Global Elevator and Escalator Market was valued US$ 148.67 Bn in 2019 and is estimated to reach approximately US$ XX Bn by 2026 at a CAGR of about XX % during a forecast.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Growing technological advancements, the rising popularity of smart intelligent elevator, rising number of multi-storied shopping centers & buildings, upcoming smart cities and growing concern for safety are the key growth drivers for the global elevator and escalator market.
The robust growing construction industry is providing growth opportunities for the market during the forecast period. Busy time schedules and increased number of geriatric population necessitate the facility of escalator and elevator in residential apartments across the globe.
Elevator and Escalator Market is segmented by technology, by product, by service, by the end user, and by region. Elevator and escalator market by type is segmented into elevator, escalator & moving walkways. Based on elevator technology elevator and escalator market is segmented into traction, machine room-less & hydraulic.
New installation and maintenance & repair & modernization are service segments of elevator and escalator market. Commercial and residential are end users segments of elevator and escalator market. Geographically elevator and escalator market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
Elevator segment holds XX % of the market share. Elevator systems consist of a hydraulic elevator, geared elevator, non-geared elevator, and machine room-less elevator (MRLs). Nowadays, MRLS are preferred over conventional geared elevator as they are technologically advanced, save space and consume less energy.
New installation as a service will witness the highest growth in the elevator & escalator market. A surge in the growth of the construction industry will ask for more and more installation. The second fastest growing sector is maintenance & repair, the reason being, all new and existing structures that are installed require periodical maintenance & repair for their smooth functioning. This makes the maintenance & repair market very lucrative and fast growing.
Machine-room-less traction technology is the fastest-growing technology since it is more efficient and provides a smooth ride to its passengers. Newly designed permanent magnet motors (PMM) allow the manufacturers to locate the machines in the hoist way overhead, thus eliminating the need for a machine room, typically over the hoistway.
Hydraulic and traction lifts are among the two most commonly used lifts in both residential and commercial buildings. Hydraulic elevator requires a lesser amount of space because their hoistway doesn’t require as much space. Traction elevator is faster compared to their hydraulic counterparts.
Asia region is anticipated to have the XX % of largest market share and expected to dominate the market during the forecast period, due to a growing number of opportunities in emerging markets, growing commercial, institutional, residential, and infrastructure industries and increasing population. Demand for elevator and escalator are increasing significantly in the developing countries, such as China and India.
China held a XX % share in the market in 2017. Demand for elevator and escalator are also expected to upsurge in the Middle-East during the forecast period. The market for maintenance and modernization of elevator and escalator in the developed countries is expected to surge, due to their aging infrastructure and requirement for up-gradation.
The objective of the report is to present comprehensive analysis of Global Elevator and Escalator Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report.
External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers. The report also helps in understanding Global Elevator and Escalator Market dynamics, structure by analyzing the market segments, and project the Global Elevator and Escalator Market size. Clear representation of competitive analysis of key players by Global Elevator and Escalator Market Type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Elevator and Escalator Market make the report investor’s guide.
The scope of the Global Elevator and Escalator Market
Global Elevator and Escalator Market by Product Type:
• Escalator & Moving walkways
Global Elevator and Escalator Market by Elevator Technology
• Machine room-Less
Global Elevator and Escalator Market by Service Type:
• New installation
• Maintenance & Repair & Modernization
Global Elevator and Escalator Market by End-Use Type:
Global Elevator and Escalator Market by Region:
• North America
• Asia Pacific
• Middle East & Africa
• Latin America
Key Player Analyzed in the Global Elevator and Escalator Market:
• KONE CORPORATION
• Mitsubishi Electric
• Otis Elevator Company
• United Technologie
• FUJITEC, Hitachi Ltd.
• Hyundai Elevator Co., Ltd,
• Toshiba Corporation, and Electra Ltd.
• Shanghai Mechanical
• Canny Elevator
• Kleeman Hellas SA.
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