Dublin, June 11, 2024 (GLOBE NEWSWIRE) -- The "Global Elevator & Escalator Market (by Service, Technology, Application & Region): Insights & Forecast (2024-2028)" report has been added to ResearchAndMarkets.com's offering.
The global elevator & escalator (E&E) market is likely to escalate to US$166.25 billion in 2028, progressing at a CAGR of 5.67% during the period spanning from 2024 to 2028.
The factors such as proliferation of construction activities, surging geriatric population, booming digitalization, ageing installed base of elevators and escalators and expanding urbanization would drive the growth of the market. However, the market growth would be challenged by high cost of installation and maintenance, compliance with standards and regulations and dearth of skilled workforce.
A few notable trends may include escalation in tourism activities, accelerating development of smart cities, growing penetration of novel technologies, expanding demand for energy efficient elevators and upsurge in verticalization of cities.
The global E&E market is categorized on the basis of service, technology and application. On the basis of service, the global market can be bifurcated into maintenance, new installation/equipment and modernization. According to the technology, the market can be categorized into machine room-less, hydraulic and traction. Whereas, in terms of applications, the global E&E market can be divided into residential, commercial and industrial & other application.
The fastest growing regional market was Asia Pacific due to rising investments in the construction industry and steady growth in infrastructure in both the residential and non-residential sectors, increasing shift towards eco-efficiency, flexible design, and safety and development of mega cities and infrastructure projects in developing countries such as Indonesia, India, China, and Philippines.
Scope of the report
- The report provides a comprehensive analysis of the global E&E market segmented on the basis of service, technology, application and region with potential impact of COVID-19.
- The major regional markets Asia Pacific, EMEA and Americas with focus on countries like China, Japan & Korea, Spain and the U.S. have been analyzed.
- The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
- The competitive landscape of the market, along with the company profiles of leading players (Hitachi, Ltd., ThyssenKrupp, Mitsubishi Electric Corporation, OTIS Worldwide Corporation, Kone and The Schindler Group) are also presented in detail.
Key Topics Covered:
1. Market Overview
1.1 Elevators & Escalators
1.2 Life Cycle of Elevators & Escalators
1.3 Supply Chain
1.4 Value Chain Analysis
2. Impact of COVID-19
2.1 Halt in Construction Activities
2.2 Decline in Global Real Estate Investment
2.3 Drop in Industrial Production
2.4 Instability in Trade Volume
2.5 Disruption of Supply Chain
3. Global Market Analysis
3.1 Global E&E Market by Value
3.2 Global E&E Market Forecast by Value
3.3 Global E&E Market by Service
3.4 Global E&E Maintenance Market
3.5 Global E&E New Equipment Market
3.6 Global E&E Modernization Market
3.7 Global E&E Market by Technology
3.8 Global E&E Market by Application
3.9 Global E&E Market Value by Region
4. Regional Market Analysis
4.1 Asia-Pacific
4.2 EMEA
4.3 Americas
5. Smart Elevator Market
5.1 Global Smart Elevator Market by Value
5.2 Global Smart Elevator Market Forecast by Value
5.3 Global Smart Elevator Market by End Users
5.4 Global Smart Elevator Market by Service
5.5 Asia-Pacific Smart Elevator Market
5.6 Asia Pacific Smart Elevator Market by Country
6. Market Dynamics
6.1 Growth Drivers
6.1.1 Proliferation of Construction Activities
6.1.2 Surging Geriatric Population
6.1.3 Booming Digitalization
6.1.4 Ageing Installed Base of Elevators and Escalators
6.1.5 Expanding Urbanization
6.2 Key Trends and Developments
6.2.1 Escalation in Tourism Activities
6.2.2 Accelerating Development of Smart Cities
6.2.3 Growing Penetration of Novel Technologies
6.2.4 Expanding Demand for Energy Efficient Elevators
6.2.5 Upsurge in Verticalization of Cities
6.3 Challenges
6.3.1 High Cost of Installation & Maintenance
6.3.2 Compliance with Standards and Regulations
6.3.3 Increasing Concerns about Elevator and Escalator Accidents
6.3.4 Dearth of Skilled Workforce
7. Competitive Landscape
7.1 Global Market
7.2 Asia-Pacific
7.3 EMEA
7.4 Americas
8. Company Profiles
- Hitachi, Ltd.
- Kone Oyj
- Mitsubishi Electric Corporation
- Otis Worldwide Corporation
- The Schindler Group
- ThyssenKrupp
For more information about this report visit https://www.researchandmarkets.com/r/1qq643
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
