Press release
Germany Elevator and Escalator Market is Poised to Experience the Installation of Over 28.3 Thousand Units by 2029 - Arizton
Germany Elevator and Escalator Market Research by Arizton
To Know More, Click: https://www.arizton.com/market-reports/germany-elevator-and-escalator-market
Report Summary
Market Size by New Installations (2029): 28.3 Thousand Units
Market Size by New Installations (2023): 23.3 Thousand Units
CAGR - New Installations (2023-2029): 3.32%
Market Size by Installed Base (2029): 972.8 Thousand Units
Market Size by Modernization (2023): USD 321 Million
Historic Year: 2020-2022
Base Year: 2023
Forecast Year: 2024-2029
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In H1 2023, Germany's construction sector faced substantial challenges, marked by a 47% decline in new construction compared to the average of the past two years. Home building saw an even steeper decrease of 54%, reflecting restrictive project development conditions, reduced transactions, and declining property prices. Due to the severity of these issues, the industry has sought multi-billion Euro government support, impacting significant cities like Frankfurt with delayed projects and reduced property development volumes, particularly in residential and hotel sectors. Financing difficulties further exacerbated the slowdown in real estate investments.
Conversely, the Germany elevator market showed signs of recovery post-COVID-19 in 2023, as data from KONE elevator starts in Berlin, Hamburg, and Munich indicated. Urban areas saw a 70%-114% recovery in elevator starts, with Berlin and Hamburg showing strong rebound in hospitality and tourism-related activities. Stricter safety regulations have been implemented since 2015 due to significant safety concerns in elevators, including cyber threats highlighted by TUV Rheinland. The ongoing cyber risks underscore the importance of regular inspections and cybersecurity measures to ensure elevator system safety and reliability amidst increasing digital integration.
Recent Developments in the Germany Elevator and Escalator Market
Schmersal Group, headquartered in Wuppertal, Germany, has restructured its service division to capitalize on growing demand. Their safety services, managed by tec.nicum, will expand significantly, emphasizing digitalization and holistic machine safety solutions. This move seeks to improve global coordination and utilize combined expertise. Formed as a subsidiary on April 8, tec.nicum incorporates Omnicon Engineering GmbH, acquired by Schmersal in 2019, with its headquarters in Kirkel-Limbach, Saarland, Southwest Germany.
Meanwhile, Ziehl-Abegg, a German company specializing in electric elevator motors and other drive, ventilation, and control technology components, reported its most successful year in 2023. With a sales increase of approximately 9.5% to EUR 955 million (US$1 billion), the company achieved its best performance in history. Additionally, Ziehl-Abegg made significant investments to lay the foundation for sustainable global growth and structural realignment.
Renovation And Conversion Projects Will Boost the Demand for 25-33 Persons Elevators
Germany's hospitality sector is experiencing significant growth, driven by a booming hotel construction industry and substantial investments. Despite ranking second to the UK in hotel construction projects in Q4 2023 across Europe, Germany remains a key player with 195 projects and 31,839 rooms in its pipeline. The sector is poised to expand further, with expectations of adding 364 properties and 57,926 rooms in the near future. This growth includes a notable increase in renovation and conversion projects, reflecting Germany's strategic efforts to maximize existing infrastructure and adapt to evolving market needs. This will create massive demand for 25-33 person elevators.
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Key Vendors
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KONE
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Mitsubishi Electric
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TK Elevator
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Otis
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Fujitec
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Schindler
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KOHLER Elevator GmbH
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Schmitt+Sohn Aufzuge
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Stannah Lifts Holdings Ltd.
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Cibes Lift Group
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Toshiba Elevator and Building Systems Corporation
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KLEEMANN
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HIRO LIFT
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Orona Elevators
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AKE ELEVATOR
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Lifton Home Elevators
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Brobeil Aufzuge GmbH & Co. KG
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Lift Reith GmbH & Co. KG
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Lutz Aufzuge
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Vestner Aufzuge GmbH
Elevator Market Segmentation by
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Machine Type
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Hydraulic and Pneumatic
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Machine Room Traction
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Machine Room Less Traction
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Others
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Climbing
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Elevators
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Industrial Elevators
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Carriage Type
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Passenger
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Freight
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Capacity
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2-15 Persons
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16-24 Persons
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25-33 Persons
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34 Persons and Above
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End-User
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Commercial
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Residential
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Industrial
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Others
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Public Transit
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Institutional
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Infrastructural
Escalator Market Segmentation by
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Product Type
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Parallel
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Multi Parallel
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Walkway
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Crisscross
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End-User
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Public Transit
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Commercial
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Others
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Institutional Sector
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Infrastructure
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Industrial
Key Questions Answered in the Report:
What are the key opportunities in the Germany elevator and escalator market?
What will be the growth rate of the Germany elevator and escalator market?
How big is the Germany elevator and escalator market?
What is the number of installed bases in the Germany elevator and escalator market in 2023?
What are the key Germany elevator and escalator market players?
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About Us:
Arizton Advisory and Intelligence is an innovative and quality-driven firm that offers cutting-edge research solutions to clients worldwide. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
We offer comprehensive market research reports on consumer goods & retail technology, automotive and mobility, smart tech, healthcare, life sciences, industrial machinery, chemicals, materials, I.T. and media, logistics, and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.
Arizton comprises a team of exuberant and well-experienced analysts who have mastered generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.
Media Contact
Company Name: Arizton Advisory & Intelligence
Contact Person: Jessica
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Phone: +1-312-235-2040/+1 302 469 0707
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Website: https://www.arizton.com/market-reports/germany-elevator-and-escalator-market
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