The global elevator market size was valued over USD 90 billion in 2018 and to reach USD 130 billion by 2026 with 4% CAGR from 2019 to 2026.
Trends and Opportunities
The key factor that is exerting significant impact and driving the global elevator market is rapid urbanization. According to World Bank records published in 2016, 54% of the population resides in urban areas globally and by 2045 this number is expected to increase 1.5 times with 6 billion people living in cities. Demand for residential properties has surged due to increased urbanization and rising household income. The cities of ASEAN are continually focusing on improving urban planning and building capabilities in resource rich regions and major cities with good communication and transportation systems to attract domestic and foreign direct investment, which in turn is driving the urban growth in this region. All these factors are expected to drive the global elevator market during the forecast period (2019-2026).
Mixed-block development trend is on the rise; but this is nothing new.With changing real estate trends, in recent years, the pendulum has shifted back to mixed block.
As a result, mixed-block development has become increasingly popular.Intensity of high-rise construction is increasing and also the percentage of mixed-block high rise buildings.
Mixed-block tall buildings include residential, office, retail, serviced apartments, hotels, casino, etc.
The report analyzes and forecasts the elevator market at global and regional levels. The market has been forecast based on volume (Tons) and value (US$ Mn) from 2019 to 2026. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report comprises a detailed value chain analysis, which provides a comprehensive view of the global elevator market. The Porter’s Five Forces model has also been included to help understand the competitive landscape of the market. The study encompasses market attractiveness analysis, wherein various applications have been benchmarked based on their market size, growth rate, and general attractiveness.
The study provides a decisive view of the elevator market by segmenting it in terms of form and application. The segment has been analyzed based on the present and future trends. Regional segmentation includes the current and projected demand in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The report provides size (in terms of volume and value) of elevator market for the base year 2018 and the forecast between 2019 and 2026. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
The main objective of this report is to aid the user in understanding the market as a whole, its definitions, segmentation, market potential, influential trends, and the barriers that it is facing. Meticulous research and analysis were an important part of the report preparation. Those reading the report will be able to get a detailed understanding about the market. Industry experts have verified and checked the data and information that have been taken from credible sources like websites, annual reports of companies, journals, and other resources. In order give the facts and data a pictorial form, diagrams, graphs, pie charts, and other representations have been used. That augments the visual appeal of the report and makes understanding it much easier.
The key players profiled in the elevator market report are Orona S.C., KONE Oyj, Fujitec Co., Ltd., Mitsubishi Electric Corporation, Otis Elevator Company and its parent company - United Technologies Corp., Schindler Group, Thyssenkrupp Elevator Technology (Thyssenkrupp AG), Express Lifts ltd, Hitachi, Ltd., Glarie Elevator Co. Ltd., Hyundai Elevator Co. Ltd., Shenyang Yuanda Intellectual Industry Group Co., Ltd., Eita Elevator (Malaysia) Sdn Bhd (Eita Resources Berhad), Toshiba Elevator and Building Systems Corporation, Escon Elevators Private Limited. The companies have been profiled in terms of their SWOT analysis, product portfolio, and strategic outlook.
Key financial developments of a particular company and product & company overview are some of the elements that help in acquiring information about top vendors in the market. This particular section has also included a SWOT analysis of the companies featured in the report. This will help the audience in knowing about opportunities, strengths, threats and weaknesses that are facing by the key vendors in the chemical and material industry across the world. As the competitive landscape is the most valuable part of any report, it consists of all the required information for the detailed study of top players functioning in the industries. It is also an interesting part to find how exactly these key manufacturers implement various strategies to secure the top rank in the industry. Such an in-depth information is useful for the new entrants into the industry as they would be able to learn a bit from these key vendors. Similarly, the information provided in the research report will also be valuable for the renowned key players as well, as they come to know the strategies of their counterparts to sustain in the competitive industry.
Global Elevator Market, by Deck Type
Global Elevator Market, by Destination Control
Global Elevator Market, by Building Height
Global Elevator Market, by End-use
Global Elevator Market, by Speed
Less than 1m/s
Between 1 to 3 m/s
Between 4 to 6 m/s
Between 7 to 10 m/s
Global Elevator Market, by Application
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
Primary research represents a bulk of research efforts, supplemented by extensive secondary research. Annual reports, press releases, and relevant documents of key players operating in various application areas have been reviewed for competition analysis and market understanding.
Secondary research also includes recent trends, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. These have proved to be reliable, effective, and successful approaches for obtaining precise market data, capturing market participants’ insights, and recognizing business opportunities.
The study objectives of this report are:
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