Otis Launches Gen3 MOD EMEA Rollout Targeting Six Million Aging Elevators
OTIS•Otis rolled out Gen3 MOD solutions across EMEA, tapping into six million European elevators, over half older than 25 years, to offer belt system retrofits, IoT predictive maintenance and energy-saving ReGen drives. Flexible Plus and Pro modernization packages are designed to boost installed base service revenue and profitability.
1. Gen3 MOD EMEA Launch
Otis announced the introduction of its Gen3 elevator modernization solutions across Europe, the Middle East and Africa. The new offering is compatible with existing belt-equipped elevators and can transition traditional rope systems to coated steel belts, aiming to extend equipment lifespan while improving performance and reliability.
2. Market Opportunity in Europe
More than six million elevators operate in Europe today, with over half exceeding 25 years of service. Building managers typically evaluate modernization after 15 to 20 years, creating a substantial addressable market for Otis Gen3 MOD solutions.
3. Modernisation Packages and Technology
Otis offers flexible Plus and Pro packages featuring the Otis ONE IoT platform for predictive maintenance, ReGen energy-recapturing drives, oil-free coated steel belts, in-car eView displays and optional Compass 360 dispatching technology to optimize traffic flows.
4. Service Revenue and Efficiency Gains
By upgrading its installed base with digital monitoring and energy-efficient components, Otis aims to drive recurring service revenue growth, improve profit margins and deliver lower operating costs alongside enhanced passenger experience for building owners.
