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Forecasts put the global market for lifts and escalators at USD 183.5 bn by 2030, growing at a CAGR of 7.4%. Rising demand from the residential, commercial and infrastructure sectors has analysts optimistic about the future of the lifts and escalators business.
The market for elevators and escalators in Europe is robust and evolving, encompassing a wide range of activities from product development to service and maintenance. Elevators and escalators, which allow for streamlined vertical mobility in high-rise buildings, public areas, transportation hubs and commercial complexes, are vital parts of the modern urban infrastructure. The market's recent explosive rise can be attributed to a number of different causes. To begin, the demand for vertical transportation solutions has risen as major European towns undergo rapid urbanisation and the construction of towering buildings. Second, the rising value placed on lift and escalator systems that are both energy-efficient and technologically advanced has stoked innovation and investment in the sector. Market expansion has been influenced by both the introduction of smart technology and by government restrictions aiming at raising safety standards. Therefore, major lift and escalator manufacturers are continually releasing cutting-edge systems with improved safety features, eco-friendly operations, and Internet of Things (IoT) connectivity to fulfil the evolving needs of clients.
This study breaks down the lift and escalator market in Europe into distinct submarkets, complete with estimates for revenue growth and analyses of current and future market trends. The study examines the factors driving growth in the Europe lift and escalator market as well as the opportunities and threats that exist in this industry. The competitive landscape has been drawn taking into account the most up-to-date market changes and strategic moves, such as expansion, product launch and development, collaboration, merger, and acquisition. The research provides a comprehensive analysis of the Europe lift and escalator market, including a detailed breakdown of each subsegment and a detailed assessment of the leading competitors in each.
Reasons Why
Large European cities have seen an increase in the number of skyscrapers, shopping malls, and transit hubs as a result of rapid urbanisation. Therefore, in order to provide efficient vertical transit solutions, the need for lifts and escalators has increased in highly populated urban regions. Energy-efficient systems, smart controls, destination dispatching, and predictive maintenance are just a few examples of how improvements in lift and escalator technology have revolutionised the sector. Safety, performance, and convenience have all been boosted by the combination of IoT and AI, which has helped to drive the sector ahead. The demand for lifts and escalators in Europe is directly tied to the expansion of the region's building and real estate industries. The construction of new buildings and the refurbishment of older ones has increased demand for vertical transportation systems.
Limiting Circumstances
The building and real estate industries, which are highly reliant on lifts and escalators, may feel the effects of economic volatility and uncertainty. Economic downturns and recessions can cause delays or cancellations in construction projects, reducing the need for lifts and escalators.
Market share for lifts and escalators can be broken down according to application and design.
During the projected period, the lift subsegment is anticipated to account for the lion's share of Europe's lift and escalator market.
The lift and escalator market in Europe is segmented into three main product categories: lifts, escalators and moving walkways. The Europe lift and escalator market is likely to be led by the lift subsegment during the course of the forecast time period. Elevators' rising popularity can be attributed in part to the fact that they can be found in both homes and businesses. In addition, urbanisation, the construction of taller buildings, and the necessity for effective vertical transit options have all contributed to a surge in demand for lifts in the region.
The Europe lift and escalator market is predicted to grow at the fastest rate over the next several years, with machine roomless traction lifts taking the lion's share.
Tractor elevators, machine room-less traction elevators and hydraulic escalators make up different segments of the Europe elevator and escalator market. Among these, machine room-less traction lifts are projected to dominate Europe's lift and escalator market over the coming years. Because of its compact size, greater energy efficiency, and cutting-edge amenities, MRL lifts have become increasingly popular for both new and renovated buildings.
Report Coverage
Global Elevator and Escalator research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Elevator and Escalator report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Elevator and Escalator competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Elevator and Escalator market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Elevator and Escalator market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Elevator and Escalator market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
AIRBUS, Cobham SATCOM, ESS Weathertech, General Dynamics Mission Systems, Inc., Kongsberg Defense & Aerospace, Kratos Defense & Security Solutions, Inc., Lockheed Martin Corporation, Maxar Technologies, Mitsubishi Electric Corporation, Orbit Communications Systems Ltd., Safran, Schindler Group (Switzerland), Otis Elevator (US), Thyssenkrupp AG (Germany), KONE Corporation (Finland), and Hitachi Ltd. (Japan).
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Elevator and Escalator market based on the below-mentioned segments:
Global Elevator and Escalator Market, By Type
Elevator
Escalator
Moving Walkways
Global Elevator and Escalator market, By Technology
Tractor Elevator
Machine Room-less Traction Elevator
Hydraulic
Global Elevator and Escalator Market, By End User
Residential
Commercial
Institutional Infrastructure
Global Elevator and Escalator market, Regional Analysis
The market for elevators and escalators in Europe is robust and evolving, encompassing a wide range of activities from product development to service and maintenance. Elevators and escalators, which allow for streamlined vertical mobility in high-rise buildings, public areas, transportation hubs and commercial complexes, are vital parts of the modern urban infrastructure. The market's recent explosive rise can be attributed to a number of different causes. To begin, the demand for vertical transportation solutions has risen as major European towns undergo rapid urbanisation and the construction of towering buildings. Second, the rising value placed on lift and escalator systems that are both energy-efficient and technologically advanced has stoked innovation and investment in the sector. Market expansion has been influenced by both the introduction of smart technology and by government restrictions aiming at raising safety standards. Therefore, major lift and escalator manufacturers are continually releasing cutting-edge systems with improved safety features, eco-friendly operations, and Internet of Things (IoT) connectivity to fulfil the evolving needs of clients.
This study breaks down the lift and escalator market in Europe into distinct submarkets, complete with estimates for revenue growth and analyses of current and future market trends. The study examines the factors driving growth in the Europe lift and escalator market as well as the opportunities and threats that exist in this industry. The competitive landscape has been drawn taking into account the most up-to-date market changes and strategic moves, such as expansion, product launch and development, collaboration, merger, and acquisition. The research provides a comprehensive analysis of the Europe lift and escalator market, including a detailed breakdown of each subsegment and a detailed assessment of the leading competitors in each.
Reasons Why
Large European cities have seen an increase in the number of skyscrapers, shopping malls, and transit hubs as a result of rapid urbanisation. Therefore, in order to provide efficient vertical transit solutions, the need for lifts and escalators has increased in highly populated urban regions. Energy-efficient systems, smart controls, destination dispatching, and predictive maintenance are just a few examples of how improvements in lift and escalator technology have revolutionised the sector. Safety, performance, and convenience have all been boosted by the combination of IoT and AI, which has helped to drive the sector ahead. The demand for lifts and escalators in Europe is directly tied to the expansion of the region's building and real estate industries. The construction of new buildings and the refurbishment of older ones has increased demand for vertical transportation systems.
Limiting Circumstances
The building and real estate industries, which are highly reliant on lifts and escalators, may feel the effects of economic volatility and uncertainty. Economic downturns and recessions can cause delays or cancellations in construction projects, reducing the need for lifts and escalators.
Market share for lifts and escalators can be broken down according to application and design.
During the projected period, the lift subsegment is anticipated to account for the lion's share of Europe's lift and escalator market.
The lift and escalator market in Europe is segmented into three main product categories: lifts, escalators and moving walkways. The Europe lift and escalator market is likely to be led by the lift subsegment during the course of the forecast time period. Elevators' rising popularity can be attributed in part to the fact that they can be found in both homes and businesses. In addition, urbanisation, the construction of taller buildings, and the necessity for effective vertical transit options have all contributed to a surge in demand for lifts in the region.
The Europe lift and escalator market is predicted to grow at the fastest rate over the next several years, with machine roomless traction lifts taking the lion's share.
Tractor elevators, machine room-less traction elevators and hydraulic escalators make up different segments of the Europe elevator and escalator market. Among these, machine room-less traction lifts are projected to dominate Europe's lift and escalator market over the coming years. Because of its compact size, greater energy efficiency, and cutting-edge amenities, MRL lifts have become increasingly popular for both new and renovated buildings.
Report Coverage
Global Elevator and Escalator research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Elevator and Escalator report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Elevator and Escalator competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Elevator and Escalator market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | AIRBUS, Cobham SATCOM, ESS Weathertech, General Dynamics Mission Systems, Inc., Kongsberg Defense & Aerospace, Kratos Defense & Security Solutions, Inc., Lockheed Martin Corporation, Maxar Technologies, Mitsubishi Electric Corporation, Orbit Communications Systems Ltd., Safran, Schindler Group (Switzerland), Otis Elevator (US), Thyssenkrupp AG (Germany), KONE Corporation (Finland), and Hitachi Ltd. (Japan). |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Elevator and Escalator Market from 2021 to 2030.
- Market Forecast for Elevator and Escalator Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Elevator and Escalator competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Elevator and Escalator
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Elevator and Escalator market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Elevator and Escalator market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
AIRBUS, Cobham SATCOM, ESS Weathertech, General Dynamics Mission Systems, Inc., Kongsberg Defense & Aerospace, Kratos Defense & Security Solutions, Inc., Lockheed Martin Corporation, Maxar Technologies, Mitsubishi Electric Corporation, Orbit Communications Systems Ltd., Safran, Schindler Group (Switzerland), Otis Elevator (US), Thyssenkrupp AG (Germany), KONE Corporation (Finland), and Hitachi Ltd. (Japan).
Primary Target Market
- Market Players of Elevator and Escalator
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Elevator and Escalator market based on the below-mentioned segments:
Global Elevator and Escalator Market, By Type
Elevator
Escalator
Moving Walkways
Global Elevator and Escalator market, By Technology
Tractor Elevator
Machine Room-less Traction Elevator
Hydraulic
Global Elevator and Escalator Market, By End User
Residential
Commercial
Institutional Infrastructure
Global Elevator and Escalator market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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