Elevators and Escalators Market: Summary
The Global Elevators And Escalators Market is estimated to reach USD 135.3 Billion by 2024 at a CAGR of 6.5%.
Elevators is a platform which is mainly used to transit people vertically within the floors and level across the building. Whereas, Escalators can be referred as the mode of transporting people through moving staircase within the building. These are useful in the residential and commercial builds to transit higher count of population at a time. These offers ease in transporting people especially aged population across the building at a faster speed. In industries, these are mainly dedicated to transport the loads and commodities within the warehouse or industrial plant.
Elevators And Escalators Market: Drivers & Restraints
- Increasing Construction of High Rise Buildings
The concept of high rise building and skyscrapers emerged successfully mainly owing to development of newer construction material and elevators, which helps to transit people onboard across the building. Overcrowded cities with busier lifestyle, has given birth to the high rise buildings, which possess higher ability to shelter people. Due to this, advantages, it is used for residential and commercial purpose. The construction of the tall and high rise building as escalating at a rapid pace, which is the prominent factor driving the market growth. As per the data shared by the Council on Tall Buildings and Urban Habitat (CTBUH), the count of the building above height of 200 meters worldwide has been increased 12.3% in 2017, when compared to 2016, whereas, the building above 300 meters has shown a growth of 66% in 2017 from 2013.
- Rise in Focus On the Modernizing the Commercial Infrastructure
With the world getting more advanced, there exist higher need for more efficient and advanced technologies. While considering commercial infrastructure, higher focus towards revamping and modernizing in order to provide higher benefits to the public. Also, increasing installation of the escalators in the high traffic areas such as railway stations and metro station, for carrying more population in a single transit, is further pushing the market growth. Increasing projects for modernizing the railways, metro and airports especially in developing economies such as India, is further pushing the market growth uphill.
- High Repair and Maintenance Cost
With excessive usage of elevators in high traffic commercial spaces and moderate to high usage in residential buildings, there exist the maintenance at regular intervals. The maintenance and repair cost may or may not be related to the elevator failure, but it is often done in order to promote smooth working of the lift. The average cost dedicated for maintenance cost ranges from USD 170 to USD 2000, however, this cost rises in case of emergency. Also, the average Repair and Maintenance Cost for the elevators and escalators installed in the high rise building is higher than that of the low rise buildings.
Elevators And Escalators Market: Key Segments
This market research report offers a comprehensive analysis of key market trends in the global Elevators and escalators market. It includes detailed discussion on historical market trends, current market dynamics, consumer landscape, growth opportunities and challenges backed by tactful feedbacks.
- By Elevators, the market is segmented into: Hydraulic Elevators, Traction Elevators, Climbing Elevators, Pneumatic Elevator and Electromagnetic Propulsion Elevators
- By Escalator, the market is segmented into: Step Type Escalator, Wheelchair escalator, Spiral Escalator, and Levytator
- By Escalator, the market is segmented into: Residential Apartment, Commercial Complexes, and Industrial Building and Infrastructure
- Key Regions Covered: North America, South America, Europe, Asia-Pacific, Middle East & Africa and South America, with individual country-level analysis.
Elevators And Escalators Market: Report Scope
The report on the Elevators and escalators market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Historical/Estimated/Forecasted Market Size Years
Base Year for Market Calculation
2019-2024 (2019 estimated year, forecasted up to 2024)
Value (USD Million) Volume (Thousand Units)
Elevator, Escalator, Application
Asia-Pacific, North America, Europe, Middle East & Africa and South America
Key Companies Covered
- Mitsubishi Electric Corporation (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- Schindler Group
- Thyssenkrupp AG
- Otis Elevator Company
- ABB Ltd.
- Hitachi Ltd.
- KONE Corporation
- Fujitec Co., Ltd.
- Cibes Lift Group AB
- Toshiba Elevators
- Other Key Companies
Elevators And Escalators Market: Report Segmentation
For the scope of report, In-depth segmentation is offered by Forencis Research
Elevators and Escalators Market, by Elevators
- Hydraulic Elevators
- Traction Elevators
- Geared Traction Elevators
- Gearless Traction Elevators
- Climbing Elevators
- Pneumatic Elevator
- Electromagnetic Propulsion Elevators
Elevators and Escalators Market, by Escalator
- Step Type Escalator
- Wheelchair escalator
- Spiral Escalator
Elevators and Escalators Market, by Application
- Residential Apartment
- Commercial Complexes
- Railways and Metro Stations
- Commercial Buildings
- Industrial Building and Infrastructure
- Manufacturing Facility
Elevators and Escalators Market, by Region
- South Korea
- Rest of Asia-Pacific
- North America
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Rest of South America
Key Questions answered by the report
- What are the major developments impacting the global market and its growth?
- What will be the effects of the developments in the global market on the industry and on the market players in the near and far future?
- What are the evolving types of the global market?
- What are the evolving applications of global market?
- What are the major characteristics that will affect the global market growth during the study period?
- Who are the key global players operating in the market?
- How are the major players leveraging in the existing global market conditions?
- Elevators and Escalators Market Providers
- Elevators and Escalators Market Solution and Services Suppliers, Distributors and Dealers
- End-Users of Varied Segments of Elevators and Escalators Market
- Government Bodies and Intellectual Institutions
- Associations and Industrial Organizations
- Research & Consulting Service Providers
- Research & Development Organizations
- Investment Banks & Private Equity Firms
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE ELEVATORS AND ESCALATORS MARKET STUDY
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.4 Regional Coverage
1.5 Research Timeline
2 RESEARCH DESIGN & SCOPE
2.2 Primary Research
2.2.1 Key Industry Expert Insight
2.3 Secondary Research
2.3.1 Vital Data from Secondary Sources
2.4 Market Size Estimation
2.5 Data Validation & Triangulation
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.2.1. Increase in Construction Projects for High Rise Buildings
4.2.2. Rise in Focus On the Modernizing the Commercial Infrastructure
4.3.1. High Repair and Maintenance Cost
4.4.1. Increasing Penetration of IoT and AI in Elevators and Escalators
5 INDUSTRY TRENDS – PORTERS FIVE FORCES ANALYSIS
5.1.1. Power of Buyers
5.1.2. Power of Suppliers
5.1.3. Intensity of Competition
5.1.4. Challenges of Substitutes
5.1.5. Challenges of New Entrants
5.2 Macro-Economic Indicators
6 ELEVATORS AND ESCALATORS MARKET BY ELEVATORS, Market Size in USD Million and Volume (Thousand Units) (2017—2024)
6.2 Hydraulic Elevators
6.3 Traction Elevators
6.3.1 Geared Traction Elevators
6.3.2 Gearless Traction Elevators
6.4 Climbing Elevators
6.5 Pneumatic Elevator
6.6 Electromagnetic Propulsion Elevators
7 ELEVATORS AND ESCALATORS MARKET BY ESCALATOR, Market Size in USD Million and Volume (Thousand Units) (2017—2024)
7.2 Step Type Escalator
7.3 Wheelchair escalator
7.4 Spiral Escalator
8 ELEVATORS AND ESCALATORS MARKET BY APPLICATION, Market Size in USD Million and Volume (Thousand Units) (2017—2024)
8.2 Residential Apartment
8.3 Commercial Complexes
8.3.2 Railways and Metro Stations
8.3.3 Commercial Buildings
8.4 Industrial Building and Infrastructure
8.4.2 Manufacturing Facility
9 ELEVATORS AND ESCALATORS MARKET BY REGION, Market Size in USD Million and Volume (Thousand Units) (2017—2024)
9.1 North America
8.2.6. The Netherlands
8.2.7. Rest of Europe
8.3.4. South Korea
8.3.6. Rest of Asia-Pacific
9.4 Middle East & Africa
8.4.1. Saudi Arabia
8.4.3. Rest of Middle East & Africa
9.5 South America
8.5.3. Rest of South America
10 COMPETITIVE LANDSCAPE
10.2 Market Ranking/Share Analysis of Key Companies
10.3 Company Benchmarking
11 COMPANY PROFILES
11.1 Mitsubishi Electric Corporation
11.1.1 Company Overview
11.1.2 Financial Overview
11.1.3 Products/Solutions/Services Offered
11.1.4 Key Developments
11.1.5 SWOT Analysis
11.2 Schindler Group
11.3 Thyssenkrupp AG
11.4 Otis Elevator Company
11.5 ABB Ltd.
11.6 Hitachi Ltd.
11.7 KONE Corporation
11.8 Fujitec Co., Ltd.
11.9 Cibes Lift Group AB
11.10 Toshiba Elevators
11.11 Other Key Companies
12.1 Key Industry Expert Insights
12.2 Primary Discussion Guide
12.3 Customization Options
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY