Global Elevator Components Market To Reach US$ 107.9 Billion By The End Of 2032

When globalization is intensifying day by day, many businesses call for global market research for actionable market insights and to support decision-making. The scope of the global Elevator Components Market report extends from market scenarios to comparative pricing between major players, cost, and profit of the specified market regions. Market drivers and market restraints mentioned in this market analysis report help businesses gain an idea about the production strategy. Also, the identity of respondents is also kept undisclosed and no promotional approach is made to them while analysing the data.

The Elevator Components Market report gives CAGR value fluctuation during the forecast period of 2022-2032 for the market. Important industry trends, market size, and market share estimates are analyzed and mentioned in the report. This report helps the firm in exploring new uses and new markets for its existing products and thereby, increasing the demand for its products. The market document provides an in-depth overview of product specification, technology, product type, and production analysis considering major factors such as revenue, cost, and gross and gross margin. The global Elevator Components Market report is comprehensive and opens the door to the international market for the products.

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Adding to this, developed nations are investing huge amounts to replace or repair existing elevators with newer elevator components so as to comply with the latest energy efficiency norms.

Key Market Segments Covered

• By Component

o Elevator Shafts
o Elevator Landing Doors
o Elevator Motors & Elevator Lift Motor Rooms
o Elevator Machine Drives
o Elevator Tension Pulleys (per Piece)
o Elevator Controllers & Indicators
o Elevator Brakes
o Elevator Counterweight Frames
o Elevator Counterweight Guide Rails
o Elevator Car Guide Rails
o Elevator Speed Governors (Bidirectional)
o Elevator Counterweight and Car Buffers
o Elevator Sensors
o Elevator Lift Cars
o Others

• By Elevator Technology

o Hydraulic Elevators
 Conventional Hydraulic Elevators
 Hole-Less Hydraulic Elevators
 Roped Hydraulic Elevators
o Traction Elevators
 Geared Traction Elevators
 Gear-Less Traction Elevators
o Machine-room-less Elevators
o Pneumatic Elevators

• By Load Capacity

o Below 650 kg
o 650 kg- 1,000 kg
o 1,000 kg- 1,600 kg
o 1,600 kg- 2,500 kg
o 2,500 kg- 5,000 kg
o Above 5,000 kg
• By Speed
o Less than 1 m/s
o Between 1 to 3 m/s
o Between 4 to 6 m/s
o Between 7 to 10 m/s
o Above 10 m/s

• By End-use Application

o Elevators for Passengers
o Elevators for Freight
• By Region
o North America
o Latin America
o Europe
o East Asia
o South Asia & Oceania
o Middle East & Africa

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Key Companies Profiled

• Adams Elevator Equipment Company (Schindler Holding AG)
• Avire Ltd (Halma plc.)
• Böhnke & Partner GmbH
• DMG
• Elevator Equipment Corporation (EECO)
• Elevator Products Corporation
• EMI / Porta Inc.,
• Fermator Group
• GAL Manufacturing Corp.
• Hans & Jos. Kronenberg GmbH
• Hissmekano AB

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Key Takeaways from Market Study

• The elevator component market is anticipated to grow 2.4X from 2021 to 2031.
• Motor components hold a major chunk equivalent to one-third of the global market share, and are set to create an absolute $ opportunity of about US$ 8.8 Bn during 2021-2031.
• Among the elevator technology types, hydraulic elevators accounted for the most demand in 2020, and are set to gain around 72.9 BPS in market share by 2031.
• By load capacity, the 650 Kg -1,000 Kg segment is expected to account for the highest consumption of elevator components during the forecast period, and create an absolute $ opportunity of around US$ 12.8 Bn during 2021-2031.
• Among the end-use applications, passenger elevators has been the fastest growing segment, owing to rapid proliferation of multi-storey buildings in the past decade, and it is expected to grow 2.4X in market value by 2031.
• Among the regions considered, East Asia is set to dominate market revenue in 2021, and is expected to create an absolute $ opportunity of around US$ 35 Bn by 2031.

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