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Vietnam Elevators & Escalators Market, By Type (Elevator {By Elevator Door Type, By Elevator Technology}, Escalator, Moving Walkways), By Service, By End User, By Region, Competition, Forecast & Opportunities, 2017- 2027

  • ID: 5570964
  • Report
  • April 2022
  • Region: Vietnam
  • 107 Pages
  • TechSci Research
UP TO OFF until Jul 31st 2022
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The Vietnamese Elevators & Escalators Market is projected to grow from USD470.22 million in 2021 to USD748.73 million by 2027

FEATURED COMPANIES

  • Fujitec Vietnam Co., Ltd.
  • KONE Vietnam LLC
  • Otis Vietnam
  • Schindler Vietnam Ltd.
  • VGSI Elevator LLC
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Speak directly to the analyst to clarify any post sales queries you may have.

10% Free customization

This report comes with 10% free customization, enabling you to add data that meets your specific business needs.

The Vietnamese Elevators & Escalators Market is projected to grow from USD470.22 million in 2021 to USD748.73 million by 2027 at a CAGR of 7.87% in the forecast period. Rapid urbanization and the growing construction of smart cities in Vietnam are the primary factors driving the demand for the Vietnamese Elevators & Escalators Market. Also, the growing demand for improved safety features in buildings and the advent of smart elevators & elevators are the other prominent factors expected to accelerate the Vietnamese Elevators & Escalators Market growth in the forecast period.

The government is encouraging the construction of smart cities in Vietnam, such as Thu Thiem Eco Smart City, Ecopark Smart City, The BRG Smart City in Hanoi, and other smart cities, which are fueling the demand for advanced technologies in elevators & escalators to provide a quality living experience to consumers. Market players are introducing attractive features in elevators and escalators such as music systems and Wi-Fi to enhance the consumer experience while commuting through them. Companies are developing energy-efficient elevator & escalator which are solar-powered or uses alternate renewable sources of energy to support the sustainable development goals set by the country. Also, the increase in construction of high-rise buildings requiring elevators to combat the problems faced by older people and pregnant women face while climbing the stairs is boosting the demand for elevators & elevators in the commercial as well as residential buildings of Vietnam.

The Vietnamese Elevators & Escalators Market is segmented into type, service, end-user, competitive landscape, and region. On the basis of regional distribution, the Southern region dominated the market in 2021, with a market share of 50.18%, and is expected to maintain its dominance throughout the forecast period. High investments in the construction industry and the rapid industrialization and urbanization in the Southern region are the primary factors driving the market demand. Also, renovations in the buildings to ease the commuting for old age population is expected to bolster the Vietnamese Elevators & Escalators Market growth in the next five years.


Mitsubishi Electric Vietnam Co., Ltd., Schindler Vietnam Ltd., Fujitec Vietnam Co., Ltd., KONE Vietnam LLC, Hitachi Elevator Vietnam Co., Ltd, Otis Vietnam, Alpec Joint Venture Joint Stock Company, Thang Long Elevator Equipment Group Co. Ltd, Hyundai Thanh Cong Vietnam Elevator Co., Ltd., Toshiba Elevator (Vietnam) Limited Liability Company are the major market players operating in the Vietnamese Elevators & 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 Vietnamese Elevators & Escalators Market from 2017 to 2021
  • To estimate and forecast the market size of the Vietnamese Elevators & Escalators Market from 2022E to 2027F and growth rate until 2027F
  • To classify and forecast the Vietnamese Elevators & Escalators Market based on type, service, end-user, competitive landscape, and regional distribution
  • To identify dominant region or segment in the Vietnamese Elevators & Escalators Market
  • To identify drivers and challenges for the Vietnamese Elevators & Escalators Market
  • To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Vietnamese Elevators & Escalators Market
  • To identify and analyze the profile of leading players operating in the Vietnamese Elevators & Escalators Market
  • To identify key sustainable strategies adopted by the market players in the Vietnamese Elevators & 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 Vietnam. 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 was able to include the manufacturers which could not be identified due to the limitations of secondary research. The publisher Research analyzed the manufacturers, distribution channels and presence of all major players across Vietnam.

The publisher calculated the market size of the Vietnamese Elevators & Escalators Market by using a bottom-up & top-down approach, wherein data for various segments were recorded and forecast for the future years. The publisher Research sourced these values from the industry experts and company representatives and externally validated them through analyzing historical data of these product types and distribution channels 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 by the publisher.

Key Target Audience:

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

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

Report Scope:


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

Vietnam Elevators & Escalators Market, By Type:

  • Elevator
  • Elevator Door Type
  • Automatic
  • Manual
  • Elevator Technology
  • Traction
  • Machine Room-Less Traction
  • Hydraulic
  • Escalator
  • Moving Walkways

Vietnam Elevators & Escalators Market, By Service:

  • Modernization and Maintenance & Repair
  • New Installation

Vietnam Elevators & Escalators Market, By End-User:

  • Residential
  • Commercial
  • Infrastructural
  • Institutional
  • Others (airports, railways)
  • Vietnam Elevators & Escalators Market, By Region
  • Southern Region
  • Northern Region
  • Central Region

Competitive Landscape


Company Profiles: Detailed analysis of the major companies present in the Vietnamese Elevators & Escalators Market.

Available Customizations:


With the given market data, the publisher offers customizations according to a company’s specific needs. The following customization options are available for the report:
  • Company Information
  • Detailed analysis and profiling of additional market players (up to five)
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Fujitec Vietnam Co., Ltd.
  • KONE Vietnam LLC
  • Otis Vietnam
  • Schindler Vietnam Ltd.
  • VGSI Elevator LLC

1. Product Overview2. Research Methodology3. Executive Summary4. Impact of COVID-19 on Vietnam Elevators & Escalators Market
5. Voice of Customer
5.1. Brand Awareness
5.2. Factors Influencing Purchase Decision
5.3. Satisfaction Level
5.4. Elevators and Escalators –Challenges
5.5. Annual Maintenance Contract (AMC) Expectations
5.6. Annual Maintenance Contract (AMC) Challenges
6. Global Elevators & Escalators Market Overview
7. Vietnam Elevators & Escalators Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Type (Elevator, Escalator and Moving Walkways)
7.2.1.1. By Elevator Door Type (Automatic Vs. Manual)
7.2.1.2. By Elevator Technology (Traction, Hydraulic and Machine Room-Less Traction)
7.2.2. By Service (Modernization, Maintenance & Repair, New Installation)
7.2.3. By End User (Residential, Commercial, Institutional, Infrastructural and Others)
7.2.4. By Region
7.2.5. By Company (2021)
7.3. Product Market Map
8. Vietnam Modernization and Maintenance & Repair Elevator & Escalator Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Type
8.2.2. By End User
9. Vietnam New Installation Elevator & Escalator Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value & Volume
9.2. Market Share & Forecast
9.2.1. By Type
9.2.2. By End User
10. Market Dynamics
10.1. Drivers
10.2. Challenges
11. Market Trends and Developments
12. Supply Chain Analysis
12.1. Elevators
12.2. Escalators
13. Policy and Regulatory Landscape14. Import Export Analysis15. Vietnam Economic Profile16. Top Local Elevator & Escalator Companies & Imported Brand Companies17. Market Strategy
18. Company Profiles
18.1. Mitsubishi Electric Vietnam Co., Ltd.
18.2. Schindler Vietnam Ltd.
18.3. Fujitec Vietnam Co., Ltd.
18.4. KONE Vietnam LLC
18.5. Hitachi Elevator Vietnam Co., Ltd
18.6. Otis Vietnam
18.7. Hyundai Thanh Cong Vietnam Elevator Co., Ltd.
18.8. Toshiba Elevator (Vietnam) Limited Liability Company
18.9. Thyssenkrupp Elevator Vietnam Co., Ltd
18.10. VGSI Elevator LLC
18.11. Pacific Elevator Co., Ltd.
18.12. Thang Long Elevator Equipment Group Co. Ltd
18.13. Alpec Joint Venture Joint Stock Company
19. Strategic Recommendations
List of Figures
Figure 1: Vietnam Elevators & Escalators Market Size, By Value (USD Million), 2017-2027F
Figure 2: GDP Contribution of the Construction Sector in Vietnam (%), 2017-2021
Figure 3: GDP Value of the Construction Sector in Vietnam (USD Billion), 2017-2021
Figure 4: Vietnam Elevators & Escalators Market Share, By Type, By Value, 2017-2027F
Figure 5: Vietnam Elevators & Escalators Market Share, By Elevator Door Type, By Value, 2017-2027F
Figure 6: Vietnam Elevators & Escalators Market Share, By Elevator Technology, By Value, 2017-2027F
Figure 7: Vietnam Elevators & Escalators Market Share, By Service, By Value, 2017-2027F
Figure 8: Vietnam Elevators & Escalators Market Share, By End User, By Value, 2017-2027F
Figure 9: Vietnam Elevators & Escalators Market Share, By Region, By Value, 2017-2027F
Figure 10: Vietnam Elevators & Escalators Share, By Company, By Value, 2021
Figure 11: Vietnam Elevators & Escalators Market Map, By Type, Market Size (USD Million) & Growth Rate (%), 2021
Figure 12: Vietnam Elevators & Escalators Market Map, By Elevator Door Type, Market Size (USD Million) & Growth Rate (%), 2021
Figure 13: Vietnam Elevators & Escalators Market Map, By Elevator Technology, Market Size (USD Million) & Growth Rate (%), 2021
Figure 14: Vietnam Elevators & Escalators Market Map, By Service, Market Size (USD Million) & Growth Rate (%), 2021
Figure 15: Vietnam Elevators & Escalators Market Map, By End User, Market Size (USD Million) & Growth Rate (%), 2021
Figure 16: Vietnam Elevators & Escalators Market Map, By Region, Market Size (USD Million) & Growth Rate (%), 2021
Figure 17: Vietnam Modernization and Maintenance & Repair Elevators & Escalators Market Size, By Value (USD Million), 2017-2027F
Figure 18: Vietnam Modernization and Maintenance & Repair Elevators & Escalators Market Share, By Type, By Value, 2017-2027F
Figure 19: Vietnam Modernization and Maintenance & Repair Elevators & Escalators Market Share, By End User, By Value, 2017-2027F
Figure 20: Vietnam New Installation Elevators & Escalators Market Size, By Value (USD Million), 2017-2027F
Figure 21: Vietnam New Installation Elevators & Escalators Market Size, By Volume (Units), 2017-2027F
Figure 22: Vietnam New Installation Elevators & Escalators Market Share, By Type, By Value, 2017-2027F
Figure 23: Vietnam New Installation Elevators & Escalators Market Share, By End User, By Value, 2017-2027F
Figure 24: Vietnam Escalators and Moving Walkways Import Scenario, By Value (USD Million), 2016-2020 (HS Code: 842840)
Figure 25: Vietnam Elevator and Conveyors, Import Scenario, By Value (USD Million), 2016-2020 (HS Code: 842831)
Figure 26: Vietnam Other Lifting, Handling, Loading Or Unloading Machinery (for Example, Lifts, Escalators, Conveyors, Teleferics) Import Scenario, By Value (USD Million), 2016-2020 (HS Code: 8428)
Figure 27: Vietnam Other Lifting, Handling, Loading Or Unloading Machinery (for Example, Lifts, Escalators, Conveyors, Teleferics) Export Scenario, By Value (USD Million), 2016-2020 (HS Code: 8428)
Figure 28: Vietnam Parts of Lifts, Skip Hoist or Escalators Import Scenario, By Value (USD Million), 2016-2029 (HS Code: 843131)
Figure 29: Vietnam Parts of Lifts, Skip Hoist or Escalators Export Scenario, By Value (USD Million), 2016-2020 (HS Code: 843131)
Figure 30: Vietnam Pumps and Liquid Elevators, Import Scenario, By Value (USD Million), 2016-2020 (HS Code: 841381)
Figure 31: Vietnam Pumps and Liquid Elevators Export Scenario, By Value (USD Million), 2016-2020 (HS Code: 841381)
Figure 32: Vietnam Continuous Action Elevators or Conveyors for Goods or Material, Import Scenario, By Value (USD Million), 2016-2020 (HS Code: 842839)
Figure 33: Vietnam Continuous Action Elevators or Conveyors for Goods or Material, Export Scenario, By Value (USD Million), 2016-2020 (HS Code: 842839)
List of Tables
Table 1: List of Proposed Buildings in Vietnam
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • Mitsubishi Electric Vietnam Co., Ltd.
  • Schindler Vietnam Ltd.
  • Fujitec Vietnam Co., Ltd.
  • KONE Vietnam LLC
  • Hitachi Elevator Vietnam Co., Ltd
  • Otis Vietnam
  • Hyundai Thanh Cong Vietnam Elevator Co., Ltd.
  • Toshiba Elevator (Vietnam) Limited Liability Company
  • Thyssenkrupp Elevator Vietnam Co., Ltd
  • VGSI Elevator LLC
  • Pacific Elevator Co., Ltd.
  • Thang Long Elevator Equipment Group Co. Ltd
  • Alpec Joint Venture Joint Stock Company
Note: Product cover images may vary from those shown