About Home Elevators
Home elevators are used for lifting and lowering in the residential industry. As per industry professionals, many homeowners across the United States continue to seek the added convenience and comfort of home elevators. The global elevators industry is expected to reach nearly USD 15 billion by the year 2023. These are available in different series and forms such as traditional and standard forms.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 5.03% |
This industry is witnessing an increasing number of new market entrants. Market key players are focusing on advanced digital technologies, improving efficiency, and other services. Market growth opportunities are captured by tracking the ongoing technologies advancement, services development, and others Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Home Elevators market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Nationwide Lifts (United States), RAM Elevators (Canada), Savaria Corp. (United States), Symmetry Elevators (United States), Waupaca (United States), Stiltz, Inc. (United States), Easy Climber (United States), Wessex Lifts (United Kingdom), Pollock Lifts (United Kingdom) and Terry Lifts (United Kingdom) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Residential Elevators (United States), Home Elevators by PVE (United States) and Area Access, Inc. (United States).
Segmentation Overview
AMA Research has segmented the market of Global Home Elevators market by Type (Traction (MRL) Elevators, Chain-Driven Elevators, Cable-Driven Elevators, Hydraulic Elevators, Pneumatic Elevators, Shaftless Elevators and Others) and Region.
On the basis of geography, the market of Home Elevators 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 Services, the sub-segment i.e. New Installation will boost the Home Elevators market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Category, the sub-segment i.e. Standard will boost the Home Elevators market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rapid Development Technology Solutions and Advancement in Safety System
Market Growth Drivers:
Increase Trend for Homeowners for Residential Elevators and Development in Residential Industry
Challenges:
Home Elevators Associated With High Cost of Installation and Manufacturing
Restraints:
Disruption in Supply Chain
Opportunities:
Increase Adoption of Elevators in Residential Apartments Enhance the Complete Property Value
Market Leaders and their expansionary development strategies
July 2022, Stannah Stairlifts acquires Sweden-based Alift AB, a leading provider of home elevators and accessibility solutions in the Nordic region
February 2024, Savaria, a leading accessibility solutions company, launches a new line of modular home elevators designed for easier installation and customization
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Home Elevators Manufacturers, Distributors, and Suppliers, Raw Materials Providers, Government Regulatory and Research Organizations and End-Use Industries
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.