Global Elevator Modernization Market 2022-2032 by Modernization Type (Partial, Full), Elevator Type (Hydraulic, Traction), Component, Application (Industrial, Residential, Commercial), and Region: Trend Forecast and Growth Opportunity

October 2023 | 170 pages | ID: G15090275349EN
GMD Research

Abstracts

Global elevator modernization market will reach $17.69 billion by 2032, growing by 6.1% annually over 2022-2032, driven by the growing number of aged buildings, the rising demand for elevator renovation, and continued expansion of construction industry.

Highlighted with 86 tables and 81 figures, this 170-page report “Global Elevator Modernization Market 2022-2032 by Modernization Type (Partial, Full), Elevator Type (Hydraulic, Traction), Component, Application (Industrial, Residential, Commercial), and Region: Trend Forecast and Growth Opportunity” is based on comprehensive research of the entire global elevator modernization market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. The report is based on studies on 2020-2022 and provides forecast from 2023 till 2032 with 2022 as the base year. (Please note: The report will be updated before delivery so that the latest historical year is the base year, and the forecast covers at least 5 years over the base year.)

In-depth qualitative analyses include identification and investigation of the following aspects:

• Market Structure
• Growth Drivers
• Restraints and Challenges
• Emerging Product Trends & Market Opportunities
• Porter’s Fiver Forces

The trend and outlook of global market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19 and Russia-Ukraine conflict. The balanced (most likely) projection is used to quantify global elevator modernization market in every aspect of the classification from perspectives of Modernization Type, Elevator Type, Component, Application, and Region.

Based on Modernization Type, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2022-2032 included in each section.

• Full Modernization
• Partial Modernization

Based on Elevator Type, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2022-2032 included in each section.

• Hydraulic Elevators
• Conventional Hydraulic Elevators
• Hole-less Hydraulic Elevators
• Roped Hydraulic Elevators
• Traction Elevators
• Geared Traction Elevators
• Gear-less Traction Elevators
• Machine Room-Less Elevators
• Climbing Elevators
• Pneumatic/Vacuum Elevators

By Component, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2022-2032 included in each section.

• Power Units
• Cabin Enclosures
• Controllers
• Relay-based
• Solid-state
• PLC
• Signaling Fixtures
• Door Equipment
• Other Components

By Application, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2022-2032 included in each section.

• Industrial Application
• Residential Application
• Commercial Application

Geographically, the following regions together with the listed national/local markets are fully investigated:

• North America (U.S., Canada, and Mexico)
• Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Netherlands, Switzerland, Poland, Sweden, Belgium, Austria, Ireland, Norway, Denmark, and Finland)
• APAC (Japan, China, South Korea, Australia, India, and Rest of APAC; Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, Taiwan, and Philippines)
• South America (Brazil, Chile, Argentina, Rest of South America)
• MEA (UAE, Saudi Arabia, Egypt, and Rest of MEA)

For each region and country, detailed analysis and data of annual revenue ($ mn) are available for 2022-2032. The breakdown of all regional markets by country and the breakdown of each national market by Elevator Type, Component, and Application over the forecast years are also included.

The report also covers the current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players.

Selected Key Players:

Doppler S.A.

Fujitec Co., Ltd.

Hitachi, Ltd.

Hyundai Elevator Co., Ltd.

Johnson Lifts Private Ltd.

KONE Corporation

Magnetek, Inc.

Mitsubishi Electric Corporation

Otis Elevator Company

Richmond Elevator (REM)

Schindler Holding Ltd.

Sematic S.p.A

Siemens AG

ThyssenKrupp Elevator AG

Toshiba Elevator and Building Systems Corporation (TOSHIBA)

United Technologies Corporation

Wittur Group

(Please note: The report will be updated before delivery so that the latest historical year is the base year, and the forecast covers at least 5 years over the base year.)

Contents

1 INTRODUCTION

1.1 Industry Definition and Research Scope
  1.1.1 Industry Definition
  1.1.2 Research Scope
1.2 Research Methodology
  1.2.1 Overview of Market Research Methodology
  1.2.2 Market Assumption
  1.2.3 Secondary Data
  1.2.4 Primary Data
  1.2.5 Data Filtration and Model Design
  1.2.6 Market Size/Share Estimation
  1.2.7 Research Limitations
1.3 Executive Summary

2 MARKET OVERVIEW AND DYNAMICS

2.1 Market Size and Forecast
  2.1.1 Impact of COVID-19 on World Economy
  2.1.2 Impact of COVID-19 on the Market
  2.1.3 Impact of Russia-Ukraine Conflict: War Slows Economic Recovery
2.2 Major Growth Drivers
2.3 Market Restraints and Challenges
2.4 Emerging Opportunities and Market Trends
2.5 Porter’s Fiver Forces Analysis

3 SEGMENTATION OF GLOBAL MARKET BY MODERNIZATION TYPE

3.1 Market Overview by Modernization Type
3.2 Full Modernization
3.3 Partial Modernization

4 SEGMENTATION OF GLOBAL MARKET BY ELEVATOR TYPE

4.1 Market Overview by Elevator Type
4.2 Hydraulic Elevators
  4.2.1 Conventional Hydraulic Elevators
  4.2.2 Hole-less Hydraulic Elevators
  4.2.3 Roped Hydraulic Elevators
4.3 Traction Elevators
  4.3.1 Geared Traction Elevators
  4.3.2 Gear-less Traction Elevators
  4.3.3 Machine Room-Less Elevators
4.4 Climbing Elevators
4.5 Pneumatic/Vacuum Elevators

5 SEGMENTATION OF GLOBAL MARKET BY COMPONENT

5.1 Market Overview by Component
5.2 Power Units
5.3 Cabin Enclosures
5.4 Controllers
5.5 Signaling Fixtures
5.6 Door Equipment
5.7 Other Components

6 SEGMENTATION OF GLOBAL MARKET BY APPLICATION

6.1 Market Overview by Application
6.2 Industrial Application
6.3 Residential Application
6.4 Commercial Application

7 SEGMENTATION OF GLOBAL MARKET BY REGION

7.1 Geographic Market Overview 2022-2032
7.2 North America Market 2022-2032 by Country
  7.2.1 Overview of North America Market
  7.2.2 U.S.
  7.2.3 Canada
  7.2.4 Mexico
7.3 European Market 2022-2032 by Country
  7.3.1 Overview of European Market
  7.3.2 Germany
  7.3.3 UK
  7.3.4 France
  7.3.5 Spain
  7.3.6 Italy
  7.3.7 Russia
  7.3.8 Rest of European Market
7.4 Asia-Pacific Market 2022-2032 by Country
  7.4.1 Overview of Asia-Pacific Market
  7.4.2 Japan
  7.4.3 China
  7.4.4 Australia
  7.4.5 India
  7.4.6 South Korea
  7.4.7 Rest of APAC Region
7.5 South America Market 2022-2032 by Country
  7.5.1 Argentina
  7.5.2 Brazil
  7.5.3 Chile
  7.5.4 Rest of South America Market
7.6 MEA Market 2022-2032 by Country
  7.6.1 UAE
  7.6.2 Saudi Arabia
  7.6.3 Egypt
  7.6.4 Other National Markets

8 COMPETITIVE LANDSCAPE

8.1 Overview of Key Vendors
8.2 New Product Launch, Partnership, Investment, and M&A
8.3 Company Profiles
Doppler S.A.
Fujitec Co., Ltd.
Hitachi, Ltd.
Hyundai Elevator Co., Ltd.
Johnson Lifts Private Ltd.
KONE Corporation
Magnetek, Inc.
Mitsubishi Electric Corporation
Otis Elevator Company
Richmond Elevator (REM)
Schindler Holding Ltd.
Sematic S.p.A
Siemens AG
ThyssenKrupp Elevator AG
Toshiba Elevator and Building Systems Corporation (TOSHIBA)
United Technologies Corporation
Wittur Group

9 INVESTING IN GLOBAL MARKET: RISK ASSESSMENT AND MANAGEMENT

9.1 Risk Evaluation of Global Market
9.2 Critical Success Factors (CSFs)
Related Reports and Products

List Of Tables

LIST OF TABLES

Table 1. Snapshot of Global Elevator Modernization Market in Balanced Perspective, 2022-2032
Table 2. World Economic Outlook, 2021-2031
Table 3. World Economic Outlook, 2021-2023
Table 4. Scenarios for Economic Impact of Ukraine Crisis
Table 5. Main Product Trends and Market Opportunities in Global Elevator Modernization Market
Table 6. Global Elevator Modernization Market by Modernization Type, 2022-2032, $ mn
Table 7. Global Elevator Modernization Market by Elevator Type, 2022-2032, $ mn
Table 8. Global Elevator Modernization Market: Hydraulic Elevators by Elevator Type, 2022-2032, $ mn
Table 9. Global Elevator Modernization Market: Traction Elevators by Elevator Type, 2022-2032, $ mn
Table 10. Global Elevator Modernization Market by Component, 2022-2032, $ mn
Table 11. Global Elevator Modernization Market: Controllers by Type, 2022-2032, $ mn
Table 12. Global Elevator Modernization Market by Application, 2022-2032, $ mn
Table 13. Global Elevator Modernization Market by Region, 2022-2032, $ mn
Table 14. Leading National Elevator Modernization Market, 2022 and 2032, $ mn
Table 15. North America Elevator Modernization Market by Country, 2022-2032, $ mn
Table 16. U.S. Elevator Modernization Market by Elevator Type, 2022-2032, $ mn
Table 17. U.S. Elevator Modernization Market by Component, 2022-2032, $ mn
Table 18. U.S. Elevator Modernization Market by Application, 2022-2032, $ mn
Table 19. Canada Elevator Modernization Market by Elevator Type, 2022-2032, $ mn
Table 20. Canada Elevator Modernization Market by Component, 2022-2032, $ mn
Table 21. Canada Elevator Modernization Market by Application, 2022-2032, $ mn
Table 22. Mexico Elevator Modernization Market by Elevator Type, 2022-2032, $ mn
Table 23. Mexico Elevator Modernization Market by Component, 2022-2032, $ mn
Table 24. Mexico Elevator Modernization Market by Application, 2022-2032, $ mn
Table 25. Europe Elevator Modernization Market by Country, 2022-2032, $ mn
Table 26. Germany Elevator Modernization Market by Elevator Type, 2022-2032, $ mn
Table 27. Germany Elevator Modernization Market by Component, 2022-2032, $ mn
Table 28. Germany Elevator Modernization Market by Application, 2022-2032, $ mn
Table 29. UK Elevator Modernization Market by Elevator Type, 2022-2032, $ mn
Table 30. UK Elevator Modernization Market by Component, 2022-2032, $ mn
Table 31. UK Elevator Modernization Market by Application, 2022-2032, $ mn
Table 32. France Elevator Modernization Market by Elevator Type, 2022-2032, $ mn
Table 33. France Elevator Modernization Market by Component, 2022-2032, $ mn
Table 34. France Elevator Modernization Market by Application, 2022-2032, $ mn
Table 35. Spain Elevator Modernization Market by Elevator Type, 2022-2032, $ mn
Table 36. Spain Elevator Modernization Market by Component, 2022-2032, $ mn
Table 37. Spain Elevator Modernization Market by Application, 2022-2032, $ mn
Table 38. Italy Elevator Modernization Market by Elevator Type, 2022-2032, $ mn
Table 39. Italy Elevator Modernization Market by Component, 2022-2032, $ mn
Table 40. Italy Elevator Modernization Market by Application, 2022-2032, $ mn
Table 41. Russia Elevator Modernization Market by Elevator Type, 2022-2032, $ mn
Table 42. Russia Elevator Modernization Market by Component, 2022-2032, $ mn
Table 43. Russia Elevator Modernization Market by Application, 2022-2032, $ mn
Table 44. Elevator Modernization Market in Rest of Europe by Country, 2022-2032, $ mn
Table 45. APAC Elevator Modernization Market by Country, 2022-2032, $ mn
Table 46. Japan Elevator Modernization Market by Elevator Type, 2022-2032, $ mn
Table 47. Japan Elevator Modernization Market by Component, 2022-2032, $ mn
Table 48. Japan Elevator Modernization Market by Application, 2022-2032, $ mn
Table 49. China Elevator Modernization Market by Elevator Type, 2022-2032, $ mn
Table 50. China Elevator Modernization Market by Component, 2022-2032, $ mn
Table 51. China Elevator Modernization Market by Application, 2022-2032, $ mn
Table 52. Australia Elevator Modernization Market by Elevator Type, 2022-2032, $ mn
Table 53. Australia Elevator Modernization Market by Component, 2022-2032, $ mn
Table 54. Australia Elevator Modernization Market by Application, 2022-2032, $ mn
Table 55. India Elevator Modernization Market by Elevator Type, 2022-2032, $ mn
Table 56. India Elevator Modernization Market by Component, 2022-2032, $ mn
Table 57. India Elevator Modernization Market by Application, 2022-2032, $ mn
Table 58. South Korea Elevator Modernization Market by Elevator Type, 2022-2032, $ mn
Table 59. South Korea Elevator Modernization Market by Component, 2022-2032, $ mn
Table 60. South Korea Elevator Modernization Market by Application, 2022-2032, $ mn
Table 61. Elevator Modernization Market in Rest of APAC by Country/Region, 2022-2032, $ mn
Table 62. South America Elevator Modernization Market by Country, 2022-2032, $ mn
Table 63. Argentina Elevator Modernization Market by Elevator Type, 2022-2032, $ mn
Table 64. Argentina Elevator Modernization Market by Component, 2022-2032, $ mn
Table 65. Argentina Elevator Modernization Market by Application, 2022-2032, $ mn
Table 66. Brazil Elevator Modernization Market by Elevator Type, 2022-2032, $ mn
Table 67. Brazil Elevator Modernization Market by Component, 2022-2032, $ mn
Table 68. Brazil Elevator Modernization Market by Application, 2022-2032, $ mn
Table 69. Chile Elevator Modernization Market by Elevator Type, 2022-2032, $ mn
Table 70. Chile Elevator Modernization Market by Component, 2022-2032, $ mn
Table 71. Chile Elevator Modernization Market by Application, 2022-2032, $ mn
Table 72. MEA Elevator Modernization Market by Country, 2022-2032, $ mn
Table 73. UAE Elevator Modernization Market by Elevator Type, 2022-2032, $ mn
Table 74. UAE Elevator Modernization Market by Component, 2022-2032, $ mn
Table 75. UAE Elevator Modernization Market by Application, 2022-2032, $ mn
Table 76. Saudi Arabia Elevator Modernization Market by Elevator Type, 2022-2032, $ mn
Table 77. Saudi Arabia Elevator Modernization Market by Component, 2022-2032, $ mn
Table 78. Saudi Arabia Elevator Modernization Market by Application, 2022-2032, $ mn
Table 79. Egypt Elevator Modernization Market by Elevator Type, 2022-2032, $ mn
Table 80. Egypt Elevator Modernization Market by Component, 2022-2032, $ mn
Table 81. Egypt Elevator Modernization Market by Application, 2022-2032, $ mn
Table 82. Doppler S.A.: Company Snapshot
Table 83. Doppler S.A.: Business Segmentation
Table 84. Doppler S.A.: Product Portfolio
Table 85. Risk Evaluation for Investing in Global Market, 2022-2032
Table 86. Critical Success Factors and Key Takeaways

List Of Figures

LIST OF FIGURES

Figure 1. Research Method Flow Chart
Figure 2. Bottom-up Approach and Top-down Approach for Market Estimation
Figure 3. Global Market Forecast in Optimistic, Conservative and Balanced Perspectives, 2022-2032
Figure 4. Global Elevator Modernization Market, 2022-2032, $ mn
Figure 5. Impact of COVID-19 on Business
Figure 6. Primary Drivers and Impact Factors of Global Elevator Modernization Market
Figure 7. World Construction Industry, 2019-2030, $ trillion
Figure 8. Primary Restraints and Impact Factors of Global Elevator Modernization Market
Figure 9. Investment Opportunity Analysis
Figure 10. Porter’s Fiver Forces Analysis of Global Elevator Modernization Market
Figure 11. Breakdown of Global Elevator Modernization Market by Modernization Type, 2022-2032, % of Revenue
Figure 12. Contribution to Global 2023-2032 Cumulative Revenue by Modernization Type, Value ($ mn) and Share (%)
Figure 13. Global Elevator Modernization Market by Modernization Type: Full Modernization, 2022-2032, $ mn
Figure 14. Global Elevator Modernization Market by Modernization Type: Partial Modernization, 2022-2032, $ mn
Figure 15. Breakdown of Global Elevator Modernization Market by Elevator Type, 2022-2032, % of Revenue
Figure 16. Contribution to Global 2023-2032 Cumulative Revenue by Elevator Type, Value ($ mn) and Share (%)
Figure 17. Global Elevator Modernization Market by Elevator Type: Hydraulic Elevators, 2022-2032, $ mn
Figure 18. Global Elevator Modernization Market by Hydraulic Elevators: Conventional Hydraulic Elevators, 2022-2032, $ mn
Figure 19. Global Elevator Modernization Market by Hydraulic Elevators: Hole-less Hydraulic Elevators, 2022-2032, $ mn
Figure 20. Global Elevator Modernization Market by Hydraulic Elevators: Roped Hydraulic Elevators, 2022-2032, $ mn
Figure 21. Global Elevator Modernization Market by Elevator Type: Traction Elevators, 2022-2032, $ mn
Figure 22. Global Elevator Modernization Market by Traction Elevators: Geared Traction Elevators, 2022-2032, $ mn
Figure 23. Global Elevator Modernization Market by Traction Elevators: Gear-less Traction Elevators, 2022-2032, $ mn
Figure 24. Global Elevator Modernization Market by Traction Elevators: Machine Room-Less Elevators, 2022-2032, $ mn
Figure 25. Global Elevator Modernization Market by Elevator Type: Climbing Elevators, 2022-2032, $ mn
Figure 26. Global Elevator Modernization Market by Elevator Type: Pneumatic/Vacuum Elevators, 2022-2032, $ mn
Figure 27. Breakdown of Global Elevator Modernization Market by Component, 2022-2032, % of Revenue
Figure 28. Contribution to Global 2023-2032 Cumulative Revenue by Component, Value ($ mn) and Share (%)
Figure 29. Global Elevator Modernization Market by Component: Power Units, 2022-2032, $ mn
Figure 30. Global Elevator Modernization Market by Component: Cabin Enclosures, 2022-2032, $ mn
Figure 31. Global Elevator Modernization Market by Component: Controllers, 2022-2032, $ mn
Figure 32. Global Elevator Modernization Market by Component: Signaling Fixtures, 2022-2032, $ mn
Figure 33. Global Elevator Modernization Market by Component: Door Equipment, 2022-2032, $ mn
Figure 34. Global Elevator Modernization Market by Component: Other Components, 2022-2032, $ mn
Figure 35. Breakdown of Global Elevator Modernization Market by Application, 2022-2032, % of Revenue
Figure 36. Contribution to Global 2023-2032 Cumulative Revenue by Application, Value ($ mn) and Share (%)
Figure 37. Global Elevator Modernization Market by Application: Industrial Application, 2022-2032, $ mn
Figure 38. Global Elevator Modernization Market by Application: Residential Application, 2022-2032, $ mn
Figure 39. Global Elevator Modernization Market by Application: Commercial Application, 2022-2032, $ mn
Figure 40. Global Market Snapshot by Region
Figure 41. Geographic Spread of Worldwide Elevator Modernization Market, 2022-2032, % of Revenue
Figure 42. Contribution to Global 2023-2032 Cumulative Revenue by Region, Value ($ mn) and Share (%)
Figure 43. North American Elevator Modernization Market, 2022-2032, $ mn
Figure 44. Breakdown of North America Elevator Modernization Market by Country, 2022 and 2032, % of Revenue
Figure 45. Contribution to North America 2023-2032 Cumulative Revenue by Country, Value ($ mn) and Share (%)
Figure 46. U.S. Elevator Modernization Market, 2022-2032, $ mn
Figure 47. Canada Elevator Modernization Market, 2022-2032, $ mn
Figure 48. Elevator Modernization Market in Mexico, 2022-2032, $ mn
Figure 49. European Elevator Modernization Market, 2022-2032, $ mn
Figure 50. Breakdown of European Elevator Modernization Market by Country, 2022 and 2032, % of Revenue
Figure 51. Contribution to Europe 2023-2032 Cumulative Revenue by Country, Value ($ mn) and Share (%)
Figure 52. Elevator Modernization Market in Germany, 2022-2032, $ mn
Figure 53. Elevator Modernization Market in UK, 2022-2032, $ mn
Figure 54. Elevator Modernization Market in France, 2022-2032, $ mn
Figure 55. Elevator Modernization Market in Spain, 2022-2032, $ mn
Figure 56. Elevator Modernization Market in Italy, 2022-2032, $ mn
Figure 57. Elevator Modernization Market in Russia, 2022-2032, $ mn
Figure 58. Elevator Modernization Market in Rest of Europe, 2022-2032, $ mn
Figure 59. Asia-Pacific Elevator Modernization Market, 2022-2032, $ mn
Figure 60. Breakdown of APAC Elevator Modernization Market by Country, 2022 and 2032, % of Revenue
Figure 61. Contribution to APAC 2023-2032 Cumulative Revenue by Country, Value ($ mn) and Share (%)
Figure 62. Elevator Modernization Market in Japan, 2022-2032, $ mn
Figure 63. Elevator Modernization Market in China, 2022-2032, $ mn
Figure 64. Elevator Modernization Market in Australia, 2022-2032, $ mn
Figure 65. Elevator Modernization Market in India, 2022-2032, $ mn
Figure 66. Elevator Modernization Market in South Korea, 2022-2032, $ mn
Figure 67. Elevator Modernization Market in Rest of APAC, 2022-2032, $ mn
Figure 68. South America Elevator Modernization Market, 2022-2032, $ mn
Figure 69. Breakdown of South America Elevator Modernization Market by Country, 2022 and 2032, % of Revenue
Figure 70. Contribution to South America 2023-2032 Cumulative Revenue by Country, Value ($ mn) and Share (%)
Figure 71. Elevator Modernization Market in Argentina, 2022-2032, $ mn
Figure 72. Elevator Modernization Market in Brazil, 2022-2032, $ mn
Figure 73. Elevator Modernization Market in Chile, 2022-2032, $ mn
Figure 74. Elevator Modernization Market in Rest of South America, 2022-2032, $ mn
Figure 75. Elevator Modernization Market in MEA, 2022-2032, $ mn
Figure 76. Breakdown of MEA Elevator Modernization Market by Country, 2022 and 2032, % of Revenue
Figure 77. Contribution to MEA 2023-2032 Cumulative Revenue by Country, Value ($ mn) and Share (%)
Figure 78. Elevator Modernization Market in UAE, 2022-2032, $ mn
Figure 79. Elevator Modernization Market in Saudi Arabia, 2022-2032, $ mn
Figure 80. Elevator Modernization Market in Egypt, 2022-2032, $ mn
Figure 81. Growth Stage of Global Elevator Modernization Industry over the Forecast Period