Global Elevator & Escalator Market Insights & Forecast 2021-2025 Featuring Business & Financial Overview and Strategies for Otis, Kone, ThyssenKrupp, Schindler, Mitsubishi & Hitachi - ResearchAndMarkets.com

b'The "Global Elevator & Escalator Market: Insights & Forecast with Potential Impact of COVID-19 (2021-2025)" report has been added to ResearchAndMarkets.com\'s offering.\nThe global elevator & escalator (E&E) market is forecasted to record a value of US$154.91 billion in 2025, progressing at a CAGR of 7.15% during the period spanning 2021-2025.\nThe factors such as rising urbanization, upswing in digitalization, increasing geriatric population, growing construction activities and ageing E&E installed base would drive the growth of the market.\nHowever, the market growth would be challenged by high price of installation and setup, dearth of skilled workforce and stringent safety norms.

Metadata

Provider:

Business Wire, Inc.

Retrieved on:

Friday, May 14, 2021

Information

Tags:

Construction & Property, Building Systems, Transport, Escalator, Stairs, Stairways, Elevator, Urbanization, Marketplace, Human activities, Service industries

Geotags:

PHILIPPINES, US, INDIA, CHINA, ASIA, INDONESIA

⚠generated by AI ↴

Summary

Key Points:

b'The "Global Elevator & Escalator Market: Insights & Forecast with Potential Impact of COVID-19 (2021-2025)" report has been added to ResearchAndMarkets.com\'s offering.\nThe global elevator & escalator (E&E) market is forecasted to record a value of US$154.91 billion in 2025, progressing at a CAGR of 7.15% during the period spanning 2021-2025.\nThe factors such as rising urbanization, upswing in digitalization, increasing geriatric population, growing construction activities and ageing E&E installed base would drive the growth of the market.\nHowever, the market growth would be challenged by high price of installation and setup, dearth of skilled workforce and stringent safety norms.
A few notable trends may include accelerating development of smart cities, upsurge in tourism activities, surging penetration of novel technologies, escalating demand for energy efficient elevators and verticalization of cities.\nThe global E&E market is categorized on the basis of service and technology.
According to the type of service, the market can be split into maintenance, new installation/equipment and modernization.
Whereas, the global E&E market can be bifurcated into machine room-less, hydraulic and traction, in terms of technology.\nThe fastest growing regional market was Asia Pacific which is expected to dominate the market in future accruing to expansion in the construction of buildings across the residential and non-residential sectors, increasing shift towards eco-efficiency, flexible design, and safety, rising public expenditure on infrastructural development in developing countries such as Indonesia, India, China, and Philippines, surging disposable income and growing urbanization.\nFurther, disruption in the supply chain of raw materials and halted construction activities, caused by the COVID-19 pandemic, resulted in the downfall in demand for elevators and escalators, which eventually had a negative impact on its market growth globally.\n'

The "Global Elevator & Escalator Market: Insights & Forecast with Potential Impact of COVID-19 (2021-2025)" report has been added to ResearchAndMarkets.com's offering.

The global elevator & escalator (E&E) market is forecasted to record a value of US$154.91 billion in 2025, progressing at a CAGR of 7.15% during the period spanning 2021-2025.

The factors such as rising urbanization, upswing in digitalization, increasing geriatric population, growing construction activities and ageing E&E installed base would drive the growth of the market.

However, the market growth would be challenged by high price of installation and setup, dearth of skilled workforce and stringent safety norms. A few notable trends may include accelerating development of smart cities, upsurge in tourism activities, surging penetration of novel technologies, escalating demand for energy efficient elevators and verticalization of cities.

The global E&E market is categorized on the basis of service and technology. According to the type of service, the market can be split into maintenance, new installation/equipment and modernization. Whereas, the global E&E market can be bifurcated into machine room-less, hydraulic and traction, in terms of technology.

The fastest growing regional market was Asia Pacific which is expected to dominate the market in future accruing to expansion in the construction of buildings across the residential and non-residential sectors, increasing shift towards eco-efficiency, flexible design, and safety, rising public expenditure on infrastructural development in developing countries such as Indonesia, India, China, and Philippines, surging disposable income and growing urbanization.

Further, disruption in the supply chain of raw materials and halted construction activities, caused by the COVID-19 pandemic, resulted in the downfall in demand for elevators and escalators, which eventually had a negative impact on its market growth globally.

Key Topics Covered:

1. Market Overview

1.1 Elevators & Escalators

1.2 Life Cycle of Elevators & Escalators

1.3 Supply Chain

1.4 Value Chain

2. Impact of COVID-19

2.1 Reduction in Global Real Estate Investment

2.2 Decline in Industrial Production

2.3 Drop in Construction Activities

2.4 Disruption of Supply Chain

2.5 Fluctuating Rate of Trade Volume

3. Global Elevator & Escalator Market

3.1 Global E&E Market by Value

3.2 Global E&E Market Forecast by Value

3.3 Global E&E Market by Service

3.4 Global E&E Maintenance Market

3.4.1 Global E&E Maintenance Market Forecast by Value

3.4.2 Global E&E Maintenance Installed Base Volume

3.4.3 Global E&E Maintenance Installed Base Volume Forecast

3.4.4 Global E&E Maintenance Market Volume by Region

3.5 Global E&E New Equipment Market

3.5.1 Global E&E New Equipment Market Forecast by Value

3.5.2 Global E&E New Equipment Market Value by Region

3.5.3 Global E&E New Equipment Market by Volume

3.5.4 Global E&E New Equipment Market Forecast by Volume

3.5.5 Global E&E New Equipment Market Demand by Application

3.6 Global E&E Modernization Market

3.6.1 Global E&E Modernization Market Forecast by Value

3.6.2 Global E&E Modernization Market Value by Region

3.7 Global E&E Market by Technology

3.7.1 Global E&E Machine Room-less Technology Market Forecast by Value

3.7.2 Global E&E Hydraulic Technology Market Forecast by Value

3.7.3 Global E&E Traction Technology Market Forecast by Value

3.8 Global E&E Market Value by Region

4. Regional Market Analysis

4.1 Asia-Pacific

4.2 EMEA

4.3 Americas

5. Smart Elevator Market

5.1 Global Smart Elevator Market by Value

5.2 Global Smart Elevator Market Forecast by Value

5.3 Global Smart Elevator Market by End Users

5.4 Global Smart Elevator Market by Service

5.5 Asia-Pacific

6. Market Dynamics

6.1 Growth Drivers

6.1.1 Expanding Urbanization

6.1.2 Upswing in Digitalization

6.1.3 Increasing Geriatric Population

6.1.4 Growing Construction Activities

6.1.5 Ageing E&E Installed Base

6.2 Key Trends and Developments

6.2.1 Accelerating Development of Smart Cities

6.2.2 Upsurge in Tourism Activities

6.2.3 Surging Penetration of Novel Technologies

6.2.4 Escalating Demand for Energy Efficient Elevators

6.2.5 Verticalization of Cities

6.3 Challenges

6.3.1 High Price of Installation & Set Up

6.3.2 Dearth of Skilled Workforce

6.3.3 Stringent Safety Norms

7. Competitive Landscape

7.1 Global Market

7.1.1 Revenue Comparison of Key Players

7.1.2 Market Capitalization Comparison of Key Players

7.1.3 R&D Comparison of Key Players

7.1.4 Global E&E Market Share by Company

7.1.5 Global E&E New Equipment Market Share by Company

7.1.6 Global E&E Maintenance Market Share by Company

7.2 Asia-Pacific

7.2.1 Asia-Pacific E&E Market Share by Company

7.2.2 China E&E Market Share by Company

7.2.3 India E&E New Equipment Market Share by Company

7.3 EMEA

7.3.1 EMEA E&E Market Share by Company

7.3.2 Spain E&E Maintenance Market Share by Company

7.4 Americas

7.4.1 Americas E&E Market Share by Company

8. Company Profiles

8.1 Otis Worldwide Corporation

8.1.1 Business Overview

8.1.2 Financial Overview

8.1.3 Business Strategies

8.2 Kone Oyj

8.3 ThyssenKrupp AG

8.4 The Schindler Group

8.5 Mitsubishi Electric Corporation

8.6 Hitachi, Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/4bsn2h

View source version on businesswire.com: https://www.businesswire.com/news/home/20210514005307/en/