Global Elevator and Escalator Market, By Type (Elevators, Escalator and Moving Walkways), Service (New installation, Maintenance and repair and Modernization), Technology (Elevator Technology), End use Industry (Residential, Commercial, Institutional, Infrastructure and Others), and Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights: Global Elevator and Escalator Market
The elevators and escalators market is expected to witness market growth at a rate of 6.50% in the forecast period of 2021 to 2028 and is expected to reach USD 2,365.31 million by 2028. Data Bridge Market Research report on elevators and escalators market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The rise in the focus on reducing overall energy consumption levels is escalating the growth of elevators and escalators market.
An elevator can be referred to as a closed cabin that is driven by the electric motors that both drive counterweight systems, traction cables, or pump hydraulic fluid to raise a cylindrical piston. An escalator can be known as a conveyor transport device or moving staircase that is utilized for carrying people between floors of a building.
Major factors that are expected to boost the growth of the elevators and escalators market in the forecast period are the rise in the urbanization. Furthermore, the enhancements in the construction industry is further anticipated to propel the growth of the elevators and escalators market. Moreover, the shift in the demographic trends is further estimated to cushion the growth of the elevators and escalators market. On the other hand, the ambiguity and risk around the economy worldwide is further projected to impede the growth of the elevators and escalators market in the timeline period.
- In addition, the rise in the acceptance of green building codes and energy-efficient products will further provide potential opportunities for the growth of the elevators and escalators market in the coming years. However, the agreement with standards and guidelines might further challenge the growth of the elevators and escalators market in the near future.
This elevators and escalators market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on elevators and escalators market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Elevator and Escalator Market Scope and Market Size
The elevators and escalators market is segmented on the basis of type, service, technology and end use industry. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, the elevators and escalators market has been segmented into elevators, escalator and moving walkways. Elevators are further sub segmented into passenger, freight, single, and double deck elevators.
- On the basis of service, the elevators and escalators market has been segmented into new installation, maintenance and repair and modernization.
- On the basis of technology, the elevators and escalators market has been segmented into elevator technology. Elevator technology is further sub segmented into traction with a room, machine room less traction ad hydraulic.
- On the basis of end use industry, the elevators and escalators market has been segmented into residential, commercial, institutional, infrastructure and others. Others is further sub segmented into industrial and marine industry.
Elevator and Escalator Market Country Level Analysis
The elevators and escalators market is analysed and market size, volume information is provided by country, service, technology and end use industry as referenced above.
The countries covered in the elevators and escalators market report are the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Asia-Pacific dominates the elevators and escalators market due to the development of the residential, commercial, institutional, and infrastructure industries. Furthermore, the increase in the population and economic development will further boost the growth of the elevators and escalators market in the region during the forecast period. Europe is projected to observe significant amount of growth in the elevators and escalators market due to the rise in the commercial and residential construction activities. Moreover, the occurrence of major key players is further anticipated to elevators and escalators market in the region in the coming years.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Elevator and Escalator Market Share Analysis
The elevators and escalators market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to elevators and escalators market.
The major players covered in the elevators and escalators market report are KONE Corporation, United Technologies Corporation, Schindler, Mitsubishi Electric Corporation, ThyssenKrupp AG, FUJITEC CO., LTD., Hitachi Ltd., HYUNDAIELEVATOR CO., LTD., TOSHIBA INDIA, Electra Ltd., Orona, EXPRESS LIFTS LTD., ESCON ELEVATORS PVT LTD., Otis Worldwide Corporation, EITA Elevator (M) Sdn. Bhd., Johnson Elevator Co., Ltd., and Electra Elevators, among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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