Lift life expectancy is dependent on (1) age, (2) maintenance, and (3) usage.
Below is a small sample (from various sources) of the frequently made commentary on the life expectancy of a lift. I live in a 1970s building with an old lift. Some of the comments are sobering:
How long elevator equipment should last
“A common rule of thumb in the industry is an elevator older than 20 years is a probable candidate for modernization.”
“Equipment from the 1970s generally had a life span of 25-30 years and lifts from the 60s even longer.”
“The refurbishment of a robust lift may even give you 25-30 years’ service with the potential to refurbish again after that time.”
“After 20 to 25 years of service elevators will reach the end of their cost effective lives. During this period the building may experience decreasing performance along with a increase in service calls. These indicators are clear signs of potential problems and slipping reliability.”
“Remember, it is better to plan for major works to the lift, rather than fire fight as components fail.”
“An independent survey report is the most cost effective way to check on the current condition, future life span and potential expenditure over the short, medium or long term.”