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After a temporary fall in sales in years 2020 and 2021, the global market for Elevators and Escalators is projected to reach US$80.1 billion by 2027. The pandemic triggered serious economic uncertainties will impact this market in the short term. Manufacturing PMI is falling below the 50 points indicating contraction, real gross domestic product (GDP) is plummeting in countries worldwide as lockdowns and quarantines take their toll on economic activity, employment rates have already fallen by 3. 8% pushing millions into unemployment, new orders for manufacturing firms are witnessing painful declines as procurement plans get postponed in response to growing fears of a recession, with consumer confidence hitting rock bottom amidst the crisis demand for consumer goods has and will continue to be impacted. The energy and transportation sectors are coming out as the biggest losers as a result of the decline in economic activity. The world is now preparing for the worst-ever recession. The construction industry is no exception. Investments on the building construction and infrastructure across industries including residential, commercial, industrial and institutional verticals are slowing down. Lockdowns and disruptions in labor supply are impacting construction projects with workers unable to get to work/project sites. Disruptions in delivery of key materials and equipment are halting activities on current project sites. Disruptions in economic and business activity are pushing the world into a recession, which threatens to virtually annihilate new orders for construction companies. As economies bleed from the pandemic, the financial collapse will impact businesses and investors across a wide range of sectors. The decline in public and private investments on new constructions will wield short-term pain for manufacturers of elevators and escalators.
The long-term outlook however remains more optimistic with the post COVID-19 period expected to bring all the market`s fundamental growth drivers into play. These include urbanization, demographic transformations, environmental protection and safety. The global population is estimated to grow to 8. 9 billion by 2050, representing an increase of 47% from the 6. 1 billion in 2000. Life expectancy will continuously rise worldwide. During the next few decades, the number of people aged 65 years and above is estimated to increase by nearly 33%, while increase in people in the age group of above 80 years will be two times the present number. As the average age of the population increases, accessibility becomes the key factor, necessitating all multi-floor buildings to be provided with vertical transportation systems such as escalators, elevators, stair lifts, and platform lifts. Advancements in technology will help manufacturers to offer sophisticated escalators and elevators with attractive features and improved designs. Elevators with music playback, LED displays, and elevators that provide users with bird`s eye-view of the entire city during transit will re-emerge to be in demand amonghigh-end corporate and commercial complexes and 5-star hotels. Strong focus will be shed on energy and the environment. Environmental Product Declarations and Life Cycle Assessments are already becoming mandatory for manufacturers. `Green` infrastructure statutory requirements and standards across the globe will spur demand for replacing traditional elevator systems in existing buildings.
The global analysis and forecast periods covered within the report are 2020-2027 (Current & Future Analysis) and 2012-2019 (Historic Review). Research estimates are provided for 2020, while research projections cover the period 2021-2027.
The long-term outlook however remains more optimistic with the post COVID-19 period expected to bring all the market`s fundamental growth drivers into play. These include urbanization, demographic transformations, environmental protection and safety. The global population is estimated to grow to 8. 9 billion by 2050, representing an increase of 47% from the 6. 1 billion in 2000. Life expectancy will continuously rise worldwide. During the next few decades, the number of people aged 65 years and above is estimated to increase by nearly 33%, while increase in people in the age group of above 80 years will be two times the present number. As the average age of the population increases, accessibility becomes the key factor, necessitating all multi-floor buildings to be provided with vertical transportation systems such as escalators, elevators, stair lifts, and platform lifts. Advancements in technology will help manufacturers to offer sophisticated escalators and elevators with attractive features and improved designs. Elevators with music playback, LED displays, and elevators that provide users with bird`s eye-view of the entire city during transit will re-emerge to be in demand amonghigh-end corporate and commercial complexes and 5-star hotels. Strong focus will be shed on energy and the environment. Environmental Product Declarations and Life Cycle Assessments are already becoming mandatory for manufacturers. `Green` infrastructure statutory requirements and standards across the globe will spur demand for replacing traditional elevator systems in existing buildings.
The global analysis and forecast periods covered within the report are 2020-2027 (Current & Future Analysis) and 2012-2019 (Historic Review). Research estimates are provided for 2020, while research projections cover the period 2021-2027.
Note: Product cover images may vary from those shown
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I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Impact of Covid-19 and a Looming Global Recession
A Prelude to Elevators and Escalators
Elevators
Escalators
Elevators and Escalators: Current Market Scenario and Outlook
Growth Drivers in a Nutshell
Mega Trends Benefiting E&E Demand Summarized
Key Factors Influencing Market Growth: Ranked in the Order of Importance
Developing Countries Dominate New Installations and Spearhead Market Growth
Global Elevators and Escalators Market - Geographic Regions Ranked by Value CAGR for 2020-2027
Recent Market Activity
Competitive Landscape
Competition: Noteworthy Trends
What Does It Take to Survive in the Marketplace?
Key Challenges Hampering Profitability of Market Participants
Online Marketplace: The New Distribution Vertical
Select Innovations & Advancements
Global Competitor Market Shares
Elevators and Escalators Competitor Market Share Scenario Worldwide (in %): 2020 & 2029
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
Smart Elevators & Escalators Come to the Fore Offering New Level of Performance
Global Smart Elevators Market - Annual Revenue Figures in US$ Billion for Years 2018, 2020, and 2024
Growth Drivers Summarized
Smart, Intelligent Elevators with Connected Technologies
Upcoming Smart Cities to Fuel Large-Scale Adoption of Smart Elevators and Escalators
At the Core of Smart Cities Are Smart Elevator Solutions that Help in the Creation of Smart Outcomes for Citizens & Communities: Global Market for Smart City Technologies (Hardware, Software, and Services) In US$ Million for the Years 2017 & 2020
Innovations Make Vertical Transportation Intelligent, Faster, Safer and More Comfortable
Faster Moving, High-Speed Elevators: The Essential Requirement for Modern Skyscrapers
Elevators to Attain New Heights of Sustainability amidst Rising Environmental Awareness
Building Developers Emphasize High-Quality Elevators to Improve Operational Efficiency & Sustainability
Recent Sustainability Initiatives of Vertical Transit System Manufacturers
Advanced Technology to Enable Sustainable Systems
The ‘Green Infrastructure’ Trend & Favorable Regulations Spur Demand for ‘Green’ Elevators
Elevator Technologies for “Green” Buildings
Urbanization Drive: Prime Factor Steering Momentum in the E&E Market
World Urban Population in Thousands: 1950-2050
Degree of Urbanization Worldwide: Urban Population as a % of Total Population by Geographic Region for the Years 1950, 1970, 1990, 2018, 2030 and 2050
Select Mega-Urban Regions Worldwide (2035*)
Global Value of Megacity Construction Projects (US$ Billion) in 2019
Percentage of Population Living in Apartments for Select Countries: 2019
IoT, AI & Other New Generation Digital Technologies to Transform Functionality and Efficiency of Modern Elevators
Digitalization Aids Progressive Enhancements
Modernization Initiatives and Replacement Demand Steer Overall Growth in E&E Market
Massive Investments on High Rise Buildings & Skyscrapers Accelerate Market Growth
Shift in the World’s Tallest Buildings from Western Countries to Developing Countries
China Leads Skyscraper Projects Worldwide
Elevator Density for Major Countries Worldwide (2019): Number of Elevator Units for Thousand Individuals
New Elevators and Escalators (E&E) Demand in China by City Category (2010 & 2020): Percentage Breakdown of Unit Sales for Tier 1, Tier 2, Tier 3 and Tier 4 Cities
New Elevators and Escalators (E&E) Demand in China by End-use Sector (2010 & 2020): Percentage Breakdown of Unit Sales for Residential, and Non-Residential
Top 25 Under-Construction Super Tall Buildings Worldwide: Rank, Building, City, Country, Height (in Meters), Floors, and Year of Completion
Top 25 Completed Super Tall Buildings Worldwide (2019): Rank, Building, City, Country, Height (in Meters), Floors, and Year of Completion
Top 25 Proposed Super Tall Buildings Worldwide (2018): Rank, Building, City, Country, Height (in Meters), Floors, and Year of Completion
Enhanced Child Security: Need of the Hour
Aesthetics: An Essential Factor Aiding Market Growth
Maintenance: The Segment with the Highest Growth Potential
Elevator Maintenance: Past, Present, and the Future
Escalator and Elevator Maintenance Gets an “Intelligent” Makeover
In-home Elevators Grow in Popularity
Population Growth, Expanding Middle Class, and Rising Living Standards Strengthen Market Prospects
World Population (in Thousands) by Geographic Region for the Years 2019, 2030, 2050, 2100
Aging Population: A Weighty Growth Driver
Global Aging Population Statistics for the 65+ Age Group in Million by Geographic Region for the Years 2019, 2025, 2035 and 2050
Burgeoning Middle Class
Global Middle Class Population (In Million) by Region for the Years 2020, 2025 and 2030
Global Middle Class Spending (US$ Trillion) by Region for the Years 2020, 2025, 2030
Rising Standards of Living
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
GEOGRAPHIC MARKET ANALYSIS
UNITED STATES
Construction Activity Drives Market Growth
Construction Industry in the US by Sector (2016-2022): Breakdown of Value (US$ Million) for Residential Buildings, Non-Residential Buildings, and Non-Building Structures
Residential Construction in the US (2008-2020): Number of Housing Starts by Type - Single-Family Units and Multi-Family Units (in ‘000)
US Non-Residential Construction Market by Segment (2020): Percentage Share Breakdown of Investments for Commercial & Office, Industrial & Others, and Institutional
US Private Non-Residential Construction Market by Sector (2020): Percentage Breakdown of Construction Spend for Commercial, Communication, Education, Healthcare, Lodging, Manufacturing, Office, Power and Others
Growing Prominence of Smart Homes Benefit Demand for Smart Elevators
Aging Installed Base and Focus on Energy Efficient Green Infrastructure to Drive Replacement Demand
Green and LEED Construction Spending ($ Million) in the US: 2010-2018
Market Analytics
CANADA
JAPAN
Disaster Recovery Efforts Drive Housing and E&E Market Growth
Growing Preference for High-Speed Elevators Benefits Market Expansion
Smart Elevators to Detect Seismic Activity
Toilets to Soon Be Part of Japanese Elevators
Market Analytics
CHINA
Need to Support Increasing Urban Density Drives Strong Growth in Demand
Elevator Units in Operation in China that are More than 15 Years Old: 2015-2020
China: The World’s Largest Construction Market Represents a Major Market for Elevators and Escalators
Chinese Construction Industry: Market Size (US$ Billion) for the Period 2016-2022
New Housing Construction Completion in China: 2015-2020
The Race for Installing the Fastest Elevators Shift to China
Competitive Landscape
Leading Elevator and Escalator Companies in China (2019): Percentage Unit Market Share by Company
Market Analytics
EUROPE
Europe: A Mature yet Growing Market for Elevators and Escalators
One of the Leading Smart Elevators Markets in the World
Aging Elevators & Escalators Shift Focus on Modernization
Market Analytics
FRANCE
Market Overview
Market Analytics
GERMANY
Growing Popularity of Smart Elevators Augurs Well for the Market
Focus on Addressing Vertical Transportation Needs of Smart Buildings and Structures Drive Market Growth
Launch of Cable-Free Vertically and Horizontally Moving Elevator System in Germany
Local Small and Medium-sized Enterprises (SMEs) Dominate E&E Market
Market Share of Leading Elevator and Escalator Companies in Germany (2019)
Market Analytics
ITALY
An Overview
Market Analytics
UNITED KINGDOM
Construction Activity Promotes Market Demand
Growing Affluent Aging Populace Spurs Demand for Incline Elevators, Stairlifts, and Home Lifts
Market Analytics
SPAIN
Replacement and Modernization of Aged Installed Elevators to Sustain Market Growth
Market Analytics
RUSSIA
An Overview
Market Analytics
REST OF EUROPE
ASIA-PACIFIC
AUSTRALIA
A Growing Market for Elevators and Escalators
Market Analytics
INDIA
Increasing Number of High-Rise Buildings in Mushrooming Mega Cities Drive Demand
Indian Market for Elevators and Escalators (E&E) (2020): Percentage Breakdown of Unit Sales by End-use Sector
Machine Room-Less (MRL) and Gearless Elevators Grow in Preference over Conventional Elevators
Growing Demand for Smart Elevators Bodes Well for the Market
Competitive Landscape
Leading Players in Indian Elevators and Escalators Market (2020): Percentage Unit Market Share by Company
Market Analytics
SOUTH KOREA
The Well-Penetrated Market Focus on Energy Efficiency and Eco-Friendliness
Market Analytics
REST OF ASIA-PACIFIC
LATIN AMERICA
ARGENTINA
BRAZIL
MEXICO
REST OF LATIN AMERICA
MIDDLE EAST
IRAN
ISRAEL
SAUDI ARABIA
UNITED ARAB EMIRATES
REST OF MIDDLE EAST
AFRICA
IV. COMPETITION
Total Companies Profiled: 114
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Impact of Covid-19 and a Looming Global Recession
A Prelude to Elevators and Escalators
Elevators
Escalators
Elevators and Escalators: Current Market Scenario and Outlook
Growth Drivers in a Nutshell
Mega Trends Benefiting E&E Demand Summarized
Key Factors Influencing Market Growth: Ranked in the Order of Importance
Developing Countries Dominate New Installations and Spearhead Market Growth
Global Elevators and Escalators Market - Geographic Regions Ranked by Value CAGR for 2020-2027
Recent Market Activity
Competitive Landscape
Competition: Noteworthy Trends
What Does It Take to Survive in the Marketplace?
Key Challenges Hampering Profitability of Market Participants
Online Marketplace: The New Distribution Vertical
Select Innovations & Advancements
Global Competitor Market Shares
Elevators and Escalators Competitor Market Share Scenario Worldwide (in %): 2020 & 2029
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
Smart Elevators & Escalators Come to the Fore Offering New Level of Performance
Global Smart Elevators Market - Annual Revenue Figures in US$ Billion for Years 2018, 2020, and 2024
Growth Drivers Summarized
Smart, Intelligent Elevators with Connected Technologies
Upcoming Smart Cities to Fuel Large-Scale Adoption of Smart Elevators and Escalators
At the Core of Smart Cities Are Smart Elevator Solutions that Help in the Creation of Smart Outcomes for Citizens & Communities: Global Market for Smart City Technologies (Hardware, Software, and Services) In US$ Million for the Years 2017 & 2020
Innovations Make Vertical Transportation Intelligent, Faster, Safer and More Comfortable
Faster Moving, High-Speed Elevators: The Essential Requirement for Modern Skyscrapers
Elevators to Attain New Heights of Sustainability amidst Rising Environmental Awareness
Building Developers Emphasize High-Quality Elevators to Improve Operational Efficiency & Sustainability
Recent Sustainability Initiatives of Vertical Transit System Manufacturers
Advanced Technology to Enable Sustainable Systems
The ‘Green Infrastructure’ Trend & Favorable Regulations Spur Demand for ‘Green’ Elevators
Elevator Technologies for “Green” Buildings
Urbanization Drive: Prime Factor Steering Momentum in the E&E Market
World Urban Population in Thousands: 1950-2050
Degree of Urbanization Worldwide: Urban Population as a % of Total Population by Geographic Region for the Years 1950, 1970, 1990, 2018, 2030 and 2050
Select Mega-Urban Regions Worldwide (2035*)
Global Value of Megacity Construction Projects (US$ Billion) in 2019
Percentage of Population Living in Apartments for Select Countries: 2019
IoT, AI & Other New Generation Digital Technologies to Transform Functionality and Efficiency of Modern Elevators
Digitalization Aids Progressive Enhancements
Modernization Initiatives and Replacement Demand Steer Overall Growth in E&E Market
Massive Investments on High Rise Buildings & Skyscrapers Accelerate Market Growth
Shift in the World’s Tallest Buildings from Western Countries to Developing Countries
China Leads Skyscraper Projects Worldwide
Elevator Density for Major Countries Worldwide (2019): Number of Elevator Units for Thousand Individuals
New Elevators and Escalators (E&E) Demand in China by City Category (2010 & 2020): Percentage Breakdown of Unit Sales for Tier 1, Tier 2, Tier 3 and Tier 4 Cities
New Elevators and Escalators (E&E) Demand in China by End-use Sector (2010 & 2020): Percentage Breakdown of Unit Sales for Residential, and Non-Residential
Top 25 Under-Construction Super Tall Buildings Worldwide: Rank, Building, City, Country, Height (in Meters), Floors, and Year of Completion
Top 25 Completed Super Tall Buildings Worldwide (2019): Rank, Building, City, Country, Height (in Meters), Floors, and Year of Completion
Top 25 Proposed Super Tall Buildings Worldwide (2018): Rank, Building, City, Country, Height (in Meters), Floors, and Year of Completion
Enhanced Child Security: Need of the Hour
Aesthetics: An Essential Factor Aiding Market Growth
Maintenance: The Segment with the Highest Growth Potential
Elevator Maintenance: Past, Present, and the Future
Escalator and Elevator Maintenance Gets an “Intelligent” Makeover
In-home Elevators Grow in Popularity
Population Growth, Expanding Middle Class, and Rising Living Standards Strengthen Market Prospects
World Population (in Thousands) by Geographic Region for the Years 2019, 2030, 2050, 2100
Aging Population: A Weighty Growth Driver
Global Aging Population Statistics for the 65+ Age Group in Million by Geographic Region for the Years 2019, 2025, 2035 and 2050
Burgeoning Middle Class
Global Middle Class Population (In Million) by Region for the Years 2020, 2025 and 2030
Global Middle Class Spending (US$ Trillion) by Region for the Years 2020, 2025, 2030
Rising Standards of Living
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
GEOGRAPHIC MARKET ANALYSIS
UNITED STATES
Construction Activity Drives Market Growth
Construction Industry in the US by Sector (2016-2022): Breakdown of Value (US$ Million) for Residential Buildings, Non-Residential Buildings, and Non-Building Structures
Residential Construction in the US (2008-2020): Number of Housing Starts by Type - Single-Family Units and Multi-Family Units (in ‘000)
US Non-Residential Construction Market by Segment (2020): Percentage Share Breakdown of Investments for Commercial & Office, Industrial & Others, and Institutional
US Private Non-Residential Construction Market by Sector (2020): Percentage Breakdown of Construction Spend for Commercial, Communication, Education, Healthcare, Lodging, Manufacturing, Office, Power and Others
Growing Prominence of Smart Homes Benefit Demand for Smart Elevators
Aging Installed Base and Focus on Energy Efficient Green Infrastructure to Drive Replacement Demand
Green and LEED Construction Spending ($ Million) in the US: 2010-2018
Market Analytics
CANADA
JAPAN
Disaster Recovery Efforts Drive Housing and E&E Market Growth
Growing Preference for High-Speed Elevators Benefits Market Expansion
Smart Elevators to Detect Seismic Activity
Toilets to Soon Be Part of Japanese Elevators
Market Analytics
CHINA
Need to Support Increasing Urban Density Drives Strong Growth in Demand
Elevator Units in Operation in China that are More than 15 Years Old: 2015-2020
China: The World’s Largest Construction Market Represents a Major Market for Elevators and Escalators
Chinese Construction Industry: Market Size (US$ Billion) for the Period 2016-2022
New Housing Construction Completion in China: 2015-2020
The Race for Installing the Fastest Elevators Shift to China
Competitive Landscape
Leading Elevator and Escalator Companies in China (2019): Percentage Unit Market Share by Company
Market Analytics
EUROPE
Europe: A Mature yet Growing Market for Elevators and Escalators
One of the Leading Smart Elevators Markets in the World
Aging Elevators & Escalators Shift Focus on Modernization
Market Analytics
FRANCE
Market Overview
Market Analytics
GERMANY
Growing Popularity of Smart Elevators Augurs Well for the Market
Focus on Addressing Vertical Transportation Needs of Smart Buildings and Structures Drive Market Growth
Launch of Cable-Free Vertically and Horizontally Moving Elevator System in Germany
Local Small and Medium-sized Enterprises (SMEs) Dominate E&E Market
Market Share of Leading Elevator and Escalator Companies in Germany (2019)
Market Analytics
ITALY
An Overview
Market Analytics
UNITED KINGDOM
Construction Activity Promotes Market Demand
Growing Affluent Aging Populace Spurs Demand for Incline Elevators, Stairlifts, and Home Lifts
Market Analytics
SPAIN
Replacement and Modernization of Aged Installed Elevators to Sustain Market Growth
Market Analytics
RUSSIA
An Overview
Market Analytics
REST OF EUROPE
ASIA-PACIFIC
AUSTRALIA
A Growing Market for Elevators and Escalators
Market Analytics
INDIA
Increasing Number of High-Rise Buildings in Mushrooming Mega Cities Drive Demand
Indian Market for Elevators and Escalators (E&E) (2020): Percentage Breakdown of Unit Sales by End-use Sector
Machine Room-Less (MRL) and Gearless Elevators Grow in Preference over Conventional Elevators
Growing Demand for Smart Elevators Bodes Well for the Market
Competitive Landscape
Leading Players in Indian Elevators and Escalators Market (2020): Percentage Unit Market Share by Company
Market Analytics
SOUTH KOREA
The Well-Penetrated Market Focus on Energy Efficiency and Eco-Friendliness
Market Analytics
REST OF ASIA-PACIFIC
LATIN AMERICA
ARGENTINA
BRAZIL
MEXICO
REST OF LATIN AMERICA
MIDDLE EAST
IRAN
ISRAEL
SAUDI ARABIA
UNITED ARAB EMIRATES
REST OF MIDDLE EAST
AFRICA
IV. COMPETITION
Total Companies Profiled: 114
Note: Product cover images may vary from those shown
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