Market Overview:
The global commercial smart elevators market is expected to grow at a CAGR of 5.8% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for smart elevators in residential, commercial, and industrial applications. Additionally, the growing awareness about energy efficiency and safety is also propelling the demand for commercial smart elevators globally. Based on type, the global commercial smart elevators market can be segmented into loading 800kg, loading 1000kg, loading 1250kg, loading 1600kg and other segments. Loading 800kg is expected to hold a major share of the global market due to its low installation cost as compared to other types of load capacities.
Product Definition:
Commercial Smart Elevators are elevators that have been specifically designed for use in commercial buildings, such as office towers and shopping malls. They are typically larger than residential elevators, and can accommodate more passengers. Commercial Smart Elevators also feature advanced security features, such as keycard readers and camera surveillance, to help protect against vandalism and theft. The importance of Commercial Smart Elevators lies in their ability to provide safe and efficient transportation for large numbers of people in a busy commercial setting.
Loading 800kg:
loading 800 kg is a term used for the weight of elevator car that can carry up to 800 kg of load. It is one of the important factors considered while calculating safety, capacity and efficiency in elevators.
Efficiency in elevators depends on various parameters such as payload, distance travelled and speed among others. The more significant factor however is payload or cargo carried by an elevator which defines its carrying capacity or loading 1000 kg (max).
Loading 1000kg:
The 1000kg loading is used in commercial smart elevators to carry the goods up and down with ease. These elevators are equipped with a control system that monitors the weight, speed, and distance of each package. The advanced technology used in these systems makes sure that no damage is caused to the goods being transported.
Application Insights:
The residential segment accounted for the largest share of over 70.0% in 2017 and is expected to continue its dominance over the forecast period. The growing urban population coupled with rising real estate prices has led to an increase in demand for commercial smart elevators across the residential buildings, thereby driving their adoption across this application segment.
Commercial applications include offices, shopping malls, hotels and hospitals among others. These installations are required to carry heavy loads of up to 1600kg owing to which they are preferred by major building owners such as office complexes and shopping malls that require these services on a regular basis throughout the day due to high footfall traffic leading them towards installing commercial smart elevators system as compared with residential ones where service is required only during peak hours or special events when large number of people gather at a particular place resulting into preferring systems that can provide enhanced convenience along with improved operational efficiency at a lower cost without compromising on safety requirements which further drives their adoption across various commercial applications globally.
Regional Analysis:
Asia Pacific dominated the global commercial smart elevators market in 2017. The region is expected to witness significant growth over the forecast period owing to increasing construction activities and rising demand for high rise residential buildings in countries such as China, India, Japan, Indonesia and South Korea. In addition, factors such as growing population and rapid urbanization are anticipated to drive regional product demand over the next eight years.
The Asia Pacific region is characterized by a large number of elevator manufacturers who offer products at competitive prices with good quality control standards. Furthermore, government initiatives encouraging foreign direct investments coupled with favorable regulations aimed at promoting innovation within each country are likely to boost industry expansion rates during the forecast period from 2018 to 2030 (see Table 1). For instance; In 2016 ‘Make in India’ campaign was introduced by Indian prime minister Narendra Modi which aims at manufacturing products both within and outside country's borders thereby creating opportunities for manufacturers operating in this space (see Figure 1).
Growth Factors:
- Increasing demand for smart elevators from the commercial sector on account of their energy efficiency and safety features.
- Growing installation of smart elevators in new construction projects across the globe.
- Rising awareness about the benefits of using smart elevators among commercial users, which is likely to boost market growth over the forecast period.
- Proliferation of advanced technologies such as IoT and big data that are aiding in the development of smarter elevator systems, thereby driving market demand growth further over time.
Scope Of The Report
Report Attributes
Report Details
Report Title
Commercial Smart Elevators Market Research Report
By Type
Loading 800kg, Loading 1000kg, Loading 1250kg, Loading 1600kg, Other
By Application
Residential, Commercial, Industrial, Institutional
By Companies
Otis, Kone, ThyssenKrupp, Schindler, Mitsubishi Electric, Toshiba, Hitachi, Fujitec, Hyundai
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
128
Number of Tables & Figures
90
Customization Available
Yes, the report can be customized as per your need.
Global Commercial Smart Elevators Market Report Segments:
The global Commercial Smart Elevators market is segmented on the basis of:
Types
Loading 800kg, Loading 1000kg, Loading 1250kg, Loading 1600kg, Other
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Residential, Commercial, Industrial, Institutional
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Otis
- Kone
- ThyssenKrupp
- Schindler
- Mitsubishi Electric
- Toshiba
- Hitachi
- Fujitec
- Hyundai
Highlights of The Commercial Smart Elevators Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Loading 800kg
- Loading 1000kg
- Loading 1250kg
- Loading 1600kg
- Other
- By Application:
- Residential
- Commercial
- Industrial
- Institutional
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Commercial Smart Elevators Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Commercial Smart Elevators are elevators that have been specifically designed to meet the needs of businesses. These elevators typically have features such as enhanced security, faster loading times, and more efficient use of space. They can also be customized to match the specific needs of a business.
Some of the key players operating in the commercial smart elevators market are Otis, Kone, ThyssenKrupp, Schindler, Mitsubishi Electric, Toshiba, Hitachi, Fujitec, Hyundai.
The commercial smart elevators market is expected to grow at a compound annual growth rate of 5.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Commercial Smart Elevators Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Commercial Smart Elevators Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Commercial Smart Elevators Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Commercial Smart Elevators Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Commercial Smart Elevators Market Size & Forecast, 2020-2028
4.5.1 Commercial Smart Elevators Market Size and Y-o-Y Growth
4.5.2 Commercial Smart Elevators Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Loading 800kg
5.2.2 Loading 1000kg
5.2.3 Loading 1250kg
5.2.4 Loading 1600kg
5.2.5 Other
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Residential
6.2.2 Commercial
6.2.3 Industrial
6.2.4 Institutional
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Commercial Smart Elevators Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Commercial Smart Elevators Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Loading 800kg
9.6.2 Loading 1000kg
9.6.3 Loading 1250kg
9.6.4 Loading 1600kg
9.6.5 Other
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Residential
9.10.2 Commercial
9.10.3 Industrial
9.10.4 Institutional
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Loading 800kg
10.6.2 Loading 1000kg
10.6.3 Loading 1250kg
10.6.4 Loading 1600kg
10.6.5 Other
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Residential
10.10.2 Commercial
10.10.3 Industrial
10.10.4 Institutional
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Loading 800kg
11.6.2 Loading 1000kg
11.6.3 Loading 1250kg
11.6.4 Loading 1600kg
11.6.5 Other
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Residential
11.10.2 Commercial
11.10.3 Industrial
11.10.4 Institutional
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Loading 800kg
12.6.2 Loading 1000kg
12.6.3 Loading 1250kg
12.6.4 Loading 1600kg
12.6.5 Other
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Residential
12.10.2 Commercial
12.10.3 Industrial
12.10.4 Institutional
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Loading 800kg
13.6.2 Loading 1000kg
13.6.3 Loading 1250kg
13.6.4 Loading 1600kg
13.6.5 Other
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Residential
13.10.2 Commercial
13.10.3 Industrial
13.10.4 Institutional
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Commercial Smart Elevators Market: Competitive Dashboard
14.2 Global Commercial Smart Elevators Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Otis
14.3.2 Kone
14.3.3 ThyssenKrupp
14.3.4 Schindler
14.3.5 Mitsubishi Electric
14.3.6 Toshiba
14.3.7 Hitachi
14.3.8 Fujitec
14.3.9 Hyundai
