Elevator Modernization Market to 2025 Global Analysis and Forecasts

  • ID: 4436815
  • Report
  • Region: Global
  • 196 pages
  • The Insight Partners
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FEATURED COMPANIES

  • Fujitec Co., Ltd.
  • Hitachi, Ltd.
  • HYUNDAIELEVATOR CO., LTD.
  • KONE Corporation
  • Schindler Holding Ltd.
  • Siemens AG
  • MORE
The most widely modernized component in the elevator modernization are the controllers, and due to this, the segment contributed the maximum market share of 36.6% in 2016. Although, signaling fixtures is projected to surge at the fastest pace of 5.1%. This is due to the fact that, controllers act as a brain of the elevator and are responsible for the speed, levelling and the smooth functioning of the elevator, and signaling fixtures are widely used for signaling the direction and level of the elevator and are subjected to wear and tear at a faster rate. Owing to these factors, the market for controllers and signaling fixtures is anticipated to surge during the forecast period from 2017 to 2025, at a significant rate.

In our study, we have segmented the elevator modernization market by type, component and end-user. The type segment of elevator modernization market includes traction and hydraulic type elevators. Furthermore, the component segment has been subdivided into power units, cabin enclosures, controllers, signaling fixtures, door equipment, and others. The end-user of elevator modernization includes industrial, residential buildings, institutional, marine, commercial, and others. On the basis of geography, the elevator modernization market is analyzed into North America, Europe, Asia- Pacific (APAC), Middle East & Africa (MEA) and South America (SAM).

The global elevator modernization market is estimated to grow at a CAGR of 3.8% during the forecast period 2017 - 2025 and accounts for US$ 14,386.2 Mn in the year 2025. The growth of market for elevator modernization is highly influenced by the increasing need for a smooth and efficient mobility system inside buildings owing to increasing urbanization. Moreover, rising concern for safety in elevators in high rise buildings is also acting as a growth factor for elevator modernization market.

In order to further modernize the elevators, the elevator component manufacturers, are manufacture the controllers with high end technologies and advanced composites such as relay based controllers or microprocessor chip based controllers, which is increases the interest among the end users for modernization of the elevators. Thus fueling the growth of market for elevator modernization in the coming years.

Geographically, Europe contributed the maximum market share in 2016 in the elevator modernization market, owing to high increase in the renovations in the region. Government of several countries are taking initiatives in the reconstruction of the older buildings for high rise buildings due to safety factors and also to increase foreign tourism and companies in the countries. Reconstructions are also being taken due to government initiatives for a safer and green infrastructure and saving new construction costs. These factors are anticipated to further propel the demand for elevator modernization in Europe region. Some of the global key players operating in the elevator modernization market are United Technologies Corporation, KONE Corporation, Schindler Holding Ltd., ThyssenKrupp AG, Fujitec Co. Ltd., and Hitachi Ltd. Electra Elevators, Hyundai Elevators Co. Ltd., Mitsubishi Electric Corporation, and Toshiba International Corporation are other key companies in the market.

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Note: Product cover images may vary from those shown
2 of 4

FEATURED COMPANIES

  • Fujitec Co., Ltd.
  • Hitachi, Ltd.
  • HYUNDAIELEVATOR CO., LTD.
  • KONE Corporation
  • Schindler Holding Ltd.
  • Siemens AG
  • MORE
1.1 List of Tables
1.2 List of Figures

2 Introduction
2.1 Scope of the Study
2.2 Research Report Guidance

3 Key Takeaways

4 Elevator modernization Market Landscape
4.1 Market Overview
4.2 Market Segmentation
4.2.1 Global Elevator modernization Market - By Type
4.2.2 Global Elevator modernization Market - By Component
4.2.3 Global Elevator modernization Market - By End-user
4.2.4 Global Elevator modernization Market - By Geography
4.3 PEST Analysis
4.3.1 North America PEST Analysis
4.3.2 Europe PEST Analysis
4.3.3 Asia Pacific PEST Analysis
4.3.4 Middle East & Africa PEST Analysis
4.3.5 South America PEST Analysis

5 Global Elevator Modernization Market - Key Industry Dynamics
5.1 Key Market Drivers
5.1.1 Need for a smooth and efficient mobility system inside buildings owing to increasing urbanization
5.1.2 Rising concerns of safety in elevators in high rise buildings
5.1.3 Ageing urban infrastructure and ageing global population driving elevator replacement with latest technology
5.2 Key Market Restraints
5.2.1 Design related issues concerned around modernization of elevators
5.2.2 Damages due to leakages in hydraulic elevators
5.3 Key Market Opportunities
5.3.1 Predictive maintenance service for elevators
5.4 Future Trends
5.4.1 Minimizations on downtimes of elevator systems
5.5 Impact Analysis of Drivers and Restraints

6 Elevator Modernization Market - Global
6.1 Global Elevator Modernization Market Overview
6.2 Global Elevator modernization Market Forecast and Analysis

7 Global Elevator modernization Market Analysis - By Type
7.1 Overview
7.2 Hydraulic
7.2.1 Overview
7.2.2 Global Hydraulic Market Revenue and Forecasts to 2025 (US$ Mn)
7.3 Traction
7.3.1 Overview
7.3.2 Global Traction Market Revenue and Forecasts to 2025 (US$ Mn)

8 Global Elevator Modernization Market Analysis - By Component
8.1 Overview
8.2 Power Units
8.2.1 Overview
8.2.2 Global Power Units Market Revenue and Forecasts to 2025 (US$ Mn)
8.3 Cabin Enclosures
8.3.1 Overview
8.3.2 Global Cabin Enclosures Market Revenue and Forecasts to 2025 (US$ Mn)
8.4 Controllers
8.4.1 Overview
8.4.2 Global Controllers Market Revenue and Forecasts to 2025 (US$ Mn)
8.5 Signaling Fixtures
8.5.1 Overview
8.5.2 Global Signaling Fixtures Market Revenue and Forecasts to 2025 (US$ Mn)
8.6 Door Equipment
8.6.1 Overview
8.6.2 Global Door Equipment Market Revenue and Forecasts to 2025 (US$ Mn)
8.7 Others
8.7.1 Overview
8.7.2 Global Others Market Revenue and Forecasts to 2025 (US$ Mn)

9 Global Elevator Modernization Market Analysis - By End-user
9.1 Overview
9.2 Industrial
9.2.1 Overview
9.2.2 Global Industrial Market Revenue and Forecasts to 2025 (US$ Mn)
9.3 Residential Building
9.3.1 Overview
9.3.2 Global Residential Building Market Revenue and Forecasts to 2025 (US$ Mn)
9.4 Institutional
9.4.1 Overview
9.4.2 Global Institutional Market Revenue and Forecasts to 2025 (US$ Mn)
9.5 Marine
9.5.1 Overview
9.5.2 Global Marine Market Revenue and Forecasts to 2025 (US$ Mn)
9.6 Commercial
9.6.1 Overview
9.6.2 Global Commercial Market Revenue and Forecasts to 2025 (US$ Mn)
9.7 Others
9.7.1 Overview
9.7.2 Global Others Market Revenue and Forecasts to 2025 (US$ Mn)

10 Global Elevator modernization Market - Geographical Analysis
10.1 Overview
10.2 North America Elevator Modernization Market Revenue and Forecasts to 2025
10.2.1 Overview
10.2.2 North America Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn)
10.2.3 North America Elevator Modernization Market Breakdown by Key Countries
10.2.3.1. US Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn)
10.2.3.2. Canada Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn)
10.2.3.3. Mexico Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn)
10.2.4 North America Elevator Modernization Market Breakdown by Type
10.2.5 North America Elevator Modernization Market Breakdown by Component
10.2.6 North America Elevator Modernization Market Breakdown by End-User
10.3 Europe Elevator Modernization Market Revenue and Forecasts to 2025
10.3.1 Overview
10.3.2 Europe Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn)
10.3.3 Europe Elevator Modernization Market Breakdown by Key Countries
10.3.3.1. France Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn)
10.3.3.2. Germany Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn)
10.3.3.3. Italy Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn)
10.3.3.4. Spain Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn)
10.3.3.5. UK Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn)
10.3.3.6. Rest of Europe Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn)
10.3.4 Europe Elevator Modernization Market Breakdown by Type
10.3.5 Europe Elevator Modernization Market Breakdown by Component
10.3.6 Europe Elevator Modernization Market Breakdown by End-User
10.4 Asia Pacific (APAC) Elevator Modernization Market Revenue and Forecasts to 2025
10.4.1 Overview
10.4.2 Asia Pacific Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn)
10.4.3 Asia Pacific Elevator Modernization Market Breakdown by Countries
10.4.3.1. China Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn)
10.4.3.2. India Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn)
10.4.3.3. Japan Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn)
10.4.3.4. Australia Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn)
10.4.3.5. Rest of APAC Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn)
10.4.4 Asia Pacific Elevator Modernization Market Breakdown by Type
10.4.5 Asia Pacific Elevator Modernization Market Breakdown by Component
10.4.6 Asia Pacific Elevator Modernization Market Breakdown by End-User
10.5 Middle East & Africa (MEA) Elevator Modernization Market Revenue and Forecasts to 2025
10.5.1 Overview
10.5.2 Middle East & Africa Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn)
10.5.3 Middle East & Africa Elevator Modernization Market Breakdown by Key Countries
10.5.3.1. Saudi Arabia Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn)
10.5.3.2. UAE Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn)
10.5.3.3. South Africa Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn)
10.5.3.4. Rest of MEA Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn)
10.5.4 Middle East & Africa Elevator Modernization Market Breakdown by Type
10.5.5 Middle East & Africa Elevator Modernization Market Breakdown by Component
10.5.6 Middle East & Africa Elevator Modernization Market Breakdown by End-User
10.6 South America Elevator Modernization Market Revenue and Forecasts to 2025
10.6.1 Overview
10.6.2 South America Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn)
10.6.3 South America Elevator Modernization Market Breakdown by Key Countries
10.6.3.1. Brazil Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn)
10.6.3.2. Rest of SAM Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn)
10.6.4 South America Elevator Modernization Market Breakdown by Type
10.6.5 South America Elevator Modernization Market Breakdown by Component
10.6.6 South America Elevator Modernization Market Breakdown by End-User

11 Industry Landscape
11.1 Market Initative
11.2 Merger and Acquisition
11.3 New Development

12 Competitive Landscape
12.1 Competitive Product Mapping
12.2 Market Positioning - Global Top 5 Players Ranking

13 Global Elevator modernization Market - Key Company Profiles
13.1 United Technologies Corporation
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Financial Overview
13.1.4 SWOT Analysis
13.1.5 Key Developments
13.2 KONE Corporation
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Financial Overview
13.2.4 SWOT Analysis
13.2.5 Key Developments
13.3 Schindler Holding Ltd.
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Financial Overview
13.3.4 SWOT Analysis
13.3.5 Key Developments
13.4 Thyssenkrupp AG
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Financial Overview
13.4.4 SWOT Analysis
13.4.5 Key Developments
13.5 Fujitec Co. Ltd.
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Financial Overview
13.5.4 SWOT Analysis
13.5.5 Key Developments
13.6 Hitachi Ltd.
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Financial Overview
13.6.4 SWOT Analysis
13.6.5 Key Developments
13.7 Electra Elevators
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Financial Overview
13.7.4 SWOT Analysis
13.7.5 Key Developments
13.8 Hyundai Elevator Co., Ltd.
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Financial Overview
13.8.4 SWOT Analysis
13.8.5 Key Developments
13.9 Mitsubishi Electric Corporation
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Financial Overview
13.9.4 SWOT Analysis
13.9.5 Key Developments
13.10 Toshiba International Corporation
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Financial Overview
13.10.4 SWOT Analysis
13.10.5 Key Developments

14 Appendix
14.1 About
14.2 Glossary of Terms
14.3 Methodology
14.3.1 Coverage
14.3.2 Secondary Research
14.3.3 Primary Research
14.4 Contact Us
14.5 Disclaimer

List of Tables

Table 1: Global Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn)
Table 2: North America Elevator Modernization Market Revenue and Forecasts to 2025 - By Type (US$ Mn)
Table 3: North America Elevator Modernization Market Revenue and Forecasts to 2025 - By Component (US$ Mn)
Table 4: North America Elevator Modernization Market Revenue and Forecasts to 2025 - By End-User (US$ Mn)
Table 5: Europe Elevator Modernization Market Revenue and Forecasts to 2025 - By Type (US$ Mn)
Table 6: Europe Elevator Modernization Market Revenue and Forecasts to 2025 - By Component (US$ Mn)
Table 7: Europe Elevator Modernization Market Revenue and Forecasts to 2025 - By End-User (US$ Mn)
Table 8: Asia Pacific Elevator Modernization Market Revenue and Forecasts to 2025 - By Type (US$ Mn)
Table 9: Asia Pacific Elevator Modernization Market Revenue and Forecasts to 2025 - By Component (US$ Mn)
Table 10: Asia Pacific Elevator Modernization Market Revenue and Forecasts to 2025 - By End-User (US$ Mn)
Table 11: Middle East & Africa Elevator Modernization Market Revenue and Forecasts to 2025 - By Type (US$ Mn)
Table 12: Middle East & Africa Elevator Modernization Market Revenue and Forecasts to 2025 - By Component (US$ Mn)
Table 13: Middle East & Africa Elevator Modernization Market Revenue and Forecasts to 2025 - By End-User (US$ Mn)
Table 14: South America Elevator Modernization Market Revenue and Forecasts to 2025 - By Type (US$ Mn)
Table 15: South America Elevator Modernization Market Revenue and Forecasts to 2025 - By Component (US$ Mn)
Table 16: South America Elevator Modernization Market Revenue and Forecasts to 2025 - By End-User (US$ Mn)
Table 17: Glossary of Terms, Elevator modernization Market

List of Figures

Figure 1: Controllers Elevator modernization, Global Revenue (US$ Mn), 2016 & 2025
Figure 2: APAC Elevator modernization, Global Revenue (US$ Mn), 2016 & 2025
Figure 3: Commercial Elevator modernization Market, Global Revenue (US$ Mn), 2016 & 2025
Figure 4: Elevator modernization Market Segmentation
Figure 5: Elevator modernization Market Segmentation
Figure 6: North America PEST Analysis
Figure 7: Europe PEST Analysis
Figure 8: APAC PEST Analysis
Figure 9: MEA PEST Analysis
Figure 10: SAM PEST Analysis
Figure 11: Elevator Modernization Market Impact Analysis of Driver and Restraints
Figure 12: Global Elevator Modernization Market Breakdown By Type, 2016 & 2025 (%)
Figure 13: Hydraulic Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 14: Traction Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 15: Global Elevator Modernization Market Breakdown By Component, 2016 & 2025 (%)
Figure 16: Power Units Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 17: Cabin Enclosures Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 18: Controllers Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 19: Signaling Fixtures Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 20: Door Equipment Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 21: Others Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 22: Global Elevator Modernization Market Breakdown By End User, 2016 & 2025 (%)
Figure 23: Global Industrial Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 24: Global Residential Building Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 25: Global Institutional Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 26: Global Marine Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 27: Global Commercial Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 28: Global Others Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 29: Elevator Modernization Market, Global Breakdown by Regions, 2016 & 2025 (%)
Figure 30: North America Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 31: North America Elevator Modernization Market Breakdown by Key Countries, 2016 & 2025 (%)
Figure 32: US Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 33: Canada Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 34: Mexico Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 35: North America Elevator Modernization Market Breakdown by Type, 2016 & 2025 (%)
Figure 36: North America Elevator Modernization Market Breakdown by Component, 2016 & 2025 (%)
Figure 37: North America Elevator Modernization Market Breakdown by End-User, 2016 & 2025 (%)
Figure 38: Europe Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 39: Europe Elevator Modernization Market Breakdown by Key Countries, 2016 & 2025 (%)
Figure 40: France Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 41: Germany Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 42: Italy Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 43: Spain Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 44: UK Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 45: Rest of Europe Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 46: Europe Elevator Modernization Market Breakdown by Type, 2016 & 2025 (%)
Figure 47: Europe Elevator Modernization Market Breakdown by Component, 2016 & 2025 (%)
Figure 48: Europe Elevator Modernization Market Breakdown by End-User, 2016 & 2025 (%)
Figure 49: Asia Pacific Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 50: Asia Pacific Elevator Modernization Market Breakdown by Key Countries, 2016 & 2025 (%)
Figure 51: China Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 52: India Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 53: Japan Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 54: Australia Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 55: Rest of APAC Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 56: Asia Pacific Elevator Modernization Market Breakdown by Type, 2016 & 2025 (%)
Figure 57: Asia Pacific Elevator Modernization Market Breakdown by Component, 2016 & 2025 (%)
Figure 58: Asia Pacific Elevator Modernization Market Breakdown by End-User, 2016 & 2025 (%)
Figure 59: Middle East & Africa Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 60: Middle East & Africa Elevator Modernization Market Breakdown by Key Countries, 2016 & 2025 (%)
Figure 61: Saudi Arabia Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 62: UAE Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 63: South Africa Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 64: Rest of MEA Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 65: Middle East & Africa Elevator Modernization Market Breakdown by Type, 2016 & 2025 (%)
Figure 66: Middle East & Africa Elevator Modernization Market Breakdown by Components, 2016 & 2025 (%)
Figure 67: Middle East & Africa Elevator Modernization Market Breakdown by End-User, 2016 & 2025 (%)
Figure 68: South America Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 69: South America Elevator Modernization Market Breakdown by Key Countries, 2016 & 2025 (%)
Figure 70: Brazil Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 71: Rest of SAM Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn)
Figure 72: South America Elevator Modernization Market Breakdown by Type, 2016 & 2025 (%)
Figure 73: South America Elevator Modernization Market Breakdown by Component, 2016 & 2025 (%)
Figure 74: South America Elevator Modernization Market Breakdown by End-User, 2016 & 2025 (%)
Figure 75: Elevator Modernization Market Competitive Product Mapping
Note: Product cover images may vary from those shown
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  • KONE Corporation
  • United Technologies Corporation
  • Siemens AG
  • Schindler Holding Ltd.
  • Mitsubishi Electric Corporation
  • thyssenKrupp AG
  • Fujitec Co., Ltd.
  • Hitachi, Ltd.
  • HYUNDAIELEVATOR CO., LTD.
  • TOSHIBA CORPORATION.
Note: Product cover images may vary from those shown
5 of 4
Note: Product cover images may vary from those shown
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