Smart Elevators Global Demand, Key Players, Overview, Supply and Consumption Analysis

250 Pages Smart Elevators Market Survey by Fact MR, A Leading Business and Competitive Intelligence Provider

Subtitle – Smart Elevators market analysis by Fact.MR offer divulges compelling insights into factors creating sales prospects across key segments, including (segment 1), (segment 2), and (segment 3). It offers an executive-level blueprint of strategies adopted by the key market players and analyzes the impact of the same on overall growth projection.

The global COVID-19 pandemic has turned several industries upside down by causing disruptions in their daily operations and limiting the supply of raw materials, hampering production and growth.

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This newly published and insightful report sheds light on Market Insights of Smart Elevators, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Smart Elevators Market.

Adoption of electronic devices not only enhances convenience but also improves lifestyle of consumers, which has further resulted into the concept of smart homes. In addition, smart buildings are witnessing a tremendous surge in prevalence, with the rise in development of smart cities. Rising integration of essential building equipment and systems with artificial intelligence (AI) has further proliferated demand for smart buildings in developed and developing countries.

Various governments across the globe are focusing on funding smart cities projects, which in turn is expected to influence demand for equipment such as elevators. Elevator manufacturers across the globe are increasingly being encouraged to incorporate internet of things (IoT) in elevator systems, which will improve the service by lowering downtimes and enhancing the efficiency. It will further enable real-time remote monitoring and actionable analytics. Integration of IoT into elevators is considered to be one of the latest trends in the elevators industry, and such elevator systems are likely to gain immense traction globally in the near future.

Emergence of Net-Zero Elevators to Influence the Market Expansion

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Commercial builders are currently more focused than ever toward creation of energy-efficient structures to cater highest environmental benchmarks, while sustaining in the test of time. Elevators significantly contribute to energy consumption in a residential as well as commercial buildings, accounting for over 10% of total energy consumed.

However, after decades of machine and technology advancements, modern elevators being developed comparatively consume lesser energy. In addition, the concept of a net-zero elevators is likely to gain immense traction in residential as well as commercial sectors in the upcoming years. As a net-zero building produces only the amount of energy that is required by the structure, implementing a net-zero elevator commences with the emphasis on improving solar footprint.

Infrastructure developers are therefore increasingly focusing on incorporating solar panels within the elevator shaft’s footprint, making it cost-effective and more practical. Another imperative factor gaining attraction of builders is inclusion of microprocessor controls in a net-zero elevator, to reduce energy losses as well as the amount of energy consumed by implementing more integrated circuits in every area of printed circuit boards

Key Projections on Future of Elevators Market for Forecast Period 2017-2026
According to the report, 59,721 units were sold in 2017, and by the end of forecast period, this number is scheduled to reach 138,326 units.
North America will continue to be the largest market for elevators globally during the assessment period. The U.S. will remain at the forefront of demand, while Canada will account for a miniscule revenue share of the market. The report projects 56,087 units of elevators to be sold in North America by 2026.

Among all the service type segments – maintenance & repair, refurbishing, and new equipment – demand for new equipment is the highest. The report projects new equipment to be the leading service type segment during the assessment period.

By application type, the key segments include residential, commercial, and industrial. Demand for elevators from all these three segments is likely to remain steady during the assessment period, however, residential segment is projected to maintain a slight edge over the other two segments.

According to the report, some of the key companies operating in the global elevators market include Honda Motor Co., Ltd., Yamaha Motor Co., Ltd., Generac Holdings Inc., Champion Power Equipment, Inc., Hyundai Motor Company, Toshiba Corporation, Wuxi Kipor Power Co. Ltd., Briggs & Stratton Corporation, Lifan Industry (Group) Co. Ltd, Ryobi Limited, and Subaru Corporation.

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Key Segments Covered in Elevators Report:
On the basis of Deck type, the elevators market can be segmented into:

Single Deck
Double Deck
On the basis of Building Height, the elevators market can be segmented into:

Low Rise
High Rise
Mid Rise
On the basis of Speed, the elevators market can be segmented into:

Less than 1 m/s
Between 1 to 3 m/s
Between 4 to 6 m/s
Between 7 to 10 m/s
Above 10 m/s
On the basis of Destination Control, the elevators market can be segmented into:

Smart
Conventional
On the basis of End Use, the elevators market can be segmented into:

Commercial
Residential
Mix Block
On the basis of Application, the elevators market can be segmented into:

Passengers
Freight
On the basis of Region, the Elevators market can be segmented into:

North America
Latin America
Europe
Asia Pacific
MEA

A detailed analysis for elevators has been provided for every segment, in terms of market size (volume and value) analysis for elevators.

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Key Question answered in the survey of Smart Elevators market report:

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Growth of Smart Elevators Market
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Market Survey of Smart Elevators

More Valuable Insights on Smart Elevators Market

Fact.MR, in its new report, offers an unbiased Market Analysis of Smart Elevators, Sales and Demand of Smart Elevators, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.

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