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Elevator and Escalator Market to Grow US$ 114.90 Billion by 2027

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The global Elevator and Escalator market size is expected to surpass around US$ 114.90 billion by 2027 and the market is expected to garner growth at a CAGR of 6.3% over the forecast period 2021 to 2027.

The Elevator and Escalator market report covers a detailed analysis for the historic period 2017-2020, considering 2021 as the base year and forecast (growth) for 2021-2027.

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Growth Factors

Elevators and escalators are experiencing the fastest growth rate for the transportation of people and other goods in developed as well as developing economies. The rapid urbanization and industrialization across emerging countries such as India and China are heightening market growth and development. The demand for smart cities together with smart infrastructure will have a positive impact on powering market growth. Furthermore, with the advancement of technology, vendors are investing high on R&D to provide smart elevators to the customers with better designs and attractive features. This investment by the big organizations and the major players across the world will improve the growth and development of the escalators and elevators market in the near future. Moreover, in order to diminish the travel time in moving and transportation of goods and people is going to boost the development of the market. In addition, the increasing number of aged and elderly population will also support the growth of elevators and escalators in residential constructions and apartments in developed and developing countries. On the other hand, safety issues and a dearth of skilled workforce are expected to hinder the elevators and escalators market growth.

Market Report Scope

Report Highlights Details
Market Size USD 114.90 Billion by 2027
Growth Rate CAGR of 6.3% from 2021 to 2027
Largest Market Asia Pacific
Fastest Growing Market Europe
Base Year 2021
Forecast Period 2021 to 2027

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Market Overview

A recent study by Precedence Research on the Elevator and Escalator market offers a forecast for 2021 and 2027. The study analyzes crucial trends that are currently determining the growth of the Elevator and Escalator market. This report explicates on vital dynamics such as the drivers, restraints, and opportunities for key market players, along with key stakeholders as well as emerging players associated with the manufacturing of Elevator and Escalator. The study also provides the dynamics that are responsible for influencing the future status of the Elevator and Escalator market over the forecast period.

A detailed assessment of the Elevator and Escalator market value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the Elevator and Escalator market along with their product portfolio enhances the reliability of this comprehensive research study.

Report Highlights

  • The Asia Pacific region is the largest and fastest-growing region in the elevator & escalator market. A huge number of high-rise buildings in metro cities are driving market demand.
  • Technological innovation is amplifying the speed of elevators and escalators and reducing transportation time.
  • The global elevator & escalator market is extremely competitive with the presence of several global and regional players. Vendors are investing in product innovation to increase their consumer base.

Regional Snapshots

By geographically, the Asia Pacific region is expected to hold the largest market share and dominate the elevators & escalators market during the forecast period. The growth of the elevators & escalators market in this region is boosted by factors such as the development of the residential, commercial, institutional, and infrastructure industries. Furthermore, the growing population and economic development are other factors that further propel the growth of this market. The region offers potential growth opportunities, as developing economies such as Asia Pacific is expected to record fastest compound annual growth rate on account of presence of evolving economies including India and China. Booming advanced commercial and residential sector in these nations is further propelling the market growth. Europe is anticipated to witness significant growth in the maintenance and modernization of escalators and elevators market. The North America region is projected to exhibit growth in elevators and escalators service offerings over the projection period. The Middle East & Africa region is estimated to considerably contribute to the elevators & escalators market growth in the near future owing to snowballing commercial and residential construction activities. Further, the political uncertainty of Brazil is further anticipated to impact the growth of the market in the Latin America region.

OBJECTIVES OF THE STUDY

  • To analyze and forecast the electric motor market, in terms of value and volume
  • To provide information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
  • To define, segment, and project the size of the global electric motor market on the product type, end-use and other segments
  • To project the size of the market, with respect to five main regions, namely, North America, Europe, Asia Pacific (APAC), the Middle East & Africa, and South America, with their key countries
  • To strategically analyze micro markets with respect to individual growth trends, growth prospects, and their contribution to the total market
  • To analyze opportunities in the market for stakeholders and provide a competitive landscape of the market leaders
  • To strategically profile key players and comprehensively analyze their core competencies
  • To track and analyze research & development (R&D) and competitive developments such as joint ventures, mergers & acquisitions, and new product developments in the electric motor market

Research Methodology

  • Market estimate for 2020
  • Average selling price (ASP) per region for specific product type
  • Filtrations and assortment of gathered data, to estimate the base year (2021) market size for the country
  • Gathering data from company websites, annual reports, white papers, financial reports, broker reports, investor presentations, and SEC filings
  • National government documents, statistical databases
  • News articles, press releases, and webcasts specific to companies operating in the market
  • Country wise analysis through internal and external proprietary databases, and relevant patent and regulatory databases
  • Determination of market penetration by country

Major Players Covered in this Report

The updated market research report on electric motor market allows the buyers and manufacturers to stay updated with the current market trends, ongoing happenings, and a clear picture on the market scenario. List of key players included in the research report will help the market vendors to know their market position and plan more operational strategies to gain topmost position among other players. The report offers crucial company information on each market player, such as company profile, financial information, and recently adopted growth strategies. This will help other existing players and the new entrants to plan strategies and establish their presence in the market.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

  • Company Overview
  • Company Market Share/Positioning Analysis
  • Product Offerings
  • Financial Performance
  • Recent Initiatives
  • Key Strategies Adopted by Players
  • Vendor Landscape
  • List of Suppliers
  • List of Buyers

Major key players operating in the market are

  • Otis Elevator Company
  • Kone Corporation
  • Schindler Group
  • Thyssenkrupp AG
  • Fujitec
  • Hitachi, Ltd.
  • Mitsubishi Electric Corporation
  • Toshiba Elevators and Building Systems Corporation
  • Hyundai Elevator Co., Ltd.
  • SJEC Corporation

Segments Covered in the Report

By Product

  • Elevators
  • Moving Walkways
  • Escalators

By Business

  • Maintenance
  • New Equipment
  • Modernization

By Application

  • Industrial
  • Residential
  • Commercial

By Regional Outlook

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Rest of the World

Why should you invest in this report?

If you are aiming to enter the global Elevator and Escalator market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for Elevator and Escalator are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2027, so that you can plan your strategies to enter this market accordingly. Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective
1.2. Scope of the Study
1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope

4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis

Chapter 5. Market Dynamics Analysis and Trends

5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition

Chapter 6. Competitive Landscape

6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers

Chapter 7. Global Elevator and Escalator Market, By Product

7.1. Elevator and Escalator Market, by Product Type, 2020-2027
7.1.1. Elevators
7.1.1.1. Market Revenue and Forecast (2016-2027)
7.1.2. Moving Walkways
7.1.2.1. Market Revenue and Forecast (2016-2027)
7.1.3. Escalators
7.1.3.1. Market Revenue and Forecast (2016-2027)

Chapter 8. Global Elevator and Escalator Market, By Application

8.1. Elevator and Escalator Market, by Application, 2020-2027
8.1.1. Industrial
8.1.1.1. Market Revenue and Forecast (2016-2027)
8.1.2. Residential
8.1.2.1. Market Revenue and Forecast (2016-2027)
8.1.3. Commercial
8.1.3.1. Market Revenue and Forecast (2016-2027)

Chapter 9. Global Elevator and Escalator Market, By Business

9.1. Elevator and Escalator Market, by Business, 2020-2027
9.1.1. Maintenance
9.1.1.1. Market Revenue and Forecast (2016-2027)
9.1.2. New Equipment
9.1.2.1. Market Revenue and Forecast (2016-2027)
9.1.3. Modernization
9.1.3.1. Market Revenue and Forecast (2016-2027)

Chapter 10. Global Elevator and Escalator Market, Regional Estimates and Trend Forecast

10.1. North America
10.1.1. Market Revenue and Forecast, by Product (2016-2027)
10.1.2. Market Revenue and Forecast, by Application (2016-2027)
10.1.3. Market Revenue and Forecast, by Business (2016-2027)
10.1.4. U.S.
10.1.4.1. Market Revenue and Forecast, by Product (2016-2027)
10.1.4.2. Market Revenue and Forecast, by Application (2016-2027)
10.1.4.3. Market Revenue and Forecast, by Business (2016-2027)
10.1.5. Rest of North America
10.1.5.1. Market Revenue and Forecast, by Product (2016-2027)
10.1.5.2. Market Revenue and Forecast, by Application (2016-2027)
10.1.5.3. Market Revenue and Forecast, by Business (2016-2027)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Product (2016-2027)
10.2.2. Market Revenue and Forecast, by Application (2016-2027)
10.2.3. Market Revenue and Forecast, by Business (2016-2027)
10.2.4. UK
10.2.4.1. Market Revenue and Forecast, by Product (2016-2027)
10.2.4.2. Market Revenue and Forecast, by Application (2016-2027)
10.2.4.3. Market Revenue and Forecast, by Business (2016-2027)
10.2.5. Germany
10.2.5.1. Market Revenue and Forecast, by Product (2016-2027)
10.2.5.2. Market Revenue and Forecast, by Application (2016-2027)
10.2.5.3. Market Revenue and Forecast, by Business (2016-2027)
10.2.6. France
10.2.6.1. Market Revenue and Forecast, by Product (2016-2027)
10.2.6.2. Market Revenue and Forecast, by Application (2016-2027)
10.2.6.3. Market Revenue and Forecast, by Business (2016-2027)
10.2.7. Rest of Europe
10.2.7.1. Market Revenue and Forecast, by Product (2016-2027)
10.2.7.2. Market Revenue and Forecast, by Application (2016-2027)
10.2.7.3. Market Revenue and Forecast, by Business (2016-2027)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Product (2016-2027)
10.3.2. Market Revenue and Forecast, by Application (2016-2027)
10.3.3. Market Revenue and Forecast, by Business (2016-2027)
10.3.4. India
10.3.4.1. Market Revenue and Forecast, by Product (2016-2027)
10.3.4.2. Market Revenue and Forecast, by Application (2016-2027)
10.3.4.3. Market Revenue and Forecast, by Business (2016-2027)
10.3.5. China
10.3.5.1. Market Revenue and Forecast, by Product (2016-2027)
10.3.5.2. Market Revenue and Forecast, by Application (2016-2027)
10.3.5.3. Market Revenue and Forecast, by Business (2016-2027)
10.3.6. Japan
10.3.6.1. Market Revenue and Forecast, by Product (2016-2027)
10.3.6.2. Market Revenue and Forecast, by Application (2016-2027)
10.3.6.3. Market Revenue and Forecast, by Business (2016-2027)
10.3.7. Rest of APAC
10.3.7.1. Market Revenue and Forecast, by Product (2016-2027)
10.3.7.2. Market Revenue and Forecast, by Application (2016-2027)
10.3.7.3. Market Revenue and Forecast, by Business (2016-2027)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Product (2016-2027)
10.4.2. Market Revenue and Forecast, by Application (2016-2027)
10.4.3. Market Revenue and Forecast, by Business (2016-2027)
10.4.4. GCC
10.4.4.1. Market Revenue and Forecast, by Product (2016-2027)
10.4.4.2. Market Revenue and Forecast, by Application (2016-2027)
10.4.4.3. Market Revenue and Forecast, by Business (2016-2027)
10.4.5. North Africa
10.4.5.1. Market Revenue and Forecast, by Product (2016-2027)
10.4.5.2. Market Revenue and Forecast, by Application (2016-2027)
10.4.5.3. Market Revenue and Forecast, by Business (2016-2027)
10.4.6. South Africa
10.4.6.1. Market Revenue and Forecast, by Product (2016-2027)
10.4.6.2. Market Revenue and Forecast, by Application (2016-2027)
10.4.6.3. Market Revenue and Forecast, by Business (2016-2027)
10.4.7. Rest of MEA
10.4.7.1. Market Revenue and Forecast, by Product (2016-2027)
10.4.7.2. Market Revenue and Forecast, by Application (2016-2027)
10.4.7.3. Market Revenue and Forecast, by Business (2016-2027)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Product (2016-2027)
10.5.2. Market Revenue and Forecast, by Application (2016-2027)
10.5.3. Market Revenue and Forecast, by Business (2016-2027)
10.5.4. Brazil
10.5.4.1. Market Revenue and Forecast, by Product (2016-2027)
10.5.4.2. Market Revenue and Forecast, by Application (2016-2027)
10.5.4.3. Market Revenue and Forecast, by Business (2016-2027)
10.5.5. Rest of LATAM
10.5.5.1. Market Revenue and Forecast, by Product (2016-2027)
10.5.5.2. Market Revenue and Forecast, by Application (2016-2027)
10.5.5.3. Market Revenue and Forecast, by Business (2016-2027)

Chapter 11. Company Profiles

11.1. Otis Elevator Company
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. Kone Corporation
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Schindler Group
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Thyssenkrupp AG
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. Fujitec
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. Hitachi, Ltd.
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. Mitsubishi Electric Corporation
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. Toshiba Elevators and Building Systems Corporation
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. Hyundai Elevator Co., Ltd.
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. SJEC Corporation
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives

Chapter 12. Research Methodology

12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions

Chapter 13. Appendix

13.1. About Us
13.2. Glossary of Terms

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I have completed my education in Bachelors in Computer Application. A focused learner having a keen interest in the field of digital marketing, SEO, SMM, and Google Analytics enthusiastic to learn new things along with building leadership skills.

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