The most recent report by MarkNtel Advisors, titled “Global Elevator and Escalator Market By Type (Elevator, [Traction, Hydraulic, Machine Room Less], Escalator, [Moving Walkway, Moving Stairs]), By Service (New Installation, Modernization, Maintenance), By Application (Residential, Commercial, Industrial), Others, The Global Elevator and Escalator Market size was valued at around USD 125.5 billion in 2023 & is estimated to grow at a CAGR of around 7.8% during the forecast period, i.e., 2024-30. ” offers a comprehensive industry assessment and market outlook. This research presents an extensive overview of the present market conditions, encompassing market trends and the latest developments. The report delves deeply into aspects such as market size, market share, industry trends, forecasts, and the competitive landscape, providing a clear and well-supported depiction of the market through relevant statistical data.
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Global Elevator and Escalator Market Challenge:
Surging Number of Casualties Impeding Market Growth & Expansion – According to information from the Consumer Product Safety Commission and the U.S. Bureau of Labor Statistics, accidents involving elevators and escalators result in roughly 30 fatalities and 17,000 serious injuries annually in the United States at the year-end of 2022. Nearly 90% of fatalities and 60% of major injuries are caused by elevators. 14 (nearly half) of the annual deaths involve accidents while working on or near elevators, including constructing, repairing, and maintaining elevators, as well as operating in or near elevator shafts. Incidents involving workers caught in or between escalator and elevator moving parts, on platforms that collapse, or struck by escalators are numerous. Thus, these factors are negatively impacting market growth and are likely to hinder market growth & expansion during the forecast period.
What do you get in this report?
- Forecasts for the Global Elevator and Escalator Market, encompassing both well-established and emerging markets.
- An exploration of various market perspectives using Porter’s Five Forces analysis.
- Insights into the market sectors poised to dominate on a scale.
- Projections for regions expected to experience the most rapid growth during the forecast period.
- Examination of the latest developments, market shares, and marketing strategies employed by top competitors in the Global Elevator and Escalator industry.
- Factors influencing the overall market’s growth trajectory.
- Potential barriers to the market’s expansion in the coming years.
- An in-depth look at the competitive landscape and intricate insights into the potential business opportunities for key market players.
- Pricing strategies adopted by various participants within the Global Elevator and Escalator Market.
Stay ahead of the market competition:
The report integrates factual data, numerical figures, and market insights to generate revenue assessments and market projections. This is accomplished through a diverse array of statistical tools and the expertise of industry professionals. Each prominent player undergoes a comprehensive examination, which includes a SWOT analysis, a detailed profile, and a complementary Porter’s Five Forces analysis.
To seize emerging opportunities, key market participants have consistently been revaluating and adjusting their strategies and operational methods. Our analysis extends beyond major corporations to encompass regional small and medium-sized enterprises that hold significant roles and possess substantial growth potential. This approach allows us to accurately portray the level of competition within the industry.
This section provides detailed information about the key market participants: –
Fujitec Co. Ltd., Hitachi Elevator Engineering Company, KONE, Canny Elevator Company Ltd., Toshiba Elevator and Building Systems Corporation, Hyundai Elevator Co., Ltd., Mitsubishi Electric Corporation, ORONA, Otis Worldwide Corporation, Schindler Holding Ltd., ThyssenKrupp Elevator AG, SJEC Corp., Sigma Elevators, Walton group, Electra Elevators and others.
In-depth analysis of Global Elevator and Escalator Market Segmentation:
Our thorough analysis of market segmentation provides accurate and insightful data to assist our readers in making informed and strategic investment decisions. The research encompasses market forecasts at the global, regional, and national levels. It examines market trends within each market category for the years 2024 through 2030.
The Global Elevator and Escalator Market is highly fragmented and categorized into the following segments:
By Type
-Elevator
-Traction- Market Size & Forecast 2019-2030, (Thousand Units)
-Hydraulic- Market Size & Forecast 2019-2030, (Thousand Units)
-Machine Room Less- Market Size & Forecast 2019-2030, (Thousand Units)
-Escalator
-Moving Walkway- Market Size & Forecast 2019-2030, (Thousand Units)
-Moving Stairs- Market Size & Forecast 2019-2030, (Thousand Units)
By Service
-New Installation- Market Size & Forecast 2019-2030, (Thousand Units)
-Modernization- Market Size & Forecast 2019-2030, (USD Million)
-Maintenance- Market Size & Forecast 2019-2030, (USD Million)
By Application
-Residential- Market Size & Forecast 2019-2030, (Thousand Units)
-Commercial- Market Size & Forecast 2019-2030, (Thousand Units)
-Industrial- Market Size & Forecast 2019-2030, (Thousand Units)
By Region
-North America
-South America
-Europe
-The Middle East & Africa
-Asia-Pacific.
Key Questions:
- What are the particular strategies and constraints impacting market demand?
- How will patterns, challenges, and trends influence the expansion and extent of the market?
- Which market factors will contribute to the formulation of client and corporate strategies?
- What factors, such as rising demand and ongoing market developments, are exerting an influence?
- What level of growth potential or capacity does the market possess in the near future?
- Which region is likely to command the largest market share in the upcoming period?
- Among the market segments discussed, which ones might be exploring opportunities for further expansion?
About Us
MarkNtel Advisors is a leading market research company, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.
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