Market Overview:
The global elevator control switch market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The market growth is attributed to the increasing demand for elevators and escalators in the commercial sector, rising awareness about fire protection systems, and growing industrialization in developing countries. The non-metallic segment is projected to be the fastest-growing type segment during the forecast period. This can be attributed to its low cost and lightweight properties as compared with metallic switches.
Product Definition:
An elevator control switch is a device used to control the operation of an elevator. It is typically a manual switch that allows an operator to start, stop, or change the direction of an elevator. The importance of an elevator control switch is that it allows for safe and controlled operation of the elevator.
Non-metallic:
Non-metallic components are used in elevators to transmit the pressurized water or air from one place to another. They are made up of materials that do not conduct electricity and possess a high resistance to corrosion. Some of the materials used for manufacturing non-metallic parts include ceramics, carbon composites, and stainless steel among others.
Stainless steel:
Stainless steel is a type of alloy which consists of iron, chromium, nickel and other metals. The product has high corrosion resistance due to the presence of chromium and nickel. Elevator control switch market is majorly driven by growing construction activities in emerging economies such as India & China. Rapid urbanization in these countries has led to an increase in building structures including residential buildings, hotels & offices which are further likely to drive the demand for stainless steel over the forecast period.
Application Insights:
The commercial application segment accounted for the largest revenue share of over 60% in 2017. The growth is attributed to the increasing construction activities across various developing countries, especially in Asia Pacific and Middle East & Africa. For instance, according to a study conducted by the real estate Intelligence Group (RIG) Ltd., China will have more than 690 million square feet of office space constructed by 2019 and this number is expected to grow at a rate faster than any other country over the next few years. This development will lead to an increased demand for modern infrastructure including high rise buildings which require ECGSs for safety purposes.
The fire protection application segment accounted for significant market share in terms of revenue as well as volume in 2017 due to growing awareness about building codes and regulations pertaining fire safety equipment installation within buildings or areas surrounding them.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region has been witnessing rapid growth in commercial construction activities, which is driving the demand for elevator control switches. Furthermore, rising disposable income levels and expanding middle-class population base are likely to contribute toward further industry growth.
Europe accounted for a significant share of revenue in 2017 owing to growing investments by governments towards improving public safety infrastructure coupled with stringent regulations regarding access control systems implementation by local government bodies. Moreover, increasing number of high-rise buildings due to urbanization process is also anticipated favorably impact regional market development over the forecast period.
The North American market was valued at USD X million in 2017 and it is projected to expand at a CAGR of XX% from 2018 To 2030 as a result of increasing focus on security measures across various commercial establishments such as malls, restaurants, hotels etc., especially after 9/11 attacks against U.S.
Growth Factors:
- Elevator Control Switch market is driven by the growth in construction and infrastructure industry.
- The Elevator Control Switch market is driven by the increasing demand for energy-efficient elevators.
- The Elevator Control Switch market is driven by the growing demand for smart elevators with advanced features such as destination dispatch, group control, and car location tracking systems.
- The Elevator Control Switch market is also being propelled by the increasing installation of elevators in residential buildings and hospitals owing to their growing popularity among end users.
Scope Of The Report
Report Attributes
Report Details
Report Title
Elevator Control Switch Market Research Report
By Type
Non-metallic, Stainless steel
By Application
Commercial, Fire Protection, Industrial, Other
By Companies
Littelfuse, Eaton, Siemens, Merson
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
207
Number of Tables & Figures
145
Customization Available
Yes, the report can be customized as per your need.
Global Elevator Control Switch Market Report Segments:
The global Elevator Control Switch market is segmented on the basis of:
Types
Non-metallic, Stainless steel
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
Commercial, Fire Protection, Industrial, Other
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:
- Littelfuse
- Eaton
- Siemens
- Merson
Highlights of The Elevator Control Switch 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:
- Non-metallic
- Stainless steel
- By Application:
- Commercial
- Fire Protection
- Industrial
- Other
- 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 Control Switch 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?
The elevator control switch is a safety device that helps to prevent accidents in elevators. When the elevator is in motion, the control switch prevents the doors from closing until it has come to a complete stop.
Some of the major players in the elevator control switch market are Littelfuse, Eaton, Siemens, Merson.
The elevator control switch market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Elevator Control Switch 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 Control Switch Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Elevator Control Switch 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 Control Switch 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 Control Switch Market Size & Forecast, 2020-2028
4.5.1 Elevator Control Switch Market Size and Y-o-Y Growth
4.5.2 Elevator Control Switch 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 Non-metallic
5.2.2 Stainless steel
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 Commercial
6.2.2 Fire Protection
6.2.3 Industrial
6.2.4 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Elevator Control Switch 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 Control Switch 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 Non-metallic
9.6.2 Stainless steel
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 Commercial
9.10.2 Fire Protection
9.10.3 Industrial
9.10.4 Other
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 Non-metallic
10.6.2 Stainless steel
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 Commercial
10.10.2 Fire Protection
10.10.3 Industrial
10.10.4 Other
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 Non-metallic
11.6.2 Stainless steel
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 Commercial
11.10.2 Fire Protection
11.10.3 Industrial
11.10.4 Other
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 Non-metallic
12.6.2 Stainless steel
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 Commercial
12.10.2 Fire Protection
12.10.3 Industrial
12.10.4 Other
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 Non-metallic
13.6.2 Stainless steel
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 Commercial
13.10.2 Fire Protection
13.10.3 Industrial
13.10.4 Other
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 Control Switch Market: Competitive Dashboard
14.2 Global Elevator Control Switch Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Littelfuse
14.3.2 Eaton
14.3.3 Siemens
14.3.4 Merson
