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UAE Elevator and Escalator Market - Size & Growth Forecast 2024-2029

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    Report

  • 142 Pages
  • April 2024
  • Region: United Arab Emirates
  • Arizton
  • ID: 5714653
1h Free Analyst Time
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The UAE Elevator and Escalator Market size consisted of 9,598 units in 2023, and is projected to reach 12,794 units by 2029, showcasing a CAGR of 4.91%.

KEY HIGHLIGHTS

  • The UAE elevator market by the installed base is expected to reach 94,397 thousand units by 2029. The increasing investment in UAE real estate, which results in the need for passengers to commute between levels, will likely elevate the demand for passenger elevators. Some new megaproject developments in Dubai are the Al Quoz Creative Zone, Dubai Urban Tech District, Mohammed bin Rashid Library, and many more.
  • The tourism industry in the United Arab Emirates is booming, mainly due to an influx of business, sports, leisure, and religious visitors. Dubai and Abu Dhabi are the most popular destinations for international visitors in the United Arab Emirates. With 10.1 million visitors in the first eight months of 2022, Dubai was 4th among the world's most famous cities. With 5.26 million visitors, Abu Dhabi was ranked 94th.
  • As the government presses on with different programs, such as the Dubai 2040 urban development plan, the Energy Strategy 2050, the Sheikh Zayed Housing Programme, and the Dubai Tourism Strategy, infrastructure will play a critical role in the UAE's expansion goals and contribute to the UAE elevator and escalator market progress.

SEGMENTATION ANALYSIS

Elevator Market Segmentation by

Machine Type

  • Hydraulic and Pneumatic
  • Machine Room Traction
  • Machine Room Less Traction
  • Others
    • Climbing
    • Elevators
    • Industrial Elevators

Carriage Type

  • Passenger
  • Freight

Capacity

  • 2-15 Persons
  • 16-24 Persons
  • 25-33 Persons
  • 34 Persons and Above

End-User

  • Commercial
  • Residential
  • Industrial
  • Others
    • Public Transit
    • Institutional
    • Infrastructural

Escalator Market Segmentation by

Product Type

  • Parallel
  • Multi Parallel
  • Walkway
  • Crisscross

End-User

  • Public Transit
  • Commercial
  • Others
    • Institutional Sector
    • Infrastructure
    • Industrial

Expanding residential construction to hike elevators and escalators demand.

  • Five supertall skyscraper developments are underway in the region, which is expected to support the UAE elevator and escalator market. Construction of Ciel Tower (366 m), Primo Tower 1 (356 m), Uptown Tower (339 m), One Za’abeel Residential Tower (330 m), and Al Wasl Tower (302 m) is expected to be completed by 2023. As a result, demand for traction elevators is likely to rise as more skyscrapers are constructed.
  • UAE under-construction private villa or low-rise projects (such as Emaar Majestic Vistas, Emaar Surf, etc.) increased from 5,165 in 2020 to 5,642 in 2021, increasing the demand for 2-15-person elevators in the UAE elevator and escalator market.

Ongoing demand for building construction in infrastructure and commercial sector to boost demand for installation of elevators and escalators.

  • The Dubai Land Department (DLD) registered 2,845 commercial property transactions totaling Dh33.9 billion (USD 9.2 billion) in the third quarter of 2021. Compared to the previous quarter, transaction volumes were up 1%, and year-over-year, they were 34% higher.
  • With government-backed companies (Abu Dhabi Investment Council, Aabar Investments, etc.) projected to remain the primary source of demand for Grade A office space, an improvement in the macroeconomic situation could contribute to an increase in the entire commercial elevator industry in the future years.
  • One of the under-construction commercial projects in Abu Dhabi is Masdar City, with a projected value of USD 22,000 million and should be completed by 2025.

The government's efforts to expand infrastructure across the nation to increase demand for new installations.

  • To help expand this industry even more, the Gulf aims to introduce a uniform visa procedure for international travelers, making travel formalities easier. In addition to operating flights on new routes in Asia, Europe, and Africa, regional airlines such as Etihad Airways, Qatar Airways, and Emirates Airlines are extending their codeshare arrangements with various airlines. As a result of these advancements, passengers will have access to more diverse travel options. The combination of these efforts will increase international tourist arrivals in the country.
  • UAE approves development projects worth nearly USD 54 million. The approved development initiatives include implementing a USD 49 million project linking Sheikh Khalifa Specialty Hospital with the Federal Road Network.
  • Zenatix has expanded its operations to the Middle East and the UAE region to offer organizations asset management solutions and robust cloud-based energy. Zenatix arrives in the topography at the perfect time with strategic initiatives declared by the Dubai government and corporates around climate preservation and sustainability, the UN Climate Change Conference (COP28) planned in Dubai in 2023, and the Dubai Clean Energy Strategy 2050.

Elevators are reaching their average life expectancy, mainly in high-rise apartment buildings, to boost the demand for maintenance in the UAE elevator and escalator market.

  • Otis has introduced its enhanced ‘Signature Service’ offering in the UAE elevator and escalator market. Signature Service includes new digital technologies with the company’s legacy of special care for its customers’ people-moving equipment.
  • A digital economy approach drives the long-term growth potential of the modernization industry in UAE by integrating emerging technologies like Artificial Intelligence Cyber Security and supporting SME digitization.
  • The maintenance and modernization in the UAE elevator and escalator market accounted for 67% and 33%, respectively, in 2022.

VENDOR LANDSCAPE

  • The key players in the UAE elevator and escalator market are KONE, Otis, Mitsubishi Electric, Schindler, Hyundai Elevator, TK Elevator, and Hitachi.
  • The top 4 prominent vendors, including KONE, Otis, Mitsubishi Electric, and Schindler, account for 48% of the UAE elevator and escalator market share in UAE.

Key Vendors

  • KONE
  • Mitsubishi Electric
  • TK Elevator
  • Hitachi
  • Hyundai Elevator
  • Otis
  • Fujitec
  • Schindler
  • KÖHLER Elevator GmbH

Other Prominent Vendors

  • Sigma Elevator
  • Orona
  • KLEEMANN
  • Toshiba Elevator And Building Systems Corporation
  • ALFA Elevator Co. LLC

KEY QUESTIONS ANSWERED

1. How big is the UAE elevator and escalator market?
2. What will the growth rate be in the UAE elevator and escalator market?
3. Who are the key companies in the UAE elevator and escalator market?
4. What factors drive the maintenance and modernization segment in the UAE elevator and escalator market?

Table of Contents

1. Introduction
1.1. Market Overview
1.2. Market Snapshot of Elevators
1.3. Market Snapshot of Escalators
1.4. Executive Summary
2. UAE Elevators Market
2.1. Future Outlook - UAE Elevator Market by Volume
2.2. UAE Escalators Market - by Segments
2.2.1. UAE Escalators Market, by Volume
2.2.1.1. UAE Escalators Market Size and Forecast, Volume (Units), 2020-2029
2.2.2. UAE Elevators Market, by Type
2.2.2.1. Hydraulic and Pneumatic, Market Size and Forecast, Volume (Units),2020-2029
2.2.2.2. Machine Room Traction, Market Size and Forecast, Volume (Units), 2020-2029
2.2.2.3. Machine Room Less Traction, Market Size and Forecast, Volume (Units), 2020-2029
2.2.2.4. Others, Market Size and Forecast, Volume (Units), 2020-2029
2.2.3. UAE Elevators & Escalators Market by Carriage Type
2.2.3.1. Passenger, Market Size and Forecast, Volume (Units), 2020-2029
2.2.3.2. Freight, Market Size and Forecast, Volume (Units), 2020-2029
2.2.4. UAE Elevators Market by Persons
2.2.4.1. 2-15 Persons, Market Size and Forecast, Volume (Units), 2020-2029
2.2.4.2. 16-24 Persons, Market Size and Forecast, Volume (Units), 2020-2029
2.2.4.3. 25-33 Persons, Market Size and Forecast, Volume (Units), 2020-2029
2.2.4.4. 34 Persons and Above, Market Size and Forecast, Volume (Units), 2020-2029
2.2.5. UAE Elevators Market by End-users
2.2.5.1. Commercial, Market Size and Forecast, Volume (Units), 2020-2029
2.2.5.2. Residential, Market Size and Forecast, Volume (Units), 2020-2029
2.2.5.3. Industrial, Market Size and Forecast, Volume (Units), 2020-2029
2.2.5.4. Others, Market Size and Forecast, Volume (Units), 2020-2029
3. UAE Escalators Market
3.1. Future Outlook - UAE Escalators Market by Volume
3.2. UAE Escalators Market - by Segments
3.2.1. UAE Escalators Market, by Volume
3.2.1.1. UAE Escalators Market Size and Forecast, Volume (Units), 2020-2029
3.2.2. UAE Escalator Market by Type
3.2.2.1. Parallel, Market Size and Forecast, Volume (Units), 2020-2029
3.2.2.2. Multi-Parallel, Market Size and Forecast, Volume (Units), 2020-2029
3.2.2.3. Walkway, Market Size and Forecast, Volume (Units), 2020-2029
3.2.2.4. Crisscross, Market Size and Forecast, Volume (Units), 2020-2029
3.2.3. UAE Escalator Market by End-users
3.2.3.1. Commercial, Market Size and Forecast, Volume (Units), 2020-2029
3.2.3.2. Public Transit, Market Size and Forecast, Volume (Units), 2020-2029
3.2.3.3. Others, Market Size and Forecast, Volume (Units), 2020-2029
4. UAE Elevators &Escalators Market, by Service (Maintenance & Modernization)
5. Geographical Analysis
5.1. Key Economic Cities in UAE
6. Market Dynamics
6.1. Market Drivers, Opportunities, Restraints, Trends
7. Technological Development
8. Competitive Landscape
8.1. Company Profile of Major Vendors
8.2. Other Prominent Vendors
9. Report Summary
9.1. Quantitative Summary
9.2. List of Abbreviations
10. Appendix (Report Scope & Definition)
10.1. Research Methodology
10.2. Market Definition, Inclusion & Exclusion
List of Exhibits
1. UAE Elevator & Escalator Installed Base by Volume 2020-2029(Units)
2. UAE Elevator & Escalator New Installations by Volume 2020-2029 (Units)
3. Market Share 2023: Maintenance
4. Market Share 2023: Modernization
5. Total Installed Base: Volume (Units in Thousands)
6. Total New Installations: Volume (Units in Thousands)
7. Global Elevators & Escalators Market: Products & Services 2022
8. Maintenance Market: Global Regions vs UAE 2022
9. Installed Base of Elevators by Volume (Units)
10. New Installations of Elevators by Volume (Units)
11. Maintenance & Modernization Value($Million)
12. Maintenance & Modernization 2023(%)
13. Installed Base of Escalators by Volume (Units)
14. New Installations of Escalators by Volume (Units)
15. Maintenance & Modernization Value($Million)
16. Maintenance & Modernization 2023(%)
17. Installed Base and New Installations of Elevators (Units)
18. New Installations of Elevators (Units)
19. Number of Tall Buildings by City in UAE
20. Extended Elevator Life Cycle
21. Average Life Expectancy of an Elevator Component
22. Hydraulic & Pneumatic Elevators Installed Base and New Installations (Units)
23. Machine Room Less Traction Elevators Installed Base and New Installations (Units)
24. Machine Room Traction Elevators Installed Base and New Installations (Units)
25. Others Machine Elevators Installed Base and New Installation (Units)
26. Installed Base and New Installations of Passenger Elevators (Units)
27. Installed Base and New Installations of Freight Elevators (Units)
28. Installed Base and New Installations of 2-15 Persons Elevators (Units)
29. Installed Base and New Installations of 16-24 Persons Elevators (Units)
30. Installed Base and New Installations of 25-33 Persons Elevators (Units)
31. Installed Base and New Installations of 34 Persons and Above Elevators (Units)
32. Installed Base and New Installations of Commercial Elevators (Units)
33. Installed Base and New Installations of Residential Elevators (Units)
34. Installed Base and New Installations of Industrial Elevators (Units)
35. Installed Base and New Installations of Other End-user Elevators (Units)
36. Installed Base and New Installations of Escalators (Units)
37. New Installations of Escalators (Units)
38. Installed Base and New Installations of Parallel Escalators (Units)
39. Installed Base and New Installations of Multi Parallel Escalators (Units)
40. Installed Base and New Installations of Moving Walkway Escalators (Units)
41. Installed Base and New Installations of Criss Cross Escalators (Units)
42. Installed Base and New Installations of Public Transit Escalators (Units)
43. Installed Base and New Installations of Commercial Escalators (Units)
44. Installed Base and New Installations of Other End-user Escalators (Units)
45. UAE Elevators & Escalators Maintenance Market ($ Mn)
46. UAE Elevators & Escalators Modernization Market ($ Mn)
47. Modernizing an Aging Elevator Can Lead to 70% of Energy Saving
48. Geographic Analysis: UAE
49. % Share of Building Permits Issued by Type-2022
50. Population Density by Sector in Dubai 2022
51. Ras Al-Khaimah Building Permits 2022-2023
52. Real Estate Sales Value ($Million) 2023 in Ras Al-Khaimah
53. Building Permits in Fujairah 2020-2022
54. Upsurge in Number of Hotels in UAE (2016-2022)
55. Tourism Indicators in UAE -2022
56. Percentage of Completed Buildings by Type in Dubai 2022
57. Market Share 2022 (% Share)
58. Kone, Total Sales by Segment 2022 (% Share)
59. Otis, Total Sales 2019-2022($ Billion)
60. Mitsubishi Electric, Total Sales by Segment 2022 (% Share)
61. Tke: Revenue 2020-2022($Billion)
62. Hitachi, Total Sales by Segment 2022 (% Share)
63. Fujitec, Net Sales 2017-2022($ Billion)
64. Schindler, Total Sales 2017-2022
List of Tables
1. Global Ranking of Countries by Number of 150M+ Buildings
2. Skyscraper Under Construction in UAE
3. Classification of Energy Efficiency Class
4. by Machine, New Installations, Total Incremental Opportunity, 2022-2029
5. by Carriage Type, New Installations, Total Incremental Opportunity, 2022-2029
6. by Capacity (Persons), New Installations, Total Incremental Opportunity, 2022-2029
7. by End-user, New Installations, Total Incremental Opportunity, 2022-2029
8. by Product, New Installations, Total Incremental Opportunity, 2022-2029
9. by End-user, New Installations, Total Incremental Opportunity, 2022-2029
10. Number of Completed Buildings in Dubai 2022
11. Impact of Carbon Emissions
12. Developments/ Projects
13. Major Projects Commenced by OEM's
14. Elevators Market Size & Forecast, by Type (Units)
15. Elevators by Carriage Type Market Size & Forecast (Units)
16. Elevators Market Size & Forecast, by Persons (Units)
17. Elevators by End-users Market Size & Forecast (Units)
18. Escalators Market Size & Forecast, by Type (Units)
19. Escalators Market Size & Forecast, by End-users (Units)
20. List of Abbreviations

Companies Mentioned

  • KONE
  • Mitsubishi Electric
  • TK Elevator
  • Hitachi
  • Hyundai Elevator
  • Otis
  • Fujitec
  • Schindler
  • KÖHLER Elevator GmbH
  • Sigma Elevator
  • Orona
  • KLEEMANN
  • Toshiba Elevator And Building Systems Corporation
  • ALFA Elevator Co. LLC

Methodology


Our research comprises a mix of primary and secondary research. The secondary research sources that are typically referred to include, but are not limited to, company websites, annual reports, financial reports, company pipeline charts, broker reports, investor presentations and SEC filings, journals and conferences, internal proprietary databases, news articles, press releases, and webcasts specific to the companies operating in any given market.

Primary research involves email interactions with the industry participants across major geographies. The participants who typically take part in such a process include, but are not limited to, CEOs, VPs, business development managers, market intelligence managers, and national sales managers. We primarily rely on internal research work and internal databases that we have populated over the years. We cross-verify our secondary research findings with the primary respondents participating in the study.



 

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