Albany, NY -- (SBWIRE) -- 03/11/2019 -- Global Elevator Market: Overview
The elevator market report provides analysis for the period 2016–2026, wherein 2018 to 2026 is the forecast period and 2017 is the base year. The report covers all the major trends and key drivers playing a major role in the growth of the elevator market over the forecast period. It also highlights the drivers, restraints, and opportunities expected to influence the market during the said period. The study provides a holistic perspective of the elevator market throughout the above mentioned forecast period in terms of revenue (in US$ Mn), and volume (in Thousand Units), across different geographies, including Asia Pacific, South America, North America, Europe, and Middle East & Africa (MEA).
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Global Elevator Market: Trends and Opportunities
The key factor that is exerting significant impact and driving the global elevator market is rapid urbanization. According to World Bank records published in 2016, 54% of the population resides in urban areas globally and by 2045 this number is expected to increase 1.5 times with 6 billion people living in cities. Demand for residential properties has surged due to increased urbanization and rising household income. The cities of ASEAN are continually focusing on improving urban planning and building capabilities in resource rich regions and major cities with good communication and transportation systems to attract domestic and foreign direct investment, which in turn is driving the urban growth in this region. All these factors are expected to drive the global elevator market during the forecast period (2018 - 2026).
Mixed-block development trend is on the rise; but this is nothing new. With changing real estate trends, in recent years, the pendulum has shifted back to mixed block. As a result, mixed-block development has become increasingly popular. Intensity of high-rise construction is increasing and also the percentage of mixed-block high rise buildings. Mixed-block tall buildings include residential, office, retail, serviced apartments, hotels, casino, etc.
Global Elevator Market: Key Segments
The global elevator market has been segmented on the basis of deck type, destination control, building height, end-use, speed, application, and region. Based on deck type, the market is segmented into single and double deck. Based on destination control, the elevator market is classified into smart and conventional. In terms of building height, the elevator market is segmented into low rise, mid-rise, and high rise. Based on end-use, the elevator market has been segmented into residential, commercial, and mix block. The speed segment is classified into – less than 1m/s, between 1 to 3 m/s, between 4 to 6 m/s, between 7 to 10 m/s, and above 10m/s. The most common is between 1 to 3 m/s in developing countries. Based on application, the elevator market is segmented as passenger and freight.
In terms of country, the North America market is divided into the U.S., Canada, and Rest of North America. Similarly, the Europe market is divided into U.K.,Germany, France, Italy, and Rest of Europe. Asia Pacific has been segmented into China, India, Japan, and Rest of Asia Pacific. Middle East & Africa covers the G.C.C., South Africa, and Rest of Middle East & Africa. Similarly, South America region includes Brazil, and Rest of South America. This report provides all the essential information required to understand the elevator market and its types.
Global Elevator Market: Scope of the Study
The report includes key developments in the elevator market. Porter's Five Force analysis, which identifies bargaining power of suppliers, bargaining power of buyers, threat from new entrants, threat from substitutes, and degree of competition in the elevator market is also included in the report. Value chain analysis which shows work flow in the elevator market and identifies raw material suppliers, service providers, and distribution channels of this industry is covered in the report. Segment trends and regional trends have been highlighted. It also covers segment-wise incremental opportunity analysis and price trend analysis (retail price). Furthermore, the report covers incremental opportunity analysis and identifies and compares attractiveness of segments on the basis of CAGR and market share index across North America, Europe, Asia Pacific, Middle East & Africa, and South America. The same has also been provided for each segmentation category i.e. deck type, building height, end-use, speed, application, and region in the scope of the study.
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Global Elevator Market: Competitive Landscape
The report also includes competition landscape, which includes competition matrix, market structure analysis of major players in the global elevator market based on their 2017 revenues, and profiles of major players. The competition matrix benchmarks leading players on the basis of their capabilities and potential to grow. Factors including market position and offerings have been considered while presenting competition matrix. This section also identifies and includes various recent developments carried out by leading players in the elevator market.
Otis Elevator Company, KONE Oyj, Schindler, Fujitec Co., Ltd., Hitachi, Ltd., Hyundai Elevator Co., Ltd., Electra Elevators, Mitsubishi Electric Corporation, Thyssenkrupp AG, and Toshiba Corporation are the key companies profiled in the research report. The report also offers competitive landscape of key players in the elevator market. Details such as financials, business strategies, recent developments, and other such strategic information pertaining to these players have been duly provided as part of company profiling.