KONE Corporation, headquartered in Espoo, Finland, is a global leader in elevator and escalator manufacturing, installation, and maintenance. Founded in 1910, KONE has grown into one of the most influential companies in its industry, serving urban environments worldwide. With a market capitalization of over $35 billion (2025), KONE is synonymous with innovation, sustainability, and reliability in vertical mobility solutions.
History and Milestones
KONE started as a small machine repair shop in Helsinki and gradually evolved into a global elevator and escalator powerhouse. Its name, meaning “machine” in Finnish, reflects its engineering roots.
Key milestones include:
1910: KONE founded by Harald Herlin.
1924: Acquired the license to manufacture elevators.
1974: Global expansion begins with the acquisition of elevator companies in Europe.
1996: Introduction of the first machine-room-less elevator, the KONE MonoSpace.
2021: Launched KONE DX Class, the first digitally connected elevators.
Products and Services
KONE offers a wide range of solutions for urban mobility:
Elevators: Advanced models, including energy-efficient and high-speed options.
Escalators and autowalks: Designed for high-traffic environments like airports and malls.
Maintenance services: Predictive maintenance through AI and IoT integration.
Modernization: Upgrading older systems to enhance safety, performance, and energy efficiency.
Business Model
KONE’s business model focuses on providing end-to-end solutions for urban mobility:
Innovation-driven: Heavy investment in R&D to develop cutting-edge solutions.
Service-oriented: Long-term maintenance contracts are a major revenue stream.
Global presence: Operations in over 60 countries, serving customers on every continent.
Impact on the Nordics and Global Markets
KONE’s influence extends far beyond Finland:
Urbanization enabler: Facilitating the development of smart cities with efficient mobility systems.
Economic impact: A major Finnish employer and a driver of export revenues.
Industry leadership: Setting global standards in elevator and escalator design and safety.
Sustainability Initiatives
KONE is committed to reducing its environmental impact and supporting sustainable urban development:
Energy efficiency: Its elevators are designed to consume 90% less energy compared to older models.
Carbon neutrality: Achieved carbon neutrality in its operations in 2022.
Circularity: Focused on recycling materials and minimizing waste during production.
KONE exemplifies Finnish innovation and global leadership in vertical mobility. By combining cutting-edge technology, sustainability, and customer-centric solutions, KONE plays a vital role in shaping the future of urban living and mobility.
Read more on Kone.com
