Selbyville, Delaware, July 06, 2021 (GLOBE NEWSWIRE) -- According to credible sources, global elevator and escalator market share was valued at USD 76.23 billion in 2020 and is expected to register momentous growth over 2021-2026. Surging infrastructure and construction activities, increasing populace, coupled with advanced safety regulations are factors catalyzing this growth.
Additionally, the COVID-19 pandemic has wreaked havoc over the global economy, affecting the market sphere, dissection of which is provided in the report. Lastly, the documentation is prepared by adopting Porter's Five Force Model as well as the SWOT Analysis, incorporating both quantitative as well as qualitative aspects, which provides the stakeholders insights about the market space.
Moreover, initiatives in some countries to develop infrastructure projects and mega cities, rapid urbanization and industrialization, along with disruptions in technology such as machine room elevators, new belts & controllers, integration of circuit boards, and smart freight solutions are further augmenting the industry outlook.
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On the contrary, governmental measures to restrict the movement of people during the Covid-19 pandemic in order to check the spread, coupled with temporary shutdown of construction sites as well as limited manufacturing operations during the first half of 2020 hampered the growth of worldwide elevator and escalator industry.
Outline of market segmentation
Speaking of product type, the market is bifurcated into elevator, and escalator. Based on technology, the industry space is classified into hydraulic, and electric. In terms of service type, the business sphere is fragmented into maintenance, new installation, and modernization.
Based on end-user terrain, global elevator and escalator industry outlook is divided into commercial, residential, and others. The report cites that residential segment is slated to display impressive demand graph over the coming years, creditable to construction of new high-rises to accommodate rising populace and increasing urbanization.
Geographical landscape overview
Expert analysts claim that Asia Pacific market is anticipated to witness momentous growth during the analysis timeframe 2021-2026, owing to rapid infrastructural development in residential and non-residential sectors, as well as enormous investments in construction of megacities.
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Competitive Dashboard
Major industry players include Kone Oyj, Otis Worldwide Corporation, The Schindler Group, Fujitec Co. Ltd., Mitsubishi Electric Corporation, ThyssenKrupp Elevator, Orona S. Coop., Hitachi Ltd., Toshiba Corporation, and Hyundai Elevator Co. Ltd. among others.
Global Elevator and Escalator Market by Product Type (Revenue, USD Million, 2016-2026)
·Elevator
- Escalator
Global Elevator and Escalator Market by Service Type (Revenue, USD Million, 2016-2026)
- Modernization
- New Installation
- Maintenance
Global Elevator and Escalator Market by Technology (Revenue, USD Million, 2016-2026)
- Hydraulic
- Electric
Global Elevator and Escalator Market by End User (Revenue, USD Million, 2016-2026)
- Commercial
- Residential
- Others
Global Elevator and Escalator Market Regional Landscape (Revenue, USD Million, 2016-2026)
Europe
·Germany
·France
·Italy
Americas
·U.S.
·Canada
·Brazil
Asia Pacific
·India
·China
·Japan
·South Korea
Global Elevator and Escalator Market Competitive Arena (Revenue, USD Million, 2016-2026)
·Kone Oyj
- Otis Worldwide Corporation
- The Schindler Group
- Fujitec Co. Ltd.
- Mitsubishi Electric Corporation
- ThyssenKrupp Elevator
- Orona S. Coop.
- Hitachi Ltd.
- Toshiba Corporation
- Hyundai Elevator Co. Ltd
Table of Content:
1. Report Scope and Methodology
1.1 Scope of the Report
1.2 Research Methodology
1.3 Executive Summary
2. Strategic Recommendations
3. Elevator and Escalator Market: Product Overview
4. Global Elevator and Escalator Market: An Analysis (Value, Units)
4.1 Market Size, By Value, Year 2016-2026
4.2 Market Size, By Volume, Year 2016-2026
4.3 Impact of COVID-19 on Elevator and Escalator Market
4.4 Global Economic & Industrial Outlook
5. Global Elevator and Escalator Market Segmentation, By Product Type
5.1 Global Elevator and Escalator Market: Segment Analysis
5.2 Competitive Scenario of Elevator and Escalator Market: By Product Type (2020 & 2026)
5.3 By Elevator- Market Size and Forecast (2016-2026)
5.4 By Escalator- Market Size and Forecast (2016-2026)
6. Global Elevator and Escalator Market Segmentation, By Service Type
6.1 Global Elevator and Escalator Market: Segment Analysis
6.2 Competitive Scenario of Global Elevator and Escalator Market: By Service Type (2020 & 2026)
6.3 By New Installation- Market Size and Forecast (2016-2026)
6.4 By Maintenance- Market Size and Forecast (2016-2026)
6.5 By Modernization- Market Size and Forecast (2016-2026)
7. Global Elevator and Escalator Market Segmentation, By End User
7.1 Global Elevator and Escalator Market: Segment Analysis
7.2 Competitive Scenario of Global Elevator and Escalator Market: By End User (2020 & 2026)
7.3 By Residential- Market Size and Forecast (2016-2026)
7.4 By Commercial- Market Size and Forecast (2016-2026)
7.5 By Others- Market Size and Forecast (2016-2026)
8. Global Elevator and Escalator Market Segmentation, By Technology
8.1 Global Elevator and Escalator Market: Segment Analysis
8.2 Competitive Scenario of Elevator and Escalator Market: By Technology (2020 & 2026)
8.3 By Electric- Market Size and Forecast (2016-2026)
8.4 By Hydraulic- Market Size and Forecast (2016-2026)
9. Global Elevator and Escalator Market: Regional Analysis
9.1 Competitive Scenario of Global Elevator and Escalator Market: By Region (2020 & 2026)
10. Americas Elevator and Escalator Market: An Analysis (2016-2026)
10.1 Americas Elevator and Escalator Market by value: Size and Forecast (2016-2026)
10.2 Americas Economic and Industrial Outlook
10.3 Americas Elevator and Escalator Market: Prominent Companies
10.4 Market Segmentation By Product Type (Elevator, Escalator)
10.5 Market Segmentation By Service Type (New Installation, Modernization)
11. Europe Elevator and Escalator Market : An Analysis (2016-2026)
11.1 Europe Elevator and Escalator Market by value: Size and Forecast (2016-2026)
11.2 Europe Economic and Industrial Outlook
11.3 Europe Elevator and Escalator Market: Prominent Companies
11.4 Market Segmentation By Product Type (Elevator, Escalator)
11.5 Market Segmentation By Service Type (New Installation, Modernization)
12. Asia Pacific Elevator and Escalator Market : An Analysis (2016-2026)
12.1 Asia Pacific Elevator and Escalator Market by value: Size and Forecast (2016-2026)
12.2 Asia Pacific Economic and Industrial Outlook
12.3 Asia Pacific Elevator and Escalator Market: Prominent Companies
12.4 Market Segmentation By Product Type (Elevator, Escalator)
12.5 Market Segmentation By Service Type (New Installation, Modernization)
13. Global Elevator and Escalator Market Dynamics
13.1 Global Elevator and Escalator Market Drivers
13.2 Global Elevator and Escalator Market Restraints
13.3 Global Elevator and Escalator Market Trends
14. Market Attractiveness and Strategic Analysis
14.1 Market Attractiveness
14.1.1 Market Attractiveness Chart of Global Elevator and Escalator Market - By Product Type (Year 2026)
14.1.2 Market Attractiveness Chart of Global Elevator and Escalator Market - By Service Type (Year 2026)
14.1.3 Market Attractiveness Chart of Global Elevator and Escalator Market - By End User (Year 2026)
14.1.4 Market Attractiveness Chart of Global Elevator and Escalator Market - By Technology (Year 2026)
14.1.5 Market Attractiveness Chart of Global Elevator and Escalator Market - By Region (Year 2026)
15. Competitive Landscape
Related Report:
Asia Pacific Elevator Market Size By End-user, By Product, Research Report, Country Outlook, Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2021 - 2027
The commendable resilience of the construction industry in Asia during the COVID-19 pandemic has been promising continuous growth for APAC elevator market outlook. The growing need for repair and maintenance activities across China, India, Malaysia, Singapore, and Indonesia is setting the scene for high growth. With the residential sector witnessing high demand for new apartments, homes, skyscrapers, and smart cities through the pandemic, the market scenario is benefiting from the rising rate of urbanization across towns and cities.
Asia Pacific elevator market share is expected to reach $73.4 billion by 2027 as the machines are extensively used for moving vertically across a facility or building, transporting goods and people from floor to floor. Different types of elevators are used by construction companies depending on application. These include hydraulic elevators, machine room-less (MRL) traction elevators, pneumatic elevators, traction elevators, machine room traction elevators (MR), climbing elevators, dumbwaiter, paternoster, and inclined elevators among others.
View Full Report: https://www.marketstudyreport.com/reports/asia-pacific-elevator-market-statistics
Europe Elevator Market Size By End-user, By Product, Research Report, Country Outlook, Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2021 - 2027
The Europe elevator market is projected to witness a profitable growth spurt over the forthcoming time period owing to the ongoing proliferation of building and construction sector as more and more high-rises are being erected across the continent. On a global scale, Europe accounts for the second-largest share of the overall elevator market.
Increasing number of high-rise buildings in the developing economies are greatly up to the regional growth. Countries including Russia, Spain, Italy, UK, and Germany have in fact experienced an unparalleled increase in skyscraper construction projects over the last few years. This growth is majorly ascribed to factors such as rapid urbanization, high per capita income, and increasing construction spending in these countries.
Subsequently, growing demand for elevator maintenance, service, and repair will also stimulate the market growth. Favorable government efforts towards economic development are another of the prominent key parameters for growing number of infrastructure activities. Increasing construction of institutional, commercial, and residential buildings across Europe would also fuel the adoption of elevators.
View Full Report: https://www.marketstudyreport.com/reports/europe-elevator-market-statistics
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