Market Overview:
The global elevator maintenance service 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 commercial and residential applications, and the growing awareness about safety regulations governing these equipment. The global elevator maintenance service market can be segmented on the basis of type into full service contract, partial service contract, and oil and grease contract. The full service contract segment is expected to account for the largest share of the market in 2018 owing to its advantages such as all-inclusive coverage of services, reduced downtime, and improved safety. On the basis of application, the commercial segment is expected to account for a larger share of the market than residential applications duringthe forecast period. This can be attributedto th egrowing demand for elevatorsand escalatorsin commercialsegments such as retail stores, hospitality industry,, office buildings,, etc., where there is an increased need fortransportationof peopleand goodsbetween floors .
Product Definition:
Elevator maintenance service is a type of service that is used to keep elevators in good working order. This type of service is important because it helps to ensure that people can safely use the elevator. It also helps to prevent problems from occurring with the elevator.
Full Service Contract:
Full-service contract is a type of outsourcing in which the Elevator Maintenance Service (EMS) activities are outsourced to third party service providers. The key benefit of this model is that it reduces the cost for end-users and also helps them focus on their core business. Full-service contracts can be either one time or recurring depending upon the nature of work involved.
Partial Service Contract:
Partial service contract is a type of service contract wherein the customer does not have to provide all the services required by the maintenance program. The customer supplies some inputs and Elevator Maintenance Service provider supplies all other inputs necessary for performing a maintenance task. This includes equipment diagnostics, repair & replacement services, preventive maintenance tasks as well as emergency repairs.
Advantages of partial service contracts include reduced labor cost.
Application Insights:
The commercial application segment held the largest share of over 70.0% in 2017. The growth can be attributed to the increasing construction activities across various industries such as office spaces, shopping malls and complexes, hotels and restaurants, hospitals and medical centers, educational institutions including colleges and universities along with government projects such as airports expansion programs are some of the major factors driving industry growth.
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 maintenance services. Furthermore, increasing infrastructural development projects across emerging economies of India and China are likely to drive demand for elevator maintenance services over the next eight years.
Europe accounted for a significant share of revenue in 2017 owing to growing investments from governments across various countries toward infrastructure development projects such as hospitals, offices buildings, airports etc., thereby propelling market growth during the forecast period. In addition, rising awareness regarding building safety standards and stringent regulations by regulatory bodies such as HSE are anticipated to further propel regional growth during the forecast period.
Growth Factors:
- Elevator Maintenance Service market is driven by the growing demand for elevators and escalators in the transportation sector.
- The increasing number of construction projects, especially in developing countries, is propelling the growth of Elevator Maintenance Service market.
- The rising awareness about safety and security among consumers is boosting the demand for Elevator Maintenance Service services globally.
- The increasing adoption of smart elevators and escalators is providing a major impetus to the growth of this market worldwide. 5) Growing urbanization and modernization are some other factors that are fueling the growth of Elevator Maintenance Service market across the globe
Scope Of The Report
Report Attributes
Report Details
Report Title
Elevator Maintenance Service Market Research Report
By Type
Full Service Contract, Partial Service Contract, Oil and Grease Contract
By Application
Commercial, Residential, Others
By Companies
Otis, KONE, Hitachi, Fujitec, Bagby Elevator Company, Syney Electric, Schindler Elevator Corporation, D&D Elevator, EMR Elevator, Orona, Eastern Elevators Group, Mid-American Elevator, HISA, Century Elevator (BrandSafway), Asheville Elevator, Brandywine Elevator Company, Veterans Development, Warren Elevator, Pickerings Lifts, Potomac Elevator Company
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
214
Number of Tables & Figures
150
Customization Available
Yes, the report can be customized as per your need.
Global Elevator Maintenance Service Market Report Segments:
The global Elevator Maintenance Service market is segmented on the basis of:
Types
Full Service Contract, Partial Service Contract, Oil and Grease Contract
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, Residential, 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:
- Otis
- KONE
- Hitachi
- Fujitec
- Bagby Elevator Company
- Syney Electric
- Schindler Elevator Corporation
- D&D Elevator
- EMR Elevator
- Orona
- Eastern Elevators Group
- Mid-American Elevator
- HISA
- Century Elevator (BrandSafway)
- Asheville Elevator
- Brandywine Elevator Company
- Veterans Development
- Warren Elevator
- Pickerings Lifts
- Potomac Elevator Company
Highlights of The Elevator Maintenance Service 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:
- Full Service Contract
- Partial Service Contract
- Oil and Grease Contract
- By Application:
- Commercial
- Residential
- 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 Maintenance Service 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 maintenance service is a type of service that is typically provided to maintain and repair elevators in buildings. This service can be used to keep the elevators running smoothly and safely, as well as ensuring that they are in good condition.
Some of the key players operating in the elevator maintenance service market are Otis, KONE, Hitachi, Fujitec, Bagby Elevator Company, Syney Electric, Schindler Elevator Corporation, D&D Elevator, EMR Elevator, Orona, Eastern Elevators Group, Mid-American Elevator, HISA, Century Elevator (BrandSafway), Asheville Elevator, Brandywine Elevator Company, Veterans Development, Warren Elevator, Pickerings Lifts, Potomac Elevator Company.
The elevator maintenance service 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 Maintenance Service 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 Maintenance Service Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Elevator Maintenance Service 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 Maintenance Service 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 Maintenance Service Market Size & Forecast, 2018-2028
4.5.1 Elevator Maintenance Service Market Size and Y-o-Y Growth
4.5.2 Elevator Maintenance Service Market Absolute $ Opportunity
Chapter 5 Global Elevator Maintenance Service 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 Elevator Maintenance Service Market Size Forecast by Type
5.2.1 Full Service Contract
5.2.2 Partial Service Contract
5.2.3 Oil and Grease Contract
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Elevator Maintenance Service 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 Elevator Maintenance Service Market Size Forecast by Applications
6.2.1 Commercial
6.2.2 Residential
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Elevator Maintenance Service 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 Maintenance Service 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 Elevator Maintenance Service Analysis and Forecast
9.1 Introduction
9.2 North America Elevator Maintenance Service 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 Elevator Maintenance Service Market Size Forecast by Type
9.6.1 Full Service Contract
9.6.2 Partial Service Contract
9.6.3 Oil and Grease Contract
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 Elevator Maintenance Service Market Size Forecast by Applications
9.10.1 Commercial
9.10.2 Residential
9.10.3 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 Elevator Maintenance Service Analysis and Forecast
10.1 Introduction
10.2 Europe Elevator Maintenance Service 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 Elevator Maintenance Service Market Size Forecast by Type
10.6.1 Full Service Contract
10.6.2 Partial Service Contract
10.6.3 Oil and Grease Contract
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 Elevator Maintenance Service Market Size Forecast by Applications
10.10.1 Commercial
10.10.2 Residential
10.10.3 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 Elevator Maintenance Service Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Elevator Maintenance Service 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 Elevator Maintenance Service Market Size Forecast by Type
11.6.1 Full Service Contract
11.6.2 Partial Service Contract
11.6.3 Oil and Grease Contract
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 Elevator Maintenance Service Market Size Forecast by Applications
11.10.1 Commercial
11.10.2 Residential
11.10.3 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 Elevator Maintenance Service Analysis and Forecast
12.1 Introduction
12.2 Latin America Elevator Maintenance Service 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 Elevator Maintenance Service Market Size Forecast by Type
12.6.1 Full Service Contract
12.6.2 Partial Service Contract
12.6.3 Oil and Grease Contract
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 Elevator Maintenance Service Market Size Forecast by Applications
12.10.1 Commercial
12.10.2 Residential
12.10.3 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) Elevator Maintenance Service Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Elevator Maintenance Service 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) Elevator Maintenance Service Market Size Forecast by Type
13.6.1 Full Service Contract
13.6.2 Partial Service Contract
13.6.3 Oil and Grease Contract
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) Elevator Maintenance Service Market Size Forecast by Applications
13.10.1 Commercial
13.10.2 Residential
13.10.3 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 Maintenance Service Market: Competitive Dashboard
14.2 Global Elevator Maintenance Service 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 Hitachi
14.3.4 Fujitec
14.3.5 Bagby Elevator Company
14.3.6 Syney Electric
14.3.7 Schindler Elevator Corporation
14.3.8 D&D Elevator
14.3.9 EMR Elevator
14.3.10 Orona
14.3.11 Eastern Elevators Group
14.3.12 Mid-American Elevator
14.3.13 HISA
14.3.14 Century Elevator (BrandSafway)
14.3.15 Asheville Elevator
14.3.16 Brandywine Elevator Company
14.3.17 Veterans Development
14.3.18 Warren Elevator
14.3.19 Pickerings Lifts
14.3.20 Potomac Elevator Company
