Elevators Market

Which Factors increases the Demand of Global Elevators Market in
Construction Industry and Know the Key Players with Forecasts 2021?
Market Research Future published a half cooked research report on “Global Elevators Market Research
Report - Forecast to 2021”– Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2021.
Global Elevators Market - Overview
Elevators have become very critical across all applications such as residential, commercial, and
industrial. The market is expected to continue with the moderate growth trend during the forecast
period. There have been few factors driving the market such as Rapid Urbanization, changing
construction industry, and adoption of green building concept.
Huge investments in infrastructural projects in Asia Pacific countries countries have spurred the demand
for elevators for commercial and residential purpose. The region has given a tough competition to well
established European and U.S. markets when it comes to the manufacturing base and price points.
There is seen changing dynamics in construction industry in the region such as interest by foreign
investors and increase in FDI in construction in countries such as Indonesia and India. This augments the
demand for such elevators in the region.
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The construction sector in Brazil has witnessed a good growth with the development in Brazilian
economy. Infrastructure projects in the region have been growing steadily. Consequently, there is a high
demand for elevators, which is attracting big market players to enter the region for business expansion.
The governments across all regions are seen promoting and developing their construction sector. The
emerging nations are particularly bringing various reform and regulations to boost their infrastructure
growth and real-estate market. Such growth is expected to augment the market growth of elevators
industry. For instance, the government of India announced several major policy initiatives such as the
passage of the Real Estate (Regulation and Development) Act 2016, the amendment to the Benami
Transactions Act, 100% deduction in profits for affordable housing construction, change in arbitration
norms for construction companies, and many others to boost the construction industry in the country.
Key Players:
Kone Corporation
Thyssenkrupp AG
Dover, Fujitec
Hyundai, Mitsubishi
Omega Elevators
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Global Elevators Market - Competitive Analysis
Characterized by the presence of several well-established along with medium and small players, the
global market of elevators appears to be highly competitive and fragmented. International players are
seen increasingly expanding their footprint in the developing economy, making it difficult for regional
vendors to compete with them, especially in terms of features such as product differentiation, quality,
and pricing. The market is witnessing intensified competition which is expected to get more intensified
further during the forecast period.
ThyssenKrupp launched its Internet-Connected Elevators in six more countries after piloting the system
in the United States, Germany and Spain. The company aims to sell at least 100,000 units by mid-2017.
In November 2017, Otis Elevator Company completes acquisition Mitsubishi Electric Elevator business in
Brazil. Otis Brazil will be the exclusive and authorized service provider of Mitsubishi Electric and LGTech
Brand elevators and escalators equipment in Brazil. The company will also have access to original spare
parts and modernization of Mitsubishi Electric’s elevators and escalators in Brazil.
In July 2017, Kone completed acquisition of Alois Kasper GmbH (Germany). The step is expected to
strengthen their presence in the Saarland and Frankfurt regions.
Global Elevators Market - Segments
Global Elevators Market is segmented in to 3 Key dynamics for an easy grasp and enhanced
Segmentation by Types: Comprises – Passenger elevator, Good elevators, Capsule elevators, Automobile
elevators, stretcher elevators, Hydraulic elevators
Segmentation by Application: Comprises – Residential and Commercial
Segmentation by Regions: Comprises Geographical regions - North America, Europe, APAC and Rest of
the World
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Global Elevators Market Information by Types (Passenger elevator, Good elevators, Capsule elevators, Automobile elevators, stretcher elevators, Hydraulic elevators) and by application (residential and commercial) - Forecast to 2021