About Elevator and Elevator Control
The terms "elevator" and "elevator control" can be approached from different angles, so let me know how you'd like to explore them. elevators have become common in any multistory and large floor residential and commercial buildings to improve functionality. Increasing the construction of commercial buildings and skyscrapers in the urban and metropolitan areas will accelerate the growth of elevators and elevator control systems across the globe. Home and residential elevators are becoming more popular to give a luxurious and stylish look to the home. Many commercial buildings are demanding group automatic operation elevator control systems to control more than one elevator at the same time and provide improved functionality.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Schindler Group (Switzerland), Mitsubishi Electric (Japan), Hyundai Elevator (South Korea), Fujitec (Japan), Delaware Elevator (United States), Hitachi (Japan), Schneider Electric (France), Otis Worldwide (United States), Kone (Finland), Thyssenkrupp (Germany) and Toshiba Elevator and Building Systems Corporation (Japan) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Nationwide Lifts (United States), NOVA s.r.l. (Italy), Thames Valley Controls (United Kingdom), Delta Elevator (Canada) and Nidec Corporation (Japan).
Segmentation Overview
AMA Research has segmented the market of Global Elevator and Elevator Control market by Type (Traction Elevator {Geared Traction Elevator, Gearless Traction Elevator}, Hydraulic Elevators {Roped Hydraulic Elevator, Conventional Hydraulic Elevator, Hole-less Hydraulic Elevator}, Machine-Room-Less (MRL) Elevator and Vacuum (Air Driven) Elevator), Application (Residential and Commercial) and Region.
On the basis of geography, the market of Elevator and Elevator Control has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Components, the sub-segment i.e. Systems {Single Automatic Operation, Selective Collective Operation, Group Automatic Operation} will boost the Elevator and Elevator Control market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Door Style, the sub-segment i.e. Manual will boost the Elevator and Elevator Control market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Emerging Trend of Next-Generation IoT Enabled Elevators to Improve Safety, Maintenance, and Better Performance and Increased Focus by the Manufacturers on the Development of New Innovative Control Systems for Elevators
Market Growth Drivers:
Surging Demand for More than 10 Person Capacity for the Commercial Buildings with High Operating Heights, Development of Skyscrapers and Multistory Apartments across the Globe Due to Rapidly Growing Population and Urbanization Across the Globe and Growing Popularity of Group Automatic Operation Elevator Control System for Large Buildings with Multiple Elevators
Challenges:
Slow Lifting Speed and Little Bit Noise Due to Using Hydraulic Elevators
Restraints:
High Cost Associated with Retrofitting of Elevators in Old Buildings May Hamper the Market Growth and Expensiveness of New Technology-Enabled Elevators in the Market May Slowdown the Growth
Opportunities:
Increasing Adoption of Elevators for Installation in Independent Houses Due to Increasing Number of Geriatric Population and Joint Pain Problems
Market Leaders and their expansionary development strategies
In January 2022, 3Phase Elevator an independent elevator and escalator services provider announced a merger with Specialized Elevator Services Holdings. The merger will allow both the companies to serve their customers and provide a transformational opportunity to form the largest nationwide independent union elevator services firm.
In January 2023, Hitachi Building Systems: Introduces the EcoMove Green elevator series, showcasing significant energy savings through its regenerative braking system and energy-efficient components.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Elevator and Elevator Control System Manufacturers, Suppliers, Distributors, and Service Providers, Venture Capitalists and Private Equity Firms, End-Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.