Elevator Market Study Report 2019 | Top Manufacturers - Hitachi, KONE Corporation, Otis Elevator Co., Schindler Group, thyssenkrupp, United Technologies
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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.
Elevator Market by End-user
• Building & construction
Elevator Market by Product
• Hydraulic & pneumatic
• Machine room (MR) traction
• Machine room-less (MRL) traction
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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.
North America and Europe are other potential markets with rising demand for the product owing to rising urbanization. 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.
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Toshiba, Otis, Hitachi Ltd, KONE, Mitsubishi Electric Company, Schindler, Thyssenkrupp, are some key companies in the worldwide elevator market. Research & development and introducing innovative products into the industry are important strategies adopted by players to strengthen their position in the industry.
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