Global Elevator and Escalator Market Insights Report Overview:
According to current research by MarkNtel Advisors the Global Elevator and Escalator Market is estimated to grow at a CAGR of around 6.1% during the forecast period, i.e., 2024-30. Data at the global, regional, and sub-regional levels are included in the report to assist stakeholders in better understanding supply and demand dynamics and how they affect the sector.
Professionals in the industry have conducted a thorough analysis of the global Elevator and Escalator market report, which has been presented in a way that highlights the most important facts. The most up-to-date data on the global market is the primary emphasis of the research. It includes several significant topics, such as corporate profiles, mergers and acquisitions, financial status, and feasibility research. It offers thorough details on industry chain analysis, marketing routes, and raw material costs. Stakeholders can learn more about market viability and financial sustainability through this abundance of information available. In addition, it provides a comprehensive picture of the market dynamics by illuminating the strategic actions made by organizations, their profiles, and the entire industry value chain.
Scope of the report:
Within the market under study, the report looks at the numerous applications, products/services, market value, and production capacity. In addition, it provides a thorough SWOT analysis, a threat and opportunity analysis, and a summary of the leading regions. Through this, stakeholders may find out more about the market potential for application, diversity of products/services, and market value. In addition, the research offers an evaluation of the opportunities, threats, weaknesses, and strengths, enabling stakeholders to comprehend the market environment and make wise decisions.
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Global Elevator and Escalator Market Challenge:
Surging Number of Casualties Impeding Market Growth & Expansion –According to information from the Consumer Product Safety Commission and the U.S. Bureau of Labor Statistics, accidents involving elevators and escalators result in roughly 30 fatalities and 17,000 serious injuries annually in the United States at the year-end of 2022. Nearly 90% of fatalities and 60% of major injuries are caused by elevators. 14 (nearly half) of the annual deaths involve accidents while working on or near elevators, including constructing, repairing, and maintaining elevators, as well as operating in or near elevator shafts. Incidents involving workers caught in or between escalator and elevator moving parts, on platforms that collapse, or struck by escalators are numerous. Thus, these factors are negatively impacting market growth and are likely to hinder market growth & expansion during the forecast period.
Competitive Landscape:
To provide a clear picture of the competitive environment of the studied industry, we conducted a detailed analysis of both the major global players and the important regional small- and medium-sized businesses with significant growth potential. This global Elevator and Escalator market research provides information on the competitors, including their sales volume and revenue with corresponding market shares, price, and gross margin. It also examines the current competitive situation of the market. Furthermore, discussed are the market concentration ratio, mergers, acquisitions, and expansion strategies.
- Fujitec Co. Ltd.
- Hitachi Elevator Engineering Company
- KONE
- Canny Elevator Company Ltd.
- Toshiba Elevator and Building Systems Corporation
- Hyundai Elevator Co., Ltd.
- Mitsubishi Electric Corporation
- ORONA
- Otis Worldwide Corporation
- Schindler Holding Ltd.
- ThyssenKrupp Elevator AG
- SJEC Corp.
- Walton Group
- Sigma Elevators
- Electra Elevators
- Others
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By identifying the high-growth sectors, the study also gives stakeholders valuable insights into the trends and factors that are either driving or impeding the market growth possibilities.
Global Elevator and Escalator Market Segmentation
-By Application
- Residential
- Commercial
- Industrial
The residential segment dominated the Global Elevator and Escalator Market and is projected to continue to register the highest market share during the forecast period. Elevators and escalators have a high penetration in residential homes, multi-homes, and residential apartments. An increasing shift toward eco-friendly, safe, and flexible design drives the segment’s growth. Increasing residential construction activities are further expected to propel market growth.
-By Type
- Elevator
- Escalator
-By Service
- New Installation- Market Size & Forecast 2019-2030, (Thousand Units)
- Modernization- Market Size & Forecast 2019-2030, (USD Million)
- Maintenance- Market Size & Forecast 2019-2030, (USD Million)
Elevator and Escalator Market Geographical Reach:
-By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
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Key Benefits for Stakeholders:
- To determine the prevailing market opportunities, this research offers a quantitative study of the market segments, current trends, projections, and shifts in the global Elevator and Escalator market analysis from 2024-30.
- Information on the main factors driving the market as well as the obstacles and possibilities are provided.
- The power of suppliers and buyers to empower stakeholders to make profit-driven business decisions and fortify their supplier-buyer network is underscored by Porter’s five forces analysis.
- A comprehensive examination of the Elevator and Escalator market segmentation aids in identifying the dominant market opportunities.
- The major countries in each area are shown about the revenue they generate for the global market.
- Market player positioning makes benchmarking easier and gives a clear picture of the current market position of each participant discussed in the report.
- The research analyzes market trends for the Elevator and Escalator industry on a regional and global scale, as well as the major competitors, market segments, and industry expansion tactics.
About Us
MarkNtel Advisors is a leading market research company, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others.
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