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Elevators and Escalators - Global Market Trajectory & Analytics

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

FEATURED COMPANIES

  • Canny Elevator Co., Ltd.
  • Fujitec Co., Ltd.
  • Hitachi Ltd.
  • Kleemann Hellas S.A.
  • KONE Oyj
  • Otis Elevator Company

Global Elevators and Escalators Market to Reach $80.1 Billion by 2027


Amid the COVID-19 crisis, the global market for Elevators and Escalators estimated at US$66 Billion in the year 2020, is projected to reach a revised size of US$80.1 Billion by 2027, growing at a CAGR of 2.8% over the period 2020-2027. Elevators, one of the segments analyzed in the report, is projected to record 2.9% CAGR and reach US$72.6 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Escalators segment is readjusted to a revised 2.3% CAGR for the next 7-year period.

The U.S. Market is Estimated at $7.1 Billion, While China is Forecast to Grow at 3.4% CAGR


The Elevators and Escalators market in the U.S. is estimated at US$7.1 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$20.5 Billion by the year 2027 trailing a CAGR of 3.4% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2% and 2.6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 2.2% CAGR.

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

FEATURED COMPANIES

  • Canny Elevator Co., Ltd.
  • Fujitec Co., Ltd.
  • Hitachi Ltd.
  • Kleemann Hellas S.A.
  • KONE Oyj
  • Otis Elevator Company
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
  • 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
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