Construction Elevator for Building refers to a platform, whether open or enclosed, used to transport people or goods to higher floors of a building. Elevators are an essential component of any high-rise commercial or residential structure. An elevator, also known as a lift, is a car that moves vertically in a shaft to transport passengers or freight between the levels of a multi-storey building. Most modern elevators are propelled by electric motors via a system of cables and sheaves with the assistance of a counterweight (pulleys). The elevator played a decisive role in creating the distinctive urban geography of many modern cities, particularly in the United States, and promises to play an indispensable role in future city development.
|Unit||Value (USD Million)|
|Key Companies Profiled||Fangyuan Group (China), XCMG (China), GEDA (Turkey), Sichuan Construction Machinery (China), Jianglu Machinery Electronics (China), Guangxi Construction (China), Dahan (Kuwait), Hengsheng Engineering Machinery (China), Joinhand Construction Machinery (China) and Kone Corporation (Finland)|
|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|
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics of major and emerging geographies across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Key Vendors of Construction Elevator For Building Market Study:
Fangyuan Group (China), XCMG (China), GEDA (Turkey), Sichuan Construction Machinery (China), Jianglu Machinery Electronics (China), Guangxi Construction (China), Dahan (Kuwait), Hengsheng Engineering Machinery (China), Joinhand Construction Machinery (China) and Kone Corporation (Finland)
Construction Elevator For Building Market Segment Analysis
|Application / End User||Residential, Commercial, Industrial and Others|
|Type||Construction hoists, Material hoists and Work platforms|
|Load Capacity||Below 2 Tons,2 to 3 Tons,Above 3 Tons,Others|
|Building Type||Low Rise,Mid Rise,High Rise|
Construction Elevator For Building Market Changing Dynamics
- Demand for Residential and Non-Residential Constructions
- Rapidly Increasing Innovations of Building
- Booming construction activities in the Middle East
- Large Number of Damage Leakage in Hydraulic Elevator
|Road Blocks / Challenges|
- High Installation and Maintenance Costs
|Gaps & Opportunities|
- Increase in Construction Activities
- Increase in Industrialization
- Rising Urbanized Population
Some of the other players that are also part of study are Alimak (Sweden), Stros (Czechia), Morrow (United States) and Others. The Global Construction Elevator For Building market is gaining huge competition due to involvement of Chinese companies that constantly invest in research & development to meet market expectation with new innovation.
Latest Industry Highlights:
On 16th February 2022, Otis India launched the Ambiance elevator cab aesthetics range for Gen2 elevators. The collection has been designed specifically for Otis and will be manufactured at the Otis India Bengaluru factory. The design uses a combination of materials, form, textures, and patterns to create a look that distinguishes an Otis elevator from others. Otis is the world's largest manufacturer, installer, and service provider of elevators and escalators.
On 26th May 2022, 3Phase Elevator, a leading independent elevator and escalator services provider, announced the merger with Mile High Elevator, a Denver and Cheyenne market provider of elevator maintenance, repair, and modernization services. The merger allows 3Phase to establish a strong presence in the Mountain States while expanding nationally.
The construction, maintenance, and safe operation of lifts are regulated by the Lift Acts and Rules made in certain States, says Amit Gossain, MD, KONE India. Furthermore, Indian Standards for Elevators have been prescribed, defining the types, recommended dimensions, technical specifications, and testing method. The Indian Standards also outline the best practises for installing, operating, and maintaining passenger, goods, and service lifts. The above regulations also cover the safety of lifts. While Indian Standards (IS) will apply to installations across the country, Lift Acts are only applicable in the states where Lift Acts have been enacted.
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Construction Elevator For Building market.
In order to reach an exhaustive list of functional and relevant players, various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep into important geographies by players, and a thorough validation test is conducted to reach the most relevant players for survey in Construction Elevator For Building market.
Identification of total players or companies operating in the global market which is further concentrated to fewer or most impacting players which are considered under the reports scope. In order to make a priority list sorting is done based on revenue generated based on the latest reporting with the help of paid databases such as Factiva, Bloomberg, etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes New Entrants/Investors, Analysts and Strategic Business Planners, Construction Elevator for Building Manufacturer, Construction Elevator for Building Distribution and Supplier, Government Bodies, Research Organizations, End-Users and Others.
This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth, etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that include Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases etc.