What is Elevator and Elevator Control Market Scope?
In today’s time, elevators have become common in any multistory and large floor residential and commercial buildings to improve functionality. Increasing the construction of commercial buildings and skyscrapers in the urban and metropolitan areas will accelerate the growth of elevators and elevator control systems across the globe. Home and residential elevators are becoming more popular to give a luxurious and stylish look to the home. Many commercial buildings are demanding group automatic operation elevator control systems to control more than one elevator at the same time and provide improved functionality.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Historical Period | 2017-2021 |
Unit | Value (USD Million) |
Key Companies Profiled | Schindler Group (Switzerland), Mitsubishi Electric (Japan), Hyundai Elevator (South Korea), Fujitec (Japan), Delaware Elevator (United States), Hitachi (Japan), Schneider Electric (France), Otis Worldwide (United States), Kone (Finland), Thyssenkrupp (Germany), Toshiba Elevator and Building Systems Corporation (Japan), Nationwide Lifts (United States), NOVA s.r.l. (Italy), Thames Valley Controls (United Kingdom), Delta Elevator (Canada) and Nidec Corporation (Japan) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Elevator and Elevator Control market study is being classified by Type (Traction Elevator {Geared Traction Elevator, Gearless Traction Elevator}, Hydraulic Elevators {Roped Hydraulic Elevator, Conventional Hydraulic Elevator, Hole-less Hydraulic Elevator}, Machine-Room-Less (MRL) Elevator and Vacuum (Air Driven) Elevator), by Application (Residential and Commercial) and major geographies with country level break-up.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Schindler Group (Switzerland), Mitsubishi Electric (Japan), Hyundai Elevator (South Korea), Fujitec (Japan), Delaware Elevator (United States), Hitachi (Japan), Schneider Electric (France), Otis Worldwide (United States), Kone (Finland), Thyssenkrupp (Germany), Toshiba Elevator and Building Systems Corporation (Japan), Nationwide Lifts (United States), NOVA s.r.l. (Italy), Thames Valley Controls (United Kingdom), Delta Elevator (Canada) and Nidec Corporation (Japan) are some of the key players profiled in the study.
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Elevator and Elevator Control market by Type, Application and Region.
On the basis of geography, the market of Elevator and Elevator Control has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Influencers and their development strategies
In January 2022, 3Phase Elevator an independent elevator and escalator services provider announced a merger with Specialized Elevator Services Holdings. The merger will allow both the companies to serve their customers and provide a transformational opportunity to form the largest nationwide independent union elevator services firm.
Influencing Market Trend
- Emerging Trend of Next-Generation IoT Enabled Elevators to Improve Safety, Maintenance, and Better Performance
- Increased Focus by the Manufacturers on the Development of New Innovative Control Systems for Elevators
Market Drivers
- Surging Demand for More than 10 Person Capacity for the Commercial Buildings with High Operating Heights
- Development of Skyscrapers and Multistory Apartments across the Globe Due to Rapidly Growing Population and Urbanization Across the Globe
- Growing Popularity of Group Automatic Operation Elevator Control System for Large Buildings with Multiple Elevators
Opportunities
- Increasing Adoption of Elevators for Installation in Independent Houses Due to Increasing Number of Geriatric Population and Joint Pain Problems
Restraints
- High Cost Associated with Retrofitting of Elevators in Old Buildings May Hamper the Market Growth
- Expensiveness of New Technology-Enabled Elevators in the Market May Slowdown the Growth
Challenges
- Slow Lifting Speed and Little Bit Noise Due to Using Hydraulic Elevators
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Elevator and Elevator Control System Manufacturers, Suppliers, Distributors, and Service Providers, Venture Capitalists and Private Equity Firms, End-Users and Others
Customization available in this Study:
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
To compete effectively, companies also require quantitative estimates of the future growth and qualitative nature of the market. AMA Research features not just specific market sizing estimates, but also include significant value-added commentary on Technological Trends and Innovations, Regulatory Policies, Market Maturity Indicators, Market Share Movements, New Entrants into the Market & Entry/Exit Barriers, Consumer Demographics, Supporting Company Financial and Cash Flow Planning, Open Up New Markets , To Seize Powerful Market Opportunities, Key Decision in Planning and to Further Expand Market Share, Identify Key Business Segments, Market Proposition & Gap Analysis.
Frequently Asked Questions (FAQ):
1. At what growth rate would the Elevator and Elevator Control market expands?
The Global Elevator and Elevator Control market is expected to see a growth of % during projected year 2021 to 2027.
2. Who are the prominent players of the Global Elevator and Elevator Control market?
The prominent players of Global Elevator and Elevator Control market are Schindler Group (Switzerland), Mitsubishi Electric (Japan), Hyundai Elevator (South Korea), Fujitec (Japan), Delaware Elevator (United States), Hitachi (Japan), Schneider Electric (France), Otis Worldwide (United States), Kone (Finland), Thyssenkrupp (Germany), Toshiba Elevator and Building Systems Corporation (Japan), Nationwide Lifts (United States), NOVA s.r.l. (Italy), Thames Valley Controls (United Kingdom), Delta Elevator (Canada) and Nidec Corporation (Japan), to view complete player list click here
3. What are the top priorities to focus for Elevator and Elevator Control markets growth?
In this highly competitive & fast evolving Elevator and Elevator Control industry, the top strategic priorities would remain consistent like innovation, R&D and M&A.