Elevators Market Size - By Product Type (Hydraulic, Traction, Machine Room-Less Traction), By Deck Type (Single Deck, Double Deck), By Building Height, By Speed, By Destination Control, By Business, By Application, By End Use and Forecast, 2024

Description

Global Elevators Market will register a 2.5% CAGR between 2024 and 2032, owing to rising disposable incomes and urban lifestyles. As urbanization accelerates globally, particularly in emerging economies, there is a growing preference for specialized elevator solutions tailored to luxury and high-rise residential buildings. This trend reflects a shift towards enhanced living standards and convenience, prompting increased investments in advanced elevator technologies. Manufacturers are responding with innovations that offer improved efficiency, safety features, and aesthetic appeal, catering to the evolving demands of urban dwellers seeking elevated living experiences.

For instance, in February 2024, TK Elevator introduced 'enta villa', a luxury compact elevator designed for multi-floor homes in India. This new home elevator concept aims to cater to the rising demand for luxury housing and lifestyle products in the country. This development suggests a broader trend towards specialized, high-end elevator solutions tailored to specific regional demands. Globally, it reflects an increasing diversification of elevator offerings beyond traditional commercial applications, potentially influencing market dynamics by fostering innovation and competition in the luxury segment.

The elevators industry is segmented based on product type, deck type, building height, speed, destination control, business, application, end use, and region.

The hydraulic elevators segment will witness considerable expansion through 2032 due to its efficiency, reliability, and suitability for low- to mid-rise buildings. These elevators excel in applications where smooth, quiet operation is crucial, such as in residential complexes and smaller commercial spaces. Factors like cost-effectiveness and ease of installation further bolster their popularity. With technological advancements enhancing their performance and sustainability credentials, the hydraulic elevators segment will maintain its prominent position, catering to diverse vertical transportation needs globally.

The passenger segment will garner remarkable gains by 2032, attributed to the increasing need for efficient vertical transportation in high-rise buildings worldwide. With urbanization and population growth driving demand for residential and commercial spaces, there is a heightened emphasis on enhancing building accessibility and convenience. Passenger elevators, designed for comfort, speed, and safety, cater to these requirements effectively. As cities expand and infrastructure evolves, the passenger elevator segment will remain vital in meeting the escalating demands for seamless vertical mobility.

Asia Pacific elevators market share will grow at a noteworthy CAGR from 2024 to 2032, propelled by rapid urbanization, infrastructural development, and increasing investments in commercial and residential sectors. Countries like China, India, and Japan are pivotal, witnessing substantial demand for high-rise buildings and urban mobility solutions. Factors such as population growth and rising disposable incomes further boost market growth in the region. These dynamics position Asia Pacific as a key contributor to the elevators industry, fostering innovation and technological advancements in vertical transportation solutions.

Product Code: 2834

Chapter 1 Methodology & Scope

1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast parameters
1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
  - 1.4.2.1 Paid sources
  - 1.4.2.2 Public sources

Chapter 2 Executive Summary

2.1 Industry 360-degree synopsis, 2021 - 2032

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
- 3.1.1 Factor affecting the value chain
- 3.1.2 Profit margin analysis
- 3.1.3 Disruptions
- 3.1.4 Future outlook
- 3.1.5 Manufacturers
- 3.1.6 Distributors
- 3.1.7 Retailors
3.2 Regulatory landscape
3.3 Impact forces
- 3.3.1 Growth drivers
  - 3.3.1.1 Developments in the Asia Pacific building & construction industry
  - 3.3.1.2 Development of innovative technologies and rising demand for smart elevators
- 3.3.2 Industry pitfalls & challenges
  - 3.3.2.1 High installation and maintenance cost
3.4 Consumer buying behavior analysis
- 3.4.1 Demographic trends
- 3.4.2 Factors affecting buying decision
- 3.4.3 Consumer product adoption
- 3.4.4 Preferred distribution channel
- 3.4.5 Preferred price range
3.5 Growth potential analysis
3.6 Porter's analysis
3.7 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix

Chapter 5 Market Estimates & Forecast, By Product, 2021 - 2032, (USD Million) (Thousand Units)

5.1 Key trends
5.2 Hydraulic
5.3 Traction
5.4 Machine Room-Less traction
5.5 Others

Chapter 6 Market Estimates & Forecast, By Deck, 2021 - 2032, (USD Million) (Thousand Units)

6.1 Key trends
6.2 Single deck
6.3 Double deck

Chapter 7 Market Estimates & Forecast, By Building Height, 2021 - 2032, (USD Million) (Thousand Units)

7.1 Key trends
7.2 Low-rise
7.3 Mid-rise
7.4 High-rise

Chapter 8 Market Estimates & Forecast, By Speed, 2021 - 2032, (USD Million) (Thousand Units)

8.1 Key trends
8.2. Less than 1 m/s
8.3 Between 1 m/s to 3 m/s
8.4 Between 4 m/s to 6 m/s
8.5 Between 7 m/s to 10 m/s
8.6 Above 10 m/s

Chapter 9 Market Estimates & Forecast, By Destination Control, 2021 - 2032, (USD Million) (Thousand Units)

9.1 Key trends
9.2 Smart
9.3 Conventional

Chapter 10 Market Estimates & Forecast, By Business, 2021 - 2032, (USD Million) (Thousand Units)

10.1 Key trends
10.2 New equipment
10.3 Maintenance
10.4 Modernization

Chapter 11 Market Estimates & Forecast, By Application, 2021 - 2032, (USD Million) (Thousand Units)

11.1 Key trends
11.2 Passenger
11.3 Freight

Chapter 12 Market Estimates & Forecast, By End Use, 2021 - 2032, (USD Million) (Thousand Units)

12.1 Key trends
12.2 Residential
- 12.2.1 Home lifts
- 12.2.2 Others
12.3 Industrial
12.4 Commercial
- 12.4.1 Office
- 12.4.2 Hotels
- 12.4.3 Healthcare

Chapter 13 Market Estimates & Forecast, By Region, 2021 - 2032, (USD Million) (Thousand Units)

13.1 Key trends
13.2 North America
- 13.2.1 U.S.
- 13.2.2 Canada
13.3 Europe
- 13.3.1 Germany
- 13.3.2 UK
- 13.3.3 France
- 13.3.4 Italy
- 13.3.5 Spain
- 13.3.6 Rest of Europe
13.4 Asia Pacific
- 13.4.1 China
- 13.4.2 India
- 13.4.3 Japan
- 13.4.4 South Korea
- 13.4.5 Australia
- 13.4.6 Rest of Asia Pacific
13.5 Latin America
- 13.5.1 Brazil
- 13.5.2 Mexico
- 13.5.3 Rest of Latin America
13.6 MEA
- 13.6.1 UAE
- 13.6.2 Saudi Arabia
- 13.6.3 South Africa
- 13.6.4 Rest of MEA

Chapter 14 Company Profiles (Business Overview, Financial Data, Product Landscape, Strategic Outlook, SWOT Analysis)

14.1 Schindler
14.2 FUJITEC CO., LTD.
14.3 Mitsubishi Electric Corporation
14.4 KONE
14.5 Hitachi, Ltd.
14.6 TK Elevator
14.7 HYUNDAIELEVATOR CO.,LTD.
14.8 Toshiba Group
14.9 Aritco Lift AB
14.10 EMAK
14.11 Sigma Elevator Company
14.12 Schumacher Elevator Company
14.13 ESCON Elevators Pvt Limited
14.14 Electra Elevators
14.15 CANNY ELEVATOR CO, LTD.

Elevators Market Size - By Product Type (Hydraulic, Traction, Machine Room-Less Traction), By Deck Type (Single Deck, Double Deck), By Building Height, By Speed, By Destination Control, By Business, By Application, By End Use and Forecast, 2024 - 2032.