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The Elevator and Escalator Market size was estimated at USD 149.2 billion in 2023 and is expected to reach USD 265.2 billion by 2032 at a CAGR of 6.6% during the forecast period of 2024-2032.
The elevator & escalators market is growing, owing to the surge in the investment in residential and commercial buildings across developed and developing countries. In addition, major governments are planning to invest in the skyscrapers and the tallest building projects, which is propelling the market growth. In January 2024, the government of Saudi Arabia plans to invest approximately USD 500 billion in establishing a twin for a skyscraper of 500 meters. The skyscraper comprises a range of retail, residential, and office buildings. The escalating need for smarter and greener technologies is driving the need for smart elevator systems, with integration of IoT and energy-efficient technologies. Not only does the smart elevator systems enhance operational efficiency, but they also ensure better passenger safety through the use of real-time data to predict and prevent the malfunctions. This trend is also evident during new installation and modernization projects.
The building owners are increasingly modernizing and upgrading their old units to meet the newer safety codes and improved energy standards. Moreover, the escalator market is enhancing, due to the US government focus on the infrastructure renewal, including the major transport hubs. Airports, shopping malls, and the public transit systems have witnessed huge perpetration on renovation, with an extensive focus on the installation and up-gradation of the escalators. Modern escalators are equipped with regenerative drives that reduce the energy consumption. Moreover, the new technologies also align with the country’s sustainability goals, which are further driving the market.
MARKET DYNAMICS
DRIVERS
The market for elevators and escalators is growing due to increased demand for safer, more energy-efficient, and regulation-compliant systems in modernized buildings.
Renovating and modernizing existing buildings with advanced elevator and escalator systems is increasingly crucial due to the growing demand for enhanced safety, energy efficiency, and regulatory compliance. Modernization projects often involve upgrading old elevator and escalator systems to meet stringent safety standards and codes, thereby reducing the risk of accidents and improving overall building safety.
Energy efficiency is another key driver, as older systems tend to consume more power, resulting in higher operational costs and a larger carbon footprint. Upgrading to modern, energy-efficient systems equipped with regenerative drives, LED lighting, and advanced control systems can significantly reduce energy consumption and operational costs. This not only supports sustainability goals but also provides long-term economic benefits by lowering energy bills and reducing maintenance expenses. Furthermore, regulatory compliance plays a vital role in the renovation and modernization process. As building codes and standards evolve, older systems may no longer meet current requirements, necessitating upgrades to ensure compliance. Modern systems are designed to adhere to the latest regulations and standards, helping property owners avoid potential fines and legal issues.
Tech innovations such as AI elevators, IoT, and energy-efficient designs are upgrading performance, safety, and sustainability, driving the modernization of outdated systems.
Technological advancements are reshaping the elevator market with innovations such as AI-driven elevators, IoT integration, and energy-efficient designs, driving substantial improvements in performance, safety, and sustainability. AI-driven elevators utilize advanced algorithms and machine learning to optimize traffic flow and predict maintenance needs, leading to reduced wait times and enhanced operational efficiency. These systems can learn from usage patterns to dynamically adjust performance, providing a smoother and more responsive user experience. IoT integration further elevates the market by connecting elevators to a network, allowing real-time monitoring and control. This connectivity enables predictive maintenance, where potential issues are identified and addressed before they lead to failures, thus minimizing downtime and repair costs. Additionally, IoT-enabled elevators can provide valuable data analytics for building managers to optimize performance and energy consumption. Energy-efficient designs are another key advancement, incorporating technologies such as regenerative drives and LED lighting to reduce power consumption and lower operational costs. Regenerative drives, for instance, capture and reuse energy during braking, contributing to significant energy savings. These advancements collectively drive the modernization of older elevator systems, encouraging upgrades that align with contemporary standards for efficiency and sustainability.
RESTRAIN
High costs of installing and maintaining advanced IoT-enabled elevators and escalators can deter smaller developers and building owners from adopting these modern systems.
The increased expenses associated with the implementation and maintenance of IoT-enabled solutions for elevators and escalators undoubtedly created a serious financial burden on developers/owners of buildings, especially those of medium and small scale. Highly efficient and connected systems based on cutting-edge technology required enormous initial costs as the price for initial investment. The need for professional maintenance and service also became more complicated due to the new level of sophistication in all operations. In such a way, costs related to the installation and operation of elevators and escalators went beyond what smaller companies could afford. This factor might put certain restrictions on the segment of the market regarding modern elevators and escalators. As a result, available technologies could be applicable only for big enterprises, leaving other firms with poor opportunities in applying advanced systems. Such financial impediments could result in slowed or stagnated growth in the market of elevators and escalators and impede advances to more technologically-enriched solutions currently in development.
KEY MARKET SEGMENTATION
By Product
The Elevators segment accounted for the highest revenue share of over 36.2%, and is expected to grow significantly during the forecast period. This is owing to rising demand from the residential, commercial, and industrial. Additionally, growth in the aging population across China, India, and others create the demand for elevators, which fuel the market growth.
The Escalator is expected to grow steadily during the forecast period, owing to rising demand from commercial parks, high rise buildings, amusement parks, and shopping malls. In addition, a rising number of shopping malls, and commercial spaces across the globe will drives the market growth.
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By Business
By Application
In 2023, Residential segment accounted for the highest revenue share of over 34.28%, This is owing to rising in product penetration across multi-homes, and residential apartments. In addition, increasing investment in the residential sector will drive the market growth
REGIONAL ANALYSES
North America was the dominant region in 2023, generating more than 42.2% of the revenue as most smart buildings are installed and modernized with traditional building structures. Market players have a prominent market advantage in the U.S. and Canada, offer their service to their final customers and modernize their buildings by providing elevator & escalator services. Moreover, a surge in the number of eco-friendly infrastructural activities and the development of smart cities in the U.S. to incite the demand for elevators and escalators expected to fuel the market growth in the forecast period.
Europe is expected to grow moderately in the prediction period as the renovation and modernization of high-rise building infrastructure across Germany, the U.K., France, and others are expected to foster the growth. Additionally, the aging population in Europe, namely Germany, Spain, the UK, and Greece, is expected to create demand for elevator Upgrading Services.
KEY PLAYERS
The major Key players are Fujitec Co. Ltd (Japan), Hitachi, Ltd., (Japan), Hyundai Elevator Co Ltd (South Korea), KONE CORPORATION, Mitsubishi Electric Corporation (Japan), Otis Worldwide Corporation (U.S.), Schindler (Switzerland), SJEC Corporation (China), TK Elevator GmbH (Germany), Toshiba Corporation (Japan), CT Elevator Pte Ltd, ThyssenKrupp AG, and others.
RECENT DEVELOPMENT
In March 2024: Otis Worldwide Corporation received an order for the modernization of 34 elevators in Burj Khalifa based in the U.A.E. The Burj Khalifa is the world’s tallest building. The company got a maintenance and modernization contract for ten years.
In October 2023: TK Elevator GmbH launched the new EXO Renew Series of elevators for low-rise and high-rise residential buildings. It is versatile, designed for using 100% green electricity and requires 28% less energy compared to other models.
| Report Attributes | Details |
| Market Size in 2023 | US$ 149.2 Bn |
| Market Size by 2032 | US$ 265.2 Bn |
| CAGR | CAGR of 6.6% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Product (Elevators, Escalators, Moving Walkway) • By Business (New Equipment, Maintenance, Modernization) • By Application (Residential, Commercial, Industrial) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Company Profiles | Fujitec Co. Ltd (Japan), Hitachi Ltd (Japan), Hyundai Elevator Co Ltd (South Korea), Kone Corporation (Finland), Mitsubishi Electric Corporation (Japan), Otis Worldwide Corporation (U.S.), Schindler (Switzerland), SJEC Corporation (China), TK Elevator GmbH (Germany), Toshiba Corporation (Japan) |
| Key Drivers | • The market for elevators and escalators is growing due to increased demand for safer, more energy-efficient, and regulation-compliant systems in modernized buildings.
• Tech innovations such as AI elevators, IoT, and energy-efficient designs are upgrading performance, safety, and sustainability, driving the modernization of outdated systems. |
| Market Challenges | • High costs of installing and maintaining advanced IoT-enabled elevators and escalators can deter smaller developers and building owners from adopting these modern systems. |
North America is the dominating region in the Elevator and Escalator Market.
Tech innovations such as AI elevators, IoT, and energy-efficient designs are upgrading performance, safety, and sustainability, driving the modernization of outdated systems.
Elevators segmentation is the dominating segment by Product in the Elevator and Escalator Market.
Elevator and Escalator Market size was USD 149.2 Billion in 2023 and is expected to Reach USD 265.2 Billion by 2032.
The Elevator and Escalator Market is expected to grow at a CAGR of 6.6%.
TABLE OF CONTENT
1. Introduction
1.1 Market Definition
1.2 Scope (Inclusion and Exclusions)
1.3 Research Assumptions
2. Executive Summary
2.1 Market Overview
2.2 Regional Synopsis
2.3 Competitive Summary
3. Research Methodology
3.1 Top-Down Approach
3.2 Bottom-up Approach
3.3. Data Validation
3.4 Primary Interviews
4. Market Dynamics Impact Analysis
4.1 Market Driving Factors Analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2 PESTLE Analysis
4.3 Porter’s Five Forces Model
5. Statistical Insights and Trends Reporting
5.1 Manufacturing Output, by Region, (2020-2023)
5.2 Utilization Rates, by Region, (2020-2023)
5.3 Maintenance and Downtime Metrix
5.4 Technological Adoption Rates, by Region
5.6 Export/Import Data, by Region (2023)
6. Competitive Landscape
6.1 List of Major Companies, By Region
6.2 Market Share Analysis, By Region
6.3 Product Benchmarking
6.3.1 Product specifications and features
6.3.2 Pricing
6.4 Strategic Initiatives
6.4.1 Marketing and promotional activities
6.4.2 Distribution and Supply Chain Strategies
6.4.3 Expansion plans and new product launches
6.4.4 Strategic partnerships and collaborations
6.5 Technological Advancements
6.6 Market Positioning and Branding
7. Elevator and Escalator Market Segmentation, By Product
7.1 Chapter Overview
7.2 Elevators
7.2.1 Elevators Market Trends Analysis (2020-2032)
7.2.2 Elevators Market Size Estimates and Forecasts to 2032 (USD Million)
7.3 Escalators
7.3.1 Escalators Market Trends Analysis (2020-2032)
7.3.2 Escalators Market Size Estimates and Forecasts to 2032 (USD Million)
7.4 Moving Walkway
7.4.1 Moving Walkway Market Trends Analysis (2020-2032)
7.4.2 Moving Walkway Market Size Estimates and Forecasts to 2032 (USD Million)
8. Elevator and Escalator Market Segmentation, By Business
8.1 Chapter Overview
8.2 New Equipment
8.2.1 New Equipment Market Trends Analysis (2020-2032)
8.2.2 New Equipment Market Size Estimates and Forecasts to 2032 (USD Million)
8.3 Maintenance
8.3.1 Maintenance Market Trends Analysis (2020-2032)
8.3.2 Maintenance Market Size Estimates and Forecasts to 2032 (USD Million)
8.4 Modernization
8.4.1 Modernization Market Trends Analysis (2020-2032)
8.4.2 Modernization Market Size Estimates and Forecasts to 2032 (USD Million)
9. Elevator and Escalator Market Segmentation, By Application
9.1 Chapter Overview
9.2 Residential
9.2.1 Residential Market Trends Analysis (2020-2032)
9.2.2 Residential Market Size Estimates and Forecasts to 2032 (USD Million)
9.3 Commercial
9.3.1 Commercial Market Trends Analysis (2020-2032)
9.3.2 Commercial Market Size Estimates and Forecasts to 2032 (USD Million)
9.4 Industrial
9.4.1 Industrial Market Trends Analysis (2020-2032)
9.4.2 Industrial Market Size Estimates and Forecasts to 2032 (USD Million)
10. Regional Analysis
10.1 Chapter Overview
10.2 North America
10.2.1 Trends Analysis
10.2.2 North America Elevator and Escalator Market Estimates and Forecasts, by Country (2020-2032) (USD Million)
10.2.3 North America Elevator and Escalator Market Estimates and Forecasts, by Product (2020-2032) (USD Million)
10.2.4 North America Elevator and Escalator Market Estimates and Forecasts, by Business (2020-2032) (USD Million)
10.2.5 North America Elevator and Escalator Market Estimates and Forecasts, by Application (2020-2032) (USD Million)
10.2.6 USA
10.2.6.1 USA Elevator and Escalator Market Estimates and Forecasts, by Product (2020-2032) (USD Million)
10.2.6.2 USA Elevator and Escalator Market Estimates and Forecasts, by Business (2020-2032) (USD Million)
10.2.6.3 USA Elevator and Escalator Market Estimates and Forecasts, by Application (2020-2032) (USD Million)
10.2.7 Canada
10.2.7.1 Canada Elevator and Escalator Market Estimates and Forecasts, by Product (2020-2032) (USD Million)
10.2.7.2 Canada Elevator and Escalator Market Estimates and Forecasts, by Business (2020-2032) (USD Million)
10.2.7.3 Canada Elevator and Escalator Market Estimates and Forecasts, by Application (2020-2032) (USD Million)
10.2.8 Mexico
10.2.8.1 Mexico Elevator and Escalator Market Estimates and Forecasts, by Product (2020-2032) (USD Million)
10.2.8.2 Mexico Elevator and Escalator Market Estimates and Forecasts, by Business (2020-2032) (USD Million)
10.2.8.3 Mexico Elevator and Escalator Market Estimates and Forecasts, by Application (2020-2032) (USD Million)
10.3 Europe
10.3.1 Eastern Europe
10.3.1.1 Trends Analysis
10.3.1.2 Eastern Europe Elevator and Escalator Market Estimates and Forecasts, by Country (2020-2032) (USD Million)
10.3.1.3 Eastern Europe Elevator and Escalator Market Estimates and Forecasts, by Product (2020-2032) (USD Million)
10.3.1.4 Eastern Europe Elevator and Escalator Market Estimates and Forecasts, by Business (2020-2032) (USD Million)
10.3.1.5 Eastern Europe Elevator and Escalator Market Estimates and Forecasts, by Application (2020-2032) (USD Million)
10.3.1.6 Poland
10.3.1.6.1 Poland Elevator and Escalator Market Estimates and Forecasts, by Product (2020-2032) (USD Million)
10.3.1.6.2 Poland Elevator and Escalator Market Estimates and Forecasts, by Business (2020-2032) (USD Million)
10.3.1.6.3 Poland Elevator and Escalator Market Estimates and Forecasts, by Application (2020-2032) (USD Million)
10.3.1.7 Romania
10.3.1.7.1 Romania Elevator and Escalator Market Estimates and Forecasts, by Product (2020-2032) (USD Million)
10.3.1.7.2 Romania Elevator and Escalator Market Estimates and Forecasts, by Business (2020-2032) (USD Million)
10.3.1.7.3 Romania Elevator and Escalator Market Estimates and Forecasts, by Application (2020-2032) (USD Million)
10.3.1.8 Hungary
10.3.1.8.1 Hungary Elevator and Escalator Market Estimates and Forecasts, by Product (2020-2032) (USD Million)
10.3.1.8.2 Hungary Elevator and Escalator Market Estimates and Forecasts, by Business (2020-2032) (USD Million)
10.3.1.8.3 Hungary Elevator and Escalator Market Estimates and Forecasts, by Application (2020-2032) (USD Million)
10.3.1.9 Turkey
10.3.1.9.1 Turkey Elevator and Escalator Market Estimates and Forecasts, by Product (2020-2032) (USD Million)
10.3.1.9.2 Turkey Elevator and Escalator Market Estimates and Forecasts, by Business (2020-2032) (USD Million)
10.3.1.9.3 Turkey Elevator and Escalator Market Estimates and Forecasts, by Application (2020-2032) (USD Million)
10.3.1.10 Rest of Eastern Europe
10.3.1.10.1 Rest of Eastern Europe Elevator and Escalator Market Estimates and Forecasts, by Product (2020-2032) (USD Million)
10.3.1.10.2 Rest of Eastern Europe Elevator and Escalator Market Estimates and Forecasts, by Business (2020-2032) (USD Million)
10.3.1.10.3 Rest of Eastern Europe Elevator and Escalator Market Estimates and Forecasts, by Application (2020-2032) (USD Million)
10.3.2 Western Europe
10.3.2.1 Trends Analysis
10.3.2.2 Western Europe Elevator and Escalator Market Estimates and Forecasts, by Country (2020-2032) (USD Million)
10.3.2.3 Western Europe Elevator and Escalator Market Estimates and Forecasts, by Product (2020-2032) (USD Million)
10.3.2.4 Western Europe Elevator and Escalator Market Estimates and Forecasts, by Business (2020-2032) (USD Million)
10.3.2.5 Western Europe Elevator and Escalator Market Estimates and Forecasts, by Application (2020-2032) (USD Million)
10.3.2.6 Germany
10.3.2.6.1 Germany Elevator and Escalator Market Estimates and Forecasts, by Product (2020-2032) (USD Million)
10.3.2.6.2 Germany Elevator and Escalator Market Estimates and Forecasts, by Business (2020-2032) (USD Million)
10.3.2.6.3 Germany Elevator and Escalator Market Estimates and Forecasts, by Application (2020-2032) (USD Million)
10.3.2.7 France
10.3.2.7.1 France Elevator and Escalator Market Estimates and Forecasts, by Product (2020-2032) (USD Million)
10.3.2.7.2 France Elevator and Escalator Market Estimates and Forecasts, by Business (2020-2032) (USD Million)
10.3.2.7.3 France Elevator and Escalator Market Estimates and Forecasts, by Application (2020-2032) (USD Million)
10.3.2.8 UK
10.3.2.8.1 UK Elevator and Escalator Market Estimates and Forecasts, by Product (2020-2032) (USD Million)
10.3.2.8.2 UK Elevator and Escalator Market Estimates and Forecasts, by Business (2020-2032) (USD Million)
10.3.2.8.3 UK Elevator and Escalator Market Estimates and Forecasts, by Application (2020-2032) (USD Million)
10.3.2.9 Italy
10.3.2.9.1 Italy Elevator and Escalator Market Estimates and Forecasts, by Product (2020-2032) (USD Million)
10.3.2.9.2 Italy Elevator and Escalator Market Estimates and Forecasts, by Business (2020-2032) (USD Million)
10.3.2.9.3 Italy Elevator and Escalator Market Estimates and Forecasts, by Application (2020-2032) (USD Million)
10.3.2.10 Spain
10.3.2.10.1 Spain Elevator and Escalator Market Estimates and Forecasts, by Product (2020-2032) (USD Million)
10.3.2.10.2 Spain Elevator and Escalator Market Estimates and Forecasts, by Business (2020-2032) (USD Million)
10.3.2.10.3 Spain Elevator and Escalator Market Estimates and Forecasts, by Application (2020-2032) (USD Million)
10.3.2.11 Netherlands
10.3.2.11.1 Netherlands Elevator and Escalator Market Estimates and Forecasts, by Product (2020-2032) (USD Million)
10.3.2.11.2 Netherlands Elevator and Escalator Market Estimates and Forecasts, by Business (2020-2032) (USD Million)
10.3.2.11.3 Netherlands Elevator and Escalator Market Estimates and Forecasts, by Application (2020-2032) (USD Million)
10.3.2.12 Switzerland
10.3.2.12.1 Switzerland Elevator and Escalator Market Estimates and Forecasts, by Product (2020-2032) (USD Million)
10.3.2.12.2 Switzerland Elevator and Escalator Market Estimates and Forecasts, by Business (2020-2032) (USD Million)
10.3.2.12.3 Switzerland Elevator and Escalator Market Estimates and Forecasts, by Application (2020-2032) (USD Million)
10.3.2.13 Austria
10.3.2.13.1 Austria Elevator and Escalator Market Estimates and Forecasts, by Product (2020-2032) (USD Million)
10.3.2.13.2 Austria Elevator and Escalator Market Estimates and Forecasts, by Business (2020-2032) (USD Million)
10.3.2.13.3 Austria Elevator and Escalator Market Estimates and Forecasts, by Application (2020-2032) (USD Million)
10.3.2.14 Rest of Western Europe
10.3.2.14.1 Rest of Western Europe Elevator and Escalator Market Estimates and Forecasts, by Product (2020-2032) (USD Million)
10.3.2.14.2 Rest of Western Europe Elevator and Escalator Market Estimates and Forecasts, by Business (2020-2032) (USD Million)
10.3.2.14.3 Rest of Western Europe Elevator and Escalator Market Estimates and Forecasts, by Application (2020-2032) (USD Million)
10.4 Asia-Pacific
10.4.1 Trends Analysis
10.4.2 Asia-Pacific Elevator and Escalator Market Estimates and Forecasts, by Country (2020-2032) (USD Million)
10.4.3 Asia-Pacific Elevator and Escalator Market Estimates and Forecasts, by Product (2020-2032) (USD Million)
10.4.4 Asia-Pacific Elevator and Escalator Market Estimates and Forecasts, by Business (2020-2032) (USD Million)
10.4.5 Asia-Pacific Elevator and Escalator Market Estimates and Forecasts, by Application (2020-2032) (USD Million)
10.4.6 China
10.4.6.1 China Elevator and Escalator Market Estimates and Forecasts, by Product (2020-2032) (USD Million)
10.4.6.2 China Elevator and Escalator Market Estimates and Forecasts, by Business (2020-2032) (USD Million)
10.4.6.3 China Elevator and Escalator Market Estimates and Forecasts, by Application (2020-2032) (USD Million)
10.4.7 India
10.4.7.1 India Elevator and Escalator Market Estimates and Forecasts, by Product (2020-2032) (USD Million)
10.4.7.2 India Elevator and Escalator Market Estimates and Forecasts, by Business (2020-2032) (USD Million)
10.4.7.3 India Elevator and Escalator Market Estimates and Forecasts, by Application (2020-2032) (USD Million)
10.4.8 Japan
10.4.8.1 Japan Elevator and Escalator Market Estimates and Forecasts, by Product (2020-2032) (USD Million)
10.4.8.2 Japan Elevator and Escalator Market Estimates and Forecasts, by Business (2020-2032) (USD Million)
10.4.8.3 Japan Elevator and Escalator Market Estimates and Forecasts, by Application (2020-2032) (USD Million)
10.4.9 South Korea
10.4.9.1 South Korea Elevator and Escalator Market Estimates and Forecasts, by Product (2020-2032) (USD Million)
10.4.9.2 South Korea Elevator and Escalator Market Estimates and Forecasts, by Business (2020-2032) (USD Million)
10.4.9.3 South Korea Elevator and Escalator Market Estimates and Forecasts, by Application (2020-2032) (USD Million)
10.4.10 Vietnam
10.4.10.1 Vietnam Elevator and Escalator Market Estimates and Forecasts, by Product (2020-2032) (USD Million)
10.4.10.2 Vietnam Elevator and Escalator Market Estimates and Forecasts, by Business (2020-2032) (USD Million)
10.4.10.3 Vietnam Elevator and Escalator Market Estimates and Forecasts, by Application (2020-2032) (USD Million)
10.4.11 Singapore
10.4.11.1 Singapore Elevator and Escalator Market Estimates and Forecasts, by Product (2020-2032) (USD Million)
10.4.11.2 Singapore Elevator and Escalator Market Estimates and Forecasts, by Business (2020-2032) (USD Million)
10.4.11.3 Singapore Elevator and Escalator Market Estimates and Forecasts, by Application (2020-2032) (USD Million)
10.4.12 Australia
10.4.12.1 Australia Elevator and Escalator Market Estimates and Forecasts, by Product (2020-2032) (USD Million)
10.4.12.2 Australia Elevator and Escalator Market Estimates and Forecasts, by Business (2020-2032) (USD Million)
10.4.12.3 Australia Elevator and Escalator Market Estimates and Forecasts, by Application (2020-2032) (USD Million)
10.4.13 Rest of Asia-Pacific
10.4.13.1 Rest of Asia-Pacific Elevator and Escalator Market Estimates and Forecasts, by Product (2020-2032) (USD Million)
10.4.13.2 Rest of Asia-Pacific Elevator and Escalator Market Estimates and Forecasts, by Business (2020-2032) (USD Million)
10.4.13.3 Rest of Asia-Pacific Elevator and Escalator Market Estimates and Forecasts, by Application (2020-2032) (USD Million)
10.5 Middle East and Africa
10.5.1 Middle East
10.5.1.1 Trends Analysis
10.5.1.2 Middle East Elevator and Escalator Market Estimates and Forecasts, by Country (2020-2032) (USD Million)
10.5.1.3 Middle East Elevator and Escalator Market Estimates and Forecasts, by Product (2020-2032) (USD Million)
10.5.1.4 Middle East Elevator and Escalator Market Estimates and Forecasts, by Business (2020-2032) (USD Million)
10.5.1.5 Middle East Elevator and Escalator Market Estimates and Forecasts, by Application (2020-2032) (USD Million)
10.5.1.6 UAE
10.5.1.6.1 UAE Elevator and Escalator Market Estimates and Forecasts, by Product (2020-2032) (USD Million)
10.5.1.6.2 UAE Elevator and Escalator Market Estimates and Forecasts, by Business (2020-2032) (USD Million)
10.5.1.6.3 UAE Elevator and Escalator Market Estimates and Forecasts, by Application (2020-2032) (USD Million)
10.5.1.7 Egypt
10.5.1.7.1 Egypt Elevator and Escalator Market Estimates and Forecasts, by Product (2020-2032) (USD Million)
10.5.1.7.2 Egypt Elevator and Escalator Market Estimates and Forecasts, by Business (2020-2032) (USD Million)
10.5.1.7.3 Egypt Elevator and Escalator Market Estimates and Forecasts, by Application (2020-2032) (USD Million)
10.5.1.8 Saudi Arabia
10.5.1.8.1 Saudi Arabia Elevator and Escalator Market Estimates and Forecasts, by Product (2020-2032) (USD Million)
10.5.1.8.2 Saudi Arabia Elevator and Escalator Market Estimates and Forecasts, by Business (2020-2032) (USD Million)
10.5.1.8.3 Saudi Arabia Elevator and Escalator Market Estimates and Forecasts, by Application (2020-2032) (USD Million)
10.5.1.9 Qatar
10.5.1.9.1 Qatar Elevator and Escalator Market Estimates and Forecasts, by Product (2020-2032) (USD Million)
10.5.1.9.2 Qatar Elevator and Escalator Market Estimates and Forecasts, by Business (2020-2032) (USD Million)
10.5.1.9.3 Qatar Elevator and Escalator Market Estimates and Forecasts, by Application (2020-2032) (USD Million)
10.5.1.10 Rest of Middle East
10.5.1.10.1 Rest of Middle East Elevator and Escalator Market Estimates and Forecasts, by Product (2020-2032) (USD Million)
10.5.1.10.2 Rest of Middle East Elevator and Escalator Market Estimates and Forecasts, by Business (2020-2032) (USD Million)
10.5.1.10.3 Rest of Middle East Elevator and Escalator Market Estimates and Forecasts, by Application (2020-2032) (USD Million)
10.5.2 Africa
10.5.2.1 Trends Analysis
10.5.2.2 Africa Elevator and Escalator Market Estimates and Forecasts, by Country (2020-2032) (USD Million)
10.5.2.3 Africa Elevator and Escalator Market Estimates and Forecasts, by Product (2020-2032) (USD Million)
10.5.2.4 Africa Elevator and Escalator Market Estimates and Forecasts, by Business (2020-2032) (USD Million)
10.5.2.5 Africa Elevator and Escalator Market Estimates and Forecasts, by Application (2020-2032) (USD Million)
10.5.2.6 South Africa
10.5.2.6.1 South Africa Elevator and Escalator Market Estimates and Forecasts, by Product (2020-2032) (USD Million)
10.5.2.6.2 South Africa Elevator and Escalator Market Estimates and Forecasts, by Business (2020-2032) (USD Million)
10.5.2.6.3 South Africa Elevator and Escalator Market Estimates and Forecasts, by Application (2020-2032) (USD Million)
10.5.2.7 Nigeria
10.5.2.7.1 Nigeria Elevator and Escalator Market Estimates and Forecasts, by Product (2020-2032) (USD Million)
10.5.2.7.2 Nigeria Elevator and Escalator Market Estimates and Forecasts, by Business (2020-2032) (USD Million)
10.5.2.7.3 Nigeria Elevator and Escalator Market Estimates and Forecasts, by Application (2020-2032) (USD Million)
10.5.2.8 Rest of Africa
10.5.2.8.1 Rest of Africa Elevator and Escalator Market Estimates and Forecasts, by Product (2020-2032) (USD Million)
10.5.2.8.2 Rest of Africa Elevator and Escalator Market Estimates and Forecasts, by Business (2020-2032) (USD Million)
10.5.2.8.3 Rest of Africa Elevator and Escalator Market Estimates and Forecasts, by Application (2020-2032) (USD Million)
10.6 Latin America
10.6.1 Trends Analysis
10.6.2 Latin America Elevator and Escalator Market Estimates and Forecasts, by Country (2020-2032) (USD Million)
10.6.3 Latin America Elevator and Escalator Market Estimates and Forecasts, by Product (2020-2032) (USD Million)
10.6.4 Latin America Elevator and Escalator Market Estimates and Forecasts, by Business (2020-2032) (USD Million)
10.6.5 Latin America Elevator and Escalator Market Estimates and Forecasts, by Application (2020-2032) (USD Million)
10.6.6 Brazil
10.6.6.1 Brazil Elevator and Escalator Market Estimates and Forecasts, by Product (2020-2032) (USD Million)
10.6.6.2 Brazil Elevator and Escalator Market Estimates and Forecasts, by Business (2020-2032) (USD Million)
10.6.6.3 Brazil Elevator and Escalator Market Estimates and Forecasts, by Application (2020-2032) (USD Million)
10.6.7 Argentina
10.6.7.1 Argentina Elevator and Escalator Market Estimates and Forecasts, by Product (2020-2032) (USD Million)
10.6.7.2 Argentina Elevator and Escalator Market Estimates and Forecasts, by Business (2020-2032) (USD Million)
10.6.7.3 Argentina Elevator and Escalator Market Estimates and Forecasts, by Application (2020-2032) (USD Million)
10.6.8 Colombia
10.6.8.1 Colombia Elevator and Escalator Market Estimates and Forecasts, by Product (2020-2032) (USD Million)
10.6.8.2 Colombia Elevator and Escalator Market Estimates and Forecasts, by Business (2020-2032) (USD Million)
10.6.8.3 Colombia Elevator and Escalator Market Estimates and Forecasts, by Application (2020-2032) (USD Million)
10.6.9 Rest of Latin America
10.6.9.1 Rest of Latin America Elevator and Escalator Market Estimates and Forecasts, by Product (2020-2032) (USD Million)
10.6.9.2 Rest of Latin America Elevator and Escalator Market Estimates and Forecasts, by Business (2020-2032) (USD Million)
10.6.9.3 Rest of Latin America Elevator and Escalator Market Estimates and Forecasts, by Application (2020-2032) (USD Million)
11. Company Profiles
11.1 Fujitec Co. Ltd (Japan)
11.1.1 Company Overview
11.1.2 Financial
11.1.3 Products/ Services Offered
11.1.4 SWOT Analysis
11.2 Hitachi Ltd (Japan)
11.2.1 Company Overview
11.2.2 Financial
11.2.3 Products/ Services Offered
11.2.4 SWOT Analysis
11.3 Hyundai Elevator Co Ltd (South Korea)
11.3.1 Company Overview
11.3.2 Financial
11.3.3 Products/ Services Offered
11.3.4 SWOT Analysis
11.4 Kone Corporation (Finland)
11.4.1 Company Overview
11.4.2 Financial
11.4.3 Products/ Services Offered
11.4.4 SWOT Analysis
11.5 Mitsubishi Electric Corporation (Japan)
11.5.1 Company Overview
11.5.2 Financial
11.5.3 Products/ Services Offered
11.5.4 SWOT Analysis
11.6 Otis Worldwide Corporation (U.S.)
11.6.1 Company Overview
11.6.2 Financial
11.6.3 Products/ Services Offered
11.6.4 SWOT Analysis
11.7 Schindler (Switzerland)
11.7.1 Company Overview
11.7.2 Financial
11.7.3 Products/ Services Offered
11.7.4 SWOT Analysis
11.8 SJEC Corporation (China)
11.8.1 Company Overview
11.8.2 Financial
11.8.3 Products/ Services Offered
11.8.4 SWOT Analysis
11.9 TK Elevator GmbH (Germany)
11.9.1 Company Overview
11.9.2 Financial
11.9.3 Products/ Services Offered
11.9.4 SWOT Analysis
11.10 Toshiba Corporation (Japan)
11.10.1 Company Overview
11.10.2 Financial
11.10.3 Products/ Services Offered
11.10.4 SWOT Analysis
12. Use Cases and Best Practices
13. Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
Key Segments
By Product
Elevators
Escalators
Moving Walkway
By Business
New Equipment
Maintenance
Modernization
By Application
Residential
Commercial
Industrial
Request for Segment Customization as per your Business Requirement: Segment Customization Request
Regional Coverage
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
Request for Country Level Research Report: Country Level Customization Request
Available Customization
With the given market data, SNS Insider offers customization as per the company’s specific needs. The following customization options are available for the report:
Product Analysis
Criss-Cross segment analysis (e.g. Product X Application)
Product Matrix which gives a detailed comparison of product portfolio of each company
Geographic Analysis
Additional countries in any of the regions
Company Information
Detailed analysis and profiling of additional market players (Up to five)
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