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Indonesia Elevator and Escalator Market Outlook: New Installations to Hit 12.88 Thousand Units by 2030 - Arizton
Indonesia Elevator and Escalator Market Research Report by Arizton
To Know More, Click: [https://www.arizton.com/market-reports/indonesia-elevator-and-escalator-market]
Report Summary
Market Size by New Installations (2030): 12.88 Thousand Units
Market Size by New Installations (2024): 10.25 Thousand Units
CAGR - New Installations (2024-2030): 3.88%
Market Size by Installed Base (2030): 177.46 Thousand Units
Market Size by Modernization (2030): $231.8 Million
Historic Year: 2021-2023
Base Year: 2024
Forecast Year: 2025-2030
Indonesia Elevator and Escalator Market Overview
The Indonesia elevator and escalator market is experiencing strong growth, with new installations projected to reach 12,886 units by 2030. The real estate sector, notably in Java, which accounts for 70% of demand, is a major contributor to this market expansion.
Government initiatives like the Green Affordable Housing Program and the development of the new capital city, Nusantara, further support market growth. Additionally, the market is boosted by the modernization and maintenance needs of aging buildings in urban areas, especially in Jakarta, Java, and Sumatra. Technological advancements, such as the integration of AI into vertical transportation, also play a key role in driving innovation.
Mitsubishi Jaya Elevator and Escalator (MJEE) secured a significant government contract in 2024 to supply elevators and escalators for key buildings in Nusantara. With Indonesia's construction sector growing rapidly, the elevator and escalator market is expected to benefit from continued infrastructure investments, forecasting a robust outlook from 2025 to 2030.
Growth in Skyscrapers and Ongoing Urbanization to Drive Demand for New Elevator Installations
Urbanization in Indonesia is significantly boosting the elevator market, particularly in cities like Surabaya, which is undergoing rapid development, reshaping property values, and altering the urban landscape. With around 60% of Indonesia's population living on the island of Java, which occupies only 7% of the total land area, the urbanization rate is expected to reach 65% by 2025.
Key projects such as the Nusantara Capital City Development will further propel demand for elevators and escalators. The city, designed to be technologically advanced, eco-friendly, and socially inclusive, will accommodate up to 1.5 million residents initially, with plans for future expansion, driving increased sales in the vertical transportation market.
E-Commerce Growth and Transportation Infrastructure Expansion to Boost Demand for 34-Person & Above Elevators
The expansion of Indonesia's e-commerce sector is driving the construction of warehouses, increasing the demand for larger elevators (34 persons & above) to support vertical freight transportation in facilities like supermarkets, shopping malls, airports, hospitals, and industrial plants. Government initiatives to expand transportation infrastructure, including metro rails and airports, are further stimulating demand for such elevators, especially in urban centers.
Notable projects like the Jakarta Mass Rapid Transit (MRT), a 25-kilometer line funded by a $1 billion Japanese loan, are expected to ease traffic congestion and contribute to the growth of elevator demand, with completion slated for 2031. These transportation infrastructure developments will continue to boost the elevator market as the country's economy grows.
Market Opportunities
Indonesia's shift toward modular construction, especially in the housing market, is creating significant opportunities for the elevator market. The adoption of sustainable building practices, such as Industrialized Building Systems (IBS), reduces carbon emissions and construction waste, driving demand for efficient elevator solutions in high-rise buildings. With a housing deficit of 12.7 million units, the government's National Affordable Housing Program (NAHP) supports modular construction to address the shortage. Indonesia's commitment to reducing greenhouse gas emissions by 2030, coupled with investments in prefabricated infrastructure, will further boost the demand for elevators and escalators in the coming years.
Recent Developments in the Indonesia Elevator and Escalator Market
* In August 2024, Otis unveiled its Gen3 Trademark connected elevator platform at its 'Platform for Possibility' launch event in Jakarta. The Gen3 elevator includes the Otis ReGen drive, LED lighting, and sleep mode to help reduce energy usage and the elevator's carbon footprint.
* Furthermore, in 2024, Mitsubishi Electric Building Solutions Corporation launched its new elevator type, NEXIEZ-Fit' in the ASEAN market. This elevator is compatible with low-rise residential buildings.
* Moreover, in December 2024, KONE announced the launch of its High-Rise MiniSpaceTM DX elevator in Southeast Asia. The elevator comes with KONE UltraRope, which is 80% lighter than traditional steel rope and three times more durable.
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Key Vendors
* Otis
* KONE
* TK Elevator
* Schindler
* Mitsubishi Electric
* Hitachi
* Hyundai Elevator
* Fujitec
* Toshiba Elevator and Building Systems Corporation
* Sigma Elevators
* IFE Elevators
* Sicher Elevator Co., Ltd.
* BLT BRILLIANT LIFTS & ESCALATORS PVT. LTD.
* SJEC
* Fuji Hengda Elevator Indonesia
* Tokyo Elevator Indonesia
* Lamda Elevator
* CANNY ELEVATOR CO., LTD.
* FUJI GLOBAL ELEVATOR
Elevator Market Segmentation by
Machine Type
* Hydraulic and Pneumatic
* Machine Room Traction
* Machine Room Less Traction
* Others
* Climbing
* Elevators
* Industrial Elevators
Carriage Type
* Passenger
* Freight
Capacity
* 2-15 Persons
* 16-24 Persons
* 25-33 Persons
* 34 Persons and Above
End-User
* Commercial
* Residential
* Industrial
* Others
* Public Transit
* Institutional
* Infrastructural
Escalator Market Segmentation by
Product Type
* Parallel
* Multi Parallel
* Walkway
* Crisscross
End-User
* Public Transit
* Commercial
* Others
* Institutional Sector
* Infrastructure
* Industrial
Key Questions Answered in the Report:
What is the number of installed bases in the Indonesia elevator and escalator market in 2024?
What will be the growth rate of the Indonesia elevator and escalator market?
How big is the Indonesia elevator and escalator market?
What are the key opportunities in the Indonesia elevator and escalator industry?
What are the key Indonesia 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.
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