Globally, the market for
elevator and elevator controls
is witnessing a growth owing to rising urbanization and increasing need for efficient people mobility solutions in high rise constructions. Continuing positive outlook for the construction industry is a huge market opportunity for new equipment whereas existing ageing infrastructure presents opportunities for the modernization service segment. The market structure of the global elevator market has historically witnessed a difference between the three segments of the business – new equipment, maintenance services and modernization. The new equipment market is consolidated at the global level, whereas the maintenance and modernization markets are geographically fragmented.
Integration of technologies for efficient mobility and reduced energy consumption is driving the innovation in elevator control market. Reduced waiting time of passengers, increased spending capabilities of customers in emerging markets and improvement in global economies are some of the major factors estimated to have a positive impact on the elevator market. However, high initial investment in the installation of elevators may impact the global market growth negatively.
This report identifies the
global elevator & elevator control market
size in for the year 2014-2016, and forecast of the same for year 2021. It also highlights the potential growth opportunities in the coming years, while also reviewing the market drivers, restraints, growth indicators, challenges, market dynamics, competitive landscape, and other key aspects with respect to global elevator & elevator control market.
Geographically North America is estimated to dominate the global elevator & elevator control market, followed by Europe. Asia-Pacific is estimated to witness the highest growth during the forecast period.
This report segments global elevator & elevator control market on the basis of type, by application, by control type, and regional market as follows:
- Global Elevator & Elevator Control Market, by Type: New Equipment, Maintenance Services and Modernization
- Global Elevator & Elevator Control Market, by Application: Residential, and Commercial
- Global Elevator & Elevator Control Market, by Control Type: Sensors, Switches and Others
- This report has been further segmented into major regions, which includes detailed analysis of each region such as: North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW) covering all the major country level markets in each of the region.
Sample Companies profiled in this Report are:
- Thyssenkrupp AG
- OTIS Elevator Company
- Kone Corporation
- Schindler Group
- Hitachi Ltd.