Elevators Market
Elevators Market Analysis by Single Deck Elevators and Double Deck Elevators from 2023 to 2033
Analysis of Elevators Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Elevators Market Outlook (2023 to 2033)
The global elevators market is valued at US$ 95 billion in 2023 and is expected to reach US$ 270 billion by 2033-end. The market is forecasted to increase at a high-value CAGR of 11% from 2023 to 2033.
- Global demand for elevators is being driven by an increase in smart elevator introductions. Smart elevators with IoT integration anticipate traffic and respond quickly.
Elevators are usually placed in multi-storey buildings to aid with accessibility requirements for wheelchairs and travel assistance. In the construction sector, elevators are primarily used to move people from one floor to another and to transport products.
The market is being primarily driven by expanding infrastructure, rising economic circumstances, and growing population. The market for smart elevators is growing as a result of technological advancements. Another reason for the rising need for smart elevators is rapid urbanization.
Elevators are predicted to become more popular as a result of increased construction investments worldwide due to economic and industrial development and an expanding population. Global demand for elevators in commercial buildings is expected to rise as a result of an increase in large-scale infrastructure investment projects, such as hotels and hospitals
It is anticipated that the increased demand for single-family residences and the expanding purchasing power of consumers would encourage the use of elevators in residential building development. Elevator manufacturers are producing energy-efficient elevators for high-rise buildings and adding smart controls, hardware, and other low-energy technologies.
Modern elevators can be used in a variety of settings, such as ships, dams, and specialized buildings such as rocket launchers. They can also be used to move both people and products.
Some benefits of hydraulic elevators include low civil engineering requirements, great security, and exceptional shaft usage. Government initiatives for infrastructure projects, including dams, bridges, roads, schools, airports, and many more, are expected to boost market growth in emerging economies.
Rapid urbanization and the resulting proliferation of multi-storey buildings will continue to intensify the demand for elevators. Growing investments in building and construction projects are likely to boost the sales of elevators. A focus on upgrading the infrastructure of industrial, commercial, and residential spaces is likely to fuel market expansion. Escalating demand for elevators from industrial units for seamless transportation of heavy loads to various floors is expected to boost market revenue over the coming years.
| Report Attributes | Details |
|---|---|
| Elevators Market Size (2023) | US$ 95 Billion |
| Projected Market Value (2033) | US$ 270 Billion |
| Global Market Growth Rate (2023 to 2033) | 11% CAGR |
| Market Share of Smart Elevators (2023) | 60% |
| Key Companies Profiled | Mitsubishi Electric Corporation; KONE Oyj; The Schindler Group; Fujitec; Hitachi Ltd.; Hyundai Elevator; Canny Elevator; Orona |
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Which are the Growth Determinants of the Elevators Market?
“New Developments in Energy-efficient Elevators”
The development of energy-efficient elevators is a top priority for elevator manufacturers. These elevators are more energy-efficient, smaller, and have improved hardware controls.
Elevator component manufacturers are creating cable-free elevators that can move both vertically and horizontally. Elevators without cables are more environmentally friendly and have a significantly lower carbon footprint. Also, a significant development in elevators is the incorporation of communication technology and internet functions, which provide improved security, energy efficiency, and notifications about impending maintenance.
“Rapid Integration of Advanced Digitally-linked technologies”
An important trend gaining traction in the elevator industry is product innovation. To maintain their market share, major players in the lift and escalator industry are putting their efforts into creating cutting-edge digitally linked technologies. The management of various devices, apps, and services, as well as their integration with new and current systems, is made easy by the use of open application programming interfaces (APIs).
“Rising Adoption of Green Building Materials”
The demand for green, ecologically friendly products has surged as a result of growing environmental concerns. Customers' demands for value-added items for escalators, elevators, and moving walkways are gradually evolving to include high-end green building materials.
Green building materials have the potential to drastically cut emissions. These materials help to lower the environmental impact, achieve sustainability, reduce emissions, and conserve energy. Hence, the adoption of green building standards and energy-efficient products will increase the profitability of market prospects throughout the projection period.
How is Industry Growth Being Restrained to Some Extent?
“High Installation and Maintenance Costs of Elevators”
Strict government policies and regulations have been put in place to administer safety and security in elevators. Ensuring conformity to the policies and regulations will continue to exert high pressure on companies.
Over-the-top demand for top-notch assistance and instant reverts to repairs, replacements, and queries are also posing considerable challenges for companies in terms of keeping up with ever-evolving customer expectations. Lack of skilled workforce and growing concerns about elevator accidents are restraining market growth.
The cost of installation is quite high in the elevator sector. For elevators to operate correctly, periodic maintenance and repairs are necessary. The cost of these maintenance tasks may be several times that of the initial purchase. According to the latest pricing trends, the high installation and maintenance costs of elevators will therefore be a significant barrier to industry revenue.
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How are Start-ups Carving a Space for Themselves in This Industry?
“Emerging Market Players Concentrating on Introduction of Unique Products and Solutions”
New entrants are embracing advanced technology to introduce unique products and solutions due to the rising demand for advanced integrated products. Start-ups are integrating new technologies such as cloud computing, artificial intelligence (AI) and the Internet of Things (IoT) into practice through research and development operations.
- A start-up based in the United States, Lift AI, offers a platform for AI-powered lift monitoring for the commercial estate and elevator industries. Remote monitoring has the potential to have a big, beneficial influence on the elevator business when used properly. By using this platform, property owners may boost lift uptime while minimizing liability, and data may be sent to certified technicians to enable more efficient maintenance.
Which Region Accounts for a Leading Position in the Global Market?
“Rapid Development and Expansion of High-rise Structures in Asia Pacific”
- Asia Pacific accounts for 50% share of the global market at present.
Increasing focus on infrastructure development and rapid urbanization across developing economies are driving market expansion in the region. Rapid development and expansion of high-rise structures, a rise in efforts by key market players to create a reliable supply chain, and easy accessibility of raw resources are supporting market growth.
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Country-wise Insights
Why is the United States a Profitable Market for Elevator Manufacturers?
“Continuous Increase in Construction Activities”
The market in the United States is projected to expand over the coming years due to an increase in construction activities such as building renovations. Rapid growth of the IoT sector, rising adoption of contactless elevators, and the presence of a highly developed industrial sector are boosting market value in the country. A rise in residential and commercial complexes is stimulating market revenue.
What is the Market Outlook for Elevators in Germany?
“Increase in Government Initiatives Involving Repair of Old Buildings for Public Safety”
Growing geriatric population and an increase in people with disabilities are the key factors boosting the demand for elevators in Germany. Market demand is boosted by a rise in the construction of retail malls and multiplex buildings, an increase in government initiatives involving the repair of old buildings for public safety, and the presence of technologically advanced infrastructure.
Why are Producers of Elevators Eyeing Japan?
“Huge Demand for Mid-rise Elevators”
A rise in the local supply of single-deck elevators, supportive government policies, and the rapid implementation of IoT in elevators are driving market growth in Japan. The market is driven by rising disposable income, shifting lifestyles, and huge demand for mid-rise elevators such as traction elevators.
Category-wise Insights
Why are Smart Elevators Expected to Exhibit High Demand?
“Smart Elevators Gaining Traction Owing to Their High-end Security and Better Crowd Management”
By destination control, the market is segmented into smart elevators and conventional elevators
- Smart elevators account for 60% share of the global market.
Demand for connected and smart elevators is on the rise, as end-users show high enthusiasm to explore beyond conventional elevator technologies. The market is witnessing considerable interest in smart elevators that offer high-end security, enhanced energy efficiency, effective crowd management, and ultra-speed operation. This evolution of smart elevators can be attributed to the sheer proliferation of artificial intelligence across a wide spectrum of applications.
Increasing need for cable-free lifts that move effortlessly across both vertical and horizontal lines is fueling the demand for smart elevators. Sensing end-user demand in this direction, manufacturers are focusing on the development of smart elevators with interactive touch panels, intuitive technologies, and cloud-predictive maintenance. End users are on the constant lookout for elevator solutions that are highly efficient, effective, and engaging, which is further boosting the demand for smart elevators.
Which End Use Will Bring in High Revenue Streams?
“Growing Investments in Office Spaces Driving Demand for Elevators in Commercial Sector”
The market is classified into commercial, residential, and mix blocks based on end use. Elevators are widely used in commercial buildings, including shopping malls, office buildings, and co-working spaces. The commercial sector is being driven by the rising trend for eco-efficiency, flexible design, and safety.
Train stations, apartment complexes, hospitals, metro stations, shopping malls, office buildings, schools, and airports are among the places where elevators are extensively installed. The need for numerous co-working spaces is increasing due to the rise in self-employment. Thus, growing investments in office spaces are anticipated to support market expansion over the coming years.
Competitive Landscape
Key producers of elevators are focusing on strategic initiatives, including mergers and acquisitions, product standards, quality control, collaborations, facility development, and supply chain management, to get a competitive edge. They are making significant R&D investments to introduce new products while following safety regulations and increasing their market share in the elevators industry.
Major businesses are using the approach of acquiring small regional businesses to improve their service offerings and expand their domestic presence. Leading companies are also concentrating on IoT integration since it enables greater data collection, sharing, and analysis by manufacturers and product operators.
For instance :
- Mitsubishi Electric will increase its footprint in Florida by establishing a new location in Miami.
- Otis Elevator Corporation expanded its popular Gen2 series of elevators by launching the Gen2 Elevator for the global high-rise market.
- In 2021, Schindler and CitizenM hotels entered into a partnership arrangement to maintain and update the escalators and elevators in all of the group's current properties.
Key Segments of Elevators Industry Research
-
By Deck Type :
- Single Deck
- Double Deck
-
By Building Height :
- Low Rise
- High Rise
- Mid Rise
-
By Speed :
- Less than 1 m/s
- Between 1 to 3 m/s
- Between 4 to 6 m/s
- Between 7 to 10 m/s
- Above 10 m/s
-
By Destination Control :
- Smart
- Conventional
-
By Application :
- Passengers
- Freight
-
By End Use :
- Commercial
- Residential
- Mix Blocks
-
By Region :
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Table of Content
- 1. Executive Summary
- 2. Market Overview
- 3. Key Market Trends
- 4. Market Background
- 5. Global Market Demand Volume (‘000 Units) Analysis 2018 to 2022 Forecast, 2023 to 2033
- 6. Global Market - Pricing Analysis
- 7. Global Market Demand (US$ Bn) Analysis 2018 to 2022 and Forecast, 2023 to 2033
- 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Deck Type
- 8.1. Single Deck
- 8.2. Double Deck
- 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Building Height
- 9.1. Low Rise
- 9.2. Mid Rise
- 9.3. High Rise
- 10. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Speed
- 10.1. Less than 1 m/s
- 10.2. Between 1 to 3 m/s
- 10.3. Between 4 to 6 m/s
- 10.4. Between 7 to 10 m/s
- 10.5. Above 10 m/s
- 11. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Destination Control
- 11.1. Smart
- 11.2. Conventional
- 12. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by End-Use
- 12.1. Commercial
- 12.2. Residential
- 12.3. Mix Block
- 13. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Application
- 13.1. Passenger
- 13.2. Freight
- 14. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Region
- 14.1. North America
- 14.2. Latin America
- 14.3. Europe
- 14.4. Asia Pacific
- 14.5. Middle East & Africa (MEA)
- 15. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033
- 16. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033
- 17. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033
- 18. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033
- 19. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033
- 20. China Market Analysis 2018 to 2022 and Forecast 2023 to 2033
- 21. India Market Analysis 2018 to 2022 and Forecast 2023 to 2033
- 22. Competition Analysis
- 22.1. Otis Company
- 22.2. KONE OYJ
- 22.3. Schindler
- 22.4. Fujitec
- 22.5. Hitachi Ltd.
- 22.6. Hyundai Elevator
- 22.7. Electra Elevator
- 22.8. Mitsubishi Electric Corporation
- 22.9. Thyssenkrupp AG
- 22.10. Toshiba
- 23. Assumptions and Acronyms Used
- 24. Research Methodology
List Of Table
Table 01: Global Market Value (US$ Bn) and Volume ('000 Units) by Deck Type 2023 to 2033
Table 02: Global Market Value (US$ Bn) and Volume ('000 Units) by Building Height 2023 to 2033
Table 03: Global Market Value (US$ Bn) and Volume ('000 Units) by Speed 2023 to 2033
Table 04: Global Market Value (US$ Bn) and Volume ('000 Units) by Destination Control 2023 to 2033
Table 05: Global Market Value (US$ Bn) and Volume ('000 Units) by End-Use 2023 to 2033
Table 06: Global Market Value (US$ Bn) and Volume ('000 Units) by Application 2023 to 2033
Table 07: Global Market Value (US$ Bn) and Volume ('000 Units) by Region 2023 to 2033
Table 08: North America Market Value (US$ Bn) and Volume ('000 Units) by Deck Type 2023 to 2033
Table 09: North America Market Value (US$ Bn) and Volume ('000 Units) by Building Height 2023 to 2033
Table 10: North America Market Value (US$ Bn) and Volume ('000 Units) by Speed 2023 to 2033
Table 11: North America Market Value (US$ Bn) and Volume ('000 Units) by Destination Control 2023 to 2033
Table 12: North America Market Value (US$ Bn) and Volume ('000 Units) by End-Use 2023 to 2033
Table 13: North America Market Value (US$ Bn) and Volume ('000 Units) by Application 2023 to 2033
Table 14: North America Market Value (US$ Bn) and Volume ('000 Units) by Countries 2023 to 2033
Table 15: Latin America Market Value (US$ Bn) and Volume ('000 Units) by Deck Type 2023 to 2033
Table 16: Latin America Market Value (US$ Bn) and Volume ('000 Units) by Building Height 2023 to 2033
Table 17: Latin America Market Value (US$ Bn) and Volume ('000 Units) by Speed 2023 to 2033
Table 18: Latin America Market Value (US$ Bn) and Volume ('000 Units) by Destination Control 2023 to 2033
Table 19: Latin America Market Value (US$ Bn) and Volume ('000 Units) by End-Use 2023 to 2033
Table 20: Latin America Market Value (US$ Bn) and Volume ('000 Units) by Application 2023 to 2033
Table 21: Latin America Market Value (US$ Bn) and Volume ('000 Units) by Countries 2023 to 2033
Table 22: Europe Market Value (US$ Bn) and Volume ('000 Units) by Deck Type 2023 to 2033
Table 23: Europe Market Value (US$ Bn) and Volume ('000 Units) by Building Height 2023 to 2033
Table 24: Europe Market Value (US$ Bn) and Volume ('000 Units) by Speed 2023 to 2033
Table 25: Europe Market Value (US$ Bn) and Volume ('000 Units) by Destination Control 2023 to 2033
Table 26: Europe Market Value (US$ Bn) and Volume ('000 Units) by End-Use 2023 to 2033
Table 27: Europe Market Value (US$ Bn) and Volume ('000 Units) by Application 2023 to 2033
Table 28: Europe Market Value (US$ Bn) and Volume ('000 Units) by Countries 2023 to 2033
Table 29: Asia Pacific Market Value (US$ Bn) and Volume ('000 Units) by Deck Type 2023 to 2033
Table 30: Asia Pacific Market Value (US$ Bn) and Volume ('000 Units) by Building Height 2023 to 2033
Table 31: Asia Pacific Market Value (US$ Bn) and Volume ('000 Units) by Speed 2023 to 2033
Table 32: Asia Pacific Market Value (US$ Bn) and Volume ('000 Units) by Destination Control 2023 to 2033
Table 33: Asia Pacific Market Value (US$ Bn) and Volume ('000 Units) by End-Use 2023 to 2033
Table 34: Asia Pacific Market Value (US$ Bn) and Volume ('000 Units) by Application 2023 to 2033
Table 35: Asia Pacific Market Value (US$ Bn) and Volume ('000 Units) by Countries 2023 to 2033
Table 36: MEA Market Value (US$ Bn) and Volume ('000 Units) by Deck Type 2023 to 2033
Table 37: MEA Market Value (US$ Bn) and Volume ('000 Units) by Building Height 2023 to 2033
Table 38: MEA Market Value (US$ Bn) and Volume ('000 Units) by Speed 2023 to 2033
Table 39: MEA Market Value (US$ Bn) and Volume ('000 Units) by Destination Control 2023 to 2033
Table 40: MEA Market Value (US$ Bn) and Volume ('000 Units) by End-Use 2023 to 2033
Table 41: MEA Market Value (US$ Bn) and Volume ('000 Units) by Application 2023 to 2033
Table 42: MEA Market Value (US$ Bn) and Volume ('000 Units) by Countries 2023 to 2033
Table 43: CHINA Market Value (US$ Bn) and Volume ('000 Units) by Deck Type 2023 to 2033
Table 44: CHINA Market Value (US$ Bn) and Volume ('000 Units) by Building Height 2023 to 2033
Table 45: CHINA Market Value (US$ Bn) and Volume ('000 Units) by Speed 2023 to 2033
Table 46: CHINA Market Value (US$ Bn) and Volume ('000 Units) by Destination Control 2023 to 2033
Table 47: CHINA Market Value (US$ Bn) and Volume ('000 Units) by End-Use 2023 to 2033
Table 48: CHINA Market Value (US$ Bn) and Volume ('000 Units) by Application 2023 to 2033
Table 49: INDIA Market Value (US$ Bn) and Volume ('000 Units) by Deck Type 2023 to 2033
Table 50: INDIA Market Value (US$ Bn) and Volume ('000 Units) by Building Height 2023 to 2033
Table 51: INDIA Market Value (US$ Bn) and Volume ('000 Units) by Speed 2023 to 2033
Table 52: INDIA Market Value (US$ Bn) and Volume ('000 Units) by Destination Control 2023 to 2033
Table 53: INDIA Market Value (US$ Bn) and Volume ('000 Units) by End-Use 2023 to 2033
Table 54: INDIA Market Value (US$ Bn) and Volume ('000 Units) by Application 2023 to 2033
List Of Figures
FIGURE 01: Global Market Size and Volume, 2018 to 2022
FIGURE 02: Global Market Value and Volume Y-o-Y Growth Comparison, 2018 to 2033
FIGURE 03: Global Market Size and Volume, 2023 to 2033
FIGURE 04: Global Market Value Share Analysis, by Deck Type, 2018, 2023 & 2033
FIGURE 05: Global Market Attractiveness Analysis, by Deck Type, 2023 & 2033
FIGURE 06: Global Market Value Share Analysis, by Building Height, 2018, 2023 & 2033
FIGURE 07: Global Market Attractiveness Analysis, by Building Height, 2023 & 2033
FIGURE 08: Global Market Value Share Analysis, by Speed, 2018, 2023 & 2033
FIGURE 09: Global Market Attractiveness Analysis, by Speed, 2023 & 2033
FIGURE 10: Global Market Value Share Analysis, by Destination Control, 2018, 2023 & 2033
FIGURE 11: Global Market Attractiveness Analysis, by Destination Control, 2023 & 2033
FIGURE 12: Global Market Value Share Analysis, by End-Use, 2018, 2023 & 2033
FIGURE 13: Global Market Attractiveness Analysis, by End-Use, 2023 & 2033
FIGURE 14: Global Market Value Share Analysis, by Application, 2018, 2023 & 2033
FIGURE 15: Global Market Attractiveness Analysis, by Application, 2023 & 2033
FIGURE 16: Global Market Value Share Analysis, by Region, 2018, 2023 & 2033
FIGURE 17: Global Market Attractiveness Analysis, by Region, 2023 & 2033
FIGURE 18: North America Market Value Share Analysis, by Deck Type, 2018, 2023 & 2033
FIGURE 19: North America Market Attractiveness Analysis, by Deck Type, 2023 & 2033
FIGURE 20: North America Market Value Share Analysis, by Building Height, 2018, 2023 & 2033
FIGURE 21: North America Market Attractiveness Analysis, by Building Height, 2023 & 2033
FIGURE 22: North America Market Value Share Analysis, by Speed, 2018, 2023 & 2033
FIGURE 23: North America Market Attractiveness Analysis, by Speed, 2023 & 2033
FIGURE 24: North America Market Value Share Analysis, by Destination Control, 2018, 2023 & 2033
FIGURE 25: North America Market Attractiveness Analysis, by Destination Control, 2023 & 2033
FIGURE 26: North America Market Value Share Analysis, by End-Use, 2018, 2023 & 2033
FIGURE 27: North America Market Attractiveness Analysis, by End-Use, 2023 & 2033
FIGURE 28: North America Market Value Share Analysis, by Application, 2018, 2023 & 2033
FIGURE 29: North America Market Attractiveness Analysis, by Application, 2023 & 2033
FIGURE 30: North America Market Value Share Analysis, by Country, 2018, 2023 & 2033
FIGURE 31: North America Market Attractiveness Analysis, by Country, 2023 & 2033
FIGURE 32: Latin America Market Value Share Analysis, by Deck Type, 2018, 2023 & 2033
FIGURE 33: Latin America Market Attractiveness Analysis, by Deck Type, 2023 & 2033
FIGURE 34: Latin America Market Value Share Analysis, by Building Height, 2018, 2023 & 2033
FIGURE 35: Latin America Market Attractiveness Analysis, by Building Height, 2023 & 2033
FIGURE 36: Latin America Market Value Share Analysis, by Speed, 2018, 2023 & 2033
FIGURE 37: Latin America Market Attractiveness Analysis, by Speed, 2023 & 2033
FIGURE 38: Latin America Market Value Share Analysis, by Destination Control, 2018, 2023 & 2033
FIGURE 39: Latin America Market Attractiveness Analysis, by Destination Control, 2023 & 2033
FIGURE 40: Latin America Market Value Share Analysis, by End-Use, 2018, 2023 & 2033
FIGURE 41: Latin America Market Attractiveness Analysis, by End-Use, 2023 & 2033
FIGURE 42: Latin America Market Value Share Analysis, by Application, 2018, 2023 & 2033
FIGURE 43: Latin America Market Attractiveness Analysis, by Application, 2023 & 2033
FIGURE 44: Latin America Market Value Share Analysis, by Country, 2018, 2023 & 2033
FIGURE 45: Latin America Market Attractiveness Analysis, by Country, 2023 & 2033
FIGURE 46: Europe Market Value Share Analysis, by Deck Type, 2018, 2023 & 2033
FIGURE 47: Europe Market Attractiveness Analysis, by Deck Type, 2023 & 2033
FIGURE 48: Europe Market Value Share Analysis, by Building Height, 2018, 2023 & 2033
FIGURE 49: Europe Market Attractiveness Analysis, by Building Height, 2023 & 2033
FIGURE 50: Europe Market Value Share Analysis, by Speed, 2018, 2023 & 2033
FIGURE 51: Europe Market Attractiveness Analysis, by Speed, 2023 & 2033
FIGURE 52: Europe Market Value Share Analysis, by Destination Control, 2018, 2023 & 2033
FIGURE 53: Europe Market Attractiveness Analysis, by Destination Control, 2023 & 2033
FIGURE 54: Europe Market Value Share Analysis, by End-Use, 2018, 2023 & 2033
FIGURE 55: Europe Market Attractiveness Analysis, by End-Use, 2023 & 2033
FIGURE 56: Europe Market Value Share Analysis, by Application, 2018, 2023 & 2033
FIGURE 57: Europe Market Attractiveness Analysis, by Application, 2023 & 2033
FIGURE 58: Europe Market Value Share Analysis, by Country, 2018, 2023 & 2033
FIGURE 59: Europe Market Attractiveness Analysis, by Country, 2023 & 2033
FIGURE 60: Asia Pacific Market Value Share Analysis, by Deck Type, 2018, 2023 & 2033
FIGURE 61: Asia Pacific Market Attractiveness Analysis, by Deck Type, 2023 & 2033
FIGURE 62: Asia Pacific Market Value Share Analysis, by Building Height, 2018, 2023 & 2033
FIGURE 63: Asia Pacific Market Attractiveness Analysis, by Building Height, 2023 & 2033
FIGURE 64: Asia Pacific Market Value Share Analysis, by Speed, 2018, 2023 & 2033
FIGURE 65: Asia Pacific Market Attractiveness Analysis, by Speed, 2023 & 2033
FIGURE 66: Asia Pacific Market Value Share Analysis, by Destination Control, 2018, 2023 & 2033
FIGURE 67: Asia Pacific Market Attractiveness Analysis, by Destination Control, 2023 & 2033
FIGURE 68: Asia Pacific Market Value Share Analysis, by End-Use, 2018, 2023 & 2033
FIGURE 69: Asia Pacific Market Attractiveness Analysis, by End-Use, 2023 & 2033
FIGURE 70: Asia Pacific Market Value Share Analysis, by Application, 2018, 2023 & 2033
FIGURE 71: Asia Pacific Market Attractiveness Analysis, by Application, 2023 & 2033
FIGURE 72: Asia Pacific Market Value Share Analysis, by Country, 2018, 2023 & 2033
FIGURE 73: Asia Pacific Market Attractiveness Analysis, by Country, 2023 & 2033
FIGURE 74: MEA Market Value Share Analysis, by Deck Type, 2018, 2023 & 2033
FIGURE 75: MEA Market Attractiveness Analysis, by Deck Type, 2023 & 2033
FIGURE 76: MEA Market Value Share Analysis, by Building Height, 2018, 2023 & 2033
FIGURE 77: MEA Market Attractiveness Analysis, by Building Height, 2023 & 2033
FIGURE 78: MEA Market Value Share Analysis, by Speed, 2018, 2023 & 2033
FIGURE 79: MEA Market Attractiveness Analysis, by Speed, 2023 & 2033
FIGURE 80: MEA Market Value Share Analysis, by Destination Control, 2018, 2023 & 2033
FIGURE 81: MEA Market Attractiveness Analysis, by Destination Control, 2023 & 2033
FIGURE 82: MEA Market Value Share Analysis, by End-Use, 2018, 2023 & 2033
FIGURE 83: MEA Market Attractiveness Analysis, by End-Use, 2023 & 2033
FIGURE 84: MEA Market Value Share Analysis, by Application, 2018, 2023 & 2033
FIGURE 85: MEA Market Attractiveness Analysis, by Application, 2023 & 2033
FIGURE 86: MEA Market Value Share Analysis, by Country, 2018, 2023 & 2033
FIGURE 87: MEA Market Attractiveness Analysis, by Country, 2023 & 2033
FIGURE 88: CHINA Market Value Share Analysis, by Deck Type, 2018, 2023 & 2033
FIGURE 89: CHINA Market Attractiveness Analysis, by Deck Type, 2023 & 2033
FIGURE 90: CHINA Market Value Share Analysis, by Building Height, 2018, 2023 & 2033
FIGURE 91: CHINA Market Attractiveness Analysis, by Building Height, 2023 & 2033
FIGURE 92: CHINA Market Value Share Analysis, by Speed, 2018, 2023 & 2033
FIGURE 93: CHINA Market Attractiveness Analysis, by Speed, 2023 & 2033
FIGURE 94: CHINA Market Value Share Analysis, by Destination Control, 2018, 2023 & 2033
FIGURE 95: CHINA Market Attractiveness Analysis, by Destination Control, 2023 & 2033
FIGURE 96: CHINA Market Value Share Analysis, by End-Use, 2018, 2023 & 2033
FIGURE 97: CHINA Market Attractiveness Analysis, by End-Use, 2023 & 2033
FIGURE 98: CHINA Market Value Share Analysis, by Application, 2018, 2023 & 2033
FIGURE 99: CHINA Market Attractiveness Analysis, by Application, 2023 & 2033
FIGURE 100: INDIA Market Value Share Analysis, by Deck Type, 2018, 2023 & 2033
FIGURE 101: INDIA Market Attractiveness Analysis, by Deck Type, 2023 & 2033
FIGURE 102: INDIA Market Value Share Analysis, by Building Height, 2018, 2023 & 2033
FIGURE 103: INDIA Market Attractiveness Analysis, by Building Height, 2023 & 2033
FIGURE 104: INDIA Market Value Share Analysis, by Speed, 2018, 2023 & 2033
FIGURE 105: INDIA Market Attractiveness Analysis, by Speed, 2023 & 2033
FIGURE 106: INDIA Market Value Share Analysis, by Destination Control, 2018, 2023 & 2033
FIGURE 107: INDIA Market Attractiveness Analysis, by Destination Control, 2023 & 2033
FIGURE 108: INDIA Market Value Share Analysis, by End-Use, 2018, 2023 & 2033
FIGURE 109: INDIA Market Attractiveness Analysis, by End-Use, 2023 & 2033
FIGURE 110: INDIA Market Value Share Analysis, by Application, 2018, 2023 & 2033
FIGURE 111: INDIA Market Attractiveness Analysis, by Application, 2023 & 2033
- FAQs -
What valuation does the elevators market enjoy at present?
The global elevators market is valued at US$ 95 billion in 2023.
What is the forecasted size of the elevators market for 2033?
Worldwide demand for elevators is set to reach US$ 270 billion by 2033.
At what CAGR is the elevators market expected to evolve through 2033?
Sales of elevators are anticipated to increase rapidly at a CAGR of 11% through 2033.
Who are the key providers of elevators?
Mitsubishi Electric Corporation, KONE Oyj, and The Schindler Group are some of the leading suppliers of elevators.
Which is the most dominant region in the global market?
Currently, Asia Pacific accounts for 50% share of the global market for elevators.
Elevators Market