Elevator & Escalator Market with Focus on Smart Elevators

Elevator is a type of vertical transport equipment that efficiently moves people or goods between floors or levels of a building, vessel or any other structure. There are mainly two types of elevators namely hydraulic elevators and electric elevators. Escalator is a moving staircase or a conveyor transport device for carrying people between floors of a building. The device consists of a motor driven chain of individual linked steps that move up or down on tracks, allowing the step treads to remain horizontal.

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The E&E market comprises three main segments namely new equipment, modernization and maintenance. In the supply chain of E&E market, there are Tier 1 and Tier 2 suppliers who supply the inputs to the manufacturers, which reach the final installation base through various distribution channels.

Smart Elevators are innovative systems that allow vertical transportation of goods or passengers in an automated framework. Smart elevators are designed to modify the simple act of traveling between floors.

The key factors which are anticipated to drive this market include growing urbanization, increased old-age population, growing construction spending in emerging markets. Some of the noteworthy trends of this industry include high demand for energy-efficient elevators and verticalization of cities. However, the growth of respective industry is challenged by price competition and stringent safety norms.

The report provides a comprehensive study of global elevator and escalator market and also major regional markets. Furthermore, market dynamics such as key trends and development; and challenges are analyzed in depth. The global elevator and escalator industry is highly competitive consisting of several large enterprises including the United Technologies Corporation, Kone Corporation, Thyssenkrupp and Schindler Holdings Ltd. The competitive landscape of the respective market, along with the company profiles of the leading players are also discussed in detail.

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