Scope of the Study
Traction elevators are the most common type of lift systems that use an electric hoisting machine and hoisting cables to raise and lower the elevator car vertically along guide rails. It is used many mid-rise and high-rise structures and requires a penthouse machine room to store the mechanical equipment and a counterweight to balance the load placed on the machinery by the car and passengers. These types of elevators come in two types, reared traction elevators and gear-less traction elevators.
The market study is being classified by Type (Geared Traction Elevators and Gearless Traction Elevators), by Application (Residential and Commercial) and major geographies with country level break-up.
Fujitec Co., Ltd. (Japan), KONE Corporation (Finland), Mitsubishi Electric Corporation (Japan), Otis Elevator Company (United States), Schindler Group (Switzerland), Hitachi, Ltd. (Japan), Express Lifts Limited (India), Escon Elevators Pvt. Ltd. (India), Toshiba Elevator and Building Systems Corporation (Japan) and Eita Elevator (Malaysia) Sdn. Bhd. (Malaysia) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are EITA Resources (Malaysia) and Orona SC (Spain).
Research Analyst at AMA predicts that Japanese Manufacturers will contribute to the maximum growth of Global Traction Elevators market throughout the predicted period.
Segment Analysis
AdvanceMarketAnalytics has segmented the market of Global Traction Elevators market by Type, Application and Region.
On the basis of geography, the market of Traction 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). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- More Efficient and Reliable Than Hydraulic Lifts
- Increased Residential Construction Activities
Restraints
- More Expensive Than Hydraulic Lifts
Opportunities
- Growing Construction Industry Worldwide
- Increasing Applications of the Traction Elevator
Challenges
- High Installation Cost of the Traction Elevators
Key Target Audience
Traction Elevator Manufacturers, Research Professionals, Emerging Companies, Raw Material Suppliers/ Buyers, Distributors, Government Body & Associations and End-user
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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