Singapore Elevators and Escalators Market Segmented by Type (Elevator, Escalator and Moving Walkways), By Elevator Door Type (Automatic vs. Manual), By Elevator Technology, By Service, By End User, By Region, Competition Forecast & Opportunities, 2017-2027

The Singapore Elevators and Escalators Market valued at USD578.95 million in 2021 and is anticipated to further grow with a CAGR of 7.90% during the forecast period, 2023-2027, to reach market value of USD919.21 million by 2027F. Advancing facilities in infrastructure and growing construction of sky-high buildings are facilitating the growth of the Singapore Elevators and Escalators Market in the upcoming five years. Also, concept of smart building with advanced features and increasing urbanization in the country are further driving the growth of the Singapore Elevators and Escalators Market. Increasing use of internet of things, and artificial intelligence being incorporated in the products like elevators and escalators also supports the growth of the Singapore Elevators and Escalators Market in the future five years. The major market players active in the country are highly investing technological advancement in their products and are focusing on customer satisfaction through product advancement. Moreover, higher energy efficiency, lighter and more design options, optimal use of hoist-way space are some of the other factors contributing to the demand for elevators & escalator.



The Singapore Elevators and Escalators Market is segmented by type, service, end-user, regional distribution, and competitional landscape. Based on type, the market is further segmented into elevator, escalator, and moving walkways. Elevators subsegment is further divided into elevator door types that are either automatic or manual, and elevator technology that includes traction, machine room-less traction, and hydraulic. Based on service the market is fragmented into modernization and maintenance & repair, and new installation. By end-user, the market is segmented into residential, commercial, infrastructural, institutional, and others. The market analysis also studies the regional segmentation, divided among Central, North-East, East, West and North region. Elevators are anticipated to hold the largest revenue shares of the market and dominate the type segment in the upcoming five years on account of increasing number of high rise building and tall infrastructures. Surge in the demands for energy efficient elevators is also driving the growth of the market in the next five years.

Chevalier Singapore Holdings Pte. Ltd., Fujitec Singapore Corpn. Ltd., TK Elevator Singapore Pte. Ltd., EM Services Pte. Ltd., C&W Services (S) Pte. Ltd., Kone Pte. Ltd., Schindler Lifts (Singapore) Pte. Ltd., Mitsubishi Elevator (Singapore) Pte. Ltd., Otis Elevator Company (S) Pte Ltd, Hitachi Elevator Asia Pte. Ltd. are among the major market players in the Singapore Elevators and Escalators Market.

Years considered for this report:

• Historical Years: 2017 - 2020
• Base Year: 2021
• Estimated Year: 2022E
• Forecast Period: 2023F- 2027F

Objective of the Study:

• To analyze the historical growth in the market size of the Singapore Elevators and Escalators Market from 2017 to 2021.
• To estimate and forecast the market size of the Singapore Elevators and Escalators Market from 2022E to 2027F and growth rate until 2027F.
• To classify and forecast the Singapore Elevators and Escalators Market based on type, service, end-user, regional distribution, and competitional landscape.
• To identify dominant region or segment in the Singapore Elevators and Escalators Market.
• To identify drivers and challenges for the Singapore Elevators and Escalators Market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Singapore Elevators and Escalators Market.
• To identify and analyze the profile of leading players operating in the Singapore Elevators and Escalators Market.
• To identify key sustainable strategies adopted by the market players in the Singapore Elevators and Escalators Market.

The publisher performed both primary as well as exhaustive secondary research for this study. Initially, the publisher sourced a list of manufacturers across the country. Subsequently, the publisher conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, the publisher could include the manufacturers which could not be identified due to the limitations of secondary research. The publisher analyzed the manufacturers, distribution channels and presence of all major players across the country.

The publisher calculated the market size of the Singapore Elevators and Escalators Market by using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. The publisher sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these products and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied.

Key Target Audience:

• Manufacturers, suppliers, distributors and other stakeholders
• Government bodies such as regulating authorities and policy makers
• Organizations, forums and alliances related to elevators & escalators
• Market research and consulting firms

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers, partners, end-users, etc., besides allowing them in strategizing investments and capitalizing on the market opportunities.

Report Scope:

In this report, the Singapore Elevators and Escalators Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

Singapore Elevators and Escalators Market, By Type:

• Elevator
• Escalator
• Moving Walkways

Singapore Elevators and Escalators Market, By Elevator Door Type:

• Automatic
• Manual

Singapore Elevators and Escalators Market, By Elevator Technology:

• Traction
• Machine Room-Less Traction
• Hydraulic

Singapore Elevators and Escalators Market, By Service:

• Modernization and Maintenance & Repair
• New Installation

Singapore Elevators and Escalators Market, By End-User:

• Residential
• Commercial
• Infrastructural
• Institutional
• Others

Singapore Elevators and Escalators Market, By Region:

• Central Region
• North-East Region
• East Region
• West Region
• North Region

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Singapore Elevators and Escalators Market.

Available Customizations:

With the given market data, the publisher offers customizations according to a company’s specific needs.

Please note: With the Enterprise license, the PDF product is printable and editable and comes with a market data excel sheet.