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List of Figures:
Figure 1. Research Method Flow Chart
Figure 2. Bottom-up Approach and Top-down Approach for Market Estimation
Figure 3. Global Market Forecast in Optimistic, Conservative and Balanced Perspectives, 2020-2027
Figure 4. Global Elevator Equipment & Service Market, 2017-2027, $ bn
Figure 5. Impact of COVID-19 on Business
Figure 6. Primary Drivers and Impact Factors of Global Elevator Equipment & Service Market
Figure 7. GDP per capita in the World, 1960-2018, $ thousand
Figure 8. Forecast of Middle-class Population by Region, 2015-2030, million
Figure 9. Worldwide Geriatric Population (60 years and above) by Regions, 2015 & 2030, million
Figure 10. World Population 65 and Over, % of Total Population, 1950-2060
Figure 11. Primary Restraints and Impact Factors of Global Elevator Equipment & Service Market
Figure 12. Investment Opportunity Analysis
Figure 13. Porter’s Fiver Forces Analysis of Global Elevator Equipment & Service Market
Figure 14. Breakdown of Global Elevator Equipment & Service Market by Offering, 2020-2027, % of Revenue
Figure 15. Contribution to Global 2021-2027 Cumulative Revenue by Offering, Value ($ bn) and Share (%)
Figure 16. Global Elevator Equipment & Service Market: Elevator Equipment, 2017-2027, $ bn
Figure 17. Global Elevator Equipment & Service Market: Passenger & Freight Elevators, 2017-2027, $ bn
Figure 18. Global Elevator Equipment & Service Market: Escalators & Moving Walkways, 2017-2027, $ bn
Figure 19. Global Elevator Equipment & Service Market: Parts & Accessories, 2017-2027, $ bn
Figure 20. Global Elevator Equipment & Service Market: Elevator Service, 2017-2027, $ bn
Figure 21. Global Elevator Equipment & Service Market: Installation Service, 2017-2027, $ bn
Figure 22. Global Elevator Equipment & Service Market: Maintenance & Repair Service, 2017-2027, $ bn
Figure 23. Global Elevator Equipment & Service Market: Modernization & Upgrade Service, 2017-2027, $ bn
Figure 24. Breakdown of Global Elevator Equipment & Service Market by Product Type, 2020-2027, % of Revenue
Figure 25. Contribution to Global 2021-2027 Cumulative Revenue by Product Type, Value ($ bn) and Share (%)
Figure 26. Global Elevator Equipment & Service Market: Elevators, 2017-2027, $ bn
Figure 27. Global Elevator Equipment & Service Market: Escalators, 2017-2027, $ bn
Figure 28. Global Elevator Equipment & Service Market: Moving Walkways, 2017-2027, $ bn
Figure 29. Breakdown of Global Elevator Equipment & Service Market by Technology, 2020-2027, % of Revenue
Figure 30. Contribution to Global 2021-2027 Cumulative Revenue by Technology, Value ($ bn) and Share (%)
Figure 31. Global Elevator Equipment & Service Market: Hydraulic Elevators, 2017-2027, $ bn
Figure 32. Global Elevator Equipment & Service Market: Conventional Hydraulic Elevators, 2017-2027, $ bn
Figure 33. Global Elevator Equipment & Service Market: Hole-less Hydraulic Elevators, 2017-2027, $ bn
Figure 34. Global Elevator Equipment & Service Market: Roped Hydraulic Elevators, 2017-2027, $ bn
Figure 35. Global Elevator Equipment & Service Market: Traction Elevators, 2017-2027, $ bn
Figure 36. Global Elevator Equipment & Service Market: Geared Traction Elevators, 2017-2027, $ bn
Figure 37. Global Elevator Equipment & Service Market: Gear-less Traction Elevators, 2017-2027, $ bn
Figure 38. Global Elevator Equipment & Service Market: Machine Room-Less Elevators, 2017-2027, $ bn
Figure 39. Global Elevator Equipment & Service Market: Climbing Elevators, 2017-2027, $ bn
Figure 40. Global Elevator Equipment & Service Market: Pneumatic/Vacuum Elevators, 2017-2027, $ bn
Figure 41. Breakdown of Global Elevator Equipment & Service Market by End Use, 2020-2027, % of Revenue
Figure 42. Contribution to Global 2021-2027 Cumulative Revenue by End Use, Value ($ bn) and Share (%)
Figure 43. Global Elevator Equipment & Service Market: Residential Use, 2017-2027, $ bn
Figure 44. Global Elevator Equipment & Service Market: Commercial Use, 2017-2027, $ bn
Figure 45. Global Elevator Equipment & Service Market: Industrial Use, 2017-2027, $ bn
Figure 46. Global Elevator Equipment & Service Market: Other End Uses, 2017-2027, $ bn
Figure 47. Global Market Snapshot by Region
Figure 48. Geographic Spread of Worldwide Elevator Equipment & Service Market, 2020-2027, % of Revenue
Figure 49. Contribution to Global 2021-2027 Cumulative Revenue by Region, Value ($ bn) and Share (%)
Figure 50. North American Elevator Equipment & Service Market, 2017-2027, $ bn
Figure 51. Breakdown of North America Elevator Equipment & Service Market by Country, 2020 and 2027, % of Revenue
Figure 52. Contribution to North America 2021-2027 Cumulative Revenue by Country, Value ($ bn) and Share (%)
Figure 53. U.S. Elevator Equipment & Service Market, 2017-2027, $ bn
Figure 54. Canada Elevator Equipment & Service Market, 2017-2027, $ bn
Figure 55. Elevator Equipment & Service Market in Mexico, 2017-2027, $ bn
Figure 56. European Elevator Equipment & Service Market, 2017-2027, $ bn
Figure 57. Breakdown of European Elevator Equipment & Service Market by Country, 2020 and 2027, % of Revenue
Figure 58. Contribution to Europe 2021-2027 Cumulative Revenue by Country, Value ($ bn) and Share (%)
Figure 59. Elevator Equipment & Service Market in UK, 2017-2027, $ bn
Figure 60. Elevator Equipment & Service Market in France, 2017-2027, $ bn
Figure 61. Elevator Equipment & Service Market in Germany, 2017-2027, $ bn
Figure 62. Elevator Equipment & Service Market in Spain, 2017-2027, $ bn
Figure 63. Elevator Equipment & Service Market in Italy, 2017-2027, $ bn
Figure 64. Elevator Equipment & Service Market in Russia, 2017-2027, $ bn
Figure 65. Elevator Equipment & Service Market in Rest of Europe, 2017-2027, $ bn
Figure 66. Asia-Pacific Elevator Equipment & Service Market, 2017-2027, $ bn
Figure 67. Breakdown of APAC Elevator Equipment & Service Market by Country, 2020 and 2027, % of Revenue
Figure 68. Contribution to APAC 2021-2027 Cumulative Revenue by Country, Value ($ bn) and Share (%)
Figure 69. Elevator Equipment & Service Market in China, 2017-2027, $ bn
Figure 70. Elevator Equipment & Service Market in Japan, 2017-2027, $ bn
Figure 71. Elevator Equipment & Service Market in India, 2017-2027, $ bn
Figure 72. Elevator Equipment & Service Market in Australia, 2017-2027, $ bn
Figure 73. Elevator Equipment & Service Market in South Korea, 2017-2027, $ bn
Figure 74. Elevator Equipment & Service Market in Rest of APAC, 2017-2027, $ bn
Figure 75. South America Elevator Equipment & Service Market, 2017-2027, $ bn
Figure 76. Breakdown of South America Elevator Equipment & Service Market by Country, 2020 and 2027, % of Revenue
Figure 77. Contribution to South America 2021-2027 Cumulative Revenue by Country, Value ($ bn) and Share (%)
Figure 78. Elevator Equipment & Service Market in Argentina, 2017-2027, $ bn
Figure 79. Elevator Equipment & Service Market in Brazil, 2017-2027, $ bn
Figure 80. Elevator Equipment & Service Market in Chile, 2017-2027, $ bn
Figure 81. Elevator Equipment & Service Market in Rest of South America, 2017-2027, $ bn
Figure 82. Elevator Equipment & Service Market in Middle East and Africa (MEA), 2017-2027, $ bn
Figure 83. Breakdown of MEA Elevator Equipment & Service Market by Country, 2020 and 2027, % of Revenue
Figure 84. Contribution to MEA 2021-2027 Cumulative Revenue by Country, Value ($ bn) and Share (%)
Figure 85. Elevator Equipment & Service Market in UAE, 2017-2027, $ bn
Figure 86. Elevator Equipment & Service Market in Saudi Arabia, 2017-2027, $ bn
Figure 87. Elevator Equipment & Service Market in South Africa, 2017-2027, $ bn
Figure 88. Growth Stage of Global Elevator Equipment & Service Industry over the Forecast Period
List of Tables:
Table 1. Snapshot of Global Elevator Equipment & Service Market in Balanced Perspective, 2020-2027
Table 2. Growth Rate of World GDP, 2020-2022
Table 3. World Construction Industry Output, 2017-2030, $ trillion
Table 4. Main Product Trends and Market Opportunities in Global Elevator Equipment & Service Market
Table 5. Global Elevator Equipment & Service Market by Offering, 2017-2027, $ bn
Table 6. Global Elevator Equipment & Service Market: Elevator Equipment by Type, 2017-2027, $ bn
Table 7. Global Elevator Equipment & Service Market: Elevator Service by Type, 2017-2027, $ bn
Table 8. Global Elevator Equipment & Service Market by Product Type, 2017-2027, $ bn
Table 9. Global Elevator Equipment & Service Market by Technology, 2017-2027, $ bn
Table 10. Global Elevator Equipment & Service Market: Hydraulic Elevators by Type, 2017-2027, $ bn
Table 11. Global Elevator Equipment & Service Market: Traction Elevators by Type, 2017-2027, $ bn
Table 12. Global Elevator Equipment & Service Market by End Use, 2017-2027, $ bn
Table 13. Global Elevator Equipment & Service Market by Region, 2017-2027, $ bn
Table 14. Leading National Elevator Equipment & Service Market, 2020 and 2027, $ bn
Table 15. North America Elevator Equipment & Service Market by Country, 2017-2027, $ bn
Table 16. U.S. Elevator Equipment & Service Market by Offering, 2017-2027, $ bn
Table 17. U.S. Elevator Equipment & Service Market by Product Type, 2017-2027, $ bn
Table 18. U.S. Elevator Equipment & Service Market by End Use, 2017-2027, $ bn
Table 19. Canada Elevator Equipment & Service Market by Offering, 2017-2027, $ bn
Table 20. Canada Elevator Equipment & Service Market by Product Type, 2017-2027, $ bn
Table 21. Canada Elevator Equipment & Service Market by End Use, 2017-2027, $ bn
Table 22. Mexico Elevator Equipment & Service Market by Offering, 2017-2027, $ bn
Table 23. Mexico Elevator Equipment & Service Market by Product Type, 2017-2027, $ bn
Table 24. Mexico Elevator Equipment & Service Market by End Use, 2017-2027, $ bn
Table 25. Europe Elevator Equipment & Service Market by Country, 2017-2027, $ bn
Table 26. UK Elevator Equipment & Service Market by Offering, 2017-2027, $ bn
Table 27. UK Elevator Equipment & Service Market by Product Type, 2017-2027, $ bn
Table 28. UK Elevator Equipment & Service Market by End Use, 2017-2027, $ bn
Table 29. France Elevator Equipment & Service Market by Offering, 2017-2027, $ bn
Table 30. France Elevator Equipment & Service Market by Product Type, 2017-2027, $ bn
Table 31. France Elevator Equipment & Service Market by End Use, 2017-2027, $ bn
Table 32. Germany Elevator Equipment & Service Market by Offering, 2017-2027, $ bn
Table 33. Germany Elevator Equipment & Service Market by Product Type, 2017-2027, $ bn
Table 34. Germany Elevator Equipment & Service Market by End Use, 2017-2027, $ bn
Table 35. Spain Elevator Equipment & Service Market by Offering, 2017-2027, $ bn
Table 36. Spain Elevator Equipment & Service Market by Product Type, 2017-2027, $ bn
Table 37. Spain Elevator Equipment & Service Market by End Use, 2017-2027, $ bn
Table 38. Italy Elevator Equipment & Service Market by Offering, 2017-2027, $ bn
Table 39. Italy Elevator Equipment & Service Market by Product Type, 2017-2027, $ bn
Table 40. Italy Elevator Equipment & Service Market by End Use, 2017-2027, $ bn
Table 41. Russia Elevator Equipment & Service Market by Offering, 2017-2027, $ bn
Table 42. Russia Elevator Equipment & Service Market by Product Type, 2017-2027, $ bn
Table 43. Russia Elevator Equipment & Service Market by End Use, 2017-2027, $ bn
Table 44. Elevator Equipment & Service Market in Rest of Europe by Country, 2017-2027, $ bn
Table 45. APAC Elevator Equipment & Service Market by Country, 2017-2027, $ bn
Table 46. China Elevator Equipment & Service Market by Offering, 2017-2027, $ bn
Table 47. China Elevator Equipment & Service Market by Product Type, 2017-2027, $ bn
Table 48. China Elevator Equipment & Service Market by End Use, 2017-2027, $ bn
Table 49. Japan Elevator Equipment & Service Market by Offering, 2017-2027, $ bn
Table 50. Japan Elevator Equipment & Service Market by Product Type, 2017-2027, $ bn
Table 51. Japan Elevator Equipment & Service Market by End Use, 2017-2027, $ bn
Table 52. India Elevator Equipment & Service Market by Offering, 2017-2027, $ bn
Table 53. India Elevator Equipment & Service Market by Product Type, 2017-2027, $ bn
Table 54. India Elevator Equipment & Service Market by End Use, 2017-2027, $ bn
Table 55. Australia Elevator Equipment & Service Market by Offering, 2017-2027, $ bn
Table 56. Australia Elevator Equipment & Service Market by Product Type, 2017-2027, $ bn
Table 57. Australia Elevator Equipment & Service Market by End Use, 2017-2027, $ bn
Table 58. South Korea Elevator Equipment & Service Market by Offering, 2017-2027, $ bn
Table 59. South Korea Elevator Equipment & Service Market by Product Type, 2017-2027, $ bn
Table 60. South Korea Elevator Equipment & Service Market by End Use, 2017-2027, $ bn
Table 61. Elevator Equipment & Service Market in Rest of APAC by Country/Region, 2017-2027, $ bn
Table 62. South America Elevator Equipment & Service Market by Country, 2017-2027, $ bn
Table 63. Argentina Elevator Equipment & Service Market by Offering, 2017-2027, $ bn
Table 64. Argentina Elevator Equipment & Service Market by Product Type, 2017-2027, $ bn
Table 65. Argentina Elevator Equipment & Service Market by End Use, 2017-2027, $ bn
Table 66. Brazil Elevator Equipment & Service Market by Offering, 2017-2027, $ bn
Table 67. Brazil Elevator Equipment & Service Market by Product Type, 2017-2027, $ bn
Table 68. Brazil Elevator Equipment & Service Market by End Use, 2017-2027, $ bn
Table 69. Chile Elevator Equipment & Service Market by Offering, 2017-2027, $ bn
Table 70. Chile Elevator Equipment & Service Market by Product Type, 2017-2027, $ bn
Table 71. Chile Elevator Equipment & Service Market by End Use, 2017-2027, $ bn
Table 72. MEA Elevator Equipment & Service Market by Country, 2017-2027, $ bn
Table 73. UAE Elevator Equipment & Service Market by Offering, 2017-2027, $ bn
Table 74. UAE Elevator Equipment & Service Market by Product Type, 2017-2027, $ bn
Table 75. UAE Elevator Equipment & Service Market by End Use, 2017-2027, $ bn
Table 76. Saudi Arabia Elevator Equipment & Service Market by Offering, 2017-2027, $ bn
Table 77. Saudi Arabia Elevator Equipment & Service Market by Product Type, 2017-2027, $ bn
Table 78. Saudi Arabia Elevator Equipment & Service Market by End Use, 2017-2027, $ bn
Table 79. South Africa Elevator Equipment & Service Market by Offering, 2017-2027, $ bn
Table 80. South Africa Elevator Equipment & Service Market by Product Type, 2017-2027, $ bn
Table 81. South Africa Elevator Equipment & Service Market by End Use, 2017-2027, $ bn
Table 82. Breakdown of World Elevator Equipment & Service Market by Key Vendor, 2020, %
Table 83. Fujitec Corporation Limited: Company Snapshot
Table 84. Fujitec Corporation Limited: Business Segmentation
Table 85. Fujitec Corporation Limited: Product Portfolio
Table 86. Fujitec Corporation Limited: Revenue, 2018-2020, $ bn
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Global elevator equipment & service market will reach $154.0 billion by 2027, growing by 5.6% annually over 2020-2027 owing to the rising urbanization, upswing in digitalization, increasing geriatric population, growing construction and maintenance/upgrade activities. It is anticipated that the market will expand as a result of developing economies' increased infrastructure spending. Additionally, the UNCTAD Trade and Development report covers over 40 developing nations with a focus on infrastructure initiatives. As a result, the market is anticipated to be driven by the growing government initiatives from various emerging nations to drive their economies, which are likely to result in the development of bridges, dams, and urban infrastructure growth such as roads, schools, ports, and airports. In the next five years, India, for instance, expects to invest USD 1.4 trillion in infrastructure. Additionally, the growth of smart cities is anticipated to propel the market. For instance, according to the Policy Forum, China invested around USD 30.4 billion in smart cities in 2018 and is projected to invest more than USD 59.9 billion by 2023. Additionally, the market is expanding as a result of the strong demand for high-speed elevators brought on by the expansion of skyscraper building. For instance, the 644-meter-tall Merdeka PNB 118 skyscraper that is being built in Malaysia. The highest structure in Southeast Asia is anticipated to be this tower. The established manufacturers are focusing on building sustainable products to attract environmentally conscious consumers. Green elevators have LED lights, recycled materials, and water-soluble paints. Furthermore, market vendors are focusing on using alternatives to rope and pulley systems, such as magnetic motors, which are gaining popularity among customers. Moreover, the recognition of such green products is attracting investments from the manufacturers. For instance, in 2018, the KONE solutions, including TransitMaster 140 escalator, KONE S MonoSpace, and KONE 3000 TranSys elevators, received Singapore green building product certificates with high ratings.
Elevators represent 2% to 7% of the total energy consumed in the whole building and have a significant scope of improvement regarding energy consumption. Thus, manufacturers are focusing on the development of energy efficient elevators. These elevators use less energy with the help of improved hardware controls and offer improved compactness. In addition, the surge in government initiatives to save energy is further expected to promote growth in the sales of energy-efficient products. For instance, the Swiss government announced the refurbishment of old elevators to result in energy efficiency in 2019, with Schindler Switzerland as its technology partner. Thus, it is likely to result in a high demand for proficient electricity elevators. The industry is anticipated to be affected by the growing worries about elevator and escalator accidents. Every year in the United States, accidents involving elevators and escalators result in more than 30 fatalities and 17,000 serious injuries, according to the Consumer Product Safety Commission and the U.S. Bureau of Labor Statistics. 60% of major injuries and 90% of deaths are attributed to elevator accidents. There are a lot of incidents where maintenance and repair workers are caught between the moving parts of escalators and elevators. However, it is anticipated that the incidents during repair and maintenance activities would decrease as workplace safety and security measures and training become more stringent. The industry is anticipated to be affected by the growing worries about elevator and escalator accidents. This problem can be dealt with, by introducing better technology and safety systems.
COVID-19 impact
The COVID-19 pandemic created an unprecedented and difficult health emergency across the globe. As a safety measure, most of the prominent economies imposed a hefty and abrupt nationwide lockdown curbing the financial activities within the region. The sudden closure had a hard-hitting impact in the labor-intensive and highly volatile construction sector. This factor also reduced new construction and modernization activities, thereby hampering the sales and development of the global market. The reduced cash liquidity, uncertainty in public investments, and pessimistic approach of the established potential investors dipped the market growth. The disruption and complete breakdown of the supply chain of the manufacturing ecosystem have pivoted the degradation of the market across multiple regions. Numerous federal governments had mandated a temporary ban. The governments published immediate directives to shut the transportation of non-essential commodities, which created a massive imbalance between procurement of raw material for products and actual production at the manufacturing facilities. A complete disproportion in the supply and demand for raw materials has decreased the efficiency and output of the industry.
Highlighted with 86 tables and 88 figures, this 162-page report “Global Elevator Equipment & Service Market 2020-2027 by Offering (Equipment, Service), Product Type (Elevators, Escalators, Moving Walkways), Technology (Hydraulic, Traction, Climbing, Pneumatic), End Use (Residential, Commercial, Industrial), and Region: Trend Outlook and Growth Opportunity” is based on a comprehensive research of the entire global elevator equipment & service market and all its sub-segments through extensively detailed classifications.
In-depth qualitative analyses include identification and investigation of the following aspects:
• Market Structure
• Growth Drivers
• Restraints and Challenges
• Emerging Product Trends & Market Opportunities
• Porter’s Fiver Forces
The trend and outlook of global market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19. The balanced (most likely) projection is used to quantify global elevator equipment & service market in every aspect of the classification from perspectives of Offering, Product Type, Technology, End Use, and Region.
By Offering
• Elevator Equipment
• Passenger & Freight Elevators
• Escalators & Moving Walkways
• Parts & Accessories
• Elevator Service
• Installation Service
• Maintenance & Repair Service
• Modernization & Upgrade Service
By Product Type
• Elevators
• Escalators
• Moving Walkways
By Technology
• Hydraulic Elevators
• Conventional Hydraulic Elevators
• Hole-less Hydraulic Elevators
• Roped Hydraulic Elevators
• Traction Elevators
• Geared Traction Elevators
• Gear-less Traction Elevators
• Machine Room-Less Elevators
• Climbing Elevators
• Pneumatic/Vacuum Elevators
By End Use
• Residential Use
• Commercial Use
• Industrial Use
• Other End Uses
By Geography
• North America (U.S., Canada, and Mexico)
• Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Netherlands, Switzerland, Poland, Sweden, Belgium, Austria, Ireland, Norway, Denmark, and Finland)
• APAC (Japan, China, South Korea, Australia, India, and Rest of APAC; Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, Taiwan, and Philippines)
• South America (Brazil, Chile, Argentina, Rest of South America)
• MEA (UAE, Saudi Arabia, South Africa)
For each aforementioned region and country, detailed analysis and data for annual revenue ($ bn) are available for 2017-2027. The breakdown of all regional markets by country and split of key national markets by Offering, Product Type, and End Use over the forecast years are also included.
The report also covers current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players.
Key Players (this may not be a complete list and extra companies can be added upon request):
Fujitec Corporation Limited, Hitachi, Ltd., Hyundai Elevator Co., Ltd., Kleemann Hellas S.A., Kone Corporation, Mitsubishi Electric Corporation, Otis Worldwide Corporation, Schindler Group, Sigma Elevator Company Limited, ThyssenKrupp AG, Toshiba Elevator and Building Systems Corporation,
(Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)
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