CHICAGO, Jan. 12, 2023 /PRNewswire/ -- Elevator & Escalator market to boom in the upcoming years. Arizton has recently published regional elevators and escalator industry. The research reports on Germany, the US, Italy and UAE elevator and escalator provide detailed insights on new installations, modernization, and maintenance. The market forecast has been provided based on volume and value. The market is further bifurcated into new installations, modernization, and maintenance. The new installations and maintenance market has been further bifurcated into by type, carriage type, passenger, and end-users.
The Report Provides:
Elevator and Escalator Market Size (Volume)
- Installation Base
- New Installation Type
- Modernization (In Billion)
- Maintenance (In Billion)
Elevator Market Size (Volume)
- Installation Base
- New Installation Type
- Modernization & Maintenance (In Million)
Escalator Market Size by Volume
- Installation Base
- New Installation Type
- Modernization & Maintenance (In Million)
Elevator and Escalator Market Report Scope
Report Attributes | Details |
The U.S. Elevator & Escalator Market Size by New Installations (2029) | 40.1 thousand units |
CAGR (2022-2029) | 2.62 % |
Germany Elevator & Escalator Market Size by New Installed Base (2029) | 25 thousand units |
CAGR (2022-2029) | 3.12 % |
Italy Market Size by New Installations (2029) | 35.2 thousand units |
CAGR (2022-2029) | 2.41 % |
UAE Market Size by New Installations (2029) | 17.1 thousand units |
CAGR (2022-2029) | 4.73 % |
Market Segmentation by Carriage Type | Passenger and Freight |
Market Segmentation by Capacity | 2-15 Persons, 16-24 Persons, 25-33 Persons, and 34 Persons |
Market Segmentation by End-User | Commercial, Residential, Industrial, and Others |
Market Segmentation by Type | Hydraulic and Pneumatic, Machine Room Traction, Machine Room |
Recent Trends and Developments in the US Elevators and Escalators Market
The U.S. elevator and escalator market size by new installations is expected to reach 40.1 thousand units by 2029.
In August 2020, the Otis Integrated Dispatch solution was developed for integrating service robots within buildings using cloud-based API solutions that are easier to install than traditional integrations that enhance connectivity and automated monitoring prioritizing cybersecurity. TK Elevator's strategy focuses on research and development (R&D) for the digital transformation of industry, modern mobility concepts, and energy transition as a part of its science-based emission targets across its entire value chain by signing up for "Rac" to Zero." KONE announced a partnership with Amazon Web Services (AWS) during the fourth quarter of 2021. KONE will receive global cloud capabilities from AWS, including analytics and the Internet of Things.
Cities around the country are experiencing a multi-year construction boom, powered by domestic and foreign investment and a demand for thousands of new residences. Supertall skyscrapers reaching over 984 feet are now under construction or have recently been launched in Los Angeles, Chicago, New York, and San Francisco, while other cities, such as Austin, Boston, and Philadelphia, are preparing for their new high-rises. Thereby propelling the growth of the elevator and escalator market.
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Key Vendors in the U.S.
- KONE
- Otis
- TK Elevator
- Hyundai Elevator
- KLEEMANN
- Mitsubishi Electric
- Schindler
- Fujitec
- AVT Beckett
- Colley Elevator
- Cambridge Elevating
- Hidral
- Waupaca Elevator Company
- Advanced Elevator
The Germany elevator and escalator market by new installations is expected to reach 25 thousand units by 2029.
In the first two quarters of 2022, the Big 5 regions (Berlin, Düsseldorf, Frankfurt, Hamburg, and Munich) occupied over 1.51 million square meters of space, a startling 35% rise over the same period in 2021. This development is not solely attributable to the construction of the new Tesla factory in Grünheide, which added 327,000 square meters to the first-quarter total after receiving planning authorization. The Bavarian Ministry of Housing, Construction, and Transport decided to invest USD 447.6 million in the German state's system in July 2020. The money will be used to build new stations in Brunnen, Regensburg, and LindaWürzburg, as well as to increase accessibility along the Senden-Marktoberdorf route, among other minor regional rail projects. Such factors play a crucial role in the Germany elevator and escalator market growth.
The elevators market in Germany in the year 2022 is witnessing substantial growth, representing medium year-on-year demand of 2.7% for the term 2023-2025 due to high raw material costs and neutral manufacturing activity, as fresh COVID-19 cases weighed on the recovery momentum.
Schindler adopted the Top Speed 23 program to accelerate digitization, boost product innovation, strengthen its position in key markets, and address profitability gaps. KÖHLER Elevator GmbH provides complete elevator packages for use with or without machine room traction. The company's SYMPHONY lift generation can be individually configured according to the application requirements for new installations for office buildings, residential, hotels and shopping centers, airports, and hospitals. In February 2022, meta100 and meta200 by TKE offer the desired solution for medium-height buildings. Meta200 has an "Automatic Rescue Device" that will take passengers to the nearest floor they can exit the elevator in case of being stuck in the elevator, a camera system in terms of in-cab security monitoring, and a soft and sensitive device.
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Key Vendors in the Germany
- KONE
- Mitsubishi Electric
- TK Elevator
- Otis
- Fujitec
- Schindler
- KÖHLER Elevator GmbH
- Schmitt+Sohn Aufzuge
- LIFT-OK.COM
- SJEC
- AKE ELEVATOR
- KLEEMANN Aufzüge GmbH
- Stannah Lifts Holdings Ltd.
The Italy elevator and escalator market by new installations is expected to reach 35.2 thousand units by 2029.
Italy will likely invest USD 7.8 billion to modernize and increase capacity at its docks until 2026. The funding is mainly focused on increasing the size of the ships that Italy's leading container ports can handle through dredging, new breakwaters, and improved connections to road and rail links. The government of Italy allocated USD 4.1 billion towards mobility in 2022. Out of this funding, USD 2.1 billion will be utilized for local lines and high-speed rail and around USD 1.7 billion for rapid mass transport such as metros and subways, also upgrading the bus fleet in Rome. The train run time between the Brescia-Verona-Vicenza line will be reduced by 2026 as the line between Liguria, and Alpi will compete. The upgradation of the Verona to Brennero line will also be witnessed with a value of USD 8.9 billion. In Bentivoglio, part of the Bologna Freight Village complex, Italy, to design and construct three new turnkey logistics buildings. Three structures with floor areas of 12,340 m2, 18,200 m2, and 16,700 m2 are involved. Each building will have functional office space, a warehouse, and technical facilities. Since the corporation is committed to sustainability, these buildings will be LEED Silver certified.
Milan will be one of Europe's most modernized cities, with more public and private developments and an anticipated USD 13 billion investment by 2030 (including USD 2 billion for public urbanization projects). Additionally, the housing industry in Milan will add 33,000 units by 2030, accommodating 100,000 people. Such investment initiatives are expected to support the Italy elevator and escalator market.
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Key Vendors
- Otis
- KONE
- Schindler
- TK Elevator
- Mitsubishi Electric
- Fujitec
- Stannah Lifts Holdings Ltd
- GMV Lifts
- Cibes Lift Group
- Giovenzana
- Wittur
The UAE elevator and escalator market by new installations accounted to reach 17.1 thousand units by 2029.
The RTA Dubai is pursuing the Dubai Sky Pod Transport System or Dubai Sky Pod Transit System program to accomplish the government of making 25% of Dubai's public transportation smart, autonomous, and automated by 2030. There will be a total of 21 electric Sky Pod Stations. The future RTA project will carry around 8,400 passengers per hour in one direction. Passenger sky pods are already in action at the site's million certification centre, and uSky Test as a proof-of-concept of how the technology works. The UAE market has continued to push forward with rapid growth in the industry, drawing attention to the growing demand for multi-parallel escalators in the commercial and public infrastructure sector.
Schindler UAE is rising to the demands of the Emirates, expanding urbanization, confronting obstacles with a digital strategy, and bringing people to flow management to new heights. In March 2019, KONE launched its first Regional Distribution Center (RDC) in the United Arab Emirates Dubai South Freezone (DWC). The RDC will be the Middle East and Africa's Mary distributor of KONE and non-KONE spare parts. The Schindler RISE (Schindler Robotic Installation System for Elevators) is being used to construct the Uptown Tower, a 340-meter-high skyscraper in Dubai's uptown district be finished in 2022.
Click to download the free sample report of UAE elevator and escalator market
Key Vendors
- KONE
- Mitsubishi Electric
- TK Elevator
- Hitachi
- Hyundai Elevator
- Otis
- Fujitec
- Schindler
- KÖHLER Elevator GmbH
- Sigma Elevator
- Orona
- KLEEMANN
- Toshiba Elevator and Building Systems Corporation
- ALFA Elevator Co. LLC
Check Out Some of the Top-Selling Arizton's Research Reports:
Brazil Elevator and Escalator - Market Size and Growth Forecast 2022-2028: Brazil's elevator and Escalator market is expected to reach 18.6 thousand units by 2028. Rapid urbanization, with about 85% of the population residing in urban areas and various socio-economic development projects in the pipeline, entails the creation of more opportunities for the elevator and escalator market. The incremental growth for the installed base of the Brazil elevator market will be recorded at 186,518 units during 2021-2028.
UK Elevators and Escalators - Market Size & Forecast 2022-2028: UK Elevators and escalators market is expected to reach 12.8 thousand units by 2028. Growth in residential and office infrastructure investment will be A long-term demand driver for Escalator and Elevator Market.
Philippines Elevator and Escalator - Market Size and Growth Forecast 2022-2028: The Philippines elevator and escalator market by new installations is expected to reach 3.4 thousand units by 2028 from 2.3 thousand units in 2021, growing at a CAGR of 5.36% during the forecast period (2022-2028). Increasing demand for high-rise structures and the government focus on infrastructure in key economic cities have propelled the Philippines's escalator and elevator business to new heights.
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