Market Overview:
The global elevator cars market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for elevators and escalators in various applications, such as shopping malls, residential buildings, hospitals, and others. Passenger elevator cars are expected to account for the largest share of the global elevator cars market in 2018. However, freight elevator cars are projected to grow at a higher CAGR during the forecast period from 2018 to 2030.
Product Definition:
An elevator car or lift is a platform that travels along a track in either an open or enclosed shaft, used for transporting goods and people between floors of a building.
Passenger Elevator Cars:
Passenger elevator cars are used to lift passengers and their luggage to and from floors in buildings. They are an essential part of building automation, especially for the residential sector.
Freight Elevator Cars:
Freight elevator cars are used to carry goods and materials up and down from one level of a building or the other to another. They are generally used in situations where it is not feasible or practical for the material/goods to be transported using normal elevators.
Application Insights:
The shopping mall application segment accounted for the largest revenue share of over 40% in 2017. The growth is attributed to the increasing number of high-end retail stores and luxury hotels that are increasingly building their malls with elevators as a prime feature. As per Conde Nast, there are currently more than 1,200 upscale shopping malls across China alone. This development is expected to drive product demand over the forecast period.
The residential application segment was valued at USD 836 million in 2017 and is expected to witness significant growth owing to rising urbanization projects across various countries including India, Indonesia, Malaysia and Thailand among others.
Regional Analysis:
Asia Pacific region accounted for the largest revenue share in 2017 and is expected to continue its dominance over the forecast period. The regional growth can be attributed to increasing construction activities, which will lead to an increase in demand for elevators. Moreover, rising population and consumerism have spurred regional demand. China has more than 12,000 buildings with a height of more than 150 meters; this number is projected to reach 20,000 by 2020. In India, there are around 1 million malls with a total floor space exceeding 9 million square meters; this number is projected to grow at a rate of 15% between 2016 and 2021’s crop years.
Europe was the second-largest market accounting for 26% of global revenue in 2017 owing high adoption rates across countries such as Germany (99 elevator cars per 100 kilometers), U.K (71 elevator cars per 100 kilometers) Russia (62 elevator cars per 100 kilometers).
Growth Factors:
- Elevator Cars market is driven by the increasing demand for elevators and escalators in the construction industry.
- The growing population and rapid urbanization are also propelling the demand for elevator cars in the market.
- The increasing awareness about safety and security is resulting in an increase in the adoption of elevator cars across various applications.
- The development of innovative technologies such as smart elevators is expected to fuel the growth of this market during the forecast period.
Scope Of The Report
Report Attributes
Report Details
Report Title
Elevator Cars Market Research Report
By Type
Passenger Elevator Cars, Freight Elevator Cars, Sightseeing Elevator Cars, Others
By Application
Shopping Mall, Residential, Hospital, Others
By Companies
KONE Elevator Co. Ltd., Shanghai Mitsubishi Elevator Co., Ltd, Hitachi elevator, COBELCO Group, Sheridan Lifts Limited, EROS ELEVATORS, Symmetry Elevating Solutions, Suzhou Ostar Elevator Co., Ltd.
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
184
Number of Tables & Figures
129
Customization Available
Yes, the report can be customized as per your need.
Global Elevator Cars Market Report Segments:
The global Elevator Cars market is segmented on the basis of:
Types
Passenger Elevator Cars, Freight Elevator Cars, Sightseeing Elevator Cars, Others
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
Shopping Mall, Residential, Hospital, Others
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:
- KONE Elevator Co. Ltd.
- Shanghai Mitsubishi Elevator Co., Ltd
- Hitachi elevator
- COBELCO Group
- Sheridan Lifts Limited
- EROS ELEVATORS
- Symmetry Elevating Solutions
- Suzhou Ostar Elevator Co., Ltd.
Highlights of The Elevator Cars 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:
- Passenger Elevator Cars
- Freight Elevator Cars
- Sightseeing Elevator Cars
- Others
- By Application:
- Shopping Mall
- Residential
- Hospital
- Others
- 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 Elevator Cars 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
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
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?
Elevator cars are a type of railway car that is used to move people between different levels in a building.
Some of the major companies in the elevator cars market are KONE Elevator Co. Ltd., Shanghai Mitsubishi Elevator Co., Ltd, Hitachi elevator, COBELCO Group, Sheridan Lifts Limited, EROS ELEVATORS, Symmetry Elevating Solutions, Suzhou Ostar Elevator Co., Ltd..
The elevator cars market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Elevator Cars 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 Elevator Cars Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Elevator Cars 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 Elevator Cars 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 Elevator Cars Market Size & Forecast, 2020-2028
4.5.1 Elevator Cars Market Size and Y-o-Y Growth
4.5.2 Elevator Cars 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 Passenger Elevator Cars
5.2.2 Freight Elevator Cars
5.2.3 Sightseeing Elevator Cars
5.2.4 Others
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 Shopping Mall
6.2.2 Residential
6.2.3 Hospital
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Elevator Cars 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 Elevator Cars 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 Passenger Elevator Cars
9.6.2 Freight Elevator Cars
9.6.3 Sightseeing Elevator Cars
9.6.4 Others
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 Shopping Mall
9.10.2 Residential
9.10.3 Hospital
9.10.4 Others
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 Passenger Elevator Cars
10.6.2 Freight Elevator Cars
10.6.3 Sightseeing Elevator Cars
10.6.4 Others
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 Shopping Mall
10.10.2 Residential
10.10.3 Hospital
10.10.4 Others
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 Passenger Elevator Cars
11.6.2 Freight Elevator Cars
11.6.3 Sightseeing Elevator Cars
11.6.4 Others
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 Shopping Mall
11.10.2 Residential
11.10.3 Hospital
11.10.4 Others
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 Passenger Elevator Cars
12.6.2 Freight Elevator Cars
12.6.3 Sightseeing Elevator Cars
12.6.4 Others
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 Shopping Mall
12.10.2 Residential
12.10.3 Hospital
12.10.4 Others
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 Passenger Elevator Cars
13.6.2 Freight Elevator Cars
13.6.3 Sightseeing Elevator Cars
13.6.4 Others
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 Shopping Mall
13.10.2 Residential
13.10.3 Hospital
13.10.4 Others
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 Elevator Cars Market: Competitive Dashboard
14.2 Global Elevator Cars Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 KONE Elevator Co. Ltd.
14.3.2 Shanghai Mitsubishi Elevator Co., Ltd
14.3.3 Hitachi elevator
14.3.4 COBELCO Group
14.3.5 Sheridan Lifts Limited
14.3.6 EROS ELEVATORS
14.3.7 Symmetry Elevating Solutions
14.3.8 Suzhou Ostar Elevator Co., Ltd.
