Dublin, July 13, 2021 (GLOBE NEWSWIRE) -- The "Elevators and Escalators - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Elevators and Escalators Market to Reach $80.1 Billion by 2027
Amid the COVID-19 crisis, the global market for Elevators and Escalators estimated at US$66 Billion in the year 2020, is projected to reach a revised size of US$80.1 Billion by 2027, growing at a CAGR of 2.8% over the period 2020-2027.
Elevators, one of the segments analyzed in the report, is projected to record 2.9% CAGR and reach US$72.6 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Escalators segment is readjusted to a revised 2.3% CAGR for the next 7-year period.
The U.S. Market is Estimated at $7.1 Billion, While China is Forecast to Grow at 3.4% CAGR
The Elevators and Escalators market in the U.S. is estimated at US$7.1 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$20.5 Billion by the year 2027 trailing a CAGR of 3.4% over the analysis period 2020 to 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2% and 2.6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 2.2% CAGR.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of Covid-19 and a Looming Global Recession
- A Prelude to Elevators and Escalators
- Elevators
- Escalators
- Elevators and Escalators: Current Market Scenario and Outlook
- Growth Drivers in a Nutshell
- Mega Trends Benefiting E&E Demand Summarized
- Key Factors Influencing Market Growth: Ranked in the Order of Importance
- Developing Countries Dominate New Installations and Spearhead Market Growth
- Recent Market Activity
- Competitive Landscape
- Competition: Noteworthy Trends
- What Does It Take to Survive in the Marketplace?
- Key Challenges Hampering Profitability of Market Participants
- Online Marketplace: The New Distribution Vertical
- Select Innovations & Advancements
2. FOCUS ON SELECT PLAYERS(Total 114 Featured)
- Canny Elevator Co., Ltd.
- Fujitec Co., Ltd.
- Hitachi Ltd.
- Hyundai Elevators Co., Ltd.
- Johnson Lifts Private Limited
- Kleemann Hellas S.A.
- KONE Oyj
- Mitsubishi Electric Corporation
- Shanghai Mitsubishi Elevator Co., Ltd. (SMEC)
- Otis Elevator Company
- Otis Electric Elevator Co., Ltd.
- Sigma Elevator Company Limited
- Savaria Corporation
- Schindler Group
- SJEC Corporation
- ThyssenKrupp Elevator AG
- Toshiba Elevator and Building Systems Corporation
- Yungtay Engineering Co. Ltd.
3. MARKET TRENDS & DRIVERS
- Smart Elevators & Escalators Come to the Fore Offering New Level of Performance
- Growth Drivers Summarized
- Smart, Intelligent Elevators with Connected Technologies
- Upcoming Smart Cities to Fuel Large-Scale Adoption of Smart Elevators and Escalators
- Innovations Make Vertical Transportation Intelligent, Faster, Safer and More Comfortable
- Faster Moving, High-Speed Elevators: The Essential Requirement for Modern Skyscrapers
- Elevators to Attain New Heights of Sustainability amidst Rising Environmental Awareness
- Building Developers Emphasize High-Quality Elevators to Improve Operational Efficiency & Sustainability
- Recent Sustainability Initiatives of Vertical Transit System Manufacturers
- Advanced Technology to Enable Sustainable Systems
- The 'Green Infrastructure' Trend & Favorable Regulations Spur Demand for 'Green' Elevators
- Elevator Technologies for "Green" Buildings
- Urbanization Drive: Prime Factor Steering Momentum in the E&E Market
- Select Mega-Urban Regions Worldwide (2035*)
- IoT, AI & Other New Generation Digital Technologies to Transform Functionality and Efficiency of Modern Elevators
- Digitalization Aids Progressive Enhancements
- Modernization Initiatives and Replacement Demand Steer Overall Growth in E&E Market
- Massive Investments on High Rise Buildings & Skyscrapers Accelerate Market Growth
- Shift in the World's Tallest Buildings from Western Countries to Developing Countries
- China Leads Skyscraper Projects Worldwide
- Enhanced Child Security: Need of the Hour
- Aesthetics: An Essential Factor Aiding Market Growth
- Maintenance: The Segment with the Highest Growth Potential
- Elevator Maintenance: Past, Present, and the Future
- Escalator and Elevator Maintenance Gets an "Intelligent" Makeover
- In-home Elevators Grow in Popularity
- Population Growth, Expanding Middle Class, and Rising Living Standards Strengthen Market Prospects
- Aging Population: A Weighty Growth Driver
- Burgeoning Middle Class
- Rising Standards of Living
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
- UNITED STATES
- Construction Activity Drives Market Growth
- Growing Prominence of Smart Homes Benefit Demand for Smart Elevators
- Aging Installed Base and Focus on Energy Efficient Green Infrastructure to Drive Replacement Demand
- JAPAN
- Disaster Recovery Efforts Drive Housing and E&E Market Growth
- Growing Preference for High-Speed Elevators Benefits Market Expansion
- Smart Elevators to Detect Seismic Activity
- Toilets to Soon Be Part of Japanese Elevators
- CHINA
- Need to Support Increasing Urban Density Drives Strong Growth in Demand
- China: The World's Largest Construction Market Represents a Major Market for Elevators and Escalators
- The Race for Installing the Fastest Elevators Shift to China
- Competitive Landscape
- EUROPE
- Europe: A Mature yet Growing Market for Elevators and Escalators
- One of the Leading Smart Elevators Markets in the World
- Aging Elevators & Escalators Shift Focus on Modernization
- GERMANY
- Growing Popularity of Smart Elevators Augurs Well for the Market
- Focus on Addressing Vertical Transportation Needs of Smart Buildings and Structures Drive Market Growth
- Launch of Cable-Free Vertically and Horizontally Moving Elevator System in Germany
- Local Small and Medium-sized Enterprises (SMEs) Dominate E&E Market
- UNITED KINGDOM
- Construction Activity Promotes Market Demand
- Growing Affluent Aging Populace Spurs Demand for Incline Elevators, Stairlifts, and Home Lifts
- SPAIN
- Replacement and Modernization of Aged Installed Elevators to Sustain Market Growth
- AUSTRALIA
- A Growing Market for Elevators and Escalators
- INDIA
- Increasing Number of High-Rise Buildings in Mushrooming Mega Cities Drive Demand
- Machine Room-Less (MRL) and Gearless Elevators Grow in Preference over Conventional Elevators
- Growing Demand for Smart Elevators Bodes Well for the Market
- Competitive Landscape
- SOUTH KOREA
- The Well-Penetrated Market Focus on Energy Efficiency and Eco-Friendliness
IV. COMPETITION
- Total Companies Profiled: 114
For more information about this report visit https://www.researchandmarkets.com/r/tb94e4