Market Overview:
The global passenger lifts market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for passenger lifts in commercial buildings and airports across the globe. Additionally, rising awareness about safety and security measures is also propelling the growth of this market. The global passenger lifts market can be segmented on the basis of type into hydraulic passenger lifts and electric passenger lifts. The hydraulic segment is expected to account for a larger share of the global market than electric passenger lifts during the forecast period owing to its low installation and maintenance costs as compared to electric passenger lifts. On the basis of application, business hotels are expected to account for a larger share ofthe global Passenger Lifts Market than office buildings duringthe forecast period owingto their growing popularity among corporate travelers worldwide . However, office buildings are projectedto witness highergrowth ratesduringthe forecastperioddue tobusinesses shifting towards more modern workspaces with better amenities . Other applications such as railway stations, hospitals, educational institutions etc.
Product Definition:
A passenger lift is a type of vertical transportation that moves people between floors of a building. Passenger lifts are important for allowing people to move between floors without having to use stairs, which can be difficult or impossible for some people to use.
Hydraulic Passenger Lifts:
Hydraulic passenger lifts are the most common type of passenger lift. They are widely used in public places for transportation of passengers from one place to another with a vehicle. The basic function of these lifts is to carry passengers vertically using hydraulic rams and then drop them at their desired destination.
Electric Passenger Lifts:
Electric passenger lifts are motorized wheelchair-like devices used for transporting passengers from one place to another. They can be operated by one or more people. The basic function of an electric lift is to provide mobility-related assistance, which includes lifting a person into and out of a chair, carrying a person up and down stairs, etc.
Application Insights:
The others application segment includes residential, commercial and civil buildings. The demand for passenger lifts in office buildings, business hotels, airports and stations are expected to drive the global passenger lift market over the forecast period. In terms of revenue, the airport segment is projected to witness a CAGR of XX% from 2018 to 2030 owing to an increase in air travelers across the globe coupled with government initiatives aimed at developing new airports or expanding existing ones.
The demand for passenger lifts in residential applications accounted for 23.3% share of the total revenue in 2017 on account of growing urbanization along with increasing preference for floor-based living among millennials and baby boomers driving up real estate prices across various regions worldwide including North America.
Regional Analysis:
Asia Pacific dominated the global passenger lifts market in 2017 and is expected to continue its dominance over the forecast period. The region has witnessed a rapid increase in construction activities owing to growing demand for commercial spaces, such as business hotels, offices buildings, shopping complexes and airports. This growth is attributed to increasing disposable income of consumers coupled with government initiatives encouraging private investments in various sectors including real estate sector.
The North American regional market captured a revenue share of over 10% in 2017 owing to early technology adoption by some major players operating within the region. Furthermore, rising infrastructural development projects along with increasing number of high-rise buildings are projected to drive product demand within this region during the forecast period. Europe accounted for second-largest revenue share followed by Asia Pacific due to early technology adoption by companies based out of Western European countries such as U.K.
Growth Factors:
- Increasing demand for passenger lifts in the commercial sector to meet the needs of growing businesses.
- Rising demand for passenger lifts in residential buildings to accommodate the growing population.
- Development of new technologies that improve safety and efficiency of passenger lifts.
- Growing awareness about the benefits of using passenger lifts among consumers and businesses alike.
Scope Of The Report
Report Attributes
Report Details
Report Title
Passenger Lifts Market Research Report
By Type
Hydraulic Passenger Lifts, Electric Passenger Lifts
By Application
Business Hotel, Office Building, Airport, Station, Others
By Companies
KONE Corporation, Otis Elevator Company, Schindler, Mitsubishi Electric Corp., Fujitec, Thyssenkrupp AG, Hitachi LTD, Hyundai Elevator Company, Toshiba Corporation, Sigma Elevator Company, Stannah, Sicher Elevator Co., Ltd., Kleemann Hellas SA, Gulf Elevator & Escalator 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
211
Number of Tables & Figures
148
Customization Available
Yes, the report can be customized as per your need.
Global Passenger Lifts Market Report Segments:
The global Passenger Lifts market is segmented on the basis of:
Types
Hydraulic Passenger Lifts, Electric Passenger Lifts
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
Business Hotel, Office Building, Airport, Station, 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 Corporation
- Otis Elevator Company
- Schindler
- Mitsubishi Electric Corp.
- Fujitec
- Thyssenkrupp AG
- Hitachi LTD
- Hyundai Elevator Company
- Toshiba Corporation
- Sigma Elevator Company
- Stannah
- Sicher Elevator Co., Ltd.
- Kleemann Hellas SA
- Gulf Elevator & Escalator Co. Ltd.
Highlights of The Passenger Lifts 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:
- Hydraulic Passenger Lifts
- Electric Passenger Lifts
- By Application:
- Business Hotel
- Office Building
- Airport
- Station
- 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 Passenger Lifts 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?
Passenger lifts are a type of conveyance that move people between different levels of an enclosed structure. They are typically used in buildings, such as airports and shopping malls, to transport passengers between the ground floor and upper floors.
Some of the major companies in the passenger lifts market are KONE Corporation, Otis Elevator Company, Schindler, Mitsubishi Electric Corp., Fujitec, Thyssenkrupp AG, Hitachi LTD, Hyundai Elevator Company, Toshiba Corporation, Sigma Elevator Company, Stannah, Sicher Elevator Co., Ltd., Kleemann Hellas SA, Gulf Elevator & Escalator Co. Ltd..
The passenger lifts 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 Passenger Lifts 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 Passenger Lifts Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Passenger Lifts 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 Passenger Lifts 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 Passenger Lifts Market Size & Forecast, 2018-2028
4.5.1 Passenger Lifts Market Size and Y-o-Y Growth
4.5.2 Passenger Lifts Market Absolute $ Opportunity
Chapter 5 Global Passenger Lifts 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 Passenger Lifts Market Size Forecast by Type
5.2.1 Hydraulic Passenger Lifts
5.2.2 Electric Passenger Lifts
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Passenger Lifts 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 Passenger Lifts Market Size Forecast by Applications
6.2.1 Business Hotel
6.2.2 Office Building
6.2.3 Airport
6.2.4 Station
6.2.5 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Passenger Lifts 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 Passenger Lifts 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 Passenger Lifts Analysis and Forecast
9.1 Introduction
9.2 North America Passenger Lifts 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 Passenger Lifts Market Size Forecast by Type
9.6.1 Hydraulic Passenger Lifts
9.6.2 Electric Passenger Lifts
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 Passenger Lifts Market Size Forecast by Applications
9.10.1 Business Hotel
9.10.2 Office Building
9.10.3 Airport
9.10.4 Station
9.10.5 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 Passenger Lifts Analysis and Forecast
10.1 Introduction
10.2 Europe Passenger Lifts 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 Passenger Lifts Market Size Forecast by Type
10.6.1 Hydraulic Passenger Lifts
10.6.2 Electric Passenger Lifts
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 Passenger Lifts Market Size Forecast by Applications
10.10.1 Business Hotel
10.10.2 Office Building
10.10.3 Airport
10.10.4 Station
10.10.5 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 Passenger Lifts Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Passenger Lifts 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 Passenger Lifts Market Size Forecast by Type
11.6.1 Hydraulic Passenger Lifts
11.6.2 Electric Passenger Lifts
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 Passenger Lifts Market Size Forecast by Applications
11.10.1 Business Hotel
11.10.2 Office Building
11.10.3 Airport
11.10.4 Station
11.10.5 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 Passenger Lifts Analysis and Forecast
12.1 Introduction
12.2 Latin America Passenger Lifts 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 Passenger Lifts Market Size Forecast by Type
12.6.1 Hydraulic Passenger Lifts
12.6.2 Electric Passenger Lifts
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 Passenger Lifts Market Size Forecast by Applications
12.10.1 Business Hotel
12.10.2 Office Building
12.10.3 Airport
12.10.4 Station
12.10.5 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) Passenger Lifts Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Passenger Lifts 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) Passenger Lifts Market Size Forecast by Type
13.6.1 Hydraulic Passenger Lifts
13.6.2 Electric Passenger Lifts
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) Passenger Lifts Market Size Forecast by Applications
13.10.1 Business Hotel
13.10.2 Office Building
13.10.3 Airport
13.10.4 Station
13.10.5 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 Passenger Lifts Market: Competitive Dashboard
14.2 Global Passenger Lifts Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 KONE Corporation
14.3.2 Otis Elevator Company
14.3.3 Schindler
14.3.4 Mitsubishi Electric Corp.
14.3.5 Fujitec
14.3.6 Thyssenkrupp AG
14.3.7 Hitachi LTD
14.3.8 Hyundai Elevator Company
14.3.9 Toshiba Corporation
14.3.10 Sigma Elevator Company
14.3.11 Stannah
14.3.12 Sicher Elevator Co., Ltd.
14.3.13 Kleemann Hellas SA
14.3.14 Gulf Elevator & Escalator Co. Ltd.
