PUBLISHER: Market Research Future | PRODUCT CODE: 1656054
PUBLISHER: Market Research Future | PRODUCT CODE: 1656054
Report on Africa Elevators and Escalators Market Research by Products (Elevators and Escalators), by Technology (Traction, Hydraulic Traction, Pneumatic/Vacuum, Chain drive and Direct Drive), Application (Residential, Commercial, Public Transit, Institutional, Industrial) Forecast to 2030
During the research period, the Africa Elevators and Escalators Market is expected to grow at a robust CAGR of 5.05%. Adoption of Western-style structures and facilities, rising urbanization and population concentration in cities, infrastructure development, and the creation of green and sustainable building solutions are important growth factors.
Although Schindler, Otis, KONE, Hyundai, and Thyssenkrupp hold a sizable share of the industry, the sizable "Others" group emphasizes the continuous prospects for expansion and rivalry.
In 2024, South Africa had the greatest market share of any nation, and it is anticipated to continue to do so for the duration of the forecast. Passenger elevators are the most popular elevator product type, and this trend is predicted to continue by 2030. With a CAGR of 8.07%, belt type escalators are anticipated to expand at the fastest pace among escalators.
Segmenting the Market
The market for elevators and escalators was divided into two segments based on product categories.
Passenger elevators, freight elevators, home elevators, dumbwaiters, and others are further subcategories of the elevators segment. On the other hand, escalators come in two varieties: step and belt.
Elevators are divided into three segments based on speed: low speed (up to 1 m/s), mid speed (1-2.5 m/s), and high speed (over 2.5 m/s).
Elevators, Traction, Geared Traction, Gearless Traction, Hydraulic Traction, Conventional Hydraulic, Hole-less Hydraulic, Roped Hydraulic, and Other are the market segments based on technology.
The market is divided into the following segments based on application: retail stores, hotels & restaurants, shopping malls, commercial establishments, exhibition centers, and others.
Public transportation, train and metro stations, bus terminals, airports, hospitals, educational institutions, government buildings, and other establishments
Otis Elevator Company, Schindler Group, KONE Corporation, Mitsubishi Electric Corporation, Hitachi Elevator, Hyundai Elevator, and Fujitec Co., Ltd. are the major participants in the market.