Global Elevator and Escalator Market Report Description:
Global elevator and escalator market report gives comprehensive outlook on elevator and escalator across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The report on global elevator and escalator market gives historical, current, and future market sizes (US$ Mn) on the basis of type, service, end user and region. This report studies global elevator and escalator market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global elevator and escalator market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global elevator and escalator market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the global elevator and escalator market report include suppliers, manufacturers, marketers, policy makers, and service providers engaged in global elevator and escalator products.
Global Elevator and Escalator Market:
The global elevator and escalator market valued US XX Mn in 2019 and is poised to grow with a CAGR of XX% over 2020-2026. Improvements in construction industry, rapid urbanization and industrialization across developing countries, increased focus on reducing overall energy consumption levels, awareness about the need for energy-efficient residential elevators, proactive maintenance & modernization of equipment, increasing shift towards environmentally friendly products and rising investment in commercial and residential infrastructure are some key factors fostering the market growth. However, factors such as uncertainty & risk around global economy, compliance with standards and regulations and high maintenance costs are inhibiting the market growth. In addition, development of advanced technologies and adoption of green building codes and energy-efficient products provides huge growth opportunity for the market.
Elevators Accounts for Larger Market Revenue Share in Global Elevator and Escalator Market
Elevators segment accounted for larger revenue share in global elevator and escalator market with a CAGR of XX% and is expected to grow over the forecast years. Elevators or lifts are vertical transportation compartments housed in a shaft or platform for lowering and raising people or materials between floors or levels. Presence of elevators in the market has left unlimited scope for architects and construction houses to create buildings. They are generally motivated by electric motors that power counterbalance systems and traction cables or pump hydraulic fluid to elevate a cylindrical system. Majority of the multistoried buildings have lifts in order to allow ease of travel and wheelchair access laws. Ever-growing need for high-rise accommodation to deal with growing population will continue to drive the elevator segment.
Europe Accounts for Larger Market Revenue Share in Global Elevator and Escalator Market
Europe accounted for larger revenue share in global elevator and escalator market with a CAGR of XX% and is expected to grow over the forecast years. The increasing number of high-rise buildings in countries such as Germany that drive the growth of the construction industry and the growing popularity of smart elevators will be major factors driving the growth of the lift and escalator market in this region. Asia Pacific held substantial market share during estimated period owing to increasing demand from the key economies and emerging areas, such as India and South East Asia. China has significantly contributed to the growth of the market revenue and holds the major market share.
Key player’s profiles in the global elevator and escalator market include:
- Fujitec Co. Ltd.
- Hitachi, Ltd.
- Hyundai Elevator Co., Ltd.
- KONE Oyj
- Mitsubishi Electric Corporation
- Orona Group
- Otis Elevator Company
- Schindler Group
- ThyssenKrupp AG
- Toshiba Corporation
Global elevator and escalator market is surging owing to strategic alliances by key players for elevator and escalator to meet the demands of the customers in the market. For instance, In 2018, KONE acquired the service and repair business of Heartland Elevator LLC. This is further
expected to strengthen the domestic operations of KONE in the Dallas Metropolitan area.
Key Findings of the Report:
- Global elevator and escalator market expanding at significant CAGR over 2020 to 2026 owing to awareness about the need for energy-efficient residential elevators
- Based on region, Europe accounted for larger market revenue share in 2019 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position in global elevator and escalator market
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2015-2019) and forecast (2020-2026)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
- Elevators (passenger, freight, single, and double deck elevators)
- Moving walkways
- New installation
- Maintenance & repair
By End User
- Others (industrial and marine industry)
- North America
- Rest of Europe
- Au & NZ
- Rest of Europe
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of MEA