Global Elevators Market: Industry Analysis and Forecast (2021-2027) by Application, Type, and Region

Global Elevators Market size was valued at US$ 82.29 Bn. in 2020 and the total revenue is expected to grow at a CAGR of 2.5% through 2021 to 2027, reaching nearly US$ 97.82 Bn.

Global Elevators Market Overview:

The Global Elevators market was valued at US $ 82.29 Bn. in 2020, and it is expected to reach US $ 97.82 Bn. by 2027 with a CAGR of 2.5% during the forecast period. The rise of the elevator market is being fuelled by the massive growth of the building and construction industry, as well as a growing reliance on technology. Transferring heavy and bulky products becomes easier with an elevator, and it saves a lot of time, especially when moving many items. For persons with mobility challenges, elevators can provide a convenient way for them to move around their home with ease, giving them much-needed independence. Global Elevators Market To know about the Research Methodology :- Request Free Sample Report Though market forecasting through 2027 is based on real output, demand and supply of 2020, 2020 numbers are also estimated on real numbers published by key players as well all important players across the world. Market forecasting till 2027 is done based on past data from 2016 to 2019 with the impact of global lock down on the market in 2020 and 2021.

Global Elevators Market Dynamics:

The need for elevators will continue to rise due to rapid urbanisation and the resulting growth of multi-story structures. The growth of the elevators industry is expected to be supported by a tremendous outpouring of investments in building and construction projects. Major driving factors of the market are increasing population, rising economic conditions, and developments of the infrastructure across the globe. Technological advancement is boosting the market of smart elevators. Urbanization is increasing across the world is another factor for the growing demand for smart elevators. One-person household’s trend is raising the demand for smart elevators as well. As a result of the rising migration of a significant population base from rural areas to cities, infrastructure development, such as the construction of high-rise buildings, has become more important to meet the accommodation needs. According to the United Nations Department of Economic and Social Affairs, urban populations will account for 60% of the global population by the end of 2030, and 68 percent by the end of 2050. In the next few years, this is expected to result in rapid urbanisation. The rate of urbanisation is rising, mainly in Asia, Africa, and the Middle East, as a vast number of people migrate to cities, raising the demand for eco-efficient and sustainable communities. In Asia, for example, more than half of the population lives in cities, and this trend is expected to continue in the coming years as the working population shifts away from agriculture and toward service-based industries.

Global Elevators Market Segment Analysis:

Based on the Application, the market is segmented Residential, Commercial, and Others. Residential segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2021-2027. This is due to the rising growth of the existing buildings and construction activities are increased in the sector due to the growing global population. The goal of green engineering is to achieve optimal performance by capturing extra energy that is commonly wasted as heat. The captured energy is fed back into the building's electric infrastructure to be reused. Building projects account for about 40% of global energy use, with elevators accounting for 2% to 10% of that. This number can be reduced to 1–5% by updating the building using smart technologies. Through automation and modernization of existing elevators, the green engineering concept allows players to provide energy-efficient solutions to decrease operational costs. These are the key factors that drive the growth of the residential segment in the Global Elevators market during the forecast period 2021-2027. Global Elevators Market Based on the Type, the market is segmented into Conventional Elevators, and Smart Elevators. Smart Elevators segment is expected to hold the largest market shares of xx% by 2027. The need for connected and smart elevators is on the rise, as end-users show a strong desire to go beyond traditional elevator technologies. Smart elevators, which provide high-end security, improved energy efficiency, better crowd management, and ultra-fast operation, are generating a lot of attention in the global elevators market. The spread of artificial intelligence across a wide range of applications is to blame for the evolution of smart elevators. Manufacturers are working on the development of smart elevators with interactive touch panels, intuitive technology, and cloud-predictive maintenance in response to end user demand. End customers are constantly on the hunt for elevator solutions that are both efficient and engaging, which is driving up demand for smart elevators. These are the key drivers that boost the growth of this segment in the Global Elevators market during the forecast period 2021-2027. Global Elevators Market

Global Elevators Market Regional Insights:

Asia Pacific dominates the Global Elevators market during the forecast period 2021-2027. Asia Pacific is expected to hold the largest market shares of xx% by 2027. Construction activities such as the renovation of the old building, construction roadways, and construction of the building are increasing in developing countries of these regions is also boosting the market of the elevators. Development of rural areas is increasing in the region and is also fuelling the market. India and China are expected to hold the largest share of the market in the forecast period and this is due to an increase in disposable income, changing lifestyles, and the government's funding for infrastructure development. These are the major drivers that boost the growth of this region in the Global market during the forecast period 2021-2027. The objective of the report is to present a comprehensive analysis of the Global Elevators Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also helps in understanding the Global Elevators Market dynamic, structure by analyzing the market segments and project the Global Elevators Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Elevators Market make the report investor’s guide.

Global Elevators Market Scope: Inquire before buying

Global Elevators Market
Report Coverage Details
Base Year: 2020 Forecast Period: 2021-2027
Historical Data: 2016 to 2020 Market Size in 2020: US $ 82.29Bn.
Forecast Period 2021 to 2027 CAGR: 2.5% Market Size in 2027: US $ 97.82Bn.
Segments Covered: by Application • Residential • Commercial • Others
by Type • Conventional Elevators • Smart Elevators

Global Elevators Market, by Region

• North America • Europe • Asia Pacific • South America • Middle East and Africa

Global Elevators Market Key Players

Otis • ThyssenKrupp AG • KONE Corporation • Schindler Holding Ltd • Fujitec Co. Ltd. • Toshiba Corporation • Mitsubishi Electric Corporation • Kleemann Hellas SA • Hitachi Ltd • Hyundai Elevator Co. Ltd. • United Technologies • True Canadian Elevator • Delta Elevator • AVT Beckett • 3D Lifts India Pvt. Ltd.

Frequently Asked Questions:

1] What segments are covered in Global Elevators Market report? Ans. The segments covered in Global Elevators Market report are based on Application, and Type. 2] Which region is expected to hold the highest share in the Global Elevators Market? Ans. Asia Pacific is expected to hold the highest share in the Global Elevators Market. 3] Who are the top key players in the Global Elevators Market? Ans. Otis, ThyssenKrupp AG, KONE Corporation, Schindler Holding Ltd, and Fujitec Co. Ltd. are the top key players in the Global Elevators Market. 4] Which segment holds the largest market share in the Global Elevators market by 2027? Ans. Smart Elevators segment hold the largest market share in the Global Elevators market by 2027. 5] What is the market size of the Global Elevators market by 2027? Ans. The market size of the Global Elevators market is US $97.82 Bn. by 2027. 6] What was the market size of the Global Elevators market in 2020? Ans. The market size of the Global Elevators market was worth US $82.29 Bn. in 2020.

Global Elevators Market

1. Preface 1.1. Report Scope and Market Segmentation 1.2. Research Highlights 1.3. Research Objectives 2. Assumptions and Research Methodology 2.1. Report Assumptions 2.2. Abbreviations Used 2.3. Research Methodology 2.3.1. Secondary Research 2.3.1.1. Secondary data 2.3.1.2. Secondary Sources 2.3.2. Primary Research 2.3.2.1. Data from Primary Sources 2.3.2.2. Breakdown of Primary Sources 3. Executive Summary: Global Elevators Market Size, by Value (US$) and Volume (Unit). 4. Market Overview 4.1. Introduction 4.2. Market Indicator 4.2.1. Drivers 4.2.2. Restraints 4.2.3. Opportunities 4.2.4. Challenges 4.3. Porter’s Analysis 4.4. Value Chain Analysis 4.5. Market Risk Analysis 4.6. SWOT Analysis 4.7. Key Trends in Global Elevators Market 4.8. Industry Trends 4.9. Patent Registration 5. Supply Side and Demand Side Indicators 6. Global Elevators Market Analysis and Forecast 6.1. Global Elevators Market Size& Y-o-Y Growth Analysis 6.1.1. North America 6.1.2. Europe 6.1.3. Asia Pacific 6.1.4. Middle East & Africa 6.1.5. South America 7. Global Elevators Market Analysis and Forecast, By Application 7.1. Introduction and Definition 7.2. Key Findings 7.3. Global Elevators Market Value Share Analysis, By Application 7.4. Global Elevators Market Size (US$ Bn) Forecast, By Application 7.5. Global Elevators Market Analysis, By Application 7.6. Global Elevators Market Attractiveness Analysis, By Application 8. Global Elevators Market Analysis and Forecast, By Type 8.1. Introduction and Definition 8.2. Key Findings 8.3. Global Elevators Market Value Share Analysis, By Type 8.4. Global Elevators Market Size (US$ Bn) Forecast, By Type 8.5. Global Elevators Market Analysis, By Type 8.6. Global Elevators Market Attractiveness Analysis, By Type 9. Global Elevators Market Analysis, by Region 9.1. Global Elevators Market Value Share Analysis, by Region 9.2. Global Elevators Market Size (US$ Bn) Forecast, by Region 9.3. Global Elevators Market Attractiveness Analysis, by Region 10. North America Elevators Market Analysis 10.1. Key Findings 10.2. North America Elevators Market Overview 10.3. North America Elevators Market Value Share Analysis, By Application 10.4. North America Elevators Market Forecast, By Application 10.4.1. Residential 10.4.2. Commercial 10.4.3. Others 10.5. North America Elevators Market Value Share Analysis, By Type 10.6. North America Elevators Market Forecast, By Type 10.6.1. Conventional Elevators 10.6.2. Smart Elevators 10.7. North America Elevators Market Value Share Analysis, by Country 10.8. North America Elevators Market Forecast, by Country 10.8.1. U.S. 10.8.2. Canada 10.9. North America Elevators Market Analysis, by Country 10.10. U.S. Elevators Market Forecast, By Application 10.10.1. Residential 10.10.2. Commercial 10.10.3. Others 10.11. U.S. Elevators Market Forecast, By Type 10.11.1. Conventional Elevators 10.11.2. Smart Elevators 10.12. Canada Elevators Market Forecast, By Application 10.12.1. Residential 10.12.2. Commercial 10.12.3. Others 10.13. Canada Elevators Market Forecast, By Type 10.13.1. Conventional Elevators 10.13.2. Smart Elevators 10.14. North America Elevators Market Attractiveness Analysis 10.14.1. By Application 10.14.2. By Type 10.15. PEST Analysis 10.16. Key Trends 10.17. Key Developments 11. Europe Elevators Market Analysis 11.1. Key Findings 11.2. Europe Elevators Market Overview 11.3. Europe Elevators Market Value Share Analysis, By Application 11.4. Europe Elevators Market Forecast, By Application 11.4.1. Residential 11.4.2. Commercial 11.4.3. Others 11.5. Europe Elevators Market Value Share Analysis, By Type 11.6. Europe Elevators Market Forecast, By Type 11.6.1. Conventional Elevators 11.6.2. Smart Elevators 11.7. Europe Elevators Market Value Share Analysis, by Country 11.8. Europe Elevators Market Forecast, by Country 11.8.1. Germany 11.8.2. U.K. 11.8.3. France 11.8.4. Italy 11.8.5. Spain 11.8.6. Rest of Europe 11.9. Europe Elevators Market Analysis, by Country/ Sub-region 11.10. Germany Elevators Market Forecast, By Application 11.10.1. Residential 11.10.2. Commercial 11.10.3. Others 11.11. Germany Elevators Market Forecast, By Type 11.11.1. Conventional Elevators 11.11.2. Smart Elevators 11.12. U.K. Elevators Market Forecast, By Application 11.12.1. Residential 11.12.2. Commercial 11.12.3. Others 11.13. U.K. Elevators Market Forecast, By Type 11.13.1. Conventional Elevators 11.13.2. Smart Elevators 11.14. France Elevators Market Forecast, By Application 11.14.1. Residential 11.14.2. Commercial 11.14.3. Others 11.15. France Elevators Market Forecast, By Type 11.15.1. Conventional Elevators 11.15.2. Smart Elevators 11.16. Italy Elevators Market Forecast, By Application 11.16.1. Residential 11.16.2. Commercial 11.16.3. Others 11.17. Italy Elevators Market Forecast, By Type 11.17.1. Conventional Elevators 11.17.2. Smart Elevators 11.18. Spain Elevators Market Forecast, By Application 11.18.1. Residential 11.18.2. Commercial 11.18.3. Others 11.19. Spain Elevators Market Forecast, By Type 11.19.1. Conventional Elevators 11.19.2. Smart Elevators 11.20. Rest of Europe Elevators Market Forecast, By Application 11.20.1. Residential 11.20.2. Commercial 11.20.3. Others 11.21. Rest of Europe Elevators Market Forecast, By Type 11.21.1. Conventional Elevators 11.21.2. Smart Elevators 11.22. Europe Elevators Market Attractiveness Analysis 11.22.1. By Application 11.22.2. By Type 11.23. PEST Analysis 11.24. Key Trends 11.25. Key Developments 12. Asia Pacific Elevators Market Analysis 12.1. Key Findings 12.2. Asia Pacific Elevators Market Overview 12.3. Asia Pacific Elevators Market Value Share Analysis, By Application 12.4. Asia Pacific Elevators Market Forecast, By Application 12.4.1. Residential 12.4.2. Commercial 12.4.3. Others 12.5. Asia Pacific Elevators Market Value Share Analysis, By Type 12.6. Asia Pacific Elevators Market Forecast, By Type 12.6.1. Conventional Elevators 12.6.2. Smart Elevators 12.7. Asia Pacific Elevators Market Value Share Analysis, by Country 12.8. Asia Pacific Elevators Market Forecast, by Country 12.8.1. China 12.8.2. India 12.8.3. Japan 12.8.4. ASEAN 12.8.5. Rest of Asia Pacific 12.9. Asia Pacific Elevators Market Analysis, by Country/ Sub-region 12.10. China Elevators Market Forecast, By Application 12.10.1. Residential 12.10.2. Commercial 12.10.3. Others 12.11. China Elevators Market Forecast, By Type 12.11.1. Conventional Elevators 12.11.2. Smart Elevators 12.12. India Elevators Market Forecast, By Application 12.12.1. Residential 12.12.2. Commercial 12.12.3. Others 12.13. India Elevators Market Forecast, By Type 12.13.1. Conventional Elevators 12.13.2. Smart Elevators 12.14. Japan Elevators Market Forecast, By Application 12.14.1. Residential 12.14.2. Commercial 12.14.3. Others 12.15. Japan Elevators Market Forecast, By Type 12.15.1. Conventional Elevators 12.15.2. Smart Elevators 12.16. ASEAN Elevators Market Forecast, By Application 12.16.1. Residential 12.16.2. Commercial 12.16.3. Others 12.17. ASEAN Elevators Market Forecast, By Type 12.17.1. Conventional Elevators 12.17.2. Smart Elevators 12.18. Rest of Asia Pacific Elevators Market Forecast, By Application 12.18.1. Residential 12.18.2. Commercial 12.18.3. Others 12.19. Rest of Asia Pacific Elevators Market Forecast, By Type 12.19.1. Conventional Elevators 12.19.2. Smart Elevators 12.20. Asia Pacific Elevators Market Attractiveness Analysis 12.20.1. By Application 12.20.2. By Type 12.21. PEST Analysis 12.22. Key Trends 12.23. Key Developments 13. Middle East & Africa Elevators Market Analysis 13.1. Key Findings 13.2. Middle East & Africa Elevators Market Overview 13.3. Middle East & Africa Elevators Market Value Share Analysis, By Application 13.4. Middle East & Africa Elevators Market Forecast, By Application 13.4.1. Residential 13.4.2. Commercial 13.4.3. Others 13.5. Middle East & Africa Elevators Market Value Share Analysis, By Type 13.6. Middle East & Africa Elevators Market Forecast, By Type 13.6.1. Conventional Elevators 13.6.2. Smart Elevators 13.7. Middle East & Africa Elevators Market Value Share Analysis, by Country 13.8. Middle East & Africa Elevators Market Forecast, by Country 13.8.1. GCC 13.8.2. South Africa 13.8.3. Rest of Middle East & Africa 13.9. Middle East & Africa Elevators Market Analysis, by Country/ Sub-region 13.10. GCC Elevators Market Forecast, By Application 13.10.1. Residential 13.10.2. Commercial 13.10.3. Others 13.11. GCC Elevators Market Forecast, By Type 13.11.1. Conventional Elevators 13.11.2. Smart Elevators 13.12. South Africa Elevators Market Forecast, By Application 13.12.1. Residential 13.12.2. Commercial 13.12.3. Others 13.13. South Africa Elevators Market Forecast, By Type 13.13.1. Conventional Elevators 13.13.2. Smart Elevators 13.14. Rest of Middle East & Africa Elevators Market Forecast, By Application 13.14.1. Residential 13.14.2. Commercial 13.14.3. Others 13.15. Rest of Middle East & Africa Elevators Market Forecast, By Type 13.15.1. Conventional Elevators 13.15.2. Smart Elevators 13.16. Middle East & Africa Elevators Market Attractiveness Analysis 13.16.1. By Application 13.16.2. By Type 13.17. PEST Analysis 13.18. Key Trends 13.19. Key Developments 14. South America Elevators Market Analysis 14.1. Key Findings 14.2. South America Elevators Market Overview 14.3. South America Elevators Market Value Share Analysis, By Application 14.4. South America Elevators Market Forecast, By Application 14.4.1. Residential 14.4.2. Commercial 14.4.3. Others 14.5. South America Elevators Market Value Share Analysis, By Type 14.6. South America Elevators Market Forecast, By Type 14.6.1. Conventional Elevators 14.6.2. Smart Elevators 14.7. South America Elevators Market Value Share Analysis, by Country 14.8. South America Elevators Market Forecast, by Country 14.8.1. Brazil 14.8.2. Mexico 14.8.3. Rest of South America 14.9. South America Elevators Market Analysis, by Country/ Sub-region 14.10. Brazil Elevators Market Forecast, By Application 14.10.1. Residential 14.10.2. Commercial 14.10.3. Others 14.11. Brazil Elevators Market Forecast, By Type 14.11.1. Conventional Elevators 14.11.2. Smart Elevators 14.12. Mexico Elevators Market Forecast, By Application 14.12.1. Residential 14.12.2. Commercial 14.12.3. Others 14.13. Mexico Elevators Market Forecast, By Type 14.13.1. Conventional Elevators 14.13.2. Smart Elevators 14.14. Rest of South America Elevators Market Forecast, By Application 14.14.1. Residential 14.14.2. Commercial 14.14.3. Others 14.15. Rest of South America Elevators Market Forecast, By Type 14.15.1. Conventional Elevators 14.15.2. Smart Elevators 14.16. South America Elevators Market Attractiveness Analysis 14.16.1. By Application 14.16.2. By Type 14.17. PEST Analysis 14.18. Key Trends 14.19. Key Developments 15. Competitive Landscape 15.1. Market Share Analysis, by Company 15.2. Competition Matrix 15.2.1. Competitive Benchmarking of key players by price, presence, market share, Applications and R&D investment 15.2.2. New Product Launches and Product Enhancements 15.2.3. Market Consolidation 15.2.3.1. M&A By Regions, Investment, Applications 15.2.3.2. M&A Key Players, Forward Integration, Backward Integration 15.3. Company Profiles: Key Players 15.3.1. Otis 15.3.1.1. Company Overview 15.3.1.2. Financial Overview 15.3.1.3. Product Portfolio 15.3.1.4. Business Strategy 15.3.1.5. Recent Developments 15.3.1.6. Manufacturing Footprint 15.3.2. ThyssenKrupp AG 15.3.3. KONE Corporation 15.3.4. Schindler Holding Ltd. 15.3.5. Fujitec Co. Ltd. 15.3.6. Toshiba Corporation 15.3.7. Mitsubishi Electric Corporation 15.3.8. Kleemann Hellas SA 15.3.9. Hitachi Ltd 15.3.10. Hyundai Elevator Co. Ltd. 15.3.11. United Technologies 16. Primary Key Insights.

About This Report

Report ID22489
Category Consumer Goods & Services
Published DateJun 2019
Updated DateOct 2021
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