DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Elevators Modernization Market -By Elevator Type (Traction, Hydraulic) By Components (Controller, Door Equipment, Power Units) By Type (Full & Phased Modernization) By End-User (Residential, Commercial, Marine, Industrial)-Forecast (2016-2021)" report to their offering.
Elevator modernization is a process of upgrading the existing elevator to make the elevator safer, more efficient and more attractive. It is one of the emerging services in the elevator industry and encompasses two kinds of modernizations namely full modernization and partial modernization. Modernization service providers assist the customers in choosing the modernization type and services. Increase in concerns towards energy efficiency, Co2 emissions and emphasis on security and safety are the primary factors that have been driving the growth for this market. Opposition from vintage elevator enthusiasts and the suitability of modernization with old power infrastructure buildings obstructs the reach of modernization services.
The global elevator modernization market has been analyzed with respect to different parameters such as demand, supply, end-users and service providers. Elevator modernization market encompasses two types of elevators hydraulic and traction, traction further classified into geared, gearless. The market is further classified based on the components, type, end-user and by geography.
The overall market is also presented from the perspective of different geographic regions and the key countries in each region. Europe is the dominating market which held a major revenue share in 2015 and is estimated as fastest growing market next to APAC, mainly driven by implementation of regulations from Safety Norm for Existing Lifts (SNEL) and increasing old high rise buildings. The global elevator modernization market is estimated to reach $11,289.0M by 2021 with CAGR of 4.16% during the forecast period.
Elevator modernization market is dominated by five companies, namely:
- Otis Elevator Company (U.S)
- ThyssenKrupp Elevator AG (Germany)
- Schindler (Switzerland)
- Kone Corporation (Finland)
- Mitsubishi Electric Corporation (Japan)
Other companies in the market include:
- Magnetek, Inc. (U.S)
- Fujitec (Japan)
- Hyundai Elevator Co., Ltd (Korea)
- Wittur (Germany).
Key Topics Covered:
1. Elevator Modernization - Market Overview
2. Executive Summary
3. Elevator Modernization - Market Landscape
4. Elevator Modernization - Market Forces
5. Elevator Modernization Market - Strategic Analysis
6. Elevator Modernization Market - By Component Type
7. Elevator Modernization Market - By Modernization Type
8. Elevator Modernization Market - By End-User
9. Elevator Modernization MarketBy Geography
10. Market Entropy
11. Company Profiles
For more information about this report visit http://www.researchandmarkets.com/research/l3gz8q/elevators