Saudi Arabia Elevator & Escalator Maintenance & Repair Services Market By Type (Elevator, Escalator and Moving Walkways), By Elevator Technology (Traction, Hydraulic and Machine Room-Less Traction), By End-User (Residential, Commercial, Institutional, Infrastructural, Others), By Elevator Door Type (Automatic and Manual), By Region, Competition Forecast & Opportunities, 2018-2028
Saudi Arabia Elevator & Escalator Maintenance & Repair Services Market is anticipated to grow at a steady pace in the forecast period, 2023-2028. The Saudi Arabian market for maintenance and repair services for elevators and escalators is expected to grow steadily over the course of the forecast period. The government's stringent public safety regulations and the booming construction industry are both responsible for the market's growth. Increased government spending to advance the country's infrastructure development and an increase in the number of commercial projects in various regions are expected to fuel demand for vertical mobility services, leading to growth in the Saudi Arabia elevator and escalator maintenance and repair services market over the coming years.
Modernization is the updating of an elevator's or lift's essential components. The phrase 'lift modernization' is frequently used to describe this procedure. Its objective is to improve performance that has deteriorated over time and raise safety standards. When elevators are modernized, the rotating motors and controller hardware are usually impacted. Elevator renovation can boost their efficiency, dependability, and performance. The elevator's obsolete components are all replaced with new, contemporary ones to extend its useful life and reduce maintenance expenses.
High Safety Standards
In order to offer trustworthy consultations and recommendations about extra components and functions to upgrade added equipment to meet with the most recent safety regulations, companies have started to evaluate the overall safety of elevators as they undergo modernization. Additionally, businesses that specialize in elevator modernization are currently building door systems that would prevent entangled passengers from putting themselves at risk by requiring them to open the door from within in an emergency sensory intelligence system that continuously and actively monitor elevators and riders have made elevators more intelligent and secure. These technologies have the ability to initiate a request at any time and identify any unusual behaviors.
Augmenting New Technological Advancements
Leading businesses like Otis, Toshiba, Schindler, and KONE are investing in Internet of Things (IoT) and intelligent services to monitor and improve elevator services by predicting how frequently the equipment must move up or down as well as how much weight the elevators can carry with the destination-based operation. Otis, a manufacturer of escalators, elevators, and moving walkways, for instance, unveiled Otis One, an IoT service platform, in May 2018. Additionally, producers like Schindler may save a lot of energy because solar-powered elevators are fueled by solar energy.
Increasing Demand for Modern Machine Room Less Traction Elevators
Modern machine room-less traction elevators offer a number of benefits, such as greater hoist-way area utilization, reduced weight, increased energy efficiency, and additional design alternatives. The construction of high-rise residential and office buildings in Saudi Arabia has also resulted in a major increase in demand for high-speed traction elevators. Elevator capacity has increased throughout time to handle increased traffic between multi-story buildings. A variety of contemporary technologies is also included in these elevators, including Wi-Fi routers, sophisticated fire alarm systems, wheelchair lifts, etc. The number of floors in the building also affects the elevator's speed, which has fluctuated significantly over the years and occasionally exceeds 10 m/s. Modern machine room-less elevators are utilized more frequently in low- and medium-story buildings, saving both space and money on construction. Top firms are introducing high speed, ultra-high speed, and machine room-less elevators for diverse geographical requirements in order to meet the expanding market demand. In the years to come, it is projected that these developments will further boost the the Saudi Arabia Elevator & Escalator Maintenance & Repair Services Market.
Market Segmentation
The Saudi Arabia Elevator & Escalator Maintenance & Repair Services Market is divided into Type, Elevator Technology, End-User and Elevator Door Type, Region and Competitive landscape. Based on Type, the market is divided into Elevator, Escalator and Moving Walkways. Based on Elevator Technology the market is segmented into Traction, Hydraulic and Machine Room-Less Traction. Based on End User, the market is divided into Residential, Commercial, Institutional, Infrastructural and Others. Based on Elevator Door Type, the market is divided into Automatic & Manual. The market is also segmented by region into Central & Northern Region, Western Region, Southern Region, Eastern Region.
Market Players
Major market players in the Saudi Arabia Elevator & Escalator Maintenance & Repair Services Market are Otis Elevator Company Saudi Arabia Limited, Schindler Olayan Elevators Co. Ltd, ThyssenKrupp Elevator Saudi Limited, Mitsubishi Electric Saudi Ltd., Gulf Elevator & Escalator Company Ltd., Khaled Juffali Elevator & Escalator Co., KONE Saudi Arabia, Orona Elevator Co. KSA, Fujitec Saudi Arabia Co., Ltd., Hyundai Elevator Saudi Arabia.
Report Scope:
In this report, the Saudi Arabia Elevator & Escalator Maintenance & Repair Services Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Company Profiles: Detailed analysis of the major companies present in the Saudi Arabia Elevator & Escalator Maintenance & Repair Services Market.
Available Customizations:
Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
Modernization is the updating of an elevator's or lift's essential components. The phrase 'lift modernization' is frequently used to describe this procedure. Its objective is to improve performance that has deteriorated over time and raise safety standards. When elevators are modernized, the rotating motors and controller hardware are usually impacted. Elevator renovation can boost their efficiency, dependability, and performance. The elevator's obsolete components are all replaced with new, contemporary ones to extend its useful life and reduce maintenance expenses.
High Safety Standards
In order to offer trustworthy consultations and recommendations about extra components and functions to upgrade added equipment to meet with the most recent safety regulations, companies have started to evaluate the overall safety of elevators as they undergo modernization. Additionally, businesses that specialize in elevator modernization are currently building door systems that would prevent entangled passengers from putting themselves at risk by requiring them to open the door from within in an emergency sensory intelligence system that continuously and actively monitor elevators and riders have made elevators more intelligent and secure. These technologies have the ability to initiate a request at any time and identify any unusual behaviors.
Augmenting New Technological Advancements
Leading businesses like Otis, Toshiba, Schindler, and KONE are investing in Internet of Things (IoT) and intelligent services to monitor and improve elevator services by predicting how frequently the equipment must move up or down as well as how much weight the elevators can carry with the destination-based operation. Otis, a manufacturer of escalators, elevators, and moving walkways, for instance, unveiled Otis One, an IoT service platform, in May 2018. Additionally, producers like Schindler may save a lot of energy because solar-powered elevators are fueled by solar energy.
Increasing Demand for Modern Machine Room Less Traction Elevators
Modern machine room-less traction elevators offer a number of benefits, such as greater hoist-way area utilization, reduced weight, increased energy efficiency, and additional design alternatives. The construction of high-rise residential and office buildings in Saudi Arabia has also resulted in a major increase in demand for high-speed traction elevators. Elevator capacity has increased throughout time to handle increased traffic between multi-story buildings. A variety of contemporary technologies is also included in these elevators, including Wi-Fi routers, sophisticated fire alarm systems, wheelchair lifts, etc. The number of floors in the building also affects the elevator's speed, which has fluctuated significantly over the years and occasionally exceeds 10 m/s. Modern machine room-less elevators are utilized more frequently in low- and medium-story buildings, saving both space and money on construction. Top firms are introducing high speed, ultra-high speed, and machine room-less elevators for diverse geographical requirements in order to meet the expanding market demand. In the years to come, it is projected that these developments will further boost the the Saudi Arabia Elevator & Escalator Maintenance & Repair Services Market.
Market Segmentation
The Saudi Arabia Elevator & Escalator Maintenance & Repair Services Market is divided into Type, Elevator Technology, End-User and Elevator Door Type, Region and Competitive landscape. Based on Type, the market is divided into Elevator, Escalator and Moving Walkways. Based on Elevator Technology the market is segmented into Traction, Hydraulic and Machine Room-Less Traction. Based on End User, the market is divided into Residential, Commercial, Institutional, Infrastructural and Others. Based on Elevator Door Type, the market is divided into Automatic & Manual. The market is also segmented by region into Central & Northern Region, Western Region, Southern Region, Eastern Region.
Market Players
Major market players in the Saudi Arabia Elevator & Escalator Maintenance & Repair Services Market are Otis Elevator Company Saudi Arabia Limited, Schindler Olayan Elevators Co. Ltd, ThyssenKrupp Elevator Saudi Limited, Mitsubishi Electric Saudi Ltd., Gulf Elevator & Escalator Company Ltd., Khaled Juffali Elevator & Escalator Co., KONE Saudi Arabia, Orona Elevator Co. KSA, Fujitec Saudi Arabia Co., Ltd., Hyundai Elevator Saudi Arabia.
Report Scope:
In this report, the Saudi Arabia Elevator & Escalator Maintenance & Repair Services Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Saudi Arabia Elevator & Escalator Maintenance & Repair Services Market, By Type:
- Elevator
- Escalator
- Moving Walkways
- Saudi Arabia Elevator & Escalator Maintenance & Repair Services Market, By Elevator Technology:
- Traction
- Hydraulic
- Machine Room-Less Traction
- Saudi Arabia Elevator & Escalator Maintenance & Repair Services Market, By End-User:
- Residential
- Commercial
- Institutional
- Infrastructural
- Others
- Saudi Arabia Elevator & Escalator Maintenance & Repair Services Market, By Elevator Door Type:
- Automatic
- Manual
- Saudi Arabia Elevator & Escalator Maintenance & Repair Services Market, By Region:
- Central & Northern Region
- Western Region
- Southern Region
- Eastern Region
Company Profiles: Detailed analysis of the major companies present in the Saudi Arabia Elevator & Escalator Maintenance & Repair Services Market.
Available Customizations:
Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to five).
1. Service Overview
2. RESEARCH METHODOLOGY
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
3. IMPACT OF COVID-19 ON SAUDI ARABIA ELEVATOR & ESCALATOR MAINTENANCE & REPAIR SERVICES MARKET
4. EXECUTIVE SUMMARY
5. VOICE OF CUSTOMERS
6. SAUDI ARABIA ELEVATOR & ESCALATOR MAINTENANCE & REPAIR SERVICES MARKET OUTLOOK
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Type (Elevator, Escalator and Moving Walkways)
6.2.2. By Elevator Technology (Traction, Hydraulic and Machine Room-Less Traction)
6.2.3. By End-User (Residential, Commercial, Institutional, Infrastructural and Others)
6.2.4. By Elevator Door Type (Automatic and Manual)
6.2.5. By Region (Central & Northern Region, Western Region, Southern Region, Eastern Region)
6.3. By Company (2022)
6.4. Market Map
7. CENTRAL & NORTHERN REGION ELEVATOR & ESCALATOR MAINTENANCE & REPAIR SERVICES MARKET OUTLOOK
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Type
7.2.2. By Elevator Technology
7.2.3. By End-User
7.2.4. By Elevator Door Type
8. WESTERN REGION ELEVATOR & ESCALATOR MAINTENANCE & REPAIR SERVICES MARKET OUTLOOK
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Type
8.2.2. By Elevator Technology
8.2.3. By End-User
8.2.4. By Elevator Door Type
9. SOUTHERN REGION ELEVATOR & ESCALATOR MAINTENANCE & REPAIR SERVICES MARKET OUTLOOK
9.1. Market Size & Forecast
9.1.1. By Value
9.2. Market Share & Forecast
9.2.1. By Type
9.2.2. By Elevator Technology
9.2.3. By End-User
9.2.4. By Elevator Door Type
10. EASTERN REGION ELEVATOR & ESCALATOR MAINTENANCE & REPAIR SERVICES MARKET OUTLOOK
10.1. Market Size & Forecast
10.1.1. By Value
10.2. Market Share & Forecast
10.2.1. By Type
10.2.2. By Elevator Technology
10.2.3. By End-User
10.2.4. By Elevator Door Type
11. MARKET DYNAMICS
11.1. Drivers
11.1.1. Rising Digital Urbanization
11.1.2. Reduces Electromagnetic Noise
11.1.3. Growth in Real-Estate Sector
11.2. Challenges
11.2.1. High Installation & Maintenance Cost
11.2.2. Corrosion of Lift Equipment
12. MARKET TRENDS & DEVELOPMENTS
12.1. Increasing Demand for Modern Machine Room Less Elevators
12.2. High Safety Standards
12.3. Augmenting New Technological Advancements
12.4. Smart Mobility
12.5. Increasing Mergers and Acquisitions in the Industry
13. POLICY & REGULATORY LANDSCAPE
14. SAUDI ARABIA ECONOMIC PROFILE
15. SAUDI ARABIA UPCOMING MEGA PROJECTS
16. RECENT DEVELOPMENTS IN SAUDI ARABIA
17. COMPANY PROFILES
17.1. Otis Elevator Company Saudi Arabia Limited
17.1.1. Business Overview
17.1.2. Key Revenue and Financials (If Available)
17.1.3. Recent Developments
17.1.4. Key Personnel
17.1.5. Key Product/Services
17.2. Schindler Olayan Elevators Co. Ltd
17.2.1. Business Overview
17.2.2. Key Revenue and Financials (If Available)
17.2.3. Recent Developments
17.2.4. Key Personnel
17.2.5. Key Product/Services
17.3. ThyssenKrupp Elevator Saudi Limited
17.3.1. Business Overview
17.3.2. Key Revenue and Financials (If Available)
17.3.3. Recent Developments
17.3.4. Key Personnel
17.3.5. Key Product/Services
17.4. Mitsubishi Electric Saudi Ltd.
17.4.1. Business Overview
17.4.2. Key Revenue and Financials (If Available)
17.4.3. Recent Developments
17.4.4. Key Personnel
17.4.5. Key Product/Services
17.5. Gulf Elevator & Escalator Company Ltd.
17.5.1. Business Overview
17.5.2. Key Revenue and Financials (If Available)
17.5.3. Recent Developments
17.5.4. Key Personnel
17.5.5. Key Product/Services
17.6. Khaled Juffali Elevator & Escalator Co.
17.6.1. Business Overview
17.6.2. Key Revenue and Financials (If Available)
17.6.3. Recent Developments
17.6.4. Key Personnel
17.6.5. Key Product/Services
17.7. KONE Saudi Arabia
17.7.1. Business Overview
17.7.2. Key Revenue and Financials (If Available)
17.7.3. Recent Developments
17.7.4. Key Personnel
17.7.5. Key Product/Services
17.8. Orona Elevator Co. KSA
17.8.1. Business Overview
17.8.2. Key Revenue and Financials (If Available)
17.8.3. Recent Developments
17.8.4. Key Personnel
17.8.5. Key Product/Services
17.9. Fujitec Saudi Arabia Co., Ltd.
17.9.1. Business Overview
17.9.2. Key Revenue and Financials (If Available)
17.9.3. Recent Developments
17.9.4. Key Personnel
17.9.5. Key Product/Services
17.10. Hyundai Elevator Saudi Arabia
17.10.1. Business Overview
17.10.2. Key Revenue and Financials (If Available)
17.10.3. Recent Developments
17.10.4. Key Personnel
17.10.5. Key Product/Services
18. STRATEGIC RECOMMENDATIONS
19. ABOUT US & DISCLAIMER
2. RESEARCH METHODOLOGY
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
3. IMPACT OF COVID-19 ON SAUDI ARABIA ELEVATOR & ESCALATOR MAINTENANCE & REPAIR SERVICES MARKET
4. EXECUTIVE SUMMARY
5. VOICE OF CUSTOMERS
6. SAUDI ARABIA ELEVATOR & ESCALATOR MAINTENANCE & REPAIR SERVICES MARKET OUTLOOK
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Type (Elevator, Escalator and Moving Walkways)
6.2.2. By Elevator Technology (Traction, Hydraulic and Machine Room-Less Traction)
6.2.3. By End-User (Residential, Commercial, Institutional, Infrastructural and Others)
6.2.4. By Elevator Door Type (Automatic and Manual)
6.2.5. By Region (Central & Northern Region, Western Region, Southern Region, Eastern Region)
6.3. By Company (2022)
6.4. Market Map
7. CENTRAL & NORTHERN REGION ELEVATOR & ESCALATOR MAINTENANCE & REPAIR SERVICES MARKET OUTLOOK
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Type
7.2.2. By Elevator Technology
7.2.3. By End-User
7.2.4. By Elevator Door Type
8. WESTERN REGION ELEVATOR & ESCALATOR MAINTENANCE & REPAIR SERVICES MARKET OUTLOOK
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Type
8.2.2. By Elevator Technology
8.2.3. By End-User
8.2.4. By Elevator Door Type
9. SOUTHERN REGION ELEVATOR & ESCALATOR MAINTENANCE & REPAIR SERVICES MARKET OUTLOOK
9.1. Market Size & Forecast
9.1.1. By Value
9.2. Market Share & Forecast
9.2.1. By Type
9.2.2. By Elevator Technology
9.2.3. By End-User
9.2.4. By Elevator Door Type
10. EASTERN REGION ELEVATOR & ESCALATOR MAINTENANCE & REPAIR SERVICES MARKET OUTLOOK
10.1. Market Size & Forecast
10.1.1. By Value
10.2. Market Share & Forecast
10.2.1. By Type
10.2.2. By Elevator Technology
10.2.3. By End-User
10.2.4. By Elevator Door Type
11. MARKET DYNAMICS
11.1. Drivers
11.1.1. Rising Digital Urbanization
11.1.2. Reduces Electromagnetic Noise
11.1.3. Growth in Real-Estate Sector
11.2. Challenges
11.2.1. High Installation & Maintenance Cost
11.2.2. Corrosion of Lift Equipment
12. MARKET TRENDS & DEVELOPMENTS
12.1. Increasing Demand for Modern Machine Room Less Elevators
12.2. High Safety Standards
12.3. Augmenting New Technological Advancements
12.4. Smart Mobility
12.5. Increasing Mergers and Acquisitions in the Industry
13. POLICY & REGULATORY LANDSCAPE
14. SAUDI ARABIA ECONOMIC PROFILE
15. SAUDI ARABIA UPCOMING MEGA PROJECTS
16. RECENT DEVELOPMENTS IN SAUDI ARABIA
17. COMPANY PROFILES
17.1. Otis Elevator Company Saudi Arabia Limited
17.1.1. Business Overview
17.1.2. Key Revenue and Financials (If Available)
17.1.3. Recent Developments
17.1.4. Key Personnel
17.1.5. Key Product/Services
17.2. Schindler Olayan Elevators Co. Ltd
17.2.1. Business Overview
17.2.2. Key Revenue and Financials (If Available)
17.2.3. Recent Developments
17.2.4. Key Personnel
17.2.5. Key Product/Services
17.3. ThyssenKrupp Elevator Saudi Limited
17.3.1. Business Overview
17.3.2. Key Revenue and Financials (If Available)
17.3.3. Recent Developments
17.3.4. Key Personnel
17.3.5. Key Product/Services
17.4. Mitsubishi Electric Saudi Ltd.
17.4.1. Business Overview
17.4.2. Key Revenue and Financials (If Available)
17.4.3. Recent Developments
17.4.4. Key Personnel
17.4.5. Key Product/Services
17.5. Gulf Elevator & Escalator Company Ltd.
17.5.1. Business Overview
17.5.2. Key Revenue and Financials (If Available)
17.5.3. Recent Developments
17.5.4. Key Personnel
17.5.5. Key Product/Services
17.6. Khaled Juffali Elevator & Escalator Co.
17.6.1. Business Overview
17.6.2. Key Revenue and Financials (If Available)
17.6.3. Recent Developments
17.6.4. Key Personnel
17.6.5. Key Product/Services
17.7. KONE Saudi Arabia
17.7.1. Business Overview
17.7.2. Key Revenue and Financials (If Available)
17.7.3. Recent Developments
17.7.4. Key Personnel
17.7.5. Key Product/Services
17.8. Orona Elevator Co. KSA
17.8.1. Business Overview
17.8.2. Key Revenue and Financials (If Available)
17.8.3. Recent Developments
17.8.4. Key Personnel
17.8.5. Key Product/Services
17.9. Fujitec Saudi Arabia Co., Ltd.
17.9.1. Business Overview
17.9.2. Key Revenue and Financials (If Available)
17.9.3. Recent Developments
17.9.4. Key Personnel
17.9.5. Key Product/Services
17.10. Hyundai Elevator Saudi Arabia
17.10.1. Business Overview
17.10.2. Key Revenue and Financials (If Available)
17.10.3. Recent Developments
17.10.4. Key Personnel
17.10.5. Key Product/Services
18. STRATEGIC RECOMMENDATIONS
19. ABOUT US & DISCLAIMER
