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Elevators and Escalators - Global Market Trajectory & Analytics

  • ID: 338708
  • Report
  • April 2021
  • Region: Global
  • 560 Pages
  • Global Industry Analysts, Inc
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.

Select Competitors (Total 114 Featured):
  • Canny Elevator Co., Ltd.
  • Fujitec Co., Ltd.
  • Hitachi Ltd.
  • Hyundai Elevators Co., Ltd.
  • Johnson Lifts Private Limited
  • Kleemann Hellas S.A.
  • KONE Oyj
  • Mitsubishi Electric Corporation
  • Shanghai Mitsubishi Elevator Co., Ltd. (SMEC)
  • Otis Elevator Company
  • Otis Electric Elevator Co., Ltd.
  • Sigma Elevator Company Limited
  • Savaria Corporation
  • Schindler Group
  • SJEC Corporation
  • ThyssenKrupp Elevator AG
  • Toshiba Elevator and Building Systems Corporation
  • Yungtay Engineering Co. Ltd.
Note: Product cover images may vary from those shown
I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • 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
  • Exhibit 1: 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
2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS
  • Smart Elevators & Escalators Come to the Fore Offering New Level of Performance
  • Exhibit 2: 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
  • Exhibit 3: 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
  • Exhibit 4: World Urban Population in Thousands: 1950-2050
  • Exhibit 5: 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*)
  • Exhibit 6: Global Value of Megacity Construction Projects (US$ Billion) in 2019
  • Exhibit 7: 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
  • Exhibit 8: Elevator Density for Major Countries Worldwide (2019): Number of Elevator Units for Thousand Individuals
  • Exhibit 9: 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
  • Exhibit 10: 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
  • Exhibit 11: Top 25 Under-Construction Super Tall Buildings Worldwide: Rank, Building, City, Country, Height (in Meters), Floors, and Year of Completion
  • Exhibit 12: Top 25 Completed Super Tall Buildings Worldwide (2019): Rank, Building, City, Country, Height (in Meters), Floors, and Year of Completion
  • Exhibit 13: 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
  • Exhibit 14: World Population (in Thousands) by Geographic Region for the Years 2019, 2030, 2050, 2100
  • Aging Population: A Weighty Growth Driver
  • Exhibit 15: 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
  • Exhibit 16: Global Middle Class Population (In Million) by Region for the Years 2020, 2025 and 2030
  • Exhibit 17: 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
  • UNITED STATES
  • Construction Activity Drives Market Growth
  • Exhibit 18: Construction Industry in the US by Sector (2016-2022): Breakdown of Value (US$ Million) for Residential Buildings, Non-Residential Buildings, and Non-Building Structures
  • Exhibit 19: Residential Construction in the US (2008-2020): Number of Housing Starts by Type - Single-Family Units and Multi-Family Units (in ‘000)
  • Exhibit 20: US Non-Residential Construction Market by Segment (2020): Percentage Share Breakdown of Investments for Commercial & Office, Industrial & Others, and Institutional
  • Exhibit 21: 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
  • Exhibit 22: Green and LEED Construction Spending ($ Million) in the US: 2010-2018
  • 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
  • CHINA
  • Need to Support Increasing Urban Density Drives Strong Growth in Demand
  • Exhibit 23: 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
  • Exhibit 24: Chinese Construction Industry: Market Size (US$ Billion) for the Period 2016-2022
  • Exhibit 25: New Housing Construction Completion in China: 2015-2020
  • The Race for Installing the Fastest Elevators Shift to China
  • Competitive Landscape
  • Exhibit 26: Leading Elevator and Escalator Companies in China (2019): Percentage Unit Market Share by Company
  • 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
  • FRANCE
  • Market Overview
  • 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
  • Exhibit 27: Market Share of Leading Elevator and Escalator Companies in Germany (2019)
  • ITALY
  • An Overview
  • UNITED KINGDOM
  • Construction Activity Promotes Market Demand
  • Growing Affluent Aging Populace Spurs Demand for Incline Elevators, Stairlifts, and Home Lifts
  • SPAIN
  • Replacement and Modernization of Aged Installed Elevators to Sustain Market Growth
  • RUSSIA
  • An Overview
  • REST OF EUROPE
  • ASIA-PACIFIC
  • AUSTRALIA
  • A Growing Market for Elevators and Escalators
  • INDIA
  • Increasing Number of High-Rise Buildings in Mushrooming Mega Cities Drive Demand
  • Exhibit 28: 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
  • Exhibit 29: Leading Players in Indian Elevators and Escalators Market (2020): Percentage Unit Market Share by Company
  • SOUTH KOREA
  • The Well-Penetrated Market Focus on Energy Efficiency and Eco-Friendliness
  • 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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