, remote monitoring, and digital solutions integrated into the service offering.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels7 records

Core offering

KONE designs, manufactures, sells, and services elevators, escalators, automatic building doors, and integrated people-flow solutions for new construction, modernization, and maintenance of commercial, residential, and infrastructure buildings. Its offering is organized into three business areas — New Equipment (DX Class elevators, TravelMaster/TransitMaster escalators and moving walks, automatic doors), Service (KONE Care maintenance contracts, remote monitoring, AI-driven predictive maintenance), and Modernization (upgrades and full replacements of installed equipment) — and is sold globally to building developers, property owners, and facility operators through direct enterprise sales and a distributor network.

Product overview

KONE is a global leader in elevator and escalator manufacturing, operating as a multi-segment platform with three core business areas: New Equipment (elevators, escalators, and automatic building doors), Services (maintenance, repairs, and remote monitoring), and Modernization (upgrades and full replacements). The product portfolio is organized around the KONE DX Class smart elevator family (MonoSpace DX, MiniSpace DX, TranSys DX), a full range of escalators and moving walks (TravelMaster and TransitMaster series), automatic building doors (revolving, sliding, swing, hermetic, gliding), and advanced digital solutions including KONE Polaris destination control, KONE E-Link monitoring, KONE Access control, KONE Remote Service, and KONE Predictive Maintenance powered by AI. KONE's digital platform includes KONE Studio for planning, myKONE customer portal, KONE Interact 30 for customer planning, and the KONE Renaissance Ecosystem for digitalization and modernization. The company also offers specialized solutions such as the KONE UltraRope carbon fiber rope technology for tall buildings and the KONE Villa 100 for residential applications.

Differentiator

Problem solved

Functional benefit

Brands

• KONE MonoSpace: Machine-room-less elevator solution for small to medium height buildings
• KONE MiniSpace
• KONE TranSys
• KONE EcoDisc
• KONE UltraRope
• KONE Polaris
• TravelMaster
• TransitMaster
• KONE Care
• People Flow

Products and services

• KONE MonoSpace DX Machine-room-less passenger elevator that eliminates the need for a separate machine room, offering significant space savings for low to mid-rise residential and commercial buildings. Part of the KONE DX Class family with built-in connectivity.
• KONE MiniSpace DX Compact machine-room elevator with cloud connectivity optimized for mid to high-rise buildings, offering high-speed passenger elevator capability with the eco-efficient KONE EcoDisc traction machine.
• KONE TranSys DX Machine-room-less passenger elevator designed for public transit, retail, and healthcare organizations, offering people-flow improvement with KONE's DX Class connectivity features.
• KONE TravelMaster 110 Reliable commercial escalator designed for high-traffic areas, optimized for energy efficiency and retail environments.
• KONE TravelMaster 115 Inclined autowalk designed for demanding people-flow requirements in retail environments such as shopping centers, department stores, and supermarkets.
• KONE TransitMaster 120 Reliable and energy-efficient escalator optimized for transit centers, providing smooth, safe movement even in the most challenging high-traffic conditions.
• KONE TransitMaster 140 Heavy-duty escalator designed for demanding public transport environments such as airports and metro stations.
• KONE TransitMaster 165 Heavy-duty travelator (horizontal moving walkway) solution for seamless, reliable people movement, primarily intended for infrastructure segments requiring high-capacity passenger movement such as airports, rail stations, and stadiums.
• KONE Villa 100 Compact, energy-efficient home elevator featuring space-saving gearless technology designed for villas and low-rise residential buildings, launched in India in January 2026.
• KONE Interact 30 Digital customer planning and configuration tool launched in July 2025, enabling customers to explore designs, options, and configurations for their next building project.
• KONE Studio Next-generation online planning and design tool for elevators, integrating all core planning tools into one online service for customer customization and project management.
• KONE Predictive Maintenance AI-driven monitoring and predictive maintenance service using IoT sensors across the connected elevator fleet, reported by KONE to cut equipment failures by 80% by monitoring more than 50 parameters per minute.
• KONE Remote Service Remote monitoring and service capability using connected elevator data to enable remote diagnostics, status tracking, and service interventions without physical technician visits.
• KONE Care Maintenance and service programs (including KONE Care DX with carbon-neutral maintenance) covering the full lifecycle of elevator, escalator, and automatic building door equipment.
• KONE Modernization Solutions Modernization solutions for upgrading existing elevator and escalator installations, including component upgrades, full replacements, and modular modernization options.

Quantifiable outcome

• Equipment failures reduced by 80% through AI-driven predictive maintenance
• +4 more outcomes

Named customers11 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

AI capability8 records

Feature7 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• TK Elevator (from Advent International and Cinven)coreStrategic or Co-development Partner · 29 April 2026KONE agreed to acquire TK Elevator in a €29.4 billion cash-and-stock deal to create the world's largest elevator and escalator company. The combined entity would have over €20.5 billion in annual sales and 100,000+ employees, with expected annual cost synergies of €700 million.
• Amazon Web Services (AWS)coreTechnology or Integration · 28 January 2026KONE and AWS signed a seven-year extension to their partnership deal focused on smart building technologies, enabling KONE's cloud infrastructure and digital services.
• Orbitz ElevatorsminorStrategic or Co-development Partner · 8 May 2024KONE acquired Orbitz Elevators, an Australian-based provider of elevator and escalator solutions. The acquisition includes Orbitz's service business in Australia and all business lines in New Zealand, with approximately 40 employees joining KONE.
• Quest GlobalminorStrategic or Co-development PartnerKONE joined Quest Global's 'Break the Silence' campaign supporting women experiencing pregnancy loss in the workplace, alongside other companies including Bharat Serum Vaccines, Amara Raja, Sterlite Technologies, and the Indian Pharmaceutical Alliance.
• University of Turku and SodexominorStrategic or Co-development PartnerKONE collaborated with the University of Turku and food service company Sodexo to use elevator data for predicting visitor trends at the Flavoria campus restaurant, reducing food waste by approximately 15-20%.
• UC Berkeley Master of Analytics ProgramminorStrategic or Co-development PartnerKONE Fellowship for Future Analytics Leaders partnership where students apply analytics, AI, and machine learning to real-world urban mobility challenges including elevator data analysis and predictive maintenance.
• Petra Elevators CompanyminorChannel Partner/ Reseller/ DistributorJordan-based elevator company partnered with KONE to supply and install KONE People Flow technologies for Kingdom Health's integrated medical education project including Kingdom University Hospital.
• PARAGON DevelopmentsminorStrategic or Co-development PartnerPartnership with Egyptian developer for smart, IoT-enabled solutions in the New Administrative Capital project, promoting sustainable and intelligent building systems.
• UNIDO (United Nations Industrial Development Organization)minorStrategic or Co-development PartnerKONE signed a cooperation declaration with UNIDO to launch a pilot training program in Tamil Nadu, India in 2026, aimed at strengthening sustainability and compliance practices among KONE and its suppliers.
• Walker SCMminorImplementation/ SI/ Consulting PartnerPartnership with Walker SCM for elevator solutions in the JFK Airport redevelopment project in New York.

Scale indicators12 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Otis Worldwide: Otis is the world's largest pure-play elevator and escalator manufacturer and KONE's principal global competitor. Both companies sell new equipment, service, and modernization through direct sales and authorized dealer networks, and compete head-to-head in commercial, residential, and infrastructure segments globally.
• Schindler Group: Schindler is a Switzerland-based global elevator and escalator manufacturer with comparable product portfolios (new equipment, service, modernization) and a similar enterprise B2B go-to-market model. Schindler and KONE compete directly in Europe, Asia, and the Americas on smart elevator technology and service contracts.
• Mitsubishi Electric (Building Systems Division): Mitsubishi Electric's elevator and escalator division is a global direct competitor, particularly dominant in Asia-Pacific. Both companies compete on high-rise elevator technology, destination control systems, and connected service offerings for commercial and residential buildings.
• Hitachi (Building Systems): Hitachi's Building Systems division manufactures elevators, escalators, and building management solutions, making it a direct peer in vertical transportation. Both serve large infrastructure projects and commercial buildings with integrated people-flow solutions.
• TK Elevator: TK Elevator is one of the world's largest elevator and escalator companies and is being acquired by KONE in a EUR 29.4 billion deal. Until close, it remains a direct competitor in new equipment, service, and modernization across Europe, the Americas, and Asia-Pacific.
• Hyundai Elevator: Hyundai Elevator is a major Korean elevator and escalator manufacturer with strong presence in Asia. It competes with KONE in residential, commercial, and high-rise segments and represents one of the principal Asian challengers in KONE's core markets.
• Canny Elevator: Canny Elevator is one of China's largest elevator manufacturers, competing with KONE in residential and mid-rise commercial segments. As a regional Asian scale player, it pressures KONE's pricing and market share in the rapidly growing Chinese and Southeast Asian markets.
• SJEC Corporation: SJEC is a leading Chinese elevator and escalator manufacturer exporting globally. It overlaps with KONE in low- and mid-rise residential and commercial elevator product lines, representing a competitive threat on cost and scale in emerging markets.

Broad incumbents

• Johnson Controls: Johnson Controls is a broad building technologies incumbent providing HVAC, building automation, security, and fire safety solutions. While not a direct elevator manufacturer, it overlaps with KONE in smart building integration, access control, and building-level IoT platforms for commercial real estate customers.
• Honeywell (Building Technologies): Honeywell's Building Technologies division offers building management systems, access control, and energy optimization solutions. It overlaps with KONE's smart building ambitions and competes for the same enterprise customer wallet share on integrated people-flow and facility management.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/KONEUK
• LinkedInlinkedin.com/company/kone

Compliance12 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A37 records

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about KONE