Reliable Data You Can Trust
Reliable Data You Can Trust
A recent
report published by Infinium Global Research on elevator market provides
in-depth analysis of segments and sub-segments in the global as well as
regional elevator market. The study also highlights the impact of drivers,
restraints, and macro indicators on the global and regional elevator market
over the short term as well as long term. The report is a comprehensive
presentation of trends, forecast and dollar values of global elevator market.
According to the report, the global elevator market is projected to grow at a
CAGR of 4.2% over the forecast period of 2019-2025.
Nowadays
elevators are becoming an essential part of buildings. Elevators require heavy
energy and power consumption due to which manufacturers are working on to
develop new elevators that are energy savers. The major players in the elevator
market are focusing on research and development to innovate new products and
adopting strategies such as mergers and acquisitions to expand their market
share. For instance, Mitsubishi Electric, in 2019, launched NEXIEZ-LITE MRL
Elevator in India. It is a machine room-less model that meets the need of the
Indian market.
The growing
real estate industry drives the growth of the elevator market. Elevators are an
essential part of today’s buildings and apartments. People want to save time in
this fast-moving lifestyle that boosts the growth of the elevator market. With
infrastructure development, there are huge buildings with a number of floors
that need an elevator. In addition, the rising geriatric population contributes
to the growth of the elevator market. The growing urban population and
increasing income levels stimulate the growth of the elevator market. On the
flip side, elevators require high consumption of energy and power and heavy
initial investments that restraints the growth of the elevator market.
Moreover, technological development creates opportunities for elevator
manufacturers to make innovations such as elevators working with magnetic
levitation.
Asia-Pacific
region is anticipated to be dominant in the elevator market. Asia-Pacific
region has a rising geriatric population and rapid industrial development that
contributes to the growth of the elevator market in the Asia-Pacific region.
Europe is expected to grow in the elevator market. North America is growing in
the elevator market owing to strict building and safety rules.
The report on
global elevator market covers segments such as deck type, destination control,
application, and end user. On the basis of deck type, the sub-markets include
single, and double. On the basis of destination control, the sub-markets
include smart, and conventional. On the basis of application, the sub-markets
include passenger, and freight. On the basis of end user, the sub-markets
include residential, commercial, institutional, and other end users.
The report
provides profiles of the companies in the market such as KONE Oyj, Otis
Elevator Company, Hitachi, Ltd., Electra Elevators, Schindler Group, LG
Elevator, Mitsubishi Electric Corporation, Toshiba Corporation, Marshall
Elevator, Fujitec Co., Ltd., and Other Companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of elevator market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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