Elevator and Escalator Market Opportunities, Future Trends, Business Demand and Growth Forecast 2029

Dec 26, 2023 - 14:56

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Global Elevator and Escalator Market size was valued at USD 120.5 Bn in 2022 and is expected to reach USD 183.6 Bn by 2029, at a CAGR of 6.2%.

Market Values: The global Elevator and Escalator Market, valued at USD 120.5 billion in 2022, is projected to surge to USD 183.6 billion by 2029, reflecting a robust CAGR of 6.2%.

Report Heading: Elevator and Escalator Market Size, Share, and Trend Analysis and Forecast (2023-2029)

Report Scope: The comprehensive report delves into the Elevator and Escalator market, exploring market dynamics, technological advancements, and regional insights. The analysis covers product types, technological trends, end-user segments, and the competitive landscape.

Research Methodology: The report employs a rigorous research methodology, leveraging advanced tools and data analytics. It includes an in-depth market analysis, taking into account drivers, opportunities, challenges, and restraining factors, providing a holistic understanding of the industry.

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Dynamics: The Elevator and Escalator Market is driven by urbanization, infrastructure development, and technological innovations. The report highlights the impact of smart elevators, IoT integration, and sustainability practices on market growth. Additionally, it covers the challenges posed by high initial installation costs.

Regional Insights: Asia Pacific Emerges as Dominant Market

Asia Pacific: Holding the largest market share in 2022, the region is expected to experience significant growth. Urbanization, infrastructure development, and a rising middle class contribute to the demand for vertical transportation systems.
North America: A developed market with steady growth, driven by strict safety regulations, energy efficiency focus, and ongoing infrastructure development.

Market Segment Analysis: The report dissects market segments based on product type, elevator technology, and end-user categories. It identifies the residential segment as a major contributor, accounting for over 80% of elevator demand.

Product Type: Elevator segment leads the market, with machine-room-less (MRL) traction technology emerging as the fastest-growing.
End User: The residential segment dominates the market share, fueled by increased living standards and demand for elevators in affordable housing.

Competitive Landscape: The global market is highly competitive, with industry leaders such as Otis Elevator Company, Schindler Group, KONE Corporation, and Thyssenkrupp Elevator AG playing a pivotal role. The report emphasizes the role of regional and local players offering customized solutions and localized support. Technological advancements, including smart and connected solutions, energy efficiency, and sustainability, drive competition among market players.

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Elevator and Escalator Market Segmentation:

by Product Type

Elevator
Escalator & Moving walkways

by Elevator Technology

Traction
Machine room-Less
Hydraulic

Elevator and Escalator Market Key Players:

1. Otis Elevator Company (United States)
2. Kone Corporation (Finland)
3. Schindler Group (Switzerland)
4. Mitsubishi Electric Corporation
5. Thyssenkrupp Elevator AG (Finland)
6. Hitachi Ltd. (Japan)
7. Fujitec Co., Ltd. (Japan)
8. Guangzhou Guangri Elevator Industry Co., Ltd. (China)
9. SJEC Corporation (China)
10. Canny Elevator Co., Ltd. (China)
11. Shanghai Mitsubishi Elevator Co., Ltd. (China)
12. IFE Elevators Co. Ltd. (China)
13. Suzhou Diao Elevator Co., Ltd. (China)
14. Kleemann Hellas SA (Greece)
15. Wittur Group (Germany)
16. Sematic S.p.A. (Italy)
17. Cibes Lift Group (Sweden)
18. EITA Elevator (Malaysia)

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Table of content for the Elevator and Escalator Market includes:

Global Elevator and Escalator Market : Research Methodology
Global Elevator and Escalator Market : Executive Summary

Market Overview and Definitions
Introduction to the Global Market
Summary
Key Findings
Recommendations for Investors
Recommendations for Market Leaders
Recommendations for New Market Entry

Global Elevator and Escalator Market : Competitive Analysis

MMR Competition Matrix
Market Structure by region
Competitive Benchmarking of Key Players
Consolidation in the Market
MA by region
Key Developments by Companies
Market Drivers
Market Restraints
Market Opportunities
Market Challenges
Market Dynamics
PORTERS Five Forces Analysis
PESTLE
Regulatory Landscape by region
North America
Europe
Asia Pacific
Middle East and Africa
South America
COVID-19 Impact

Company Profile: Key players

Company Overview
Financial Overview
Global Presence
Capacity Portfolio
Business Strategy
Recent Developments

Key Offerings:

Past Market Size and Competitive Landscape
Past Pricing and price curve by region
Market Size, Share, SizeandForecast by different segment | 20232029
Market Dynamics Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation A detailed analysis by growth and trend
Competitive Landscape Profiles of selected key players by region from a strategic perspective
Competitive landscape Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTERs analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations

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