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Europe Smart Elevators And Escalators Market: By Type Application and Country
Europe Smart Elevators And Escalators Market: By Type Application and Country
Europe Smart Elevators And Escalators Market was valued at US$ 5,636.5 million in 2023 and is anticipated to grow at a CAGR of 4.0% over 2024-2030. Europe smart elevators and escalators market is expected to expand at a robust CAGR due to the adoption and implementation of advanced technologies and smart solutions in the vertical transportation systems industry. Smart elevators and escalators use cutting-edge technologies such as IoT (Internet of Things), artificial intelligence, machine learning, and cloud computing to enhance the efficiency, safety, and convenience of vertical transportation in buildings. Rising Urbanization and High-Rise Buildings is expected to drive the European smart elevators and escalators market. The urbanization trend in major cities of Germany, Austria, and Switzerland has led to the construction of high-rise buildings, which require efficient and reliable vertical transportation systems. Smart elevators and escalators with features such as destination control, predictive maintenance, and touchless operation cater to the needs of modern urban buildings.
Moreover, rising number of elderly populations also enhance the growth of escalators and elevators in apartments or residential buildings. Smart elevators and escalators with features such as priority access for elderly and disabled individuals are in demand to ensure convenience and safety. Furthermore, integration of internet of things (IoT) technology is a significant trend in smart elevators and escalators where these systems are equipped with sensors and connected to the internet, enabling real-time monitoring, data analysis, and predictive maintenance. On the top of that, rising investments and smart city initiatives present significant opportunities for the growth of europe smart elevators and escalators market. However, the high installation and implementation cost of smart elevators and escalators acts as a barrier to the smart elevators and escalators market in Germany, Austria, and Switzerland. Several key market players are announcing collaborations, acquisitions and launches to fulfil the rising demand for smart elevators and escalators in buildings and constructions. For instance, in March 2020, Schindler introduced a modular lift generation that is equipped with cutting-edge technologies such as touchless technology, improved connection, and extra digital services.
The rising technological advancements in developing smart escalators and elevators are expected to fuel the expansion of Germany, Austria, Switzerland smart elevators and escalators market. Adoption of cutting-edge technologies i.e., IoT, artificial intelligence, machine learning, and cloud computing capabilities are in high demand due to their improved efficiency, performance, and passenger experience. Moreover, the need for enhanced security in public places and commercial buildings is expected to boost the demand for smart elevators and escalators with advanced security features such as access control systems, facial recognition, and real-time monitoring. Furthermore, smart elevators and escalators offer features like destination control, predictive maintenance, touchless operation, and personalized services, enhancing the overall passenger experience and convenience.
Europe smart elevators and escalators market has been segregated into Germany, Austria, and Switzerland. Germany is anticipated to dominate the smart elevators and escalators market in the forecasting years, driven by factors such as rapid urbanization, infrastructure development, and the need for energy-efficient transportation. Moreover, stringent government regulations, rising focus on sustainability and safety in Germany have also fuelled the development of smart elevators and escalators market. The Austria smart elevators and escalators market is also showing significant growth owing to the increased urbanization particularly in major cities like Vienna, Graz, and Linz. Furthermore, Austria is a popular tourist destination, particularly for its rich cultural heritage and scenic landscapes. The hospitality and tourism sectors are key end-users of smart elevators and escalators in hotels, airports, and tourist attractions to enhance guest experience and mobility, which further accelerate the smart elevators and escalators market.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Market Size in 2023 |
US$ 5,636.5 million |
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By Type |
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By Application |
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By Country |
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The Europe Smart Elevators And Escalators Market size was valued at US$ 5,636.5 million in 2023
Technological advancement, rapid urbanization and infrastructure development are some of the factors that create potential opportunities for the growth of the Germany, Austria, Switzerland smart elevators and escalators market.
The touchless technology and integration of IoT, artificial intelligence, and cloud-based solutions are some of the major trends in the Germany, Austria, Switzerland smart elevators and escalators market.
Schindler Group, ThyssenKrupp AG, Motion Control Engineering, Otis Elevator Company, Johnson Controls Inc., HONEYWELL, Cisco Systems, Inc, Kone Corporation are a few companies operating in Germany, Austria, Switzerland smart elevators and escalators market.
| 1.Executive Summary |
| 2. Europe Smart Elevators And Escalators Market Introduction |
| 2.1. Europe Smart Elevators And Escalators Market - Taxonomy |
| 2.2. Europe Smart Elevators And Escalators Market - Definitions |
| 2.2.1.Type |
| 2.2.2.Application |
| 2.2.3.Country |
| 3. Europe Smart Elevators And Escalators Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4. Europe Smart Elevators And Escalators Market Analysis, 2019 - 2023 and Forecast 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5. Europe Smart Elevators And Escalators Market By Type, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 5.1. Escalator |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Elevator |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 6. Europe Smart Elevators And Escalators Market By Application, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 6.1. Parking building |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Hospital |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Transportation |
| 6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Residential |
| 6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 6.5. Retail |
| 6.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.5.3. Market Opportunity Analysis |
| 6.6. Hotels |
| 6.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.6.3. Market Opportunity Analysis |
| 6.7. Commercial |
| 6.7.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.7.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.7.3. Market Opportunity Analysis |
| 7. Europe Smart Elevators And Escalators Market By Country, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 7.1. Germany |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. France |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Italy |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. United Kingdom (UK) |
| 7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Spain |
| 7.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 8.Germany Smart Elevators And Escalators Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 8.1. Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.1.1.Escalator |
| 8.1.2.Elevator |
| 8.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.2.1.Parking building |
| 8.2.2.Hospital |
| 8.2.3.Transportation |
| 8.2.4.Residential |
| 8.2.5.Retail |
| 8.2.6.Hotels |
| 8.2.7.Commercial |
| 9.France Smart Elevators And Escalators Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 9.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1.Escalator |
| 9.1.2.Elevator |
| 9.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1.Parking building |
| 9.2.2.Hospital |
| 9.2.3.Transportation |
| 9.2.4.Residential |
| 9.2.5.Retail |
| 9.2.6.Hotels |
| 9.2.7.Commercial |
| 10.Italy Smart Elevators And Escalators Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 10.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Escalator |
| 10.1.2.Elevator |
| 10.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.Parking building |
| 10.2.2.Hospital |
| 10.2.3.Transportation |
| 10.2.4.Residential |
| 10.2.5.Retail |
| 10.2.6.Hotels |
| 10.2.7.Commercial |
| 11.United Kingdom (UK) Smart Elevators And Escalators Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 11.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Escalator |
| 11.1.2.Elevator |
| 11.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Parking building |
| 11.2.2.Hospital |
| 11.2.3.Transportation |
| 11.2.4.Residential |
| 11.2.5.Retail |
| 11.2.6.Hotels |
| 11.2.7.Commercial |
| 12.Spain Smart Elevators And Escalators Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 12.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Escalator |
| 12.1.2.Elevator |
| 12.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Parking building |
| 12.2.2.Hospital |
| 12.2.3.Transportation |
| 12.2.4.Residential |
| 12.2.5.Retail |
| 12.2.6.Hotels |
| 12.2.7.Commercial |
| 13. Competition Landscape |
| 13.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 13.2.1.Schindler Group |
| 13.2.2.ThyssenKrupp AG |
| 13.2.3.Motion Control Engineering |
| 13.2.4.Otis Elevator Company |
| 13.2.5.Johnson Controls Inc. |
| 13.2.6.HONEYWELL |
| 13.2.7.Cisco Systems, Inc |
| 13.2.8.Kone Corporation |
| 14. Research Methodology |
| 15. Appendix and Abbreviations |
Key Market Players
Author
Sravani is a proficient Business Analyst with an MBA and a background in Computer Science, with seven years of experience in the field of market research. Sravani is adept at creating competitive evaluations, precise market estimations, and market projections, emphasizing the food and beverage and information and communication technology (ICT) industries. Her areas of competence are identifying important players, projecting market trends, and assessing the potential for industry growth. She applies a strong analytical approach to provide precise market estimates and thorough industry analysis, empowering organizations to make data-driven decisions. Sravani's estimating and forecasting abilities are essential for businesses to take advantage of new opportunities and effectively manage dynamic market environments.