Dublin, July 28, 2021 (GLOBE NEWSWIRE) -- The "United Kingdom Elevators and Escalators Market, By Type of Carriage (Passenger, Freight & Others), By Type Of Machinery (Traction & Hydraulic), By Type Of Door (Automatic & Manual), By End User, By Region, Competition, Forecast & Opportunities, 2016-2026" report has been added to ResearchAndMarkets.com's offering.
The United Kingdom Elevators and Escalators Market stood at USD 3168.47 million in 2020 and is forecast to grow at a CAGR of over 6.14% until 2026.
Growth in the United Kingdom Elevators and Escalators Market is driven by their widespread usage in residential, commercial, and industrial areas, including shopping malls, railway and metro stations, hotels, airports, public buildings, high-rise apartments, etc.
The market has been primarily swayed by rapid urbanization, substantial evolution of architecture and increased government initiatives for construction sector. The high demand for escalators is backed by the increase in the demand for better traffic management spaces and updated government standards for smart infrastructure.
Based on type of carriage, the market can be segmented into Passenger, Freight and Others. Passenger type of carriage dominated the market in 2020 due to the construction of many high-rise buildings in the country. Moreover, passenger type of carriage is also expected to witness growth as it is specifically designed for transporting passengers, with comprehensive safety measures and beautiful interior decoration.
Based on type of machinery, the market is segmented into Traction and Hydraulic. The Traction type of machinery dominated the market with a share of 78.45% in 2020 due its higher speed as compared to variant. Besides, the traction system finds application in tall, modern, new buildings as it is more energy-efficient as the counterweight balances the carload, whereas the hydraulic system needs to push the car against gravity and hence requires more energy.
Based on Type of Door, the market can be segmented into Automatic and Manual. The Automatic segment is expected to lead the market as they are cautiously designed to ensure safety for children, people with disabilities. Based on End-User, the market can be segmented into residential, commercial and industrial. The Residential Segment is expected to lead the market due to surge in high-rise buildings in the country.
Based on region, London held the largest share with around 42.26% share in the United Kingdom Elevators and Escalators Market in 2020 and the segment is expected to maintain the market dominance during the forecast period owing to the presence of major players and large urban population in the region.
Some of the major players in the United Kingdom Elevators and Escalators Market include Otis Elevator Company, Schindler Ltd UK, KONE PLC, ThyssenKrupp Elevators UK, ORONA UK, Fujitec UK Ltd., UK Lift & Escalator Company Ltd, Titan Elevators, LIFTKOM GB LIMITED, Kleemann Lifts UK Ltd.
Major companies are developing advanced technologies and launching new products to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments.
Report Scope:
Years considered for this report:
- Historical Years: 2016-2019
- Base Year: 2020
- Estimated Year: 2021E
- Forecast Period: 2022-2026F
United Kingdom Elevators and Escalators Market, By Type of Carriage:
- Passenger
- Freight
- Others
United Kingdom Elevators and Escalators Market, By Type of Machinery:
- Traction
- Hydraulic
United Kingdom Elevators and Escalators Market, By Type of Doors:
- Automatic
- Manual
United Kingdom Elevators and Escalators Market, By End-User:
- Residential
- Commercial
- Industrial
United Kingdom Elevators and Escalators Market, By Region:
- London
- North West
- South East
- East Angila
- Scotland
- West Midlands
- East Midlands
- Yorkshire and the Humberside
- North East
- South West
- Northern Ireland
- Wales
Competitive Landscape:
Company Profiles: Detailed analysis of the major companies present in the United Kingdom Elevators and Escalators Market.
- KONE PLC
- Schindler Ltd UK
- Otis Elevator Company
- ThyssenKrupp Elevators UK
- ORONA UK
- UK Lift & Escalator Company Ltd
- Titan Elevators
- Fujitec UK Ltd
- LIFTKOM GB LIMITED
- Kleemann Lifts UK Ltd
For more information about this report visit https://www.researchandmarkets.com/r/v14au3