Global Elevator & Escalator Market (2020 to 2024) - Insights & Forecast with Potential Impact of COVID-19 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Global Elevator & Escalator Market: Insights & Forecast with Potential Impact of COVID-19 (2020-2024)" report has been added to ResearchAndMarkets.com's offering.

The global elevator & escalator (E&E) market is anticipated to reach US$142.2 billion in 2024, experiencing growth at a CAGR of 7% during the period spanning 2020-2024. The growth in the elevator & escalator market is driven by various factors such as increasing urbanization, surging aged population, rising construction expenditure and increasing gross domestic product. The market is expected to face certain challenges like the high price of installation and lack of skilled workforce. The global E&E market is predicted to experience certain trends such as high demand energy-efficient elevators and verticalization of cities.

The global E&E market can be segmented as follows: maintenance, new installation and modernization. In 2019, the highest share of the market was held by maintenance, followed by the new installation and modernization segments. The market by technology type can be segmented into the following: machine room-less, hydraulic and traction. In 2019, the dominant share of the market was held by machine room-less technology, which was followed by hydraulic and traction. The global E&E market by application can be segmented as follows: commercial, institutional and residential. The highest share of the market in 2019 was held by commercial, followed by institutional segment.

The global smart elevator market can be segmented as follows: modernization, new installation and maintenance. In 2019, the dominant share of the market was held by modernization, followed by new installation and maintenance segment. The global smart elevator market by end-users can be segmented as follows: commercial, residential, institutional and industrial. The dominant share of the market was held by the commercial segment, followed by the residential, institutional and industrial segments in 2019.

In 2019, the dominant share of the elevator & escalator (E&E) market was held by the Asia Pacific, which was followed by EMEA and the Americas. Asia Pacific market is expected to dominate the market in future accruing to rising public expenditure on infrastructural development in developing countries such as Indonesia, India, China, and the Philippines that would increase construction activities in the region.

Companies Mentioned

• Hitachi
• KONE Oyj
• Mitsubishi Electric
• Schindler Holding AG
• ThyssenKrupp AG
• United Technologies Corp (Otis)

Scope of the report:

• The report provides a comprehensive analysis of the global E&E market with the potential impact of COVID-19.
• The major regional markets of the Asia Pacific, EMEA and Americas with focus on countries like India, China, Japan & Korea, Spain and the US have been analyzed.
• The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.

Key Topics Covered:

1. Overview

2. Impact of COVID-19

2.1 Impact on Global Economy

2.2 US Construction Activity

2.3 Change in Organic Traffic

2.4 Decline in Global GDP Growth

2.5 Disruption of Supply Chain

2.6 Decline in Industrial Production

2.7 Declining Trade Volume

3. Global Elevator & Escalator Market

3.1 Global E&E Market by Value

3.2 Global E&E Market Forecast by Value

3.3 Global E&E Market Value by Region

3.4 Global E&E Market Value by Segment

3.5 Global E&E Maintenance Market

3.6 Global E&E New Equipment Market

3.7 Global E&E Modernization Market

3.8 Global E&E Market by Technology Type

4. Regional Market Analysis

4.1 Asia-Pacific

4.2 EMEA

4.3 Americas

5. Smart Elevators Market

5.1 Global Smart Elevator Market by Value

5.2 Global Smart Elevator Market Forecast by Value

5.3 Global Smart Elevator Market by End Users

5.4 Global Smart Elevator Market by Segment

5.5 Asia-Pacific

5.5.1 Asia-Pacific Smart Elevator Market by Value

5.5.2 Asia-Pacific Smart Elevator Market Forecast by Value

5.5.3 Asia-Pacific Smart Elevator Market by Segment

5.5.4 Asia-Pacific Smart Elevator Modernization Market Forecast by Value

5.5.5 Asia-Pacific Smart Elevator New Installation Market Forecast by Value

5.5.6 Asia-Pacific Smart Elevator Maintenance Market Forecast by Value

6. Market Dynamics

6.1 Growth Drivers

6.1.1 Rapid Urbanization

6.1.2 Rising Geriatric Population

6.1.3 Increasing Construction Spending

6.1.4 Ageing E&E Installed Base

6.1.5 Accelerating Economic Growth

6.2 Key Trends & Development

6.2.1 High Demand for Energy Efficient Elevators

6.2.2 Verticalization of Cities

6.2.3 Digitalization

6.3 Challenges

6.3.1 High Price of Installation

6.3.2 Lack of Skilled Workforce

6.3.3 Safety Issues

7. Competitive Landscape

8. Company Profiles

For more information about this report visit https://www.researchandmarkets.com/r/pjv2t4