Press release
Growth of Elevator Market is Projected to USD 130 billion by 2025 By Covering Otis, Hitachi Ltd, KONE, Mitsubishi Electric Company, Schindler, Thyssenkrupp
Elevator
The global elevator market can be segregated on the basis of product, end user, and region. Machine room and machine room-less traction, hydraulic & pneumatic, and others are the various product types available in the industry. Machine room traction acquires the major industry share and will gain by a significant rate from 2017 to 2025. This product is apt for tall buildings whereas hydraulic & pneumatic elevators are suitable for buildings with smaller heights. Machine room less traction helps in saving space and energy and are growing in popularity since the last two decades.
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Elevators are one of the major transit mediums which facilitates urban flow by transporting goods and population vertically within a building. Lifts are used in all types of buildings like commercial, residential, retail outlets, etc. Hence, advancements in the construction industry would augment the growth in global lift market. Product maintenance and service activities will also be an important factor augmenting the elevator market in forecast years.
Rising elevator service and maintenance activities in mature construction markets such North America and Europe will be a major contributor for the lift market development. North American and European region already have a mature construction industry which is employing many lifts. The repair, maintenance, and service of these existing products will positively influence the industry growth during the forecast timeframe. Rising construction activities in East and Central European countries such as Ukraine, Poland, Croatia, etc. will also favor advancements in the lift market in forecast years.
Elevator Market by Product
Hydraulic & pneumatic
Machine room (MR) traction
Machine room-less (MRL) traction
Others
Elevator Market by End-user- Building & construction
Residential
Institutional
Commercial
Based on end users, the global lift market is categorized into industrial and building & construction. Commercial, residential, and institutional are the sub categories of building & construction segment. The industrial segment will witness a CAGR of approximately 3% from 2017 to 2025 whereas the residential sector is the majority shareholder in the worldwide elevator market. This is due to the rising residential infrastructural developments in the emerging countries of Middle-East and Asia Pacific.
Asia Pacific holds a major share in the worldwide lift market owing to the fast growth in its construction industry. Rising demand from Asian countries like Japan, China and India is a major reason behind its key position in the worldwide elevator market. Economic development, regulatory changes, and expanding population are major reasons driving the growth of the industry. North America and Europe are other potential markets with rising demand for the product owing to rising urbanization.
Top Manufacturers in global market are given bellow: Toshiba, Otis, Hitachi Ltd, KONE, Mitsubishi Electric Company, Schindler, Thyssenkrupp
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The above information is provided on a regional and country basis for the following:
U.S., Canada, Germany, UK, France, Spain, Italy, Russia, China, India, Japan, Australia, Indonesia, Malaysia, South Korea, Brazil, Mexico, South Africa, Saudi Arabia, UAE, Kuwait
Data Tables
TABLE 1 Elevator industry 360 degree synopsis, 2014 - 2025
TABLE 2 Global elevator market estimates & forecast (USD Million), 2014 - 2025
TABLE 3 Global hydraulic & pneumatic elevator market revenue estimates & forecast, by end-user, (USD Million), 2014 - 2025
TABLE 4 Global hydraulic & pneumatic elevator market revenue estimates & forecast, by building & construction end-user, (USD Million), 2014 - 2025
TABLE 5 Global MR traction elevator market revenue estimates & forecast, by end-user, (USD Million), 2014 - 2025
TABLE 6 Global MR traction elevator market revenue estimates & forecast, by building & construction end-user, (USD Million), 2014 - 2025
TABLE 7 Global MRL traction elevator market revenue estimates & forecast, by end-user, (USD Million), 2014 - 2025
TABLE 8 Global MRL traction elevator market revenue estimates & forecast, by building & construction end-user, (USD Million), 2014 - 2025
TABLE 9 Global other elevator market revenue estimates & forecast, by end-user, (USD Million), 2014 – 2025
TABLE 10 Global other elevator market revenue estimates & forecast, by building & construction end-user, (USD Million), 2014 - 2025
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