"South Africa's elevator and escalator market has been experiencing steady growth due to urbanization, infrastructure development, and increased construction activities in the country. The demand for vertical transportation systems has been driven by the need to accommodate the growing population and the construction of commercial, residential, and mixed-use buildings. Key players in the South African elevator and escalator market include multinational companies such as Otis, Schindler, KONE, and Thyssenkrupp, as well as several local manufacturers and service providers. These companies offer a wide range of products and services, including elevators, escalators, moving walkways, and maintenance and modernization solutions. The market has witnessed a shift towards energy-efficient and eco-friendly solutions, with a focus on reducing energy consumption and carbon emissions. Technological advancements such as regenerative drives, destination control systems, and predictive maintenance have also been introduced to enhance efficiency, safety, and user experience. In terms of market segmentation, the elevator and escalator market in South Africa can be categorized based on product types, end-users, and regions. Product types include passenger elevators, freight elevators, home elevators, escalators, and moving walkways. The end-users encompass various sectors such as residential buildings, commercial complexes, hotels, hospitals, transportation hubs, and retail spaces. According to the report titled ""South Africa Elevator and Escalator market overview 2027"" published by Bonafide Research, the market size of South Africa Elevator and Escalator market is increasing enormously in the forecasted period from 2022 to 2027. South Africa is witnessing the integration of smart technologies in elevators and escalators. These include destination control systems, touchless controls, remote monitoring, and predictive maintenance, enhancing user experience, efficiency, and safety. The South African market places a strong emphasis on safety standards and compliance. Elevator and escalator installations must adhere to local regulations, building codes, and safety standards to ensure the well-being of users. The South African elevator and escalator market is supported by industry associations such as the Lift Engineering Association of South Africa (LEASA) and the South African Bureau of Standards (SABS). These organizations work towards promoting safety, standardization, and best practices within the industry. Major multinational companies such as Otis, Schindler, KONE, and Thyssenkrupp have a significant presence in the South African elevator and escalator market. These companies bring global expertise, technology, and product offerings to meet the country's vertical transportation needs. Elevators and escalators are utilized in various sectors in South Africa, including residential buildings, commercial complexes, hotels, hospitals, airports, train stations, and shopping malls. The diverse applications reflect the need for efficient vertical transportation across different industries. The COVID-19 pandemic has impacted the elevator and escalator market in South Africa, as construction projects were affected by restrictions and economic uncertainties. However, as the situation improves, the market is expected to recover gradually. In addition to multinational companies, South Africa also has local manufacturers and service providers in the elevator and escalator industry. These companies contribute to the market by offering products and services tailored to the local requirements and conditions.
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Elevator and escalator manufacturers are focused on enhancing aftermarket services for clients, which is projected to drive the growth of the South Africa elevator and escalator maintenance and repair market. During the projection period, the South Africa elevator and escalator maintenance and repair service market would benefit from the development of smart cities and technical developments in new elevators, such as the integration of circuit boards and new controllers. Elevator and escalator modernization can boost performance, making them more efficient and dependable. It also helps to reduce maintenance costs because all of the old parts are replaced with new, modern parts that will keep the elevator and escalator running well for a long time. One of the most essential reasons for elevator and escalator modernization is to improve safety to meet current requirements. The cost of elevator and escalator modernization will be worth it in the end since it will be able to strengthen the safety requirements. The elevator and escalator modernization market is expected to develop significantly during the forecast period, owing to an increase in elevator and escalator safety concerns in high-rise buildings and the introduction of new technologies into the South Africa industry. The Internet of Things (IoT) is a technology that has the potential to transform commercial real estate. COVID-19 impacts: The elevator and escalator business has been significantly damaged in recent years as a result of lockdowns implemented in South Africa due to the COVID-19 pandemic outbreak in December 2019. The COVID-19 epidemic has hindered the construction industry's expansion in recent years, generating delays that can be ascribed to various damaged supply chains. The elevator and escalator manufacturers, as well as the overall construction industry, are expected to face a number of challenges as most commercial projects are likely to be left incomplete or delayed due to supply chain disruptions, cash flow constraints, workforce unavailability, and production shutdowns. The demand for elevators and escalators is expected to rise in the coming years as various governments of South Africa prepare to gradually lift the lockdowns. As the lockdowns progressively cease, the construction sector is expected to increase. As commercial developments resume throughout the world, demand for elevators and escalators is expected to rise in the upcoming years. Considered in this report • Geography: South Africa • Historic Year: 2016 • Base year: 2021 • Estimated year: 2022 • Forecast year: 2027
Aspects covered in this report • South Africa Elevator & Escalator Market with its value and forecast along with its segments • Application wise tire industry distribution • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation Based on By Types: • Elevator • Escalators • Moving Walkways Based on By Services: • New installation • Maintenance and repair • Modernization
Based on by End use types: • Residential • Commercial • Others The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to elevator & 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. Please get in touch with our sales team to find out more. "