Press release
Global Elevators Market Size, Share by types, application, products, regions – Report 2023
Elevators and escalators, which have become an integral part of the urban landscape, are installed in various public and private places such as retail outlets, hotels, IT parks, mixed-used buildings, residential buildings, commercial buildings and restaurants for the movement of people and good within the premises. All these public and private places with long walking distances and multiple floors make use of elevators to improve customer experience. The elevators are also installed in airports and vehicle parking. The vendors in the global elevator market compete on the basis of the installation, maintenance and modernization services for gaining prominence in the market. The global elevators market has been segmented on the basis of its types, application areas and geography.
Rapid urbanization and an increase in geriatric population globally coupled with the maintenance and modernization of the existing elevators are strongly driving the growth of the global elevators market. Furthermore, growing green building market facilitating the installation of “energy-efficient elevators” is steadily boosting the market growth. As buildings become more intelligent and rise higher, efficient elevator and escalator systems are having a significant impact by considerably driving down the costs of operating a building and allowing people to travel farther, more efficiently. New technologies adopted by the key players in the elevator market, such as coated steel belts which are helping to replace the conventional cable ropes in a few elevators are allowing for more efficient operation. The conjoint effect of all these drivers is thus set to bolster the growth of the global elevators market during the forecast period.
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The continuing evolution of the Internet of Things (IoT) in the elevators market is offering a substantial growth opportunity to the growth of the global market. Internet of Things (IoT) is the interconnection of various devices and equipment which deliver a large amount of data over the internet. IoT makes it possible for a product to collect, exchange and analyse data with its operator, manufacturer and other devices, which is highly relevant to the elevator industry. IoT enables modern elevators to anticipate traffic and respond in real-time intelligently, communicate with service teams and allow passengers to summon the elevators via a mobile application. Further, by using a connected sensor in an elevator, the flow of passengers can be better managed by alleviating wait time. Dominant players in the elevator market such as ThyssenKruup Elevators, Otis Elevator Company and KONE Corporation are joining forces with Microsoft and IBM respectively for augmenting their operations and technological capabilities with IoT cloud services and advanced analytics technologies.
The competitive profiling of the key players in the global elevators which is inclusive of the different business strategies adopted by them and their recent developments, market across the geographic regions of North America, Europe, Asia Pacific and Rest of the World (including Latin America and Middle East and Africa) is covered under the scope of the study. The market attractive analysis of the major application areas has been included in the report, in order to provide a deep insight into the global elevators market.
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The global elevators market report is inclusive of the market dynamics, i.e. market drivers, restraints and opportunities which are the distinct that help to understand the trends of the global market. Thus, the report provides exhaustive study of the global elevators market and offers the forecast of the market for the period from 2016 to 2023.
Some of the major players in the global elevators market include, Toshiba Corporation, Mitsubishi Electric Corporation, Otis Elevator Company, Schindler Holding Ltd., Hitachi Ltd., ThyssenKrupp AG, Kone Corporation, Kleemann Hellas SA, Hyundai Elevator Co., Ltd and Fujitec Co., Ltd. among others.
The global elevators market has been segmented into:
Global Elevators Market, by Type:
Smart Elevators
Conventional Elevators
Global Elevators Market, by Application:
Commercial
Hotels
Retail
Residential
Transportation
Hospitals
Parking Building
Others
Global Elevators Market, by Geography: The market is broadly segmented on the basis of geography into:
North America
U.S.
Canada
Mexico
Europe
U.K.
Germany
Italy
France
Rest of Europe
Asia Pacific
China
India
Japan
Rest of APAC
Rest of the World
Middle East
Latin America
Africa
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Table of Content
Chapter 1 Preface
1.1 Report description
1.2 Research scope
1.3 Research methodology
Chapter 2 Executive Summary
Chapter 3 Global Elevators Market: Market Overview
3.1 Introduction
3.2 Key Trends Analysis
3.3 Market Drivers
3.3.1 Growing Green Building Market Facilitating the Installation of Energy-Efficient Elevators
3.3.2 Rapid Urbanization and Increase in Geriatric Population
3.3.3 Maintenance and Modernization of Existing Elevators
3.4 Market Restraints
3.4.1 Stringent Government Regulations
3.5 Market Opportunities
3.5.1 Continuing Evolution of Internet of Things (IoT) in Elevators
3.5.2 New Technology Usage
3.6 Market Attractiveness Analysis: By Application
3.6.1 Market Attractiveness Analysis: Recommendations
3.7 Global Elevator Market: Company Market Share Analysis
3.7.1 Market positioning of key players, 2015
3.7.2 Competitive strategies adopted by leading players
Chapter 4 Global Elevator Market Analysis, By Type, 2016 – 2023 (USD billion & Thousand Units)
4.1 Overview
4.2 Smart Elevators Market
4.2.1 Smart Elevators Market Size and Forecast, 2015 – 2023 (USD Billion & Thousand Units)
4.3 Conventional Elevators Market
4.3.1 Conventional Elevators Market Size and Forecast, 2015 – 2023 (USD Billion & Thousand Units)
Chapter 5 Global Elevator Market Analysis, By Application, 2016 – 2023 (USD Billion & Thousand Units)
5.1 Overview
5.2 Commercial Applications Market
5.2.1 Commercial Application Market Size and Forecast, 2015 – 2023 (USD Billion & Thousand Units)
5.3 Hotels Market
5.3.1 Hotels Market Size and Forecast, 2015 – 2023 (USD Billion & Thousand Units)
5.4 Retail Market
5.4.1 Retail Market Size and Forecast, 2015 - 2023 (USD Billion & Thousand Units)
5.5 Residential Market
5.5.1 Residential Market Size and Forecast, 2015 - 2023 (USD Billion & Thousand Units)
5.6 Transportation Market
5.6.1 Transportation Market Size and Forecast, 2015 - 2023 (USD Billion & Thousand Units)
5.7 Hospital Market
5.7.1 Hospital Market Size and Forecast, 2015 - 2023 (USD Billion & Thousand Units)
5.8 Parking Building Market
5.8.1 Parking Building Market Size and Forecast, 2015 - 2023 (USD Billion & Thousand Units)
5.9 Others Market
5.9.1 Others Market Size and Forecast, 2015 - 2023 (USD Billion & Thousand Units)
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