LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent elevator and escalator market in Germany report until 2021. This research report also lists 15 other prominent vendors that are expected to impact the market during the forecast period.
The research study by Technavio on the elevator and escalator market in Germany for 2017-2021 provides a detailed industry analysis based on the product (elevators and escalators) and service (maintenance, new installations, and modernization).
“The elevator and escalator market in Germany is projected to reach nearly USD 3,600 million by 2021, growing at a CAGR of more than 5% over the forecast period. The increasing adoption of energy-efficient elevators and escalators is a key factor boosting the market growth,” says Gaurav Mohindru, a lead analyst at Technavio for construction research.
Competitive vendor landscape
KONE, Schindler, Otis Elevator, and thyssenkrupp Aufzüge dominate the elevator and escalator market in Germany and offer standardized products and components on a grand scale. The remaining market shares are occupied by many small and middle‐sized enterprises that either concentrate on a region or provide specialized products. Manufacturers actively compete for maintenance contracts, offering lifts or escalators as a product as well as a part of a general service package.
Usually, the maintenance and modernization services provided by domestic vendors are cost-effective for smaller construction companies. These domestic vendors are slowly increasing their market footprint in Germany, which can have an adverse effect on the market share of the international vendors in the long run, especially in the maintenance and repair business.
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Top five vendors in the elevator and escalator market in Germany
Schindler designs, manufactures, installs, maintains, and markets an extensive range of elevators, escalators, moving walks, and transit management solutions. The company caters to end-markets such as commercial buildings, hospitals, offices, airports, stadiums, residential apartments, construction sites, train stations, and shopping malls.
Otis Elevator designs, manufactures, and maintains people-moving products, which includes escalators, elevators, and moving walkways. Some of the biggest and iconic buildings, such as Burj Khalifa, Petronas Towers, and Empire State Building, have installed Otis elevators and escalators.
thyssenkrupp Aufzüge is a diversified industrial company specialized in materials, and capital goods and service businesses. It provides passenger and freight elevators, escalators and moving walks, passenger boarding bridges, stair and platform lifts, and service solutions in the country.
KONE provides elevators, escalators, auto walks, automatic doors, and integrated vertical transport systems. It also supplies services throughout the lifecycle of the equipment, including the installation, maintenance, and replacement.
Schmitt + Sohn
Schmitt + Sohn is primarily engaged in the manufacture, service, and marketing of lifts, escalators, and moving walkways, and specialized parts for lifting and handling equipment.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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