Malaysia Elevators and Escalators Market - Size & Growth Forecast 2024-2029

Description

List of Tables

The Malaysia elevator and escalator market size is expected to grow at a CAGR of 3.82% from 2023-2029.

KEY HIGHLIGHTS

The lockdown in China impacts the repair and maintenance of vertical transportation (VT) equipment that serves Rapid Rail Sdn Bhd's light rail transit (LRT) and other stations in Malaysia because spare parts are imported from a facility in Shanghai. Rapid Rail claims that it is continuously monitoring the situation to speed up procurement from suppliers and contractors. Shipping of spare parts from the Shanghai OEM takes about three months. Apart from the VT at these stations, Rapid Rail notes that the overall VT equipment availability for elevators is 96.5 percent, and for escalators, it is 90 percent.
Under the 12th Malaysia Plan, 13 urban renewal projects have been authorized (12MP). By the Ministry of Natural Resources and Urban Development, all of these projects are at varying levels of planning and execution. These projects are projected to support the growth of the Malaysia elevator and escalator market.
MIDA (Malaysian Investment Development Authority) offers support in the form of incentives for IBS manufacturers and construction firms wanting to adopt automation and cutting-edge technologies such as Building Information Modelling (BIM), sophisticated materials and systems, 3D/4D/5D printing, and novel systems that improve speed, flexibility, efficiency, labor productivity, and product quality.
The National Tourism Policy (NTP) 2020- 2030 is a ten-year transformation plan for the travel and tourism sector recently unveiled by the government. The goal of the NTP was to place Malaysia among the top 10 travel destinations regarding arrivals and receipts. There are about 29 approved, funded projects in 2021 with a value of USD 0.3 billion, out of which 94% were from domestic investors and foreign investments account for 6%.

SEGMENTATION ANALYSIS

Elevator Market Segmentation by

Machine Type

Hydraulic and Pneumatic
Machine Room Traction
Machine Room Less Traction
Others
- Climbing
- Elevators
- Industrial Elevators

Carriage Type

Passenger
Freight

Capacity

2-15 Persons
16-24 Persons
25-33 Persons
34 Persons and Above

End-User

Commercial
Residential
Industrial
Others
- Public Transit
- Institutional
- Infrastructural

Escalator Market Segmentation by

Product Type

Parallel
Multi Parallel
Walkway
Crisscross

End-User

Public Transit
Commercial
Others
- Institutional Sector
- Infrastructure
- Industrial

Sustainable Construction Practices to Increase the Demand for Elevator Installation in Residential Buildings

The KLCC (Holdings) Sdn Bhd plans to construct a 700 m-tall, roughly 145-story building in the heart of Kuala Lumpur after 2030 if the market and demand are favorable. The proposed project would increase the market's available space by 4 million square feet and include three office towers on four-acre retail platforms. It would be much taller than Malaysia's Petronas Towers and the 630-meter-tall Menara PNB 118, expected to be finished in 2024.
First-time homebuyers are eligible for a complete stamp duty relief that applies to sale and purchase agreements for transactions made between January 1, 2021, and December 31, 2025. This is under the Budget 2021 provisions.
The real estate sector's recovery is still delayed by the re-imposition of the conditional movement control order (CMCO), as evidenced by the decreased traffic to sales. Considering the pandemic, more developers are utilizing digital platforms to connect with and network with potential investors and customers.

Governments Strive to Expand Infrastructure Nationwide to Increase the Demand for New Installations in the Malaysia Elevator and Escalator Market

The Forest City project by Country Garden in Johor, neighboring Singapore, is a USD 100 billion development set to accommodate 700,000 residents by 2035. The project encompasses four reclaimed islands over 30 square kilometers; the mixed-use project envisions the construction of office spaces, malls, clinics, schools, and various leisure facilities.
Kelingking Beach, located in Nusa Penida, is one of the most renowned tourist destinations in Klungkung Regency; it will have a glass elevator for tourists, and the project will commence in July 2023. The Glass Elevator project, commonly known as Glass Viewing Platforms, is a collaborative project between Chinese investors and PT.BNP (Bina Nusa Properti). The glass lift will be constructed around 182 meters high, the bridge will be 64 meters high, and the glass elevator will be completed in approximately one year, i.e., in 2024, the investment value of building the glass elevator will reach approximately IDR 200 billion. The project significantly contributes to the Malaysia elevator and escalator market.

Building Construction Authority Regulates the Maintenance of Elevators and Escalators in Malaysia to Create a Demand

According to the Malaysia Department of Occupational Safety and Health (DOSH), 806 escalators were unsafe in shopping malls and public places in 2017. A safety campaign (Safe escalator campaign) was launched to replace or repair the escalators. The campaign is projected to contribute to Malaysia elevator and escalator market growth.
Rapid Rail reported that as of October 2022, 22 out of 362 elevator units and 49 out of 707 escalators were non-functional. The company has introduced the Condition Based Maintenance (CBM) program as a long-term measure. This program involves replacing components deemed damaged or frequently problematic without waiting for the end of the service life.

VENDOR LANDSCAPE

The key players in the Malaysia elevator and escalator market are KONE, Otis, Hyundai Elevator, TK Elevator, Mitsubishi Electric, Hitachi, Schindler, and Fujitec.
The top 4 prominent vendors, including Schindler, TKE KONE, and Mitsubishi, account for 35% of the Malaysia elevator and escalator market share.

Key Vendors

Mitsubishi Electric
Schindler
TK Elevator
KONE
Hitachi
Otis
Hyundai Elevator
Fujitec

Other Prominent Vendors

Toshiba Elevator and Building Systems Corporation
Sigma Elevator
EITA Elevator
Stannah Lifts Holdings Ltd
Nippon Elevator
DOVER Elevators
CE Elevator
Delfar Elevator
Wiitrac Elevator
Dong Yang Elevator
Nibav Lifts

KEY QUESTIONS ANSWERED:

1.How big is the Malaysia elevator and escalator market?

2.What will the growth rate be in the Malaysia elevator and escalator market?

3.What is the number of installed bases in the Malaysia elevator and escalator market in 2023?

4.What factors drive the maintenance segment in the Malaysia elevator and escalator industry?

5.What are the key Malaysia elevator and escalator market players?

Product Code: ARZCE240202

1.Introduction

1.1.Market Overview
1.2.Market Snapshot of Elevators
1.3.Market Snapshot of Escalators
1.4.Executive Summary

2.Malaysia Elevators Market

2.1.Future Outlook -Malaysia Elevator Market By Volume
2.2.Malaysia Escalators Market- By Segments
- 2.2.1.Malaysia Escalators Market, By Volume
  - 2.2.1.1.Malaysia Escalators Market Size and Forecast, Volume (Units in Thousand), 2020-2029
- 2.2.2.Malaysia Elevators Market, By Type
  - 2.2.2.1.Hydraulic and Pneumatic, Market Size and Forecast, Volume (Units),2020-2029
  - 2.2.2.2.Machine Room Traction, Market Size and Forecast, Volume (Units), 2020-2029
  - 2.2.2.3.Machine Room Less Traction, Market Size and Forecast, Volume (Units), 2020-2029
  - 2.2.2.4.Others, Market Size and Forecast, Volume (Units), 2020-2029
- 2.2.3.Malaysia Elevators & Escalators Market by Carriage Type
  - 2.2.3.1.Passenger, Market Size and Forecast, Volume (Units), 2020-2029
  - 2.2.3.2.Freight, Market Size and Forecast, Volume (Units), 2020-2029
- 2.2.4.Malaysia Elevators Market by Persons
  - 2.2.4.1.2-15 Persons, Market Size and Forecast, Volume (Units), 2020-2029
  - 2.2.4.2.16-24 Persons, Market Size and Forecast, Volume (Units), 2020-2029
  - 2.2.4.3.25-33 Persons, Market Size and Forecast, Volume (Units), 2020-2029
  - 2.2.4.4.34 Persons and Above, Market Size and Forecast, Volume (Units), 2020-2029
- 2.2.5.Malaysia Elevators Market by End Users
  - 2.2.5.1.Commercial, Market Size and Forecast, Volume (Units), 2020-2029
  - 2.2.5.2.Residential, Market Size and Forecast, Volume (Units), 2020-2029
  - 2.2.5.3.Industrial, Market Size and Forecast, Volume (Units), 2020-2029
  - 2.2.5.4.Others, Market Size and Forecast, Volume (Units), 2020-2029

3.Malaysia Escalators Market

3.1.Future Outlook - Malaysia Escalators Market by Volume
3.2.Malaysia Escalators Market- By Segments
- 3.2.1.Malaysia Escalators Market, By Volume
  - 3.2.1.1.Malaysia Escalators Market Size and Forecast, Volume (Units), 2020-2029
- 3.2.2.Malaysia Escalator Market by Type
  - 3.2.2.1.Parallel, Market Size and Forecast, Volume (Units), 2020-2029
  - 3.2.2.2.Multi-parallel, Market Size and Forecast, Volume (Units), 2020-2029
  - 3.2.2.3.Walkway, Market Size and Forecast, Volume (Units), 2020-2029
  - 3.2.2.4.Crisscross, Market Size and Forecast, Volume (Units), 2020-2029
- 3.2.3.Malaysia Escalator Market by End Users
  - 3.2.3.1.Commercial, Market Size and Forecast, Volume (Units), 2020-2029
  - 3.2.3.2.Public Transit, Market Size and Forecast, Volume (Units), 2020-2029
  - 3.2.3.3.Others, Market Size and Forecast, Volume (Units), 2020-2029

4.Malaysia Elevators &Escalators Market, By Service (Maintenance & Modernization)

5.Geographical Analysis

5.1.Key Economic Countries in Malaysia

6.Market Dynamics

6.1.Market Drivers, Opportunities, Restraints, Trends

7.Technological Development

8.Competitive Landscape

8.1.Company Profile of Major Vendors
8.2.Other Prominent Vendors

9.Report Summary

9.1.List of Abbreviations

10.Appendix (Report Scope & Definition)

10.1.Research Methodology
10.2.Market Definition, Inclusion & Exclusion

Product Code: ARZCE240202

List Of Exhibits

LIST OF EXHIBITS

1.Malaysia Elevator & Escalator Installed Base by Volume 2019-2029 (Units)

2.Malaysia Elevator & Escalator New Installations by Volume 2019-2029 (Units)

3.Market Share 2023: Maintenance

4.Market Share 2023: Modernization

5.Malaysia Installed Base: Volume (Units in Thousands)

6.Malaysia New Installations: Volume (Units in Thousands)

7.Installed base of elevators by volume (units in thousands)

8.New Installations of elevators by volume (units in thousands)

9.Maintenance & Modernization Value($Million)

10.Maintenance & Modernization 2023(%)

11.Installed base of escalators by volume (units in thousand)

12.New Installations of escalators by volume (units in thousand)

13.Maintenance & Modernization Value($Million)

14.Maintenance & Modernization 2023(%)

15.Installed base and New installations of Elevators (Units)

16.New Installations of Elevators (Units)

17.Extended life cycle of Elevators

18.Average Life Expectancy Of Elevator Components

19.Hydraulic & Pneumatic Elevators Installed base and New Installations (Units)

20.Machine Room less Traction Elevators Installed base and New Installations (Units)

21.Machine Room Traction Elevators Installed base and New Installations (Units)

22.Others Machine Elevators Installed base and New Installation (Units)

23.Installed base and new installations of Passenger Elevators (Units)

24.Installed base and new installations of Freight Elevators (Units)

25.Installed base and new installations of 2-15 person elevators (Units)

26.Installed base and new installations of 16-24 person elevators (Units)

27.Installed base and new installations of 25-33 person elevators (Units)

28.Installed base and new installations of 34 persons and above elevators (Units)

29.Installed base and new installations of Commercial Elevators (Units)

30.Installed base and new installations of Residential Elevators (Units)

31.Installed base and new installations of Industrial Elevators (Units)

32.Installed base and new installations of other end-user Elevators (units)

33.Installed base and new installations of escalators (Units)

34.New installations of escalators (Units)

35.Installed base and new installations of Parallel Escalators (Units)

36.Installed base and new installations of Multi parallel Escalators (Units)

37.Installed base and new installations of Moving Walkway Escalators (Units)

38.Installed base and new installations of crisscross Escalators (units)

39.Installed base and new installations of Public Transit Escalators (Units)

40.Installed base and new installations of Commercial Escalators (Units)

41.Installed base and new installations of Other End-user Escalators (units)

42.Malaysia Elevators & Escalators Maintenance Market ($ Bn)

43.Malaysia Elevators & Escalators Modernization Market ($ Bn)

44.Elevators and Escalators market: Geographic Analysis 2023

45.Property Transactions trend 2019-2022

46.Market share 2022(% share)

47.Mitsubishi, total sales by segment2022(%share)

48.Schindler, total sales 2017-2022($billion)

49.TKE total sales 2020-2022($billion)

50.KONE, total sales by segment 2022(%share)

51.Hitachi Total Sales by Segment 2022(% Share)

52.Otis total sales 2020-2022($billion)

53.Fujitec net sales 2017-2022($billion)

List Of Tables

LIST OF TABLES