Elevator Modernization Market by Elevator Type (Traction and Hydraulic), Component (Controller, Door Equipment, Cabin Enclosure, Signaling Fixture, Power Unit, and Others), and End User (Residential Sector, Commercial Sector, and Industrial Sector) - Global Opportunity Analysis and Industry Forecast, 2014-2022
- ALL1181284
- 157 Pages
- May 2017
- Construction & Manufacturing
Elevator modernization can be elaborated as the process of upgrading crucial parts of an elevator to make it capable to handle new technology, better performance, improvised safety, and with sophisticated as well as modern appeal. Elevators have life span of 20‐25 years (maximum up to 40 years) where they perform expected services, provided they are given proper maintenance and repair services periodically. Elevator modernization market contributes around 6-7% of total elevators market and is expected to grow at a significant rate during the analysis period.
It is very difficult to replace or repair an old elevator with former technology, where modernization becomes necessary. Modernization provides replacement of controller, power unit, hoistway, signaling fixtures, cab enclosures, door equipment, and other important parts, which are necessary to be modified with change in requirements and style of equipment. Modernization greatly affects the operational reliability and ride quality of an elevator, as mechanical components and mechanism is being modified with the latest technology. Passenger safety also gets improved with system updates such as unintended car movement protection device on the brake system and double brake system. Major concerns with elevator modernization include reduction in the aesthetic appeal of the elevator with a more generalized, modern, and unsuitable elevator designs which may not be appropriate in some historic buildings.
Modernization styles elevators safer, more attractive, and efficient, which further results in change in the buildings’ image and performance. Rapid urbanization, awareness about safety, demographic changes, and development in commercial, residential as well as industrial sector have driven the growth in elevator modernization market. However, unsuitable designs of elevators and environmental hazards from elevators restraint the market growth. Yet, adoption of machine room-less elevators, green elevators, and other eco-friendly designs of elevators have provided huge opportunities for the growth of elevator modernization industry. Furthermore, rise in investments in commercial sectors such as IT & BFSI buildings, malls & hospitality, hospitals, airports, transportation, and other commercial buildings, rapid urbanization & industrialization, and significant GDP growth will enable elevator modernization market to bloom in the near future.
The global elevator modernization industry market is segmented based on elevator type, components, end users, and geography. Based on elevator type, the market is studied for two major types-traction and hydraulic elevators. Components used in elevator modernization include controllers, door equipment, cabin/cab enclosures, signaling fixtures, power unit, and others. Elevator modernization market is further analyzed based on end users which include commercial sector, residential sector, and industrial sector. The market is studied across four major regions, namely, North America, Europe, Asia-Pacific, and LAMEA.
Companies operating in the elevator modernization market are interested in spreading their market presence through adoption of numerous strategies such as product launch, geographical expansion, acquisition, and strategic alliance. Key players included in this report include Otis Elevator Company, KONE Corporation, ThyssenKrupp AG, Mitsubishi Electric Corporation, Fujitec Corporation, Hitachi, Ltd., Hyundai Elevator Co., Ltd., Toshiba Elevator and Building Systems Corporation, and ShenYang Yuanda Intellectual Industry Group Co., Ltd.
Key Benefits
- An in-depth analysis of the global elevator modernization market is provided along with the market dynamics that would give detailed understanding of elevator modernization market size and related facts.
- Quantitative analysis of the current market and future estimations from 2014 to 2022 is projected to assist strategists to design business strategies to capitalize on the prevailing market opportunities.
- Porter’s Five Forces analysis examines the competitive structure of the elevator modernization industry and provides a clear understanding of the factors that influence the market entry and market expansion.
- A detailed analysis of geographical segments and contribution of other segments in overall elevator modernization market share is provided in this report.
- A comprehensive analysis of market trends, sub-segments, and key revenue pockets is provided.
- Analysis of the key leaders and their business strategies is anticipated to assist stakeholders to make more informed business decisions.
- A detailed company profile analysis is provided, that highlights major developments such as mergers and acquisitions, expansions, and new product launch in elevator modernization industry.
Elevator Modernization Market Key Segments:
By Elevator type
- Traction Elevator
- Hydraulic Elevator
By Components
- Controllers
- Door Equipment
- Cabin Enclosures
- Signaling Fixtures
- Power Units
- Others (overspeed governor, guide rails)
By End User
- Residential Sector
- Commercial Sector
- Industrial Sector
By Geography
- North America
- Europe
- Asia-Pacific
- LAMEA
Key Vendors Profiled in the Report
- Otis Elevator Company
- KONE Corporation
- ThyssenKrupp AG
- Mitsubishi Electric Corporation
- Fujitec Corporation
- Hitachi, Ltd
- Hyundai Elevator Co., Ltd.
- Toshiba Elevator and Building Systems Corporation
- ShenYang Yuanda Intellectual Industry Group Co., Ltd.
Other companies mentioned in the report include DLF Limited, Prime Deco Engineering Co., Ltd., Siam-Hitachi Elevator Co., Ltd., Mitsubishi Electric Shanghai Electric Elevator Co., Ltd. (MESE), Volkslift Elevator (China) Co. Ltd, German FB Group, GE (General Electric), Huawei Technologies Co. Ltd, Valley Elevator, Inc, Hontz Elevator Company, Westinghouse Electric Corporation, Haughton Elevator, Armor Elevator Canada, Nippon Elevator Industry Co. Ltd, Westinghouse Elevator Division, Marohn Elevator Co., Ltd., Manutenzione Installazione Ascensori SpA (MIA), Express Elevators Ltd (Express), Janzhoff Aufzüge GmbH, Capital Elevator Services, AT&T Inc., Gemdale Corporation, Leading-Group Real Estate Co. Ltd., Orana, North American Elevator Incorporated, Stager Elevators, Custom Industrial Products, Inc., Gruppo Millepiani S.p.a. and others.
CHAPTER 1 INTRODUCTION
1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS
1.3. KEY MARKET SEGMENTS
1.4. RESEARCH METHODOLOGY
1.4.1. Primary research
1.4.2. Secondary research
1.4.3. Analyst tools and models
1.4.4. Segmentation
CHAPTER 2 EXECUTIVE SUMMARY
2.1. CXO PERSPECTIVE
CHAPTER 3 MARKET OVERVIEW
3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS
3.2.1. Top winning strategies
3.2.2. Top investment pockets
3.2.3. Top impacting factors
3.3. PORTERS FIVE FORCES ANALYSIS
3.3.1. Moderate bargaining power of buyers due to moderate price sensitivity and high switching costs
3.3.2. Moderate bargaining power of suppliers due to low product differentiation
3.3.3. High degree of competition due to presence of large number of players
3.3.4. Moderate threat of new entrants due to heavy initial investments and high backward integration among existing players
3.3.5. Moderate threat of substitute due to more number of advantages of modernization as compared to substitutes
3.4. MARKET SHARE ANALYSIS, 2015
3.5. MARKET DYNAMICS
3.5.1. Drivers
3.5.1.1. Changing trends in elevator industry
3.5.1.2. Rapid urbanization
3.5.1.3. Rising awareness about safety and security
3.5.2. Restraints
3.5.2.1. Unsuitable elevator designs
3.5.2.2. Environmental hazards
3.5.3. Opportunities
3.5.3.1. Development in commercial sector
3.5.3.2. Increase in adoption of machines room-less elevators
3.5.3.3. Technological advancements in elevator modernization
CHAPTER 4 COMPETITIVE LANDSCAPE
CHAPTER 5 ELEVATOR MODERNIZATION MARKET, BY ELEVATOR TYPE
5.1. OVERVIEW
5.2. TRACTION ELEVATOR
5.2.1. Key market trends
5.2.2. Key growth factors and opportunities
5.2.3. Market size and forecast
5.3. HYDRAULIC ELEVATOR
5.3.1. Key market trends
5.3.2. Key growth factors and opportunities
5.3.3. Market size and forecast
CHAPTER 6 ELEVATOR MODERNIZATION, BY COMPONENT
6.1. OVERVIEW
6.2. CONTROLLER
6.2.1. Key market trends
6.2.2. Key growth factors and opportunities
6.2.3. Market size and forecast
6.3. DOOR EQUIPMENT
6.3.1. Key market trends
6.3.2. Key growth factors and opportunities
6.3.3. Market size and forecast
6.4. CABIN ENCLOSURE
6.4.1. Key market trends
6.4.2. Key growth factors and opportunities
6.4.3. Market size and forecast
6.5. SIGNALING FIXTURE
6.5.1. Key market trends
6.5.2. Key growth factors and opportunities
6.5.3. Market size and forecast
6.6. POWER UNIT
6.6.1. Key market trends
6.6.2. Key growth factors and opportunities
6.6.3. Market size and forecast
6.7. OTHERS (OVERSPEED GOVERNOR AND GUIDE RAIL)
6.7.1. Key market trends
6.7.2. Key growth factors and opportunities
6.7.3. Market size and forecast
CHAPTER 7 GLOBAL ELEVATOR MODERNIZATION, BY END USER
7.1. OVERVIEW
7.2. RESIDENTIAL SECTOR
7.2.1. Key market trends
7.2.2. Key growth factors and opportunities
7.2.3. Market size and forecast
7.3. COMMERCIAL SECTOR
7.3.1. Key market trends
7.3.2. Key growth factors and opportunities
7.3.3. Market size and forecast
7.4. INDUSTRIAL SECTOR
7.4.1. Key market trends
7.4.2. Key growth factors and opportunities
7.4.3. Market size and forecast
CHAPTER 8 GLOBAL ELEVATOR MODERNIZATION MARKET, BY GEOGRAPHY
8.1. OVERVIEW
8.2. NORTH AMERICA
8.2.1. Key market trends
8.2.2. Key growth factors and opportunities
8.2.3. Market size and forecast
8.2.3.1. U.S.
8.2.3.1.1. Market size and forecast
8.2.3.2. Canada
8.2.3.2.1. Market size and forecast
8.2.3.3. Mexico
8.2.3.3.1. Market size and forecast
8.3. EUROPE
8.3.1. Key market trends
8.3.2. Key growth factors and opportunities
8.3.3. Market size and forecast
8.3.3.1. UK
8.3.3.1.1. Market size and forecast
8.3.3.2. Germany
8.3.3.2.1. Market size and forecast
8.3.3.3. France
8.3.3.3.1. Market size and forecast
8.3.3.4. Italy
8.3.3.4.1. Market size and forecast
8.3.3.5. Russia
8.3.3.5.1. Market size and forecast
8.3.3.6. Rest of Europe
8.3.3.6.1. Market size and forecast
8.4. ASIA-PACIFIC
8.4.1. Key market trends
8.4.2. Key growth factors and opportunities
8.4.3. Market size and forecast
8.4.3.1. China
8.4.3.1.1. Market size and forecast
8.4.3.2. Japan
8.4.3.2.1. Market size and forecast
8.4.3.3. India
8.4.3.3.1. Market size and forecast
8.4.3.4. Australia
8.4.3.4.1. Market size and forecast
8.4.3.5. Rest of Asia-Pacific
8.4.3.5.1. Market size and forecast
8.5. LAMEA
8.5.1. Key market trends
8.5.2. Key growth factors and opportunities
8.5.3. Market size and forecast
8.5.3.1. Latin America
8.5.3.1.1. Market size and forecast
8.5.3.2. Middle East
8.5.3.2.1. Market size and forecast
8.5.3.3. Africa
8.5.3.3.1. Market size and forecast
CHAPTER 9 COMPANY PROFILES
9.1. FUJITEC CO., LTD.
9.1.1. Company overview
9.1.2. Company snapshot
9.1.3. Business performance
9.2. HITACHI, LTD.
9.2.1. Company overview
9.2.2. Company snapshot
9.2.3. Business performance
9.2.4. Key strategic moves and developments
9.3. HYUNDAI ELEVATOR CO., LTD.
9.3.1. Company overview
9.3.2. Company snapshot
9.3.3. Business performance
9.3.4. Key strategic moves and developments
9.4. KONE CORPORATION
9.4.1. Company overview
9.4.2. Company snapshot
9.4.3. Business performance
9.4.4. Key strategic moves and developments
9.5. MITSUBISHI ELECTRIC CORPORATION
9.5.1. Company overview
9.5.2. Company snapshot
9.5.3. Business performance
9.5.4. Key strategic moves and developments
9.6. OTIS ELEVATOR COMPANY
9.6.1. Company overview
9.6.2. Company snapshot
9.6.3. Key strategic moves and developments
9.7. SHENYANG YUANDA INTELLECTUAL INDUSTRY GROUP CO., LTD.
9.7.1. Company overview
9.7.2. Company snapshot
9.7.3. Key strategic moves and developments
9.8. SCHINDLER HOLDING LTD.
9.8.1. Company overview
9.8.2. Company snapshot
9.8.3. Business performance
9.8.4. Key strategic moves and developments
9.9. THYSSENKRUPP AG
9.9.1. Company overview
9.9.2. Company snapshot
9.9.3. Business performance
9.9.4. Key strategic moves and developments
9.10. TOSHIBA ELEVATOR AND BUILDING SYSTEMS CORPORATION (TELC)
9.10.1. Company overview
9.10.2. Company snapshot
9.10.3. Business performance
9.10.4. Key strategic moves and developments
LIST OF TABLES
TABLE 1. COMPETITIVE LANDSCAPE
TABLE 2. GLOBAL ELEVATOR MODERNIZATION MARKET REVENUE, BY ELEVATOR TYPE, 2014-2022 ($MILLION)
TABLE 3. GLOBAL ELEVATOR MODERNIZATION MARKET REVENUE, BY COMPONENT, 2014-2022 ($MILLION)
TABLE 4. GLOBAL ELEVATOR MODERNIZATION MARKET BY CONTROLLER, 2014-2022 ($MILLION)
TABLE 5. GLOBAL ELEVATOR MODERNIZATION MARKET REVENUE, BY DOOR EQUIPMENT, 2014-2022 ($MILLION)
TABLE 6. GLOBAL ELEVATOR MODERNIZATION MARKET REVENUE, BY CABIN ENCLOSURE, 2014-2022 ($MILLION)
TABLE 7. GLOBAL ELEVATOR MODERNIZATION MARKET REVENUE, BY SIGNALING FIXTURE, 2014-2022 ($MILLION)
TABLE 8. GLOBAL ELEVATOR MODERNIZATION MARKET REVENUE, BY POWER UNIT, 2014-2022 ($MILLION)
TABLE 9. GLOBAL ELEVATOR MODERNIZATION MARKET REVENUE, BY OTHERS, 2014-2022 ($MILLION)
TABLE 10. GLOBAL ELEVATOR MODERNIZATION MARKET REVENUE, BY END USER, 2014-2022
TABLE 11. GLOBAL ELEVATOR MODERNIZATION MARKET REVENUE, RESIDENTIAL SECTOR, 2014-2022 ($MILLION)
TABLE 12. GLOBAL ELEVATOR MODERNIZATION MARKET REVENUE, COMMERCIAL SECTOR, 2014-2022 ($MILLION)
TABLE 13. GLOBAL ELEVATOR MODERNIZATION MARKET REVENUE, INDUSTRIAL SECTOR, 2014-2022 ($MILLION)
TABLE 14. ELEVATOR MODERNIZATION MARKET REVENUE, BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 15. NORTH AMERICAN ELEVATOR MODERNIZATION MARKET REVENUE, BY ELEVATOR TYPE, 2014-2022 ($MILLION)
TABLE 16. NORTH AMERICAN ELEVATOR MODERNIZATION MARKET REVENUE, BY COUNTRY, 2014-2022 ($MILLION)
TABLE 17. EUROPEAN ELEVATOR MODERNIZATION MARKET, BY ELEVATOR TYPE, 2014-2022 ($MILLION)
TABLE 18. EUROPEAN ELEVATOR MODERNIZATION MARKET, BY COUNTRY, 2014-2022 ($MILLION)
TABLE 19. ASIA-PACIFIC ELEVATOR MODERNIZATION MARKET REVENUE, BY ELEVATOR TYPE, 2014-2022 ($MILLION)
TABLE 20. ASIA-PACIFIC ELEVATOR MODERNIZATION MARKET REVENUE, BY COUNTRY, 2014-2022 ($MILLION)
TABLE 21. LAMEA ELEVATOR MODERNIZATION MARKET REVENUE, BY ELEVATOR TYPE, 2014-2022 ($MILLION)
TABLE 22. LAMEA ELEVATOR MODERNIZATION MARKET REVENUE, BY COUNTRY, 2014-2022 ($MILLION)
TABLE 23. FUJITEC CO., LTD.: COMPANY SNAPSHOT
TABLE 24. HITACHI, LTD.: COMPANY SNAPSHOT
TABLE 25. HYUNDAI ELEVATOR CO., LTD.: COMPANY SNAPSHOT
TABLE 26. KONE CORPORATION: COMPANY SNAPSHOT
TABLE 27. MITSUBISHI ELECTRIC CORPORATION: COMPANY SNAPSHOT
TABLE 28. OTIS ELEVATOR COMPANY: COMPANY SNAPSHOT
TABLE 29. SHENYANG YUANDA INTELLECTUAL INDUSTRY GROUP CO., LTD.: COMPANY SNAPSHOT
TABLE 30. SCHINDLER HOLDING LTD.: COMPANY SNAPSHOT
TABLE 31. THYSSENKRUPP AG: COMPANY SNAPSHOT
TABLE 32. TOSHIBA ELEVATOR AND BUILDING SYSTEMS CORPORATION (TELC): COMPANY SNAPSHOT
LIST OF FIGURES
FIGURE 1. SEGMENTATION
FIGURE 2. TOP WINNING STRATEGIES, 2013-2016 (%)
FIGURE 3. TOP WINNING STRATEGIES, 2013-2016
FIGURE 4. TOP INVESTMENT POCKETS
FIGURE 5. TOP IMPACTING FACTORS
FIGURE 6. PORTERS FIVE FORCES ANALYSIS
FIGURE 7. BARGAINING POWER OF BUYERS
FIGURE 8. BARGAINING POWER OF SUPPLIERS
FIGURE 9. DEGREE OF COMPETITION
FIGURE 10. THREAT OF NEW ENTRANTS
FIGURE 11. THREAT OF SUBSTITUTES
FIGURE 12. MARKET SHARE ANALYSIS, 2015 (%)
FIGURE 13. DRIVERS
FIGURE 14. RESTRAINTS
FIGURE 15. OPPORTUNITIES
FIGURE 16. GLOBAL ELEVATOR MODERNIZATION MARKET BY ELEVATOR TYPE, 2014-2022
FIGURE 17. GLOBAL ELEVATOR MODERNIZATION MARKET, BY COMPONENT, 2014-2022
FIGURE 18. GLOBAL ELEVATOR MODERNIZATION MARKET BY END USER, 2014 (%)
FIGURE 19. GLOBAL ELEVATOR MODERNIZATION MARKET, BY END USER, 2014-2022
FIGURE 20. ELEVATOR MODERNIZATION MARKET BY GEOGRAPHY, 2014
FIGURE 21. NORTH AMERICA ELEVATOR MODERNIZATION MARKET, 2014 (%)
FIGURE 22. U.S. ELEVATOR MODERNIZATION MARKET, 2014-2022
FIGURE 23. CANADA ELEVATOR MODERNIZATION MARKET, 2014-2022
FIGURE 24. MEXICO ELEVATOR MODERNIZATION MARKET, 2014-2022
FIGURE 25. EUROPEAN ELEVATOR MODERNIZATION MARKET, 2014 (%)
FIGURE 26. UK ELEVATOR MODERNIZATION MARKET, 2014-2022
FIGURE 27. GERMANY ELEVATOR MODERNIZATION MARKET, 2014-2022
FIGURE 28. FRANCE ELEVATOR MODERNIZATION MARKET, 2014-2022
FIGURE 29. ITALY ELEVATOR MODERNIZATION MARKET, 2014-2022
FIGURE 30. RUSSIAN ELEVATOR MODERNIZATION MARKET, 2014-2022
FIGURE 31. REST OF EUROPE ELEVATOR MODERNIZATION MARKET, 2014-2022
FIGURE 32. ASIA-PACIFIC ELEVATOR MODERNIZATION MARKET, 2014 (%)
FIGURE 33. CHINA ELEVATOR MODERNIZATION MARKET, 2014-2022
FIGURE 34. JAPAN ELEVATOR MODERNIZATION MARKET, 2014-2022
FIGURE 35. INDIAN ELEVATOR MODERNIZATION MARKET, 2014-2022
FIGURE 36. AUSTRALIAN ELEVATOR MODERNIZATION MARKET, 2014-2022
FIGURE 37. REST OF ASIA-PACIFIC ELEVATOR MODERNIZATION MARKET, 2014-2022
FIGURE 38. LAMEA ELEVATOR MODERNIZATION MARKET, 2014 (%)
FIGURE 39. LATIN AMERICAN ELEVATOR MODERNIZATION MARKET, 2014-2022
FIGURE 40. MIDDLE EAST ELEVATOR MODERNIZATION MARKET, 2014-2022
FIGURE 41. AFRICAN ELEVATOR MODERNIZATION MARKET, 2014-2022
FIGURE 42. FUJITEC CO., LTD: REVENUE BY YEAR ($MILLION)
FIGURE 43. FUJITEC CO., LTD.: SALES BY GEOGRAPHY, 2015-2016 (%)
FIGURE 44. HITACHI, LTD.: REVENUE BY YEAR
FIGURE 45. HITACHI, LTD.: SALES BY GEOGRAPHY, 2015-2016
FIGURE 46. HITACHI, LTD.: SALES BY BUSINESS, 2015-2016
FIGURE 47. HYUNDAI ELEVATOR CO., LTD.: REVENUE, BY YEAR ($MILLION)
FIGURE 48. KONE CORPORATION: SALES, BY YEAR ($MILLION)
FIGURE 49. KONE CORPORATION: SALES BY GEOGRAPHY, 2015 (%)
FIGURE 50. KONE CORPORATION: SALES BY BUSINESS, 2015 (%)
FIGURE 51. MITSUBISHI ELECTRIC CORPORATION: REVENUE, BY YEAR ($MILLION)
FIGURE 52. MITSUBISHI ELECTRIC CORPORATION: SALES BY GEOGRAPHY, 2015-2016 (%)
FIGURE 53. MITSUBISHI ELECTRIC CORPORATION: SALES BY BUSINESS, 2015-2016 (%)
FIGURE 54. SCHINDLER HOLDING LTD.: REVENUE BY YEAR ($MILLION)
FIGURE 55. SCHINDLER HOLDING LTD.: REVENUE BY GEOGRAPHY, 2015 (%)
FIGURE 56. THYSSENKRUPP AG: SALES BY YEAR ($MILLION)
FIGURE 57. THYSSENKRUPP AG: SALES BY GEOGRAPHY, 2015 (%)
FIGURE 58. THYSSENKRUPP AG: SALES BY BUSINESS, 2015 (%)
FIGURE 59. TOSHIBA ELEVATOR AND BUILDING SYSTEMS CORPORATION (TOSHIBA CORPORATION): SALES BY YEAR ($MILLION)
FIGURE 60. TOSHIBA ELEVATOR AND BUILDING SYSTEMS CORPORATION (TOSHIBA CORPORATION): SALES BY GEOGRAPHY, 2015-2016 (%)
FIGURE 61. TOSHIBA ELEVATOR AND BUILDING SYSTEMS CORPORATION (TOSHIBA CORPORATION): SALES BY BUSINESS, 2015-2016(%)
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