Elevator Service Market Forecast 2020-2025 - Top 4 OEMs are Otis, Schindler, Kone and Thyssenkrupp Elevators

DUBLIN, July 20, 2020 /PRNewswire/ -- The "Global Elevator Service Market - Analysis by Service Type, End-User, by Region, by Country (2020 Edition): Market Insights, COVID-19 Impact, Competition and Forecast (2020-2025)" report has been added to ResearchAndMarkets.com's offering.

The Global Elevator Service Market, valued at USD 34.9 billion in the year 2019, with service business (including maintenance & repair and modernisation) accounting for more than half of the annual revenues of the top four OEMs - Otis, Schindler, Kone and Thyssenkrupp Elevators.

Also, owing to mature installed base of elevator in the regions like Europe and North America, the elevator service business market is witnessing steady growth. The initiatives by leading OEMs to provide Internet of Things (IoT) and Artificial Intelligence solutions in their services contracts will also result in growth of elevator services business in the near future.

Among the Service Type segment in the Elevator Service market (Maintenance & Repair, Modernization), Elevator maintenance plans help avoid costly, large repairs and replacements of elevator parts, which ultimately saves customers money and avoids problematic breakdowns, which cause elevator downtime. The elevator maintenance plans are specifically designed to keep systems running consistently by finding, diagnosing and fixing problems before they cause a shutdown.

Based on End-User segment, Residential segment holds the largest market share in year 2019. Growing ageing population as well as rapid urbanization in the economies resulted in the growth of elevator industry globally which will further boost the demand for maintenance & repair as well as modernization services in the market.

The Europe region has the largest market share in year 2019 while it is estimated that Europe will remain dominant during the forecast period. Also, North America accounts for 8% of the global E&E installed base and around 25,000 units in new installations in a 900k global elevator market. The region is characterized by a higher commercial segment share which bodes well for stable and profitable aftermarket growth. Most of the installed base is hydraulic in nature but the share of machine-room-less (MRL) elevators has been increasing, and currently constitutes about two-thirds of the new installations.

Scope of the Report

• The report analyses the Elevator Service market by Value.
• The report analyses the Elevator Service Market by Service Type (Maintenance & Repair, Modernization).
• The report assesses the Elevator Service market by End-User (Residential, Commercial).
• The Global Elevator Service Market has been analysed by Region (North America, Europe, Asia-Pacific) and by Country (United States, Canada, Germany, France, Spain, United Kingdom, China, Japan, India, South Korea)
• Also, the attractiveness of the market has been presented by region, Service Type, End-User. Also, the major opportunities, trends, drivers and challenges of the industry has been analysed in the report.
• The report tracks competitive developments, strategies, key developments in the market and new product development. The companies analysed in the report include Kone, Otis, Schindler Group, Thyssenkrupp AG, Orona Group, Hitachi Group, EMR Elevator, Hisa Elevator, Fujitec, Mitsubishi Electric.
• The report presents the analysis of Elevator Service market for the historical period of 2015-2019 and the forecast period of 2020-2025.

Key Topics Covered

1. Report Scope and Methodology
1.1 Scope of the Report
1.2 Research Methodology
1.3 Executive Summary

2. Strategic Recommendations

3. Global Elevator Service Market: Sizing and Forecast
3.1 Market Size, By Value, Year 2015-2025
3.2 Market Size, By Growth Rate, Year 2015-2025
3.3 Impact of COVID-19 on Global Elevator Service Market

4. Global Elevator Service Market Segmentation By Service Type
4.1 Competitive Scenario of Global Elevator Service: By Service Type
4.2 Maintenance & Repair - Market Size and Forecast (2020-2025)
4.3 Modernization - Market Size and Forecast (2020-2025)

5. Global Elevator Service Market Segmentation By End-User
5.1 Competitive Scenario of Global Elevator Service: By End-User
5.2 Residential - Market Size and Forecast (2020-2025)
5.3 Commercial - Market Size and Forecast (2020-2025)

6. Global Elevator Service Market: Regional Analysis
6.1 Competitive Scenario of Global Elevator Service: By Region, By Value

7. North America Elevator Service Market: Segmentation By Service Type, End-User (2020-2025)
7.1 North America Elevator Service Market: Size and Forecast (2020-2025), By Value
7.2 North America Elevator Service Market - Prominent Companies
7.3 Market Segmentation By Service Type (Maintenance & Repair, Modernization)
7.4 Market Segmentation By End-User (Residential, Commercial)
7.5 North America Elevator Service Market: Country Analysis
7.6 Competitive Scenario of North America Elevator Service: By Country, By Value
7.7 Market Opportunity Chart of North America Elevator Service Market - By Country, By Value (Year-2025)
7.8 United States Elevator Service Market: Size and Forecast (2020-2025), By Value
7.9 United States Elevator Service Market: Prominent Players
7.10 United States Elevator Service Market Segmentation By Service Type, End-User
7.11 Canada Elevator Service Market: Size and Forecast (2020-2025), By Value
7.12 Canada Elevator Service Market: Prominent Players
7.13 Canada Elevator Service Market Segmentation By Service Type, End-User

8. Europe Elevator Service Market: Segmentation By Service Type, End-User (2020-2025)

9. Asia-Pacific Elevator Service Market: Segmentation By Service Type, End-User (2020-2025)

10. Global Elevator Service Market Dynamics
10.1 Global Elevator Service Market Drivers
10.2 Global Elevator Service Market Restraints
10.3 Global Elevator Service Market Trends

11. Market Attractiveness and Strategic Analysis
11.1 Market Attractiveness
11.1.1 Market Attractiveness Chart of Global Elevator Service Market - By Service Type, By Value
11.1.2 Market Attractiveness Chart of Global Elevator Service Market - By End-User, By Value
11.1.3 Market Attractiveness Chart of Global Elevator Service Market - By Region, By Value
11.2 Strategic Analysis
11.2.1 New Product Development
11.2.2 Joint Ventures and Non-Wholly Owned Subsidiaries
11.2.3 Key Developments in Elevator Service Market

12. Competitive Landscape

13. Company Analysis (Business Description, Financial Analysis, Business Strategy)
13.1 Kone
13.2 Otis
13.3 Schindler Group
13.4 Thyssenkrupp AG
13.5 Hitachi Group
13.6 Fujitec
13.7 Mitsubishi Electric
13.8 Orona Group
13.9 Hisa Elevator
13.10 EMR Elevator

For more information about this report visit https://www.researchandmarkets.com/r/d73uf7

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