An elevator is also called an electric lift; it is used as vertical transportation of goods and people among the floors in buildings. It can be constructed with numerous elevator components or parts, which include an electric motor, speed controlling system, cabin, rails, shaft, doors, buffers, drive unit, and safety device. Mainly multistoried buildings have lifts to allow ease of travel and wheelchair access laws. Further, the increasing requirement for high-rise accommodation to deal with the rising population would likely drive the elevator market during the forecast period.
MARKET DYNAMICS
The growing construction and real estate industry and rapid urbanization are driving the growth of the elevator market. However, the substantial initial investment may restrain the growth of the elevator market. Furthermore, swift advancement in the building & construction industry in the APAC region is anticipated to witness massive demand during the forecast period.
MARKET SCOPE
The "Global Elevator Market Analysis to 2028" is a specialized and in-depth study of the elevator market with a special focus on the global market trend analysis. The report aims to provide an overview of elevator market with detailed market segmentation by type, application and geography. The global elevator market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading elevator market players and offers key trends and opportunities in the elevator market.
MARKET SEGMENTATION
The global elevator market is segmented on the basis of type and application. On the basis of type, the market is segmented as hydraulic elevator, traction elevator, machine-room-less (MRL) elevator, vacuum elevator. On the basis of application, the market is segmented as residential, commercial, and industrial.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global elevator market based on various segments. It also provides market size and forecast estimates from year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The elevator market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting elevator market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the elevator market in these regions.
MARKET PLAYERS
The reports cover key developments in the elevator market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from elevator market are anticipated to lucrative growth opportunities in the future with the rising demand for elevator market. Below mentioned is the list of few companies engaged in the elevator market.
The report also includes the profiles of key elevator market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- Escon Elevators Private Limited
- Express Lifts Limited
- FUJITEC CO., LTD
- Hitachi, Ltd.
- KONE Corporation
- Mitsubishi Electric Corporation
- Otis Elevator Company
- Schindler
- Thyssenkrupp Elevator Technology
- Toshiba Elevator and Building Systems Corporation
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.