Elevator Modernization Market to 2025 - Global Analysis and Forecasts by Type (Hydraulic and Traction); Component (Power Units, Cabin Enclosures, Controllers, Signalling Fixtures, Door Equipment and Others); and End User (Industrial, Residential Building, Institutional, Marine, Commercial and Others)
- THE3206747
- 196 Pages
- December 2017
- Semiconductor and Electronics
One of the future trend that is prevailing in the market is the implementation of destination-based elevators, which are majorly used in the commercial buildings such as offices, malls and others. Such type of elevators is helpful in avoiding the huddling over the elevator doors in the peak hours. Furthermore, implementation of IoT in the elevator system will help the product for collecting and analyzing the data of elevator with the operators and manufacturers, and respond quickly in case of any problem in the elevator. These trends are further going to boost the demand for elevator modernization market in the coming years.
In our study, we have segmented the elevator modernization market by type, component and end-user. The type segment of elevator modernization market includes traction and hydraulic type elevators. Furthermore, the component segment has been subdivided into power units, cabin enclosures, controllers, signaling fixtures, door equipment, and others. The end-user of elevator modernization includes industrial, residential buildings, institutional, marine, commercial, and others. On the basis of geography, the elevator modernization market is analyzed into North America, Europe, Asia- Pacific (APAC), Middle East & Africa (MEA) and South America (SAM).
The global elevator modernization market is estimated to grow at a CAGR of 3.8% during the forecast period 2017 - 2025 and accounts for US$ 14,386.2 Mn in the year 2025. The growth of market for elevator modernization is highly influenced by the increasing need for a smooth and efficient mobility system inside buildings owing to increasing urbanization. Moreover, rising concern for safety in elevators in high rise buildings is also acting as a growth factor for elevator modernization market.
Geographically, Europe contributed the maximum market share in 2016 in the elevator modernization market, owing to high increase in the renovations in the region. Government of several countries are taking initiatives in the reconstruction of the older buildings for high rise buildings due to safety factors and also to increase foreign tourism and companies in the countries. Reconstructions are also being taken due to government initiatives for a safer and green infrastructure and saving new construction costs. These factors are anticipated to further propel the demand for elevator modernization in Europe region. Some of the global key players operating in the elevator modernization market are United Technologies Corporation, KONE Corporation, Schindler Holding Ltd., ThyssenKrupp AG, Fujitec Co. Ltd., and Hitachi Ltd. Electra Elevators, Hyundai Elevators Co. Ltd., Mitsubishi Electric Corporation, and Toshiba International Corporation are other key companies in the market.
1 Table of Contents 2
1.1 List of Tables 10
1.2 List of Figures 12
2 Introduction 16
2.1 Scope of the Study 16
2.2 The Insight Partners Research Report Guidance 16
3 Key Takeaways 18
4 Elevator modernization Market Landscape 21
4.1 Market Overview 21
4.2 Market Segmentation 22
4.2.1 Global Elevator modernization Market - By Type 23
4.2.2 Global Elevator modernization Market - By Component 23
4.2.3 Global Elevator modernization Market - By End-user 24
4.2.4 Global Elevator modernization Market - By Geography 24
4.3 PEST Analysis 26
4.3.1 North America PEST Analysis 26
4.3.2 Europe PEST Analysis 29
4.3.3 Asia Pacific PEST Analysis 32
4.3.4 Middle East & Africa PEST Analysis 35
4.3.5 South America PEST Analysis 38
5 Global Elevator Modernization Market - Key Industry Dynamics 40
5.1 Key Market Drivers 40
5.1.1 Need for a smooth and efficient mobility system inside buildings owing to increasing urbanization 40
5.1.2 Rising concerns of safety in elevators in high rise buildings 40
5.1.3 Ageing urban infrastructure and ageing global population driving elevator replacement with latest technology 41
5.2 Key Market Restraints 42
5.2.1 Design related issues concerned around modernization of elevators 42
5.2.2 Damages due to leakages in hydraulic elevators 42
5.3 Key Market Opporunities 43
5.3.1 Predictive maintenance service for elevators 43
5.4 Future Trends 44
5.4.1 Minimizations on downtimes of elevator systems 44
5.5 Impact Analysis of Drivers and Restraints 45
6 Elevator Modernization Market - Global 46
6.1 Global Elevator Modernization Market Overview 46
6.2 Global Elevator modernization Market Forecast and Analysis 47
7 Global Elevator modernization Market Analysis - By Type 48
7.1 Overview 48
7.2 Hydraulic 49
7.2.1 Overview 49
7.2.2 Global Hydraulic Market Revenue and Forecasts to 2025 (US$ Mn) 49
7.3 Traction 51
7.3.1 Overview 51
7.3.2 Global Traction Market Revenue and Forecasts to 2025 (US$ Mn) 51
8 Global Elevator Modernization Market Analysis - By Component 53
8.1 Overview 53
8.2 Power Units 54
8.2.1 Overview 54
8.2.2 Global Power Units Market Revenue and Forecasts to 2025 (US$ Mn) 54
8.3 Cabin Enclosures 56
8.3.1 Overview 56
8.3.2 Global Cabin Enclosures Market Revenue and Forecasts to 2025 (US$ Mn) 56
8.4 Controllers 57
8.4.1 Overview 57
8.4.2 Global Controllers Market Revenue and Forecasts to 2025 (US$ Mn) 57
8.5 Signaling Fixtures 59
8.5.1 Overview 59
8.5.2 Global Signaling Fixtures Market Revenue and Forecasts to 2025 (US$ Mn) 59
8.6 Door Equipment 61
8.6.1 Overview 61
8.6.2 Global Door Equipment Market Revenue and Forecasts to 2025 (US$ Mn) 61
8.7 Others 63
8.7.1 Overview 63
8.7.2 Global Others Market Revenue and Forecasts to 2025 (US$ Mn) 63
9 Global Elevator Modernization Market Analysis - By End-user 65
9.1 Overview 65
9.2 Industrial 66
9.2.1 Overview 66
9.2.2 Global Industrial Market Revenue and Forecasts to 2025 (US$ Mn) 66
9.3 Residential Building 67
9.3.1 Overview 67
9.3.2 Global Residential Building Market Revenue and Forecasts to 2025 (US$ Mn) 68
9.4 Institutional 69
9.4.1 Overview 69
9.4.2 Global Institutional Market Revenue and Forecasts to 2025 (US$ Mn) 69
9.5 Marine 70
9.5.1 Overview 70
9.5.2 Global Marine Market Revenue and Forecasts to 2025 (US$ Mn) 70
9.6 Commercial 72
9.6.1 Overview 72
9.6.2 Global Commercial Market Revenue and Forecasts to 2025 (US$ Mn) 72
9.7 Others 73
9.7.1 Overview 73
9.7.2 Global Others Market Revenue and Forecasts to 2025 (US$ Mn) 73
10 Global Elevator modernization Market - Geographical Analysis 75
10.1 Overview 75
10.2 North America Elevator Modernization Market Revenue and Forecasts to 2025 76
10.2.1 Overview 76
10.2.2 North America Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn) 77
10.2.3 North America Elevator Modernization Market Breakdown by Key Countries 78
10.2.3.1. US Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn) 79
10.2.3.2. Canada Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn) 80
10.2.3.3. Mexico Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn) 81
10.2.4 North America Elevator Modernization Market Breakdown by Type 82
10.2.5 North America Elevator Modernization Market Breakdown by Component 83
10.2.6 North America Elevator Modernization Market Breakdown by End-User 84
10.3 Europe Elevator Modernization Market Revenue and Forecasts to 2025 86
10.3.1 Overview 86
10.3.2 Europe Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn) 86
10.3.3 Europe Elevator Modernization Market Breakdown by Key Countries 88
10.3.3.1. France Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn) 89
10.3.3.2. Germany Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn) 90
10.3.3.3. Italy Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn) 91
10.3.3.4. Spain Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn) 92
10.3.3.5. UK Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn) 93
10.3.3.6. Rest of Europe Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn) 94
10.3.4 Europe Elevator Modernization Market Breakdown by Type 95
10.3.5 Europe Elevator Modernization Market Breakdown by Component 96
10.3.6 Europe Elevator Modernization Market Breakdown by End-User 97
10.4 Asia Pacific (APAC) Elevator Modernization Market Revenue and Forecasts to 2025 99
10.4.1 Overview 99
10.4.2 Asia Pacific Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn) 99
10.4.3 Asia Pacific Elevator Modernization Market Breakdown by Countries 100
10.4.3.1. China Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn) 101
10.4.3.2. India Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn) 102
10.4.3.3. Japan Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn) 103
10.4.3.4. Australia Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn) 104
10.4.3.5. Rest of APAC Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn) 105
10.4.4 Asia Pacific Elevator Modernization Market Breakdown by Type 106
10.4.5 Asia Pacific Elevator Modernization Market Breakdown by Component 108
10.4.6 Asia Pacific Elevator Modernization Market Breakdown by End-User 110
10.5 Middle East & Africa (MEA) Elevator Modernization Market Revenue and Forecasts to 2025 112
10.5.1 Overview 112
10.5.2 Middle East & Africa Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn) 112
10.5.3 Middle East & Africa Elevator Modernization Market Breakdown by Key Countries 114
10.5.3.1. Saudi Arabia Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn) 115
10.5.3.2. UAE Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn) 116
10.5.3.3. South Africa Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn) 117
10.5.3.4. Rest of MEA Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn) 118
10.5.4 Middle East & Africa Elevator Modernization Market Breakdown by Type 118
10.5.5 Middle East & Africa Elevator Modernization Market Breakdown by Component 120
10.5.6 Middle East & Africa Elevator Modernization Market Breakdown by End-User 121
10.6 South America Elevator Modernization Market Revenue and Forecasts to 2025 123
10.6.1 Overview 123
10.6.2 South America Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn) 123
10.6.3 South America Elevator Modernization Market Breakdown by Key Countries 125
10.6.3.1. Brazil Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn) 126
10.6.3.2. Rest of SAM Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn) 127
10.6.4 South America Elevator Modernization Market Breakdown by Type 128
10.6.5 South America Elevator Modernization Market Breakdown by Component 129
10.6.6 South America Elevator Modernization Market Breakdown by End-User 130
11 Industry Landscape 132
11.1 Market Initative 132
11.2 Merger and Acquisition 134
11.3 New Development 136
12 Competitive Landscape 138
12.1 Competitive Product Mapping 138
12.2 Market Positioning - Global Top 5 Players Ranking 140
13 Global Elevator modernization Market - Key Company Profiles 141
13.1 United Technologies Corporation 141
13.1.1 Key Facts 141
13.1.2 Business Description 141
13.1.3 Financial Overview 142
13.1.4 SWOT Analysis 142
13.1.5 Key Developments 145
13.2 KONE Corporation 148
13.2.1 Key Facts 148
13.2.2 Business Description 148
13.2.3 Financial Overview 149
13.2.4 SWOT Analysis 150
13.2.5 Key Developments 151
13.3 Schindler Holding Ltd. 154
13.3.1 Key Facts 154
13.3.2 Business Description 154
13.3.3 Financial Overview 155
13.3.4 SWOT Analysis 156
13.3.5 Key Developments 158
13.4 Thyssenkrupp AG 160
13.4.1 Key Facts 160
13.4.2 Business Description 160
13.4.3 Financial Overview 161
13.4.4 SWOT Analysis 162
13.4.5 Key Developments 164
13.5 Fujitec Co. Ltd. 166
13.5.1 Key Facts 166
13.5.2 Business Description 166
13.5.3 Financial Overview 167
13.5.4 SWOT Analysis 168
13.5.5 Key Developments 169
13.6 Hitachi Ltd. 170
13.6.1 Key Facts 170
13.6.2 Business Description 170
13.6.3 Financial Overview 171
13.6.4 SWOT Analysis 172
13.6.5 Key Developments 173
13.7 Electra Elevators 175
13.7.1 Key Facts 175
13.7.2 Business Description 175
13.7.3 Financial Overview 176
13.7.4 SWOT Analysis 176
13.7.5 Key Developments 178
13.8 Hyundai Elevator Co., Ltd. 179
13.8.1 Key Facts 179
13.8.2 Business Description 179
13.8.3 Financial Overview 179
13.8.4 SWOT Analysis 180
13.8.5 Key Developments 182
13.9 Mitsubishi Electric Corporation 183
13.9.1 Key Facts 183
13.9.2 Business Description 183
13.9.3 Financial Overview 184
13.9.4 SWOT Analysis 185
13.9.5 Key Developments 187
13.10 Toshiba International Corporation 188
13.10.1 Key Facts 188
13.10.2 Business Description 188
13.10.3 Financial Overview 189
13.10.4 SWOT Analysis 190
13.10.5 Key Developments 191
14 Appendix 192
14.1 About The Insight Partners 192
14.2 Glossary of Terms 193
14.3 Methodology 194
14.3.1 Coverage 194
14.3.2 Secondary Research 194
14.3.3 Primary Research 195
14.4 Contact Us 196
14.5 Disclaimer 196
1.1 List of Tables
Table 1: Global Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn) 47
Table 2: North America Elevator Modernization Market Revenue and Forecasts to 2025 - By Type (US$ Mn) 82
Table 3: North America Elevator Modernization Market Revenue and Forecasts to 2025 - By Component (US$ Mn) 83
Table 4: North America Elevator Modernization Market Revenue and Forecasts to 2025 - By End-User (US$ Mn) 85
Table 5: Europe Elevator Modernization Market Revenue and Forecasts to 2025 - By Type (US$ Mn) 95
Table 6: Europe Elevator Modernization Market Revenue and Forecasts to 2025 - By Component (US$ Mn) 96
Table 7: Europe Elevator Modernization Market Revenue and Forecasts to 2025 - By End-User (US$ Mn) 98
Table 8: Asia Pacific Elevator Modernization Market Revenue and Forecasts to 2025 - By Type (US$ Mn) 107
Table 9: Asia Pacific Elevator Modernization Market Revenue and Forecasts to 2025 - By Component (US$ Mn) 109
Table 10: Asia Pacific Elevator Modernization Market Revenue and Forecasts to 2025 - By End-User (US$ Mn) 110
Table 11: Middle East & Africa Elevator Modernization Market Revenue and Forecasts to 2025 - By Type (US$ Mn) 119
Table 12: Middle East & Africa Elevator Modernization Market Revenue and Forecasts to 2025 - By Component (US$ Mn) 120
Table 13: Middle East & Africa Elevator Modernization Market Revenue and Forecasts to 2025 - By End-User (US$ Mn) 122
Table 14: South America Elevator Modernization Market Revenue and Forecasts to 2025 - By Type (US$ Mn) 128
Table 15: South America Elevator Modernization Market Revenue and Forecasts to 2025 - By Component (US$ Mn) 129
Table 16: South America Elevator Modernization Market Revenue and Forecasts to 2025 - By End-User (US$ Mn) 131
Table 17: Glossary of Terms, Elevator modernization Market 193
1.2 List of Figures
Figure 1: Controllers Elevator modernization, Global Revenue (US$ Mn), 2016 & 2025 18
Figure 2: APAC Elevator modernization, Global Revenue (US$ Mn), 2016 & 2025 19
Figure 3: Commercial Elevator modernization Market, Global Revenue (US$ Mn), 2016 & 2025 20
Figure 4: Elevator modernization Market Segmentation 22
Figure 5: Elevator modernization Market Segmentation 23
Figure 6: North America PEST Analysis 26
Figure 7: Europe PEST Analysis 29
Figure 8: APAC PEST Analysis 32
Figure 9: MEA PEST Analysis 35
Figure 10: SAM PEST Analysis 38
Figure 11: Elevator Modernization Market Impact Analysis of Driver and Restraints 45
Figure 12: Global Elevator Modernization Market Breakdown By Type, 2016 & 2025 (%) 48
Figure 13: Hydraulic Market Revenue and Forecasts to 2025 (US$ Mn) 50
Figure 14: Traction Market Revenue and Forecasts to 2025 (US$ Mn) 52
Figure 15: Global Elevator Modernization Market Breakdown By Component, 2016 & 2025 (%) 53
Figure 16: Power Units Market Revenue and Forecasts to 2025 (US$ Mn) 55
Figure 17: Cabin Enclosures Market Revenue and Forecasts to 2025 (US$ Mn) 56
Figure 18: Controllers Market Revenue and Forecasts to 2025 (US$ Mn) 58
Figure 19: Signaling Fixtures Market Revenue and Forecasts to 2025 (US$ Mn) 60
Figure 20: Door Equipment Market Revenue and Forecasts to 2025 (US$ Mn) 62
Figure 21: Others Market Revenue and Forecasts to 2025 (US$ Mn) 64
Figure 22: Global Elevator Modernization Market Breakdown By End User, 2016 & 2025 (%) 65
Figure 23: Global Industrial Market Revenue and Forecasts to 2025 (US$ Mn) 67
Figure 24: Global Residential Building Market Revenue and Forecasts to 2025 (US$ Mn) 68
Figure 25: Global Institutional Market Revenue and Forecasts to 2025 (US$ Mn) 70
Figure 26: Global Marine Market Revenue and Forecasts to 2025 (US$ Mn) 71
Figure 27: Global Commercial Market Revenue and Forecasts to 2025 (US$ Mn) 73
Figure 28: Global Others Market Revenue and Forecasts to 2025 (US$ Mn) 74
Figure 29: Elevator Modernization Market, Global Breakdown by Regions, 2016 & 2025 (%) 75
Figure 30: North America Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn) 77
Figure 31: North America Elevator Modernization Market Breakdown by Key Countries, 2016 & 2025 (%) 78
Figure 32: US Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn) 79
Figure 33: Canada Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn) 80
Figure 34: Mexico Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn) 81
Figure 35: North America Elevator Modernization Market Breakdown by Type, 2016 & 2025 (%) 82
Figure 36: North America Elevator Modernization Market Breakdown by Component, 2016 & 2025 (%) 83
Figure 37: North America Elevator Modernization Market Breakdown by End-User, 2016 & 2025 (%) 84
Figure 38: Europe Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn) 87
Figure 39: Europe Elevator Modernization Market Breakdown by Key Countries, 2016 & 2025 (%) 88
Figure 40: France Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn) 89
Figure 41: Germany Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn) 90
Figure 42: Italy Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn) 91
Figure 43: Spain Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn) 92
Figure 44: UK Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn) 93
Figure 45: Rest of Europe Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn) 94
Figure 46: Europe Elevator Modernization Market Breakdown by Type, 2016 & 2025 (%) 95
Figure 47: Europe Elevator Modernization Market Breakdown by Component, 2016 & 2025 (%) 96
Figure 48: Europe Elevator Modernization Market Breakdown by End-User, 2016 & 2025 (%) 97
Figure 49: Asia Pacific Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn) 100
Figure 50: Asia Pacific Elevator Modernization Market Breakdown by Key Countries, 2016 & 2025 (%) 100
Figure 51: China Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn) 101
Figure 52: India Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn) 102
Figure 53: Japan Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn) 103
Figure 54: Australia Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn) 104
Figure 55: Rest of APAC Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn) 105
Figure 56: Asia Pacific Elevator Modernization Market Breakdown by Type, 2016 & 2025 (%) 106
Figure 57: Asia Pacific Elevator Modernization Market Breakdown by Component, 2016 & 2025 (%) 108
Figure 58: Asia Pacific Elevator Modernization Market Breakdown by End-User, 2016 & 2025 (%) 110
Figure 59: Middle East & Africa Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn) 113
Figure 60: Middle East & Africa Elevator Modernization Market Breakdown by Key Countries, 2016 & 2025 (%) 114
Figure 61: Saudi Arabia Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn) 115
Figure 62: UAE Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn) 116
Figure 63: South Africa Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn) 117
Figure 64: Rest of MEA Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn) 118
Figure 65: Middle East & Africa Elevator Modernization Market Breakdown by Type, 2016 & 2025 (%) 119
Figure 66: Middle East & Africa Elevator Modernization Market Breakdown by Components, 2016 & 2025 (%) 120
Figure 67: Middle East & Africa Elevator Modernization Market Breakdown by End-User, 2016 & 2025 (%) 121
Figure 68: South America Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn) 124
Figure 69: South America Elevator Modernization Market Breakdown by Key Countries, 2016 & 2025 (%) 125
Figure 70: Brazil Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn) 126
Figure 71: Rest of SAM Elevator Modernization Market Revenue and Forecasts to 2025 (US$ Mn) 127
Figure 72: South America Elevator Modernization Market Breakdown by Type, 2016 & 2025 (%) 128
Figure 73: South America Elevator Modernization Market Breakdown by Component, 2016 & 2025 (%) 129
Figure 74: South America Elevator Modernization Market Breakdown by End-User, 2016 & 2025 (%) 130
Figure 75: Elevator Modernization Market Competitive Product Mapping 138
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