(MENAFN- America News Hour) “A research report on Elevator & Escalator Market was added by SDKI in its database which discusses the product as well as the scope of its market in detail. The report provides the business clients with an in-depth overview of the market, giving an analysis of the market trends, market size, market value and market growth over the forecast period on a compound as well as on a yearly basis. Further, the market study gives an overview of the industry on the basis of several factors such as the geographical extent, market segmentation, growth drivers and challenges prevalent in the market.
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Global elevator & escalator market is projected to grow from $ 85 billion in 2022 to around $ 105 billion by 2031, owing to the rising development of high-rise commercial and residential buildings, increasing capital inflow into the real-estate sector, and growing infrastructure development and construction activities. Moreover, improving after sales services, proactive maintenance & modernization of equipment and use of UltraRope elevator technology for high-rise buildings are expected to positively influence the global elevator & escalator market in the coming years
In terms of type, the market can bifurcate into Elevator, Escalator & Moving Walkways. Elevators dominated the market in 2019 and the segment is expected to maintain its market dominance during the forecast period, backed by the wide usage in residential sector. By elevator technology, the market is segmented into Hydraulic, Traction & Machine Room-Less Traction. Traction & Machine room less traction is the widely used elevator technology, globally, owing to its better safety features, low maintenance cost and high energy efficiency compared to other technologies.
Based on service, the market can be segmented into Maintenance & Repair, New Installation and Modernization. Maintenance and Repair service segment accounts for the largest market share, due to the increasing repair, reconstruction, and rehabilitation activities of existing infrastructure along with strict government safety norms in Europe and North America. Market players are increasingly focusing on long-term maintenance and repair contracts.
Asia-Pacific is the largest contributor with over 40% value share in 2019 in the global elevator and escalator market. China is the largest contributing country in the region, followed by Japan, South Korea and India. Growing urbanization and infrastructure projects in China are contributing to the country's leading market position. In India, the government initiatives such as National Industrial Corridor Program, Housing for All and Smart City Projects are expected to strengthen the demand for elevators and escalators in the country over the next five years.
Objective of the Study:
• The primary objective of the study is to understand and gain insights about global elevator & escalator market by value & volume and its segmental analysis by type, by service, by elevator technology, by end-user, by elevator door type, by region and by company.
• To estimate and forecast global elevator & escalator market size.
• To categorize and forecast global elevator & escalator market by type – elevator, escalator and moving walk ways.
• To categorize and forecast global elevator & escalator market by service -maintenance & repair, new installation and modernization.
• To categorize and forecast global elevator & escalator market by elevator technology including traction & machine room-less traction and hydraulic
• To categorize and forecast global elevator & escalator market by end-user – residential, commercial, institutional, infrastructure and others.
• To categorize and forecast global elevator & escalator market by elevator door type – automatic and manual.
• To categorize and forecast global elevator & escalator market by region such as Asia-Pacific, Europe, North America, South America and Middle East & Africa.
• To identify major drivers & challenges for global elevator & escalator market.
• To identify major trends in global elevator & escalator market.
• To profile major companies operating in global elevator & escalator market.
To analyze and forecast global elevator & escalator market, both top-down and bottom-up approaches have been used. Multiple employees from the leading companies have been interviewed through telephonic conversations to extract and verify the information being collected at the source. A brief study of the major players operating in global elevator & escalator market was also undertaken. Moreover, a detailed and in-depth scrutiny of information was done to understand each policy and external or internal factor which could increase or decrease the demand for elevators & escalators, globally. To extract data, primary surveys were conducted with key players and stakeholders in the industry. The future plans of major players were studied and projects which have commissioned in the country were identified.
Various secondary sources such as white papers and secondary literature on elevators & escalators, National Bureau of Statistics of China, Central Statistics Office India, Canada Statistics, MEED, General Authority for Statistics of Saudi Arabia, European Lift Association, annual reports, investor presentation, International Monetary Fund and World Bank were also studied by SDKI.
Key Target Audience:
• Elevator & escalator manufacturers, distributors and other stakeholders
• Maintenance & repair companies
• Organizations, forums and alliances related to elevator & escalator market
• Government bodies such as regulating authorities and policy makers
• Market research and consulting firms
The study is essential in delivering useful information to industry stakeholders such as manufacturing companies, assembling companies, distributors and end users related to elevator & escalator market. The report also provides useful insights about which market segments should be targeted over the coming years in order to strategize investments and capitalize on growth opportunities in specific market segments and geographies.
Report Scope:
In this report, global elevator & escalator market has been segmented into the following categories in addition to the industry trends which have also been listed below:
• Market, by Type:
o Elevator
o Escalator
o Moving Walk Ways
• Market, by Service:
o Maintenance & Repair
o New Installation
o Modernization
• Market, by Elevator Technology:
o Traction & Machine Room-Less Traction
o Hydraulic
• Market, by End-User:
o Residential
o Commercial
o Institutional
o Infrastructure
o Others
• Market, by Elevator Door Type:
o Automatic
o Manual
• Market, by Region:
o Asia-Pacific
China
Japan
South Korea
India
Australia
Malaysia
Singapore
Indonesia
Vietnam
o Europe
Germany
United Kingdom
France
Poland
Romania
Turkey
o North America
United States
Canada
Mexico
o South America
Brazil
Argentina
Colombia
o Middle East & Africa
Saudi Arabia
South Africa
UAE
Qatar
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Table of Content 1. Product Overview
2. Research Methodology
3. Impact of COVID-19 on Global Elevator & Escalator Market
4. Executive Summary
5. Voice of Customer
5.1. Brand Awareness
5.2. Brand Satisfaction
5.3. Key Factors Influencing Purchase Decision
5.4. Challenges & Unmet Needs
5.5. Annual Maintenance Service
6. Global Elevator & Escalator Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value & Volume
6.2. Market Share & Forecast
6.2.1. By Type (Elevator, Escalator and Moving Walk Ways)
6.2.2. By Service (Maintenance & Repair, New Installation and Modernization)
6.2.3. By End-User (Residential, Commercial, Institutional, Infrastructural and Others)
6.2.4. By Elevator Technology (Traction, Hydraulic and Machine Room-Less Traction)
6.2.5. By Elevator Door Type (Automatic and Manual)
6.2.6. By Region (Asia-Pacific, Europe, North America, Middle East & Africa and South America)
6.2.7. By Company
6.3. Product Map
6.3.1. By Type (Elevator, Escalator and Moving Walk Ways)
6.3.2. By Service (Maintenance & Repair, New Installation and Modernization)
6.3.3. By Elevator Technology (Traction, Hydraulic and Machine Room-Less Traction)
6.3.4. By End-User (Residential, Commercial, Institutional, Infrastructural and Others)
6.3.5. By Elevator Door Type (Automatic and Manual)
6.3.6. By Region (Asia-Pacific, Europe, North America, Middle East & Africa and South America)
7. Asia-Pacific Elevator & Escalator Market Outlook
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About SDKI :
The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count ( SDKI ) provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.