What KONE does

KONE Corporation, founded in 1910 and headquartered in Espoo, Finland, is one of the world's largest manufacturers and service providers of elevators, escalators, moving walkways, and automatic building doors. The company designs and sells a full product portfolio ranging from the KONE MonoSpace DX and EcoSpace (machine-room-less elevators for residential and low-rise buildings) to the KONE Alta high-speed elevator (capable of 17 m/s for supertall skyscrapers), as well as the KONE DX class of IoT-connected elevator systems, KONE UltraRope carbon-fibre rope technology, and the KONE EcoDisc gearless PMSM motor. Service and modernization solutions (KONE Care, KONE Care DX, KONE 24/7 Connected Services, KONE EcoMod, MonoSpace Upgrade) cover the entire equipment lifecycle across all brands.

KONE generates revenue through three primary streams: new equipment sales (hardware), aftermarket service and maintenance contracts (recurring, now exceeding 65% of Q1 2026 sales), and modernization/upgrade projects. Pricing is project-specific with no public list; service contracts are negotiated annually or multi-year. Distribution is primarily direct field sales in over 60 countries, supplemented by regional installation and distribution partners (e.g., United Elevators in Egypt, Petra Elevators in Jordan). The KONE Digital Platform, deployed in partnership with AWS, connects over 40% of the global installed base to the cloud and supports AI-driven predictive maintenance across nearly 800,000 devices. KONE employs over 60,000 people globally, reported EUR 11.2 billion in 2025 net sales at an 11.9% EBIT margin, and is publicly listed on Nasdaq Helsinki. In April 2026 it announced a EUR 29.4 billion cash-and-share combination with TK Elevator that would create the world's largest lift and escalator company by market value, with EUR 20.5 billion in combined revenue and EUR 700 million projected annual synergies upon expected close in Q2 2027.

Name

KONE

Legal name

KONE Corporation

Website

https://kone.it

Company type

Public

Founded year

1910

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

KONE Corporation, founded in 1910 in Finland, is one of the world's largest manufacturers of elevators, escalators, and automatic doors, serving commercial developers, building owners, and infrastructure operators across 60+ countries through a combined hardware, service, and modernization business.

Ownership category

akta.pro rank

Headquarters

HQ city

Espoo

HQ country

Finland

HQ region

Europe

Offices10 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Supply Chain, 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 includes KONE MonoSpace, MiniSpace, Alta, TranSys, EcoSpace, panoramic elevators, TravelMaster escalators, and automatic doors. Revenue from new equipment is under pressure in mature markets like China but remains a core business.
2. Service and Maintenance Contracts: Recurring maintenance contracts covering all elevator, escalator, and automatic door brands. Aftermarket/service sales exceeded 65% of total sales in Q1 2026, making this the dominant revenue stream. Includes KONE Care, KONE Care DX, KONE 24/7 Connected Services, and KONE Remote Service. Provides annuity-like income buffering against construction cycles.
3. Modernization and Upgrade Solutions: Full replacement, modular modernization, component upgrades, and modernization of doors and escalators for existing buildings. Supports transition from reactive to preventive maintenance strategies. Includes MonoSpace Upgrade, NanoSpace DX, EcoMod escalator modernization, and KONE Care for Life programs.
4. Digital Services: IoT-based predictive maintenance, remote monitoring, cloud connectivity services, and digital platforms including KONE Digital Platform, 24/7 Connected Services, MyKONE customer portal, and AI-driven analytics. Emerging revenue stream growing through AWS partnership.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels8 records

Core offering

KONE designs, manufactures, and services elevators, escalators, moving walkways, and automatic building doors for commercial, residential, and infrastructure projects globally. The company provides a full-lifecycle offering spanning new equipment installation, IoT-based predictive maintenance, modernization, and digital people flow planning, supported by proprietary technologies including the KONE EcoDisc motor, KONE UltraRope carbon-fibre cabling, and the cloud-connected KONE Digital Platform serving nearly 800,000 connected devices worldwide.

Product overview

KONE Corporation is a global leader in elevators and escalators offering a comprehensive portfolio of products organized as a platform-plus-modules architecture. Core products include the KONE MonoSpace® DX (machine-room-less elevator), KONE MiniSpace™ DX (high-rise elevator with machine room), KONE EcoSpace™ (residential elevator), KONE Alta™ (ultra-high-speed skyscraper elevators up to 17 m/s), KONE TranSys™ DX (freight elevator), KONE Motus (accessibility platform lifts), and KONE Villa 100 (home elevator). The KONE Digital Platform serves as the central IoT/cloud infrastructure connecting devices globally. Supporting modules include KONE Care/Care DX (maintenance services), KONE 24/7 Connected Services (IoT monitoring), KONE Remote Service, KONE EcoMod (escalator modernization), KONE MonoSpace Upgrade, and KONE Care for Life. Additional offerings include automatic building doors, People Flow Planning and Consulting services, and KONE Studio for digital planning tools.

Differentiator

Problem solved

Functional benefit

Brands

• People Flow: KONE's integrated approach to managing people movement within and between buildings, combining equipment and services for smart building solutions.
• KONE MonoSpace
• KONE MiniSpace
• KONE EcoDisc
• KONE UltraRope
• KONE Care
• KONE 24/7 Connected Services
• KONE DX
• KONE TranSys
• KONE Alta
• KONE EcoSpace
• KONE Motus
• KONE Villa 100
• KONE Studio
• TravelMaster
• TransitMaster
• myKONE

Products and services

• KONE MonoSpace DX Elevator Machine-room-less elevator providing energy-efficient operation, modern ride comfort, and award-winning interior design for medium and low-rise buildings requiring modernization or new installation.
• KONE MiniSpace DX Elevator High-speed elevator with a small machine room for mid-rise and high-rise buildings, featuring the KONE EcoDisc motor for high energy efficiency and customizable interiors.
• KONE Alta Elevator

Quantifiable outcome

• AI-driven predictive maintenance cuts equipment failures by 80%
• +7 more outcomes

Named customers17 records

Segments9 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability6 records

Feature21 records

Partnerships

Nine partnerships are on record, tiered minor and core.

• Stibbe (legal counsel)minorImplementation/ SI/ Consulting Partner · 1 May 2026Stibbe acted as local counsel to KONE Corporation on its proposed combination with TK Elevator (TKE) in the cash-and-share transaction valued at approximately EUR 29.4 billion.
• TK Elevator (TKE)coreStrategic or Co-development Partner · 1 April 2026KONE agreed to combine with TK Elevator in a cash-and-share transaction implying an enterprise value of EUR 29.4 billion, creating the world's largest lift and escalator company by market value with approximately EUR 20.5 billion in annual sales and over 100,000 employees across more than 100 countries. The combined entity will maintain 3.2 million units under maintenance globally and achieve EUR 700 million in annual run-rate synergies. Completion expected in Q2 2027 pending regulatory and shareholder approvals.
• Petra ElevatorscoreChannel Partner/ Reseller/ Distributor · 1 March 2026Kingdom Health partnered with Petra Elevators Company to supply and install elevator and escalator systems across its integrated medical education project in Jordan (Kingdom University of Health Sciences and Kingdom University Hospital). Petra Elevators utilizes KONE's People Flow technologies for long-term maintenance and servicing to ensure safety, reliability, and uninterrupted performance.
• University of Turku and SodexominorStrategic or Co-development Partner · 1 February 2026KONE collaborated with the University of Turku and food service company Sodexo to use elevator data to predict visitor trends at the Flavoria campus restaurant in Finland, enabling kitchen staff to better anticipate busy periods and reduce food waste by approximately 15-20%. Daily predictions proved highly accurate for operations planning.
• Amazon Web Services (AWS)coreTechnology or Integration · 28 January 2026KONE and AWS announced a seven-year extension of their strategic collaboration to accelerate AI-powered digital innovation in smart building solutions. The expanded partnership focuses on embedding AI across KONE's global service portfolio, connecting 1.8 million additional devices to the cloud, and deploying advanced machine learning for operational efficiencies aligned with KONE's Rise strategy. The collaboration builds on existing progress including KONE's Digital Platform that already connects over 40% of its global device network of elevators and escalators.
• United Nations Industrial Development Organization (UNIDO)coreStrategic or Co-development Partner · 1 December 2025KONE 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 2,000 suppliers in India. About 87% of KONE's 30,000 global suppliers have signed its Supplier Code of Conduct. The program will be expanded to all 2,000 India suppliers if the pilot succeeds.
• PARAGON DevelopmentscoreChannel Partner/ Reseller/ Distributor · 1 October 2025KONE's partnership with PARAGON Developments in Egypt promotes sustainable, intelligent building systems in the New Administrative Capital project, enhancing accessibility, safety, and energy efficiency in Egypt's urbanization efforts.
• United Elevators (Egypt)coreChannel Partner/ Reseller/ Distributor · 1 August 2025KONE Egypt and United Elevators signed a strategic contract to expand KONE's market reach and customer offerings in Egypt through United Elevators' local distribution and installation capabilities.
• Microsoft (Azure Sentinel)coreTechnology or Integration · 1 June 2025KONE deployed Microsoft Sentinel for enhanced threat detection and security monitoring across its operations, fortifying trust and cybersecurity posture for its digital infrastructure.

Scale indicators39 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Otis Worldwide Corporation: Otis is the world's largest elevator and escalator manufacturer and KONE's closest direct competitor. Both companies offer new equipment, modernization, and service across residential, commercial, and infrastructure segments globally with similar IoT/digital service platforms.
• Schindler Group: Schindler is a Swiss-based global elevator and escalator company competing head-to-head with KONE across new equipment, service, and modernization. Both companies emphasize digital services, predictive maintenance, and sustainability positioning in similar mid-to-high-rise market segments.
• TK Elevator: TK Elevator is being acquired by KONE in a EUR 29.4 billion transaction. Both companies operate identical business models in new equipment, service, and modernization with overlapping geographies, making them the most directly comparable peer in product offering and customer base.
• Fujitec Co., Ltd. Fujitec is a Japanese elevator and escalator manufacturer competing with KONE across new equipment, modernization, and service globally. Both companies offer machine-room-less elevators, high-rise solutions, and IoT-enabled service platforms targeting similar commercial and infrastructure customers.
• Hyundai Elevator Co., Ltd. Hyundai Elevator is a South Korean elevator and escalator manufacturer competing directly with KONE in new equipment, service, and modernization. Both companies target residential, commercial, and infrastructure segments with comparable product portfolios and IoT-enabled service offerings.
• Toshiba Elevator and Building Systems Corporation: Toshiba Elevator is a Japanese manufacturer of elevators, escalators, and building automation systems competing with KONE across new equipment and service. Both companies emphasize high-rise solutions, energy efficiency, and IoT-enabled maintenance platforms in Asian and global markets.

Broad incumbents

• Mitsubishi Electric Corporation: Mitsubishi Electric operates one of the world's largest elevator divisions as part of its broader electrical equipment portfolio. It competes directly with KONE in new equipment, modernization, and service across Asia and globally with comparable IoT-enabled product lines.
• Hitachi, Ltd. Hitachi operates a major elevator business (Hitachi Elevator) as part of its diversified industrial portfolio. It competes with KONE in Asian and global markets across new equipment, service, and modernization with significant scale in China through its joint venture structure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks4 records

Key highlights7 records

Customer concentration

• Xx.com/KONECorporation

Compliance11 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about KONE