Elevators Modernization Market By Type 2023 | IndustryARC
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Elevators Modernization Market
Elevators Modernization Market: By Type (Hydraulic, Traction, Pneumatic, Climbing); By Component type (Controllers, Door equipment, cabin enclosures, signaling fixtures, power units, oil & grease, full/complete preventive); By modernization type (full, partial); By End-user (Residential buildings, commercial, marine, industrial, institutional, construction) By Geography - (2018-2023)
Report Code : AIR 0058
Updated Date: 09 May, 2018  
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  • Report Description
  • Table of Contents
  • Tables And Figures
  • Customization Options
1. Elevator Modernization Market Overview
2. Executive Summary
3. Elevator Modernization Market Landscape
   3.1. Market Share Analysis
   3.2. Comparative Analysis
      3.2.1. Product Benchmarking
      3.2.2. End User profiling
      3.2.3. Patent Analysis
      3.2.4. Top 5 Financials Analysis
4. Elevator Modernization Market Forces
   4.1. Market Drivers
   4.2. Market Constraints
   4.3. Market Challenges
   4.4. Attractiveness of the Industry
      4.4.1. Power of Suppliers
      4.4.2. Power of Customers
      4.4.3. Threat of New entrants
      4.4.4. Threat of Substitution
      4.4.5. Degree of Competition
5. Elevator Modernization Market – Strategic Analysis
   5.1. Value Chain Analysis
   5.2. Pricing Analysis
   5.3. Opportunities Analysis
   5.4. Product/Market Life Cycle Analysis
   5.5. Suppliers and Distributors
6. U.S. Elevator modernization and maintenance market-By elevator type
   6.1. Hydraulic
      6.1.1. Conventional hydraulic elevators
      6.1.2. Hole-less hydraulic elevators
      6.1.3. Roped hydraulic elevators
   6.2. Traction
      6.2.1. Geared traction elevators
      6.2.2. Gear-less traction elevators
      6.2.3. Machine room less elevators
   6.3. Climbing elevator
   6.4. Pneumatic elevator/vacuum elevator
7. U.S. Elevator modernization and maintenance Market - By Component Type
   7.1. Introduction
   7.2. Controllers
      7.2.1. Relay based
      7.2.2. Solid state
      7.2.3. PLC
   7.3. Door equipment
   7.4. Cabin enclosures
   7.5. Signaling fixtures
   7.6. Power units
   7.7. Oil and grease
   7.8. Full/complete preventive
   7.9. Usage
8. U.S. Elevator modernization and maintenance Market - By Modernization Type
   8.1. Introduction
   8.2. Partial modernization
   8.3. Full modernization
9. U.S. Elevator modernization and maintenance Market – By End-user
   9.1. Introduction
   9.2. Residential buildings
   9.3. Commercial
      9.3.1. Malls
      9.3.2. Hotels
      9.3.3. Offices
   9.4. Marine
   9.5. Industrial
   9.6. Institutional
   9.7. Construction
   9.8. others
10. Elevator Modernization Substrate Market - By Geography
   10.1. North America 
      10.1.1. U.S.  
      10.1.2. Canada 
      10.1.3. Mexico 
      10.1.4. Rest of North America
   10.2. South America 
      10.2.1. Brazil 
      10.2.2. Venezuela
      10.2.3. Argentina
      10.2.4. Ecuador
      10.2.5. Peru
      10.2.6. Colombia 
      10.2.7. Costa Rica
      10.2.8. Rest of South America
   10.3. Europe 
      10.3.1. U.K 
      10.3.2. Germany 
      10.3.3. Italy 
      10.3.4. France
      10.3.5. Netherlands
      10.3.6. Belgium
      10.3.7. Spain
      10.3.8. Denmark
      10.3.9. Rest of Europe
   10.4. APAC
      10.4.1. China 
      10.4.2. Australia 
      10.4.3. South Korea
      10.4.4. India
      10.4.5. Taiwan
      10.4.6. Malaysia
      10.4.7. Hong Kong  
      10.4.8. Rest of APAC
   10.5. Middle East& Africa 
      10.5.1. Israel
      10.5.2. South Africa
      10.5.3. Saudi Arabia
   10.6. Rest of Middle East and Africa
11. Market Entropy
   11.1. New Product Launches
   11.2. M&As, Collaborations, JVs, Partnership
12. Company Profiles (Overview, Financials, SWOT Analysis, Developments, Product Portfolio)
   12.1. KONE
   12.2. Invetigo
   12.3. Otis
   12.4. Schindler
   12.5. Mitsubishi
   12.6. Thyssenkrup
   12.7. Company 7
   12.8. Company 8
   12.9. Company 9
*More than 10 Companies are profiled in this Research Report*
"*Financials would be provided on a best efforts basis for private companies"
13. Appendix
   13.1. Abbreviations
   13.2. Sources
   13.3. Research Methodology
   13.4. Bibliography
   13.5. Compilation of Expert Insights
   13.6. Disclaimer
The global Elevator modernization Market generated revenue of $9,781.4m in 2017 and is projected to reach $12,832.8m in 2023 growing at a CAGR of 4.63%. Europe holds the largest market share of 35% followed by America. By component Controllers holds the largest market share of $3439.1m in 2017 and is estimated to reach $4,686.1m growing at CAGR of 5.29%. Increase in technological advancements and safety regulations are projected to drive the elevator modernization market.

What is Elevator modernization?
A vertical transportation for raising and lowering people or things to different levels in a modernized building is an elevator. There are two types of elevators traction and hydraulic. Elevator modernization include two different forms partial modernization and full modernization. 
Elevator modernization is a process of upgrading the critical parts of the elevator in order for it to handle new technology, have better performance, improve safety, and give the aesthetics an up to date appeal

What are the major applications for Elevator Modernization?
Elevator modernization is about updating old components with the latest technologies for modern vertical transportation. It helps to move traffic efficiently while enhancing safety and comfort. Made easy for the end-user to travel vertically in their comfort zone. Modernization helps in increasing the life of existing elevators and offers cost effective solutions. Modernization includes complete replacement of existing control stations, cabin interiors, doors, signaling features, electric connections and others.

Elevators Modernization Market

Market Research and Market Trends of Elevator modernization
  • ThyssenKrupp one of the leading player in the elevator industry introduced a TWIN elevator, this system has two cars arranged on top of each other that can operate independently in one hoist way. This system reduces energy consumption and can handle more traffic. TWIN saves space, saves energy and reduces passenger travel time.
  • Another innovation named HoloLens in the elevator industry. This is the virtual reality headset changing the way mechanics do elevator repairs. These devices help mechanics identify a problem without climbing tens of floors. Once the mechanic put on the glasses, he can use hand motions to go close and explore the individual parts and individual engines. The view can also be widened, allowing the mechanic to do a virtual walk through looking for places where repairs or replacement are needed.
  • The new direction in elevator technology which uses light weight carbon materials for cabins and doors will reduce the weight of elevators by 50%.  Growing green building market facilitating the installation of energy efficient elevators which uses less energy and are more compact and efficient helps in boosting the market growth.
  • Lift manufacturers are manufacturing elevators with high speeds of 4,000ft per minute. Manufacturers including Hitachi, Toshiba and Mitsubishi have been forced to make technological strides, using new motors and high-tech air pressure systems that allow them to transport people faster and higher than ever before in order to keep pace with the bigger buildings.

Who are the Major Players in Elevator modernization market?
The companies referred in the market research report includes KONE, Invetigo, Otis, Schindler, Mitsubishi, Thyssenkrup.

What is our report scope?
The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2018-2024.

All our reports are customizable to your company needs to a certain extent, we do provide 20 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.

Key Takeaways from this Report
  • Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level – for product types, end use applications and by different industry verticals.
  • Understand the different dynamics influencing the market – key driving factors, challenges and hidden opportunities.
  • Get in-depth insights on your competitor performance – market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
  • Analyze the sales and distribution channels across key geographies to improve top-line revenues.
  • Understand the industry supply chain with a deep-dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes. 
  • Get a quick outlook on the market entropy – M&A’s, deals, partnerships, product launches of all key players for the past 4 years. 
  • Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market. 
List of Tables:

Table 1: Product Benchmarking for the TOP Five Companies in Elevator Modernization Market
Table 2: Financial Analysis for the Top Five companies in the Elevator Modernization market, 2015
Table 3: Elevator Modernization Market Revenues, By Components, 2015-2021 ($Million)
Table 4: Elevator Modernization Market Volume, By Components, 2015-2021 (Units)
Table 5: Expected Life of Elevator Components
Table 6: Elevator Modernization Market Revenues, By Modernization Type 2015-2021 ($Million)
Table 7: Elevator Modernization Market Revenues, By End-Users, 2015-2021 ($Million)
Table 8: Elevator Modernization Market Volume, By End-Users, 2015-2021 (Units)
Table 9: Global Elevator Modernization Market Revenues, By Geography, 2015-2021 ($Million)
Table 10: Global Elevator Modernization Market Volume, By Geography, 2015-2021 (Units)
Table11: Americas Elevator Modernization Market Revenue, By Modernization Type, 2015-2021 ($Million)
Table 12: Americas Elevator Modernization Market Revenue, By Components, 2015-2021 ($Million)
Table 13: Americas Elevator Modernization Market Revenue, By End-users, 2015-2021 ($Million)
Table 14: Americas Elevator Modernization Market Volume, By End-users, 2015-2021 (Units)
Table 15: U.S. Elevator Modernization Market Revenues, By End-Users, 2015-2021 ($Million)
Table 16: U.S. Elevator Modernization Market Volume, By End-Users, 2015-2021 (Units)
Table 17: Canada, Elevator Modernization Market Revenues, By End-Users, 2015-2021 ($Million)
Table 18: Canada, Elevator Modernization Market Volume, By End-Users, 2015-2021 (Units)
Table 19: Brazil, Elevator Modernization Market Revenues, By End-Users, 2015-2021 ($Million)
Table 20: Brazil, Elevator Modernization Market Volume, By End-Users, 2015-2021 (Units)
Table 21: Mexico, Elevator Modernization Market Revenues, By End-Users, 2015-2021 ($Million)
Table 22: Mexico, Elevator Modernization Market Volume, By End-Users, 2015-2021 (Units)
Table 23: Others, Elevator Modernization Market Revenues, By End-Users, 2015-2021 ($Million)
Table 24 : Others, Elevator Modernization Market Volume, By End-Users, 2015-2021 (Units)
Table 25: Europe, Elevator Modernization Market Revenues, By Modernization Type, 2015-2021 ($Million)
Table 26: Europe, Elevator Modernization Market Revenues, By Components, 2015-2021 ($Million)
Table 27: Europe, Elevator Modernization Market Revenues, By End-Users, 2015-2021 ($Million)
Table 28: Europe, Elevator Modernization Market Volume, By End-Users, 2015-2021 (Units)
Table 29: U.K. Elevator Modernization Market Revenues, By Modernization Type, 2015-2021 ($Million)
Table 30: U.K. Elevator Modernization Market Revenues, By Components, 2015-2021 ($Million)
Table 31: U.K. Elevator Modernization Market Revenues, By End-Users, 2015-2021 ($Million)
Table 32: U.K. Elevator Modernization Market Volume, By End-Users, 2015-2021 (Units)
Table 33: France, Elevator Modernization Market Revenues, By Modernization Type, 2015-2021 ($Million)
Table 34: France, Elevator Modernization Market Revenues, By Components, 2015-2021 ($Million)
Table 35: France, Elevator Modernization Market Revenues, By End-Users, 2015-2021 ($Million)
Table 36: France, Elevator Modernization Market Volume, By End-Users, 2015-2021 (Units)
Table 37: Germany, Elevator Modernization Market Revenue, By Modernization Type, 2015-2021 ($Million)
Table 38: Germany, Elevator Modernization Market Revenue, By Components, 2015-2021 ($Million)
Table 39: Germany, Elevator Modernization Market Revenue, By End-users, 2015-2021 ($Million)
Table 40: Germany, Elevator Modernization Market Volume, By End-Users, 2015-2021 (Units)
Table 41: Others, Elevator Modernization Market Revenue, By Modernization Type, 2015-2021 ($Million)
Table 42: Others, Elevator Modernization Market Revenue, By Components, 2015-2021 ($Million)
Table 43: Others, Elevator Modernization Market Revenue, By End-Users, 2015-2021 ($Million)
Table 44: Others, Elevator Modernization Market Volume, By End-Users, 2015-2021 (Units)
Table 45: APAC, Elevator Modernization Market Revenue, By Modernization Type, By 2015-2021 ($Million)
Table 46: APAC, Elevator Modernization Market Revenue, By Components, By 2015-2021 ($Million)
Table 47: APAC, Elevator Modernization Market Revenue, By End-Users, By 2015-2021 ($Million)
Table 48: APAC, Elevator Modernization Market Volume, By End-Users, By 2015-2021 (Units)
Table 49: China, Elevator Modernization Market Revenue, By Modernization Type, 2015-2021 ($Million)
Table 50: China, Elevator Modernization Market Revenue, By Components, 2015-2021 ($Million)
Table 51: China, Elevator Modernization Market Revenue, By End-Users, 2015-2021 ($Million)
Table 52: China, Elevator Modernization Market Volume, By End-Users, 2015-2021 (Units)
Table 53: India, Elevator Modernization Market Revenue, By Modernization Type, 2015-2021 ($Million)
Table 54: India, Elevator Modernization Market Revenue, By Components, 2015-2021 ($Million)
Table 55: India, Elevator Modernization Market Revenue, By End-Users, 2015-2021 ($Million)
Table 56: India, Elevator Modernization Market Volume, By End-Users, 2015-2021 (Units)
Table 57: Japan, Elevator Modernization Market Revenue, By Modernization Type, 2015-2021 ($Million)
Table 58: Japan, Elevator Modernization Market Revenue, By Components, 2015-2021 ($Million)
Table 59: Japan, Elevator Modernization Market Revenue, By End-Users, 2015-2021 ($Million)
Table 60: Japan, Elevator Modernization Market Volume, By End-Users, 2015-2021 (Units)
Table 61: South Korea, Elevator Modernization Market Revenue, By Modernization Type, 2015-2021 ($Million)
Table 62: South Korea, Elevator Modernization Market Revenue, By Components, 2015-2021 ($Million)
Table 63: South Korea, Elevator Modernization Market Revenue, By End-Users, 2015-2021 ($Million)
Table 64: South Korea, Elevator Modernization Market Volume, By End-Users, 2015-2021 (Units)
Table 65: Others, Elevator Modernization Market Revenue, By Modernization Type, 2015-2021 ($Million)
Table 66: Others, Elevator Modernization Market Revenue, By Components, 2015-2021 ($Million)
Table 67 : Others, Elevator Modernization Market Revenue , By End-User, 2015-2021 ($Million)
Table 68: Others, Elevator Modernization Market Volume, By End-User, 2015-2021 (Units)
Table 69: RoW , Elevator Modernization Market Revenue, By Modernization Type, 2015-2021 ($Million)
Table 70: ROW, Elevator Modernization Market Revenue, By Components, 2015-2021 ($Million)
Table 71: RoW, Elevator Modernization Market Revenue, By End-Users, 2015-2021 ($Million)
Table 72: ROW , Elevator Modernization Market Volume, By End-Users, 2015-2021 (Units)
Table 73: Middle East, Elevator Modernization Market Revenue, By Modernization Type, 2015-2021 ($Million)
Table 74: Middle East, Elevator Modernization Market Revenue, By Components, 2015-2021 ($Million)
Table 75: Middle East , Elevator Modernization Market Revenue, By End-Users, 2015-2021 ($Million)
Table 76: Middle East, Elevator Modernization Market Volume, By End-Users, 2015-2021 (Units)
Table 77: Africa, Elevator Modernization Market Revenue, By Modernization Type, 2015-2021 ($Million)
Table 78: Africa, Elevator Modernization Market Revenue, By Components, 2015-2021 ($Million)
Table 79: Africa, Elevator Modernization Market Revenue, By End-Users, 2015-2021 ($Million)
Table 80: Africa, Elevator Modernization Market Volume, By End-Users, 2015-2021 (Units)
Table 81 : Elevators Modernization Market: Major Acquisitions, 2012-2016*
Table 82: Elevators Modernization Market: Major Expansions and Joint Ventures, 2012-2016*


List of Figures:

Figure 1: Elevator Modernization Market – Classification – By Elevator Type
Figure 2 Elevator Modernization Market – Classification – By component Type
Figure 3: Elevator Modernization Market – Classification – By Modernization Type
Figure 4: Elevator Modernization Market – classification – End Users
Figure 5 Elevator Modernization Market – classification – By Geography
Figure 6: Global Elevator Modernization Market Segmentation, By Subsystems, 2015 (%)
Figure 7: Global Elevator Modernization Market Share, By Geographic Region, 2015 (%)
Figure 8: Global Elevator Modernization Market Share Analysis, 2015(%)
Figure 9: Global Elevators Modernization Market Share, By End Users,2015 (%)
Figure 10: Elevator Modernization Market PATENT ANALYSIS, Number of Patents, 2012-2015
Figure 11: Elevator Modernization Market – Patent Analysis, By Company 2012-2015 (%)
Figure 12: Elevator Modernization Market Value Chain Analysis
Figure 13: Elevator Modernization, Pricing Analysis, By Building Type ($)
Figure 14: Elevator Modernization, Pricing Analysis, By Region, 2003-2021* ($’000s)
Figure 15: Global Elevators Product Life Cycle Analysis
Figure 16: Global Elevators Modernization Market Life Cycle Analysis
Figure 17: Global Elevator Modernization Market, By controllers, 2015-2021 ($Million)
Figure 18: Global Elevator Modernization Market, By Door Equipment, 2015-2021 ($Million)
Figure 19: Global Elevator Modernization Market, By Cabin Enclosure, 2015-2021 ($Million)
Figure 20: Global Elevator Modernization Market, By Signaling Equipment, 2015-2021 ($Million)
Figure 21: Global Elevator Modernization Market, By Power Units, 2015-2021 ($Million)
Figure 22: Global Elevator Modernization Market, By Others, 2015-2021 ($Million)
Figure 23: Global Elevator Modernization Market, By Partial Modernization, 2015-2021 ($Million)
Figure 24: Global Elevator Modernization Market, By Full Modernization, 2015-2021 ($Million)
Figure 25: Global Elevator Modernization Market, By Residential, 2015-2021 ($Million)
Figure 26: Global Elevator Modernization Market, By Commercial, 2015-2021 ($Million)
Figure 27: Global Elevator Modernization Market, By Marine, 2015-2021 ($Million)
Figure 28: Global Elevator Modernization Market, By Industrial, 2015-2021 ($Million)
Figure 29: Global Elevator Modernization Market, By Institutional, 2015-2021 ($Million)
Figure 30: Global Elevator Modernization Market, By Transportation, 2015-2021 ($Million)
Figure 31: Global Elevator Modernization Market, By Others, 2015-2021 ($Million)
Figure 32: U.S. Elevator Modernization Market Revenue, 2015-2021 ($Million)
Figure 33: Canada, Elevator Modernization Market Revenue, 2015-2021 ($Million)
Figure 34: Brazil, Elevator Modernization Market Revenue 2015-2021 ($Million)
Figure 35: Mexico, Elevator Modernization Market Revenue, 2015-2021 ($Million)
Figure 36: Others, Elevator Modernization Market Revenue, 2015-2021 ($Million)
Figure 37: U.K., Elevator Modernization Market Revenues, 2015-2021 ($Million)
Figure 38: France, Elevator Modernization Market Revenue, 2015-2021 ($Million)
Figure 39: Germany, Elevator Modernization Market Revenue, 2015-2021 ($Million)
Figure 40: Others, Elevator Modernization Market Revenue, 2015-2021 ($Million)
Figure 41: China, Elevator Modernization Market Revenue, 2015-2021 ($Million)
Figure 42: India, Elevator Modernization Market Revenue, 2015-2021 ($Million)
Figure 43: Japan, Elevator Modernization Market Revenue, 2015-2021 ($Million)
Figure 44: South Korea, Elevator Modernization Market Revenue, 2015-2021 ($Million)
Figure 45: Others, Elevator Modernization Market Revenue, 2015-2021 ($Million)
Figure 46: Middle East, Elevator Modernization Market Revenue, 2015-2021 ($Million)
Figure 47: Africa, Elevator Modernization Market Revenue, 2015-2021 ($Million)
Figure 48: Elevators Modernization Market, Strategy Share, 2012-2016* (%)
Figure 49: Elevators Modernization Market, Strategic Share, By Company, 2011-2016* (%)
Figure50: KONE Oyj B: Total Revenue, 2012-2015 ($Million)
Figure 51 : KONE Oyj B: Annual Revenue, By Segment, 2015 (%)
Figure52: KONE Oyj B: Annual Revenue, By Region, 2015 (%)
Figure 53: Schindler Group: Total Revenue, 2012-2015 ($Million)
Figure 54: Schindler Group: Annual Revenue, By Region, 2015 (%)
Figure 55: OTIS, Annual Revenue, 2012 – 2014 ($Million)
Figure 56: United Technologies Corporation: Annual Revenue, By Segment, 2015 (%)
Figure 57: ThyssenKrupp Elevator AG, Total Revenue, 2013-2016 ($Billion)
Figure 58: ThyssenKrupp Elevator AG, Annual Revenue, By Business segment, 2015 (%)
Figure 59: ThyssenKrupp Elevator AG, Annual Revenue, By Geography, 2015 (%)
Figure 60: Mitsubishi Electric: Total Revenue, 2013-2016* ($Billion)
Figure 61: Mitsubishi Electric: Total Revenue, by Segments, 2015 (%)
Figure 62: Fujitec co., Ltd, Total Revenue, 2013-2015 ($Billion)
Figure 63: Fujitec co., Ltd, Annual Revenue, By Geography, 2015(%)
Figure 64: COLUMBUS McKinnon, Total Revenue, 2013-2015($Million)
Figure 65: COLUMBUS McKinnon. Total Revenue, by Geography 2015(%)
Figure 66: Magnetek Inc. Total Revenue, by product, 2015(%)
Figure 67: Hyundai Elevators, Total Revenue, 2012-2014($Million)
Figure 68: Hitachi Ltd, Annual Revenue, 2012-2014 ($Billion)
Figure 69: Hitachi Group, Total Revenue, by Geography, 2015(%)
Figure 70: Hitachi Group: Total Revenue, by Segments, 2014 (%)
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