Market Research Report
Global Elevator & Escalator Market By Type, By Service, By Elevator Technology, By End-User, By Elevator Door Type, By Region, Competition Forecast & Opportunities, 2025
|Published by||TechSci Research||Product code||963433|
|Published||Content info||444 Pages
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|Global Elevator & Escalator Market By Type, By Service, By Elevator Technology, By End-User, By Elevator Door Type, By Region, Competition Forecast & Opportunities, 2025|
|Published: October 1, 2020||Content info: 444 Pages||
Global Elevator & Escalator Market By Type (Elevator, Escalator, Moving Walk Ways), By Service (New Installation, Modernization, Maintenance & Repair), By Elevator Technology (Hydraulic, Traction & Machine Room-Less Traction), By End-User (Residential, Commercial, Institutional, Infrastructural and Others), By Elevator Door Type (Automatic and Manual), By Region, Competition Forecast & Opportunities, 2025.
Global elevator & escalator market is projected to grow from $ 85 billion in 2019 to around $ 105 billion by 2025, owing to the rising development of high-rise commercial and residential buildings, increasing capital inflow into the real-estate sector, and growing infrastructure development and construction activities. Moreover, improving after sales services, proactive maintenance & modernization of equipment and use of UltraRope elevator technology for high-rise buildings are expected to positively influence the global elevator & escalator market in the coming years.
In terms of type, the market can bifurcate into Elevator, Escalator & Moving Walkways. Elevators dominated the market in 2019 and the segment is expected to maintain its market dominance during the forecast period, backed by the wide usage in residential sector. By elevator technology, the market is segmented into Hydraulic, Traction & Machine Room-Less Traction. Traction & Machine room less traction is the widely used elevator technology, globally, owing to its better safety features, low maintenance cost and high energy efficiency compared to other technologies.
Based on service, the market can be segmented into Maintenance & Repair, New Installation and Modernization. Maintenance and Repair service segment accounts for the largest market share, due to the increasing repair, reconstruction, and rehabilitation activities of existing infrastructure along with strict government safety norms in Europe and North America. Market players are increasingly focusing on long-term maintenance and repair contracts.
Asia-Pacific is the largest contributor with over 40% value share in 2019 in the global elevator and escalator market. China is the largest contributing country in the region, followed by Japan, South Korea and India. Growing urbanization and infrastructure projects in China are contributing to the country's leading market position. In India, the government initiatives such as National Industrial Corridor Program, Housing for All and Smart City Projects are expected to strengthen the demand for elevators and escalators in the country over the next five years.
To analyze and forecast global elevator & escalator market, both top-down and bottom-up approaches have been used. Multiple employees from the leading companies have been interviewed through telephonic conversations to extract and verify the information being collected at the source. A brief study of the major players operating in global elevator & escalator market was also undertaken. Moreover, a detailed and in-depth scrutiny of information was done to understand each policy and external or internal factor which could increase or decrease the demand for elevators & escalators, globally. To extract data, primary surveys were conducted with key players and stakeholders in the industry. The future plans of major players were studied and projects which have commissioned in the country were identified.
Various secondary sources such as white papers and secondary literature on elevators & escalators, National Bureau of Statistics of China, Central Statistics Office India, Canada Statistics, MEED, General Authority for Statistics of Saudi Arabia, European Lift Association, annual reports, investor presentation, International Monetary Fund and World Bank were also studied by TechSci Research.
The study is essential in delivering useful information to industry stakeholders such as manufacturing companies, assembling companies, distributors and end users related to elevator & escalator market. The report also provides useful insights about which market segments should be targeted over the coming years in order to strategize investments and capitalize on growth opportunities in specific market segments and geographies.
In this report, global elevator & escalator market has been segmented into the following categories in addition to the industry trends which have also been listed below:
Company Profiles: Detailed analysis of the major companies present in global elevator & escalator market.
Voice of Customer: Brand Awareness, Brand Satisfaction, Price, Availability, and Annual Maintenance Service, are the major factors affecting decision related to elevators and escalator for various users, globally.
With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report: