The global home elevators market is expected to reach $10,915.52 million by 2028, growing at a CAGR of 7.62%. Elevators are flexible and easy to use, take less time, and make transporting big and bulky items easier. They also benefit children and older people who face difficulties while climbing stairs. An elevator installed in a residential area provides convenience and luxury. Home elevators have various appealing features, such as safety, emergency light and alarm, slack chain, battery backup, hoistway and door interlocks, emergency stop switch, and upper landing hatch cover with safety sensors, etc., which can be offered to a potential buyer as a benefit.