Posted By top news
Posted on August 12, 2021
Key Projections on Future of Elevators Market for Forecast Period 2017-2026
- According to the report, 59,721 units were sold in 2017, and by the end of forecast period, this number is scheduled to reach 138,326 units.
- North America will continue to be the largest market for elevators globally during the assessment period. The U.S. will remain at the forefront of demand, while Canada will account for a miniscule revenue share of the market. The report projects 56,087 units of elevators to be sold in North America by 2026.
- Among all the service type segments – maintenance & repair, refurbishing, and new equipment – demand for new equipment is the highest. The report projects new equipment to be the leading service type segment during the assessment period.
- By application type, the key segments include residential, commercial, and industrial. Demand for elevators from all these three segments is likely to remain steady during the assessment period, however, residential segment is projected to maintain a slight edge over the other two segments.
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Key Segments Covered in Elevators Report:
On the basis of Deck type, the elevators market can be segmented into:
- Single Deck
- Double Deck
On the basis of Building Height, the elevators market can be segmented into:
- Low Rise
- High Rise
- Mid Rise
On the basis of Speed, the elevators market can be segmented into:
- Less than 1 m/s
- Between 1 to 3 m/s
- Between 4 to 6 m/s
- Between 7 to 10 m/s
- Above 10 m/s
On the basis of Destination Control, the elevators market can be segmented into:
- Smart
- Conventional
On the basis of End Use, the elevators market can be segmented into:
- Commercial
- Residential
- Mix Block
On the basis of Application, the elevators market can be segmented into:
- Passengers
- Freight
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Following Questions Answers Covered in the Report are:
- How will the global Elevators Market perform during the forecast period? What will be the market size in terms of value and volume?
- Which segment will drive the global Elevators Market? Which regional market will show extensive growth in the future? What are the reasons?
- How will the market dynamics change because of the impact of future market opportunities, restraints, and drivers?
- What are the key strategies adopted by players to sustain themselves in the global Elevators Market?
- How will these strategies influence the market growth and competition?
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
- EU – (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxemburg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Rep. etc.), Rest of Europe
- CIS & Russia
- Japan
- Asia Pacific Excluding Japan (Greater China, India, S. Korea, ASEAN Countries, Rest of APEJ)
- Middle East and Africa (GCC Countries, Turkey, Iran, Israel, South Africa , Rest of MEA)
Emergence of Net-Zero Elevators to Influence the Market Expansion
Commercial builders are currently more focused than ever toward creation of energy-efficient structures to cater highest environmental benchmarks, while sustaining in the test of time. Elevators significantly contribute to energy consumption in a residential as well as commercial buildings, accounting for over 10% of total energy consumed. However, after decades of machine and technology advancements, modern elevators being developed comparatively consume lesser energy. In addition, the concept of a net-zero elevators is likely to gain immense traction in residential as well as commercial sectors in the upcoming years.
As a net-zero building produces only the amount of energy that is required by the structure, implementing a net-zero elevator commences with the emphasis on improving solar footprint. Infrastructure developers are therefore increasingly focusing on incorporating solar panels within the elevator shaft’s footprint, making it cost-effective and more practical. Another imperative factor gaining attraction of builders is inclusion of microprocessor controls in a net-zero elevator, to reduce energy losses as well as the amount of energy consumed by implementing more integrated circuits in every area of printed circuit boards
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