Global Elevator and Escalator Market Size study & Forecast, by Product (Elevators, Escalators, Moving Walkway) by Business (New Equipment, Maintenance, Modernization), by Application (Residential, Commercial, Industrial) and Regional Analysis, 2023-2030

October 2023 | 200 pages | ID: G5DE9FB7815FEN
Bizwit Research & Consulting LLP

Abstracts

Global Elevator and Escalator Market is valued approximately USD 83.86 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 7.0% over the forecast period 2023-2030. Elevators and escalators are two common types of vertical transportation systems used in buildings and public spaces. The key factors driving the market growth is rising investment in infrastructure development, growing need for reducing energy consumption in buildings, growing urbanization and high-rise construction, and growing aging population and accessibility needs is anticipated to support the market growth during forecast period.

Moreover, the market is anticipated to be driven by the growth of smart cities. For instance, according to the Policy Forum, China spent over USD 30.4 billion on smart cities in 2018 and is expected to spend more than USD 59.9 billion by 2023. Furthermore, the industry is rising as a result of the increased need for high-speed lifts caused by skyscraper construction. For example, in Malaysia, the Merdeka PNB 118 skyscraper is 644 meters tall. It is anticipated that this skyscraper will be Southeast Asia's tallest skyscraper. Additionally, the rising development of innovative technologies and rising demand for smart elevators is anticipated to create the lucrative opportunity for the market during forecast period. However, the compliance with standards and regulations stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Elevator and Escalator Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the growing investment in infrastructure development, growth of commercial constructions, and rising development of innovative technologies in the region. Whereas, the Asia Pacific is anticipated to grow with the highest CAGR during the forecast period, owing to factors such as the supportive government initiatives for smart cities projects, Surging adoption of smart technologies, and growing investment in construction industry.

Major market player included in this report are:

Thyssenkrupp AG (Cinven, Advent and RAG Foundation) (Germany)

United Technologies (U.S.)

Schindler (Switzerland)

Kone Corporation (Finland)

Hitachi, Ltd. (Japan)

Hyundaielevator Co., Ltd. (South Korea)

Mitsubishi Electric Corporation (Japan)

Johnson Elevator Co., Ltd. (China)

Fujitec Co., Ltd (Japan)

Toshiba Corporation (Japan)

Recent Developments in the Market:

• In Feb. 2021, Schindler and citizenM hotels, the top boutique hotel chain based in the Netherlands, have signed a partnership agreement to offer maintenance and modernization services for escalators and lifts in all of the Group's current buildings worldwide. Additionally, Schindler will install future vertical mobility solutions in the chain's new hotels.

Global Elevator and Escalator Market Report Scope:

• Historical Data – 2020 - 2021
• Base Year for Estimation – 2022
• Forecast period - 2023-2030
• Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
• Segments Covered – Product, Business, Application, Region
• Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
• Customization Scope - Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product:

Elevators

Escalators

Moving Walkway

By Business:

New Equipment

Maintenance

Modernization

By Application:

Residential

Commercial

Industrial

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Middle East & Africa

Saudi Arabia

South Africa

Rest of Middle East & Africa

Contents

CHAPTER 1. EXECUTIVE SUMMARY

1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
  1.2.1. Elevator and Escalator Market, by Region, 2020-2030 (USD Billion)
  1.2.2. Elevator and Escalator Market, by Product, 2020-2030 (USD Billion)
  1.2.3. Elevator and Escalator Market, by Business, 2020-2030 (USD Billion)
  1.2.4. Elevator and Escalator Market, by Application, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption

CHAPTER 2. GLOBAL ELEVATOR AND ESCALATOR MARKET DEFINITION AND SCOPE

2.1. Objective of the Study
2.2. Market Definition & Scope
  2.2.1. Industry Evolution
  2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates

CHAPTER 3. GLOBAL ELEVATOR AND ESCALATOR MARKET DYNAMICS

3.1. Elevator and Escalator Market Impact Analysis (2020-2030)
  3.1.1. Market Drivers
    3.1.1.1. Rising need for reducing energy consumption in buildings
    3.1.1.2. Growing investment in infrastructure development
  3.1.2. Market Challenges
    3.1.2.1. Compliance with standards and regulations
  3.1.3. Market Opportunities
    3.1.3.1. Rising development of innovative technologies and rising demand for smart elevators

CHAPTER 4. GLOBAL ELEVATOR AND ESCALATOR MARKET INDUSTRY ANALYSIS

4.1. Porter’s 5 Force Model
  4.1.1. Bargaining Power of Suppliers
  4.1.2. Bargaining Power of Buyers
  4.1.3. Threat of New Entrants
  4.1.4. Threat of Substitutes
  4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
  4.3.1. Political
  4.3.2. Economical
  4.3.3. Social
  4.3.4. Technological
  4.3.5. Environmental
  4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion

CHAPTER 5. GLOBAL ELEVATOR AND ESCALATOR MARKET, BY PRODUCT

5.1. Market Snapshot
5.2. Global Elevator and Escalator Market by Product, Performance - Potential Analysis
5.3. Global Elevator and Escalator Market Estimates & Forecasts by Product 2020-2030 (USD Billion)
5.4. Elevator and Escalator Market, Sub Segment Analysis
  5.4.1. Elevators
  5.4.2. Escalators
  5.4.3. Moving Walkway

CHAPTER 6. GLOBAL ELEVATOR AND ESCALATOR MARKET, BY BUSINESS

6.1. Market Snapshot
6.2. Global Elevator and Escalator Market by Business, Performance - Potential Analysis
6.3. Global Elevator and Escalator Market Estimates & Forecasts by Business 2020-2030 (USD Billion)
6.4. Elevator and Escalator Market, Sub Segment Analysis
  6.4.1. New Equipment
  6.4.2. Maintenance
  6.4.3. Modernization

CHAPTER 7. GLOBAL ELEVATOR AND ESCALATOR MARKET, BY APPLICATION

7.1. Market Snapshot
7.2. Global Elevator and Escalator Market by Application, Performance - Potential Analysis
7.3. Global Elevator and Escalator Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
7.4. Elevator and Escalator Market, Sub Segment Analysis
  7.4.1. Residential
  7.4.2. Commercial
  7.4.3. Industrial

CHAPTER 8. GLOBAL ELEVATOR AND ESCALATOR MARKET, REGIONAL ANALYSIS

8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Elevator and Escalator Market, Regional Market Snapshot
8.4. North America Elevator and Escalator Market
  8.4.1. U.S. Elevator and Escalator Market
    8.4.1.1. Product breakdown estimates & forecasts, 2020-2030
    8.4.1.2. Business breakdown estimates & forecasts, 2020-2030
    8.4.1.3. Application breakdown estimates & forecasts, 2020-2030
  8.4.2. Canada Elevator and Escalator Market
8.5. Europe Elevator and Escalator Market Snapshot
  8.5.1. U.K. Elevator and Escalator Market
  8.5.2. Germany Elevator and Escalator Market
  8.5.3. France Elevator and Escalator Market
  8.5.4. Spain Elevator and Escalator Market
  8.5.5. Italy Elevator and Escalator Market
  8.5.6. Rest of Europe Elevator and Escalator Market
8.6. Asia-Pacific Elevator and Escalator Market Snapshot
  8.6.1. China Elevator and Escalator Market
  8.6.2. India Elevator and Escalator Market
  8.6.3. Japan Elevator and Escalator Market
  8.6.4. Australia Elevator and Escalator Market
  8.6.5. South Korea Elevator and Escalator Market
  8.6.6. Rest of Asia Pacific Elevator and Escalator Market
8.7. Latin America Elevator and Escalator Market Snapshot
  8.7.1. Brazil Elevator and Escalator Market
  8.7.2. Mexico Elevator and Escalator Market
8.8. Middle East & Africa Elevator and Escalator Market
  8.8.1. Saudi Arabia Elevator and Escalator Market
  8.8.2. South Africa Elevator and Escalator Market
  8.8.3. Rest of Middle East & Africa Elevator and Escalator Market

CHAPTER 9. COMPETITIVE INTELLIGENCE

9.1. Key Company SWOT Analysis
  9.1.1. Company
  9.1.2. Company
  9.1.3. Company
9.2. Top Market Strategies
9.3. Company Profiles
  9.3.1. Thyssenkrupp AG (Cinven, Advent and RAG Foundation) (Germany)
    9.3.1.1. Key Information
    9.3.1.2. Overview
    9.3.1.3. Financial (Subject to Data Availability)
    9.3.1.4. Product Summary
    9.3.1.5. Recent Developments
  9.3.2. United Technologies (U.S.)
  9.3.3. Schindler (Switzerland)
  9.3.4. Kone Corporation (Finland)
  9.3.5. Hitachi, Ltd. (Japan)
  9.3.6. Hyundaielevator Co., Ltd. (South Korea)
  9.3.7. Mitsubishi Electric Corporation (Japan)
  9.3.8. Johnson Elevator Co., Ltd. (China)
  9.3.9. Fujitec Co., Ltd (Japan)
  9.3.10. Toshiba Corporation (Japan)

CHAPTER 10. RESEARCH PROCESS

10.1. Research Process
  10.1.1. Data Mining
  10.1.2. Analysis
  10.1.3. Market Estimation
  10.1.4. Validation
  10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption