The demand for escalators and elevators is increasing with the development of smart cities in emerging economies. Expanding commercial and residential projects are further contributing to the market growth. Escalators and lifts ease the movement of people and goods in buildings as well as industries. Therefore, increasing industrialization in emerging economies offers lucrative growth opportunities for market growth. In developed countries, high growth in demand is attributed to technological advancements coupled with growing renovation activities.
MARKET DYNAMICS
The elevators and escalators market is anticipated to witness symbolic growth on account of rapid urbanization and modernization in the living standards. Improvement in the construction sector is yet another factor propelling market growth. However, high maintenance costs may negatively influence the growth of the elevators and escalators market during the forecast period. On the other hand, innovative technologies and the adoption of green building codes would create lucrative opportunities for the elevators and escalators market in the future.
MARKET SCOPE
The "Global Elevators and Escalators Market Analysis to 2028" is a specialized and in-depth study of the manufacturing and construction industry with a special focus on the global market trend analysis. The report aims to provide an overview of elevators and escalators market with detailed market segmentation by type, end user, and geography. The global elevators and escalators market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading elevators and escalators market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global elevators and escalators market is segmented on the basis of type and end user. Based on type, the market is segmented as elevators, escalators, and moving walkways. The market on the basis of the end user is classified as commercial and residential.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global elevators and escalators market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The elevators and escalators market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting elevators and escalators market from both demand and supply side and further evaluates market dynamics affecting 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 & Central America after evaluating political, economic, social and technological factors affecting the elevators and escalators market in these regions.
MARKET PLAYERS
The reports cover key developments in the elevators and escalators 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 the way for the expansion of business and customer base of market players. The market players from elevators and escalators market are anticipated to lucrative growth opportunities in the future with the rising demand for elevators and escalators in the global market. Below mentioned is the list of few companies engaged in the elevators and escalators market.
The report also includes the profiles of key elevators and escalators 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 the last three years, key developments in the past five years.
- Electra Ltd
- Fujitec Co., Ltd.
- Hitachi, Ltd.
- Hyundai Elevator Co Ltd
- Kone Oyj
- Mitsubishi Electric Corporation
- Otis Elevator Company (United Technologies Corporation)
- Schindler Holding Ltd.
- ThyssenKrupp AG
- Toshiba Corp
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.