About Freight Elevators
A Freight elevator or goods lift is fixed to transport goods rather than passengers or peoples. Freight elevators are larger and capable of carrying weightier masses than a passenger elevator. The capacity of freight elevators is generally from 2,300 to 4,500 kg capacity. Freight elevators may have physically functioned doors, and often have rough inner finishes cab to avoid harm while loading as well as unloading. There is two type of freight elevators including hydraulic freight elevators and electric freight elevators. Rising demand on construction site will help to boost global freight elevator market. The application of freight elevator including industrial truck loading, car carrying, and others.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 4.2% |
Market players are focusing on providing Mobile LiDAR Scanner with higher quality of system & services. They are also focusing on the numerous advanced interactive solutions & offerings to reach a newer consumer base i.e. Telecom Industrialist & Mobile Operators. The market is fragmented owing to the presence of several international & domestic providers. Besides, the telecom industrial profitability has led the entry of new players, in turn, increasing the level of rivalry in the already competitive market. Analyst at AMA Research estimates that European Manufacturers will contribute the maximum growth to Global Freight 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.
Toshiba Corporation (Japan), Mitsubishi Electrical Corporation (Japan), Otis Elevator Company (United States), Schindler Holding Ltd. (Switzerland), Hitachi Ltd. (Japan), Thyssenkrupp AG (Germany), Kone Corporation (Finland), Kleemann Hallas SA (Greece), Hyundai Elevator Co. Ltd. (South Korea) and Fujitec Co. Ltd. (Japan) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Yungtay Engineering (Taiwan), Suzhou Diao (China), Zhejiang Meilun Elevator (China) and Volkslift (Germany).
Segmentation Overview
AMA Research has segmented the market of Global Freight Elevators market by Type (Hydraulic Freight Elevators and Electric Freight Elevators), Application (Factory, Warehouse, Construction Site, Wharf and Others) and Region.
On the basis of geography, the market of Freight Elevators has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, 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 End User, the sub-segment i.e. Hospitals will boost the Freight Elevators market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Fueling Demand due New Skyscrapers around the World, Growing Demand in Electric Freight Elevators and Rising Dependency Due To Use in Motor Vehicles Loadings
Market Growth Drivers:
Up Surging Demand in Hospitals and Industries, High Adoption in Warehouse and Rising Demand Due To Use in the Construction Industry
Restraints:
High Cost of Freight Elevators and Threats of Substitutes
Opportunities:
Advance Technology in Freight Elevators
Market Leaders and their expansionary development strategies
In November 2023, Infosys announced a strategic long-term collaboration with TK Elevator (TKE), one of the world's leading urban mobility companies. As a part of the engagement, Infosys will consolidate, harmonize, and modernize TK Elevator's digital landscape. The engagement aims to continually innovate and transform the company's application and IT environment, leveraging an AI-first strategy powered by Infosys Topaz, an AI-first set of services, solutions and platforms using generative AI technologies.
In May 2023, TK Elevator, one of the global market and innovation leaders in the elevator industry, is launching EOX in North America. The eco-efficient elevator platform is engineered to meet the demands of two- to 10-story buildings with its space-saving design, advanced technologies and reduced lead times. TK Elevator has answered the call of architects, developers and building owners with a product optimized to fit most budgets and construction timelines, giving them everything they need and more than they expect.
Key Target Audience
Freight Elevators Manufactures, Freight Elevators Suppliers/Distributors, Industry Association, Downstream Vendors, Government Regulatory Bodies, Private Research Organizations, Government Research Organizations 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.