Did you know that the worldwide elevator market is expected to grow to $132.08 billion by 2029?

Installing a commercial elevator can be an expensive undertaking, and it’s hard to know what factors will affect the cost.

You want to make sure you get the best value for your money, but without knowing all of the details that go into pricing a commercial elevator, it can be difficult to budget correctly.

Thankfully, we have some answers for you! Keep reading because in this article we will discuss all of the factors that determine commercial elevator cost so you can plan accordingly.

What Factors Determine the Commercial Elevator Cost

Many factors may alter the cost of a commercial elevator for your business. Let’s look at them now in more detail:


Building a commercial elevator is not easy. You need to pick materials that are strong and good-looking. People often use steel, aluminum, and glass because they last a long time. The walls of the elevator should be the right balance of strength and light.

For doors and frames, these materials can lend a sleek look while maintaining all necessary safety regulations. No matter which type of construction you choose, the cost of your commercial elevator will ultimately depend on the quality and choice of materials used.


It is important to think about commercial elevator installation when you are trying to save money on your product. Different types of elevators require different levels of work, so you should pick the right one for your building.

The degree of difficulty involved in installing elevators in a building is largely dependent upon its size and height. Typically, larger and taller structures present greater challenges for installation services. In order to ensure that the installation is performed in a correct and safe manner, it is advisable to engage the services of a professional contractor.


The motor is one of the most important parts of an elevator. There are different types of motors for different needs. Low-speed models work better in homes, while high-speed models work better in businesses where there are more people.

Selecting the appropriate motor for your elevator is a crucial aspect of ensuring optimal performance and safety. A well-chosen motor can significantly enhance the functionality of your elevator system. It is important to invest some effort into researching the various types of motors available before making a final decision. The choice of motor can also have cost implications with respect to the overall purchase and installation expenses of the elevator system.


Some features make an elevator more convenient, accessible, and safe. For example, every elevator should have an emergency stop button in case something goes wrong.

Similarly, voice-activated controls and LED lighting can be very helpful when using the elevator. However, these features often come at an extra cost above the base design of most commercial elevators. Whether or not you need these features depends on the type of environment in which the elevator will be used.


Maintenance is often overlooked when considering a commercial elevator purchase but can be extremely important in ensuring longevity and reliability. Maintenance measures such as regular inspections, lubrication of moving parts, and other required maintenance should not be dismissed or underestimated.

Failing to account for maintenance costs in your budget could lead to costly repairs in the future. Hiring an experienced professional for regular inspections and maintenance can pay off in the long run by increasing the value of your purchase. Therefore, do your research and make sure to properly budget for maintenance when purchasing a commercial elevator.

Building Codes

Installing an elevator in your business can be helpful and convenient, but you need to make sure you follow the local rules. Building codes vary from city to city, so it pays off to do some research before purchasing an elevator.

Sometimes meeting the standards set by the government can be expensive. It is cheaper to do things the right way from the beginning. Although these codes may initially seem like a nuisance, they exist for a good reason – ensuring the safety of anyone who might use the elevator. Overall, knowing and complying with your local building codes is essential for keeping everyone safe.


Customizing a commercial elevator is an investment in convenience, efficiency, and aesthetics. Working with highly experienced professionals can help you create the exact look and functionality that you need for your space.

There are new safety features available, like voice commands. This means you can have an elevator that meets all the latest accessibility requirements. It takes some time and planning to do this right, but it’s worth it. A custom elevator can add value to your commercial building that will last for years.

This means that investing in an elevator system for your building is a worthwhile endeavor. Whether it’s a low- or high-speed model, the proper motor and features should be chosen for both safety and convenience.

Want Professional Help to Install an Elevator?

Commercial elevator costs can be expensive for a business but understanding the factors that determine their cost and taking the time to find the best possible supplier can enable you to get the most value out of your purchase.

Murphy Elevator Company has created gorgeous, useful elevators for many different-styled buildings. From commercial elevators to industrial ones, we consider all your building’s specific needs and work with you to design an elevator system that will wow users and performs its duties for years to come.

Contact us now to find out more about how we can help!

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