Europe Elevator & Escalator Market Outlook, 2027

Europe Elevator & Escalator Market is segmented into countries like UK, Germany, Russia, France, Spain, and Italy Elevator & Escalator Market.

Featured Companies

  • 1. Fujitec Corporation Limited
  • 2. Hitachi Group
  • 3. Hyundai Elevator Corporation Limited
  • 4. Kleemann Hellas
  • 5. Kone Corporation
  • 6. Mitsubishi Electric Corporation
  • More...

Vertical transportation systems like elevators are becoming a standard component of modern buildings, given their ability to increase access to all areas of the structure across the European region. Efficient elevator systems are becoming critical for safer and more comfortable access to various floors of buildings, particularly due to the growth of ageing populations across Europe. In addition to that, the market growth is on account of the growing need for elevator modernization across Europe in ageing construction. The rapid ageing of the baby boomer population, the geriatric population, and consequently, the number of people with disabilities will continue to grow, thus amplifying the demand for advanced mobility solutions like elevators. In Europe, the administration has recommended the use of national measures to ensure that all levels of existing as well as under-construction buildings are accessible to people with disabilities, such as by providing at least one lift in each new building for wheelchair-bound individuals. The report titled "Europe Elevator & Escalator Market Outlook, 2027" by Bonafide Research discusses the market performance of the region, which in the year 2021 was valued at USD 19 Billion. Many countries in the European Union have witnessed the development of smart cities, while many are progressing towards one. The regions have increasingly developed smart solutions in energy, mobility, and governance. Such long-lasting high-end projects are expected to support the market to grow at a rate of less than 6% CAGR through the forecast period. One of the major driving forces behind the market's expansion is the burgeoning focus on the development of high-rise construction. Driven by rapid urbanization and a steady rise in the urban population across Europe, a significant increase has been observed in the construction of high-rise buildings and skyscrapers over the years.

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The second-largest market share in the global market for premises is likely to be held by the European region. This is because of the presence of well-established, technologically advanced infrastructure that requires more elevators and escalators for its further enhancement and hence creates more growth opportunities across the region. Moreover, there is increasing investment coupled with increased expenditure in the infrastructure sector that drives the market demand in this region. The Eastern European elevator and escalator market is expected to witness strong growth during the forecast period. The elevator and escalator market in the Eastern European region is witnessing continued growth on account of the sustained development of infrastructure and the construction sector. Additionally, Eastern Europe has shown consistent performance in terms of growth, with countries such as Hungary and Poland being the front runners in driving the overall growth of the European region. The region's market is led by Germany, which accounted for 17.88% of the total share in the year 2015. Three of the major countries, namely Germany, Russia, and the UK, make it into the top ten contributing countries globally. The region has witnessed a few major renovations and maintenance projects along with mergers and acquisitions among the top players. The major global companies hold a substantial share owing to the fragmented and grey nature of the industry, and the rest of the market players are original pieces of regional and other local-level manufacturers. Other companies have considerable share owing to their robust image, geographical reach, and strong customer base. The construction sector is among the largest economic sectors in Europe. Major projects are coming up in regions such as Poland, Bulgaria, and Hungary as the government plans to drive economic growth by categorically pushing investment in infrastructure as a strategic focus on infrastructure upgradation. Riding on the back of a growing economy and relative political stability, the overall economic outlook for the region remains positive. Furthermore, the Eastern Europe region is increasingly becoming a desirable destination for FDI and investment, resulting in a significant increase in business and commercial activity, with many multinational corporations relocating their headquarters there.Because of increased building demand in emerging nations such as Croatia, Georgia, Romania, and Ukraine, Europe accounted for the second-largest proportion of the elevator market. These countries are expected to see an increase in demand for new buildings and infrastructure. Elevator demand in this region would increase as a result of expanding urbanization, increased consumer spending, and government initiatives.

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Manmayi Raval

Manmayi Raval

Research Consultant

Thyssenkrupp AG has long been part of the European Elevator Market. The Zeta 200 is one of the latest incorporations in elevator technology. Wherever they are deployed, zeta200 preset configurations reliably offer the mix of high-rise, high-speed, high performance, and operational excellence on which TK Elevator’s reputation is built. The zeta200 is aimed towards high-rise commercial and mixed-use structures. The zeta200 is the easy way to assure a smooth, comfortable, and attractive high-speed experience by combining the newest technologies with established product combinations. The zeta200 delivers quiet interiors, smooth acceleration, and a solid ride at high speeds by merging cutting-edge technology and high-performance components. A Schindler electric elevator is part of the latest development perspective in the European market. The Personal Occupant Requirement Terminal, or PORT Technology, is a sophisticated software system that uses information to direct and transport individuals to their specific destinations swiftly and safely, connecting with them via a simple yet elegant gadget called the PORT. Schindler’s remarkable new PORT serves as your communication hub with building inhabitants. It may perform a variety of command and communication activities to give you and your building’s inhabitant’s ongoing service. The PORT terminal is as dependable as it is stylish, and it may be wall-mounted or fitted with a freestanding pedestal. Each PORT includes a motion sensor that detects when it needs to be active and places it in a low energy consumption mode the rest of the time. Major construction projects transform the lives of thousands of people—whether they are creating new homes, enabling better transport, or providing power to the surrounding area. As the construction industry heads back to work following the latest government advice, the elevator and escalator market is expected to expand owing to the biggest projects across the region. The leading manufacturers of moving walkways are currently implementing technologically advanced production processes to increase production efficacy and optimize product offerings.

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Manmayi Raval

In the overall region, the residential end-user segment accounted for the largest market share in Europe. Smart and innovative building solutions are taking the forefront in the regional market as the country looks to innovatively accommodate its population. The elevator and escalator market has been largely characterized by contracting growth in the construction sector owing to a high degree of political and economic instability due to Brexit in the UK. It is expected to proliferate the market's growth soon and bring in new horizons for the potential industrialists and investors in the market to witness promising future business growth in the coming years. The industrial and infrastructural end-users of the elevator and escalator are expected to contribute over a share of 25% by the end of the forecasted period. Growth would be aided primarily by government regulation mandating the use of elevators to cater to the needs of the ageing population. With the government mandating the use of cargo elevators to cater to medical emergencies, the cargo elevator segment is likely to witness a significant increase in its revenue share. Construction markets in developed nations such as Germany, the United Kingdom, and France are more mature. As a result, demand for new elevators would be restricted in these nations, but demand for maintenance, repair, and after-sales service would be considerable. Recent Developments: In the first quarter of 2021: Otis, the world’s leading company for elevator and escalator manufacturing, provides its vertical transportation system service for the 38-story office building of Alto Tower in France to be equipped with skyrise double-deck elevators. Orona Spanish based elevator and escalator company Orona is partnered with construction group projects company AVIT-A to supply its elevators, for the industrialization of construction. Thyssenkrupp Elevator Thyssenkrupp Elevator provides engineering, construction, and service of next generation mobility solutions such as escalators and elevators. It has changed its name from Thyssenkrupp Elevator to TK Elevators under the new global brand TKE. Thyssenkrupp Elevator Thyssenkrupp Elevator's MULTI is the world’s first rope-free elevator system. DigiPara’s automatic building information modelling (BIM) programme provides 3D models and system drawings in MULTI installations at the earliest stage of the building design phase. The Cibes Lift Group is a Swedish company acquired by the UK-based company Titan Elevators, located in Sidcup, to expand its business in the UK regions. In the Third Quarter of 2021: Kone Corporation is expected to supply 15 new escalators and elevators to the Arbor office building of Bankside Yards Company in London. The Finnish-based escalator and elevator giant Kone Corporation recorded positive growth in the second quarter of EUR 2.8 billion, which rose 11% from the same period last year when revenue was EUR 2.5 billion. The Italian elevator designer and escalator maintenance company, Maspero Elevatori, got a contract of EUR 2.8 million for the renovation of elevators in the Palais des Nations in Geneva, Switzerland, and the project will be completed by the first quarter of 2023. Schindler Holdings' elevator and escalator businesses recorded a 5% decrease in global net revenue due to pandemics in 2020. The revenue is not affected very much due to smaller buildings seeing an increased number of elevators and escalators being installed. In the Fourth Quarter of 2021: FutureSun is a PV panel manufacturer from Italy, installed a solar powered elevator with a storage system which can store energy generated while itself moving through gravitational storage under a pilot project at Cuneo, Italy. The project is also funded by the Store4HUC program for the improvement of renewable energy solutions to reduce carbon emissions by the European Regional Development Fund. Covid-19 Impacts: Several industries across the European region suffered significant setbacks due to the onset of the novel corona-virus pandemic in early 2020, including the elevator industry, which took a hit due to the massive disruptions to construction activity in the region. According to a report from Kone, in the 10 topmost European cities in Europe, average elevators journeys decreased by almost 80% between February to April 2020. However, the Europe elevator market could witness a potential recovery in the coming years, as the use of office elevators rises gradually in major cities like Milan, Paris, Stockholm, Brussels, Helsinki, Munich, and Berlin, among others, despite a slight decline in return to office buildings in October 2021. Major Companies Present In the Market Fujitec Corporation Limited, Hitachi Group, Hyundai Elevator Corporation Limited, Kleemann Hellas, Kone Corporation, Mitsubishi Electric Corporation, Otis Worldwide Corporation, Schindler Group, Sigma Elevator Company, Stannah Lifts Holdings Limited, Thyssenkrupp AG, Toshiba Elevator And Building System Corporation Considered In the Report • Geography: Europe • Historical year: 2016 • Base year: 2021 • Estimated year: 2022 • Forecasted year: 2027 Countries covered: • Germany • UK • France • Spain • Italy • Russia Aspects Covered In the Report • Market Size By Value for the historic time period (2016-2021) • Market Size By Value for the forecast time period (2022-2027) • Market Share by Type (Elevator, Escalator & Moving Walkways) • Market Share by Service (New Installation, Maintenance & Repair, Modernization ) • Market Share by End Users (Residential, Commercial & Others) • Market Share by Country The approach of the report: We keep an eye on evolving markets and try to evaluate the potential of the products and services. If we find the market interesting, we start working on it and create the desired table of content, considering all aspects of the business. We start by creating separate questionnaires for C-level executives, national/regional sales personnel, company owners, dealers, distributors, and end-users. Once the questionnaires have been finalized, we start collecting the primary data (mostly through phone calls) and try to understand the market dynamics regionally or tier-wise. This process gives us in-depth details of the market, including all present companies, the top-performing products with reasons why they dominate; we get the details of new players and their innovative approaches; market trends; dynamics; and all the small details of the market. After the collection of primary inputs, we then cross-check the same with secondary sources that include associations, trade journals, annual reports, paid databases, newspapers, magazines, press releases, government sources, etc. From this, we get a rough estimate of the market and start checking existing product price variants, trade, production, raw material scenarios, policies and regulatory landscape, etc. Then, to finalize the market, we start collecting financials of each player present in the market, including limited, private limited, and LLPs. Moreover, we perform cross-industry and cross-region analysis of the product, and based on collected primary inputs and using statistical modeling, we start forecasting the market. We follow our forecasting algorithm, which is unique for each product but gives more weight age to primary inputs. At the same time, the content team starts preparing company profiles, market dynamics, market trends, five forces, PEST analysis, etc. Once the data is verified by the data expert, the team (primary team, content team, and data team) together crosscheck the segmentations, validate the market, and then the designing team starts plotting the graphs. Once the file is ready, the content team completes the report and makes sure that all the discussed points have been covered and provides their valuable inputs in the form of strategic recommendations for new as well as existing players. The QC team then checks the overall report that includes spell check, data verification, and makes the same dispatch ready and error-free. Intended Audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the elevator and escalator industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

Companies Mentioned

  • Fujitec Corporation Limited
  • Hitachi Group
  • Hyundai Elevator Corporation Limited
  • Kleemann Hellas
  • Kone Corporation
  • Mitsubishi Electric Corporation
  • Otis Worldwide Corporation
  • Schindler Group
  • Sigma Elevator Company
  • Stannah Lifts Holdings Limited
  • Thyssenkrupp Ag
  • Toshiba Elevator And Building System Corporation

Table of Contents

  • Table of Content
  • 1. Executive Summary
  • 2. Report Methodology
  • 3. Market Structure
  • 3.1. Market Considerate
  • 3.2. Market Definition
  • 4. Economic /Demographic Snapshot
  • 5. Global Elevator and Escalator Market Outlook
  • 5.1. Market Size by Value
  • 5.2. Market Share
  • 5.2.1. By Region
  • 5.2.2. By Country
  • 5.2.3. By Company
  • 5.2.4. By Type
  • 5.2.5. By Service
  • 5.2.6. By End User
  • 6. Europe Elevator and Escalator Market Outlook
  • 6.1. Market Size by Value
  • 6.2. Market Share
  • 6.2.1. By Country
  • 6.2.2. By Type
  • 6.2.3. By Service
  • 6.2.4. By End User
  • 6.3. Germany Elevator and Escalator Market Outlook
  • 6.3.1. Market Size by Value
  • 6.3.2. Market Share
  • 6.3.2.1. By Type
  • 6.3.2.2. By Service
  • 6.3.2.3. By End User
  • 6.4. UK Elevator and Escalator Market Outlook
  • 6.4.1. Market Size by Value
  • 6.4.2. Market Share
  • 6.4.2.1. By Type
  • 6.4.2.2. By Service
  • 6.4.2.3. By End User
  • 6.5. France Elevator and Escalator Market Outlook
  • 6.5.1. Market Size by Value
  • 6.5.2. Market Share
  • 6.5.2.1. By Type
  • 6.5.2.2. By Service
  • 6.5.2.3. By End User
  • 6.6. Spain Elevator and Escalator Market Outlook
  • 6.6.1. Market Size by Value
  • 6.6.2. Market Share
  • 6.6.2.1. By Type
  • 6.6.2.2. By Service
  • 6.6.2.3. By End User
  • 6.7. Italy Elevator and Escalator Market Outlook
  • 6.7.1. Market Size by Value
  • 6.7.2. Market Share
  • 6.7.2.1. By Type
  • 6.7.2.2. By Service
  • 6.7.2.3. By End User
  • 6.8. Russia Elevator and Escalator Market Outlook
  • 6.8.1. Market Size by Value
  • 6.8.2. Market Share
  • 6.8.2.1. By Type
  • 6.8.2.2. By Service
  • 6.8.2.3. By End User
  • 7. Market Dynamics
  • 7.1. Market Drivers
  • 7.2. Market Challenges
  • 8. Market Trends and Developments
  • 8.1. XXXXXX
  • 8.2. XXXXXX
  • 8.3. XXXXXX
  • 9. Company Profiles
  • 9.1. Fujitec Corporation Limited
  • 9.2. Hitachi Group
  • 9.3. Hyundai Elevator Corporation Limited
  • 9.4. Kleemann Hellas
  • 9.5. Kone Corporation
  • 9.6. Mitsubishi Electric Corporation
  • 9.7. Otis Worldwide Corporation
  • 9.8. Schindler Group
  • 9.9. Sigma Elevator Company
  • 9.10. Stannah Lifts Holdings Limited
  • 9.11. ThyssenKrupp AG
  • 9.12. Toshiba Elevator and Building System Corporation
  • 10. Strategic Recommendations
  • 11. Disclaimer

List of Table
Table 1: Top 10 Counties Economic Snapshot 2020
Table 2: Economic Snapshot of Other Prominent Countries 2020
Table 3: Average Exchange Rates for Converting Foreign Currencies into U.S. Dollars
Table 4: Global Elevator and Escalator Market Share By Region (2016, 2021&2027F)
Table 5: Global Elevator and Escalator Market Share by Country (2016, 2021 & 2027F)
Table 6: Global Elevator and Escalator Market Share By Company (2021)
Table 7: Global Elevator and Escalator Market Share By Service (2016, 2021 & 2027F)
Table 8: Global Elevator and Escalator Market Share By End User (2016, 2021 & 2027F)
Table 9: Europe Elevator and Escalator Market Share by Country (2016, 2021 & 2027F)
Table 10: Europe Elevator and Escalator Market Share By Service (2016, 2021 & 2027F)
Table 11: Europe Elevator and Escalator Market Share By End User (2016, 2021 & 2027F)
Table 12: Germany Elevator and Escalator Market Share By Service (2016, 2021 & 2027F)
Table 13: Germany Elevator and Escalator Market Share By End User (2016, 2021 & 2027F)
Table 14: UK Elevator and Escalator Market Share By Service (2016, 2021 & 2027F)
Table 15: UK Elevator and Escalator Market Share By End User (2016, 2021 & 2027F)
Table 16: France Elevator and Escalator Market Share By Service (2016, 2021 & 2027F)
Table 17: France Elevator and Escalator Market Share By End User (2016, 2021 & 2027F)
Table 18: Spain Elevator and Escalator Market Share By Service (2016, 2021 & 2027F)
Table 19: Spain Elevator and Escalator Market Share By End User (2016, 2021 & 2027F)
Table 20: Italy Elevator and Escalator Market Share By Service (2016, 2021 & 2027F)
Table 21: Italy Elevator and Escalator Market Share By End User (2016, 2021 & 2027F)
Table 22: Russia Elevator and Escalator Market Share By Service (2016, 2021 & 2027F)
Table 23: Russia Elevator and Escalator Market Share By End User (2016, 2021 & 2027F)
Table 24: Key Facts of Fujitec Corporation Limited
Table 25: Key Facts of Hitachi Group
Table 26: Key Facts of Hyundai Elevator Corporation Limited
Table 27: Key Facts of Kleemann Hellas
Table 28: Key Facts of Kone Corporation
Table 29: Key Facts of Mitsubishi Electric Corporation
Table 30: Key Facts of Otis Worldwide Corporation
Table 31: Key Facts of Schindler Group
Table 32: Key Facts of Sigma Elevator Company
Table 33: Key Facts of Stannah Lifts Holdings Limited
Table 34: Key Facts of ThyssenKrupp AG
Table 35: Key Facts of Toshiba Elevator and Building System Corporation

List of Figures
Figure 1: Global Elevator and Escalator Market Size – By Value 2016 to 2027F (In USD Billion)
Figure 2: Global Elevator and Escalator Market Share – By Type (2016, 2021 & 2027F)
Figure 3: Europe Elevator and Escalator Market Size – By Value 2016 to 2027F (In USD Billion)
Figure 4: Europe Elevator and Escalator Market Share – By Type (2016, 2021 & 2027F)
Figure 5: Germany Elevator and Escalator Market Size – By Value 2016 to 2027F (In USD Billion)
Figure 6: Germany Elevator and Escalator Market Share – By Type (2016, 2021 & 2027F)
Figure 7: UK Elevator and Escalator Market Size – By Value 2016 to 2027F (In USD Billion)
Figure 8: UK Elevator and Escalator Market Share – By Type (2016, 2021 & 2027F)
Figure 9: France Elevator and Escalator Market Size – By Value 2016 to 2027F (In USD Billion)
Figure 10: France Elevator and Escalator Market Share – By Type (2016, 2021 & 2027F)
Figure 11: Spain Elevator and Escalator Market Size – By Value 2016 to 2027F (In USD Billion)
Figure 12: Spain Elevator and Escalator Market Share – By Type (2016, 2021 & 2027F)
Figure 13: Italy Elevator and Escalator Market Size – By Value 2016 to 2027F (In USD Billion)
Figure 14: Italy Elevator and Escalator Market Share – By Type (2016, 2021 & 2027F)
Figure 15: Russia Elevator and Escalator Market Size – By Value 2016 to 2027F (In USD Billion)
Figure 16: Russia Elevator and Escalator Market Share – By Type (2016, 2021 & 2027F)

Feed Phosphate Market Research FAQs

Prominent players in the market include Orona S.C., Glarie Elevator Co. Ltd., Hyundai Elevator Co. Ltd., Hitachi, Ltd., Otis Elevator Company, Schindler, Kone Corporation, Fujitec Co. Ltd., and Mitsubishi Electric Corporation, among others.

On the basis of type, the elevator segment and on the basis of end-user, the residential segment holds majority shares in the Europe elevators and escalators market.

Rapid urbanization & industrialization across the world and the burgeoning construction sector are major tailwinds pushing the growth of the Europe elevators and escalators market.

Germany holds the largest share in the Europe elevators and escalators market.

Europe elevators and escalators market is anticipated to grow below 6% CAGR for 2022-2027.
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Europe Elevator & Escalator Market Outlook, 2027

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