Elevator And Escalator Market size in APAC to Grow by 104.66 Th Units | Technavio
NEW YORK, March 16, 2022 /PRNewswire/ -- The "Elevator And Escalator Market In APAC by Product (Elevator and Escalator), End-user (Residential and Non-residential), and Geography (China, Japan, India, and Rest of APAC) - Forecast and Analysis 2022-2026" report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio has been proudly partnering with more than 100 Fortune 500 companies for over 16 years.
The potential growth difference for the elevator and escalator market in APAC between 2021 and 2026 is 104.66 th units. To get the exact yearly growth variance and the Y-O-Y growth rate, Talk to our analyst.
Key Market Dynamics:
- Market Driver
- Market Challenges
The growing high-speed metro projects is driving the elevator and escalator market growth in APAC. The increasing population and rapid urbanization have significantly been contributing to the growth of the megacities in APAC. This is expected to continue during the forecast period. The growth of these megacities in terms of population has created a need for efficient public infrastructure, particularly for mass transit. Several countries in Asia have planned for metro rails in urban areas to reduce traffic congestion and improve transportation facilities. For instance, cities in India, such as Bengaluru, Hyderabad, and Chennai, have started metro rail transportation and have planned to increase connectivity in the future. These upcoming metro rail projects would directly contribute to the demand for elevates and escalators in the region during the forecast period.
Increasing competition in the market is challenging the elevator and escalator market growth in APAC. Traditionally, most of the well-established vendors in the elevators and escalators market in China were focused on mid-range and high-end markets, while small-scale players would target the low-end market. However, small-scale players are trying to enter the mid-range segment while large-scale players are seeking to enter the low-end markets. The well-established players are cutting down their costs for the low-end market by manufacturing components locally and providing maintenance services with new installations. The slowdown in the Chinese economy resulted in the demand for low-cost elevators, particularly in the residential sector. This slowed down the demand for high-end elevators by well-established players in China. Such factors are expected to negatively impact market growth.
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Market Segmentation
The elevator and escalator market in APAC is segmented by product (elevator and escalator), end-user (residential and non-residential), and geography (China, Japan, India, and Rest of APAC). China will be the leading country with 46% of the market's growth during the forecast period.
View our sample report for additional insights into the contribution of all the segments, and regional opportunities in the report.
Some Companies Mentioned with their Offerings
- DongNan Elevator Co. Ltd. - The company offers elevators and escalators such as smooth running safe and reliable hospital elevator.
- Fujitec Co. Ltd. - The company offers elevators and escalators such as small machine-room elevator ZEXIA, machine room less elevtor REXIA, and GS escaltor 8000-NX.
- Guangzhou Guangri Elevator Industry Co. Ltd. - The company offers elevators and escalators such as GreenMax Elevator with small machine room, GVH freight elevator, and GreenMin energy saving escalator.
- Hitachi Ltd. - The company offers elevators and escalators such as UAG-SN1, HGE-Z, and OUG-ON1, TX Series and SX Series.
- Hyundai Elevator Co. Ltd. - The company offers elevators and escalators such as i-XEL and LUXEN.
- To gain access to more vendor profiles with their key offerings available with Technavio, Click Here
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Elevator And Escalator Market In APAC Scope | |
Report Coverage | Details |
Page number | 120 |
Base year | 2021 |
Forecast period | 2022-2026 |
Growth momentum & CAGR | Accelerate at a CAGR of 2.65% |
Market growth 2022-2026 | 104.66 th units |
Market structure | Fragmented |
YoY growth (%) | 2.13 |
Regional analysis | China, Japan, India, and Rest of APAC |
Performing market contribution | China at 46% |
Key consumer countries | China, Japan, India |
Competitive landscape | Leading companies, competitive strategies, consumer engagement scope |
Companies profiled | DongNan Elevator Co. Ltd., Fujitec Co. Ltd., Guangzhou Guangri Elevator Industry Co. Ltd., Hitachi Ltd., Hyundai Elevator Co. Ltd., IFE Elevators Co. Ltd., KONE Corp., Mitsubishi Electric Corp., Schindler Holding Ltd., and Sigma Elevator Co. |
Market Dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period. |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Key Topics Covered:
1. Executive Summary
1.1 Market Overview
Exhibit 01: Key Finding 1
Exhibit 02: Key Finding 2
Exhibit 03: Key Finding 3
Exhibit 04: Key Finding 5
Exhibit 05: Key Finding 6
Exhibit 06: Key Finding 7
Exhibit 07: Key Finding 8
2. Market Landscape
2.1 Market ecosystem
2.1.1 Parent Market
Exhibit 08 Parent market
Exhibit 09: Market characteristics
2.2 Value Chain Analysis
Exhibit 10: Value Chain Analysis: Industrial Machinery Market
2.2.1 Inputs
2.2.2 Inbound logistics
2.2.3 Operations
2.2.4 Outbound logistics
2.2.5 Marketing and sales
2.2.6 Aftermarket and service
2.2.7 Industry innovations
3. Market Sizing
3.1 Market definition
Exhibit 11: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 12: Market segments
3.3 Market size 2021
3.4 Market outlook: Forecast for 2021 - 2026
3.4.1 Estimating growth rates for emerging and high-growth markets
3.4.2 Estimating growth rates for mature markets
Exhibit 13: APAC - Market size and forecast 2021 - 2026 (thousand units)
Exhibit 14: APAC market: Year-over-year growth 2021 - 2026 (%)
4. Five Forces Analysis
4.1 Five Forces Summary
Exhibit 15: Five forces analysis 2021 - 2026
4.2 Bargaining power of buyers
Exhibit 16: Bargaining power of the buyer
4.3 Bargaining power of suppliers
Exhibit 17: Bargaining power of the supplier
4.4 Threat of new entrants
Exhibit 18: Threat of new entrants
4.5 Threat of substitutes
Exhibit 19: Threat of substitutes
4.6 Threat of rivalry
Exhibit 20: Threat of rivalry
4.7 Market condition
Exhibit 21: Market condition - Five forces 2021
5. Market Segmentation by Product
5.1 Market segments
Exhibit 22: Product Market share 2021 - 2026 (%)
5.2 Comparison by Product
Exhibit 23: Comparison by Product
5.3 Elevator - Market size and forecast 2021-2026
Exhibit 24: Elevator - Market size and forecast 2021-2026 (thousand units)
Exhibit 25: Elevator - Year-over-year growth 2021-2026 (%)
5.4 Escalator - Market size and forecast 2021-2026
Exhibit 26: Escalator- Market size and forecast 2021-2026 (thousand units)
Exhibit 27: Escalator- Year-over-year growth 2021-2026 (%)
5.5 Market opportunity by product
Exhibit 28: Market opportunity by Product
6 Market Segmentation by End-user
6.1 Market segments
Exhibit 29: End user Market share 2021 - 2026 (%)
6.2 Comparison by End user
Exhibit 30: Comparison by End user
6.3 Residential - Market size and forecast 2021-2026
Exhibit 31: Residential - Market size and forecast 2021-2026 (thousand units)
Exhibit 32: Residential - Year-over-year growth 2021-2026 (%)
6.4 Non-residential - Market size and forecast 2021-2026
Exhibit 33: Non-residential - Market size and forecast 2021-2026 (thousand units)
Exhibit 34: Non-residential - Year-over-year growth 2021-2026 (%)
6.5 Market opportunity by End user
Exhibit 35: Market opportunity by End user
7. Customer landscape
Technavio's customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria
7.1 Overview
Exhibit 36: Customer landscape
8. Geographic Landscape
8.1 Geographic segmentation
Exhibit 37: Market share by geography 2021-2026 (%)
8.2 Geographic comparison
Exhibit 38: Geographic comparison
8.3 China - Market size and forecast 2021-2026
Exhibit 39: China - Market size and forecast 2021-2026 (thousand units)
Exhibit 40: China - Year-over-year growth 2021-2026 (%)
8.4 Japan - Market size and forecast 2021-2026
Exhibit 41: Japan - Market size and forecast 2021-2026 (thousand units)
Exhibit 42: Japan - Year-over-year growth 2021-2026 (%)
8.5 India - Market size and forecast 2021-2026
Exhibit 43: India - Market size and forecast 2021-2026 (thousand units)
Exhibit 44: India - Year-over-year growth 2021-2026 (%)
8.6 Rest of APAC - Market size and forecast 2021-2026
Exhibit 45: Rest of APAC - Market size and forecast 2021-2026 (thousand units)
Exhibit 46: Rest of APAC - Year-over-year growth 2021-2026 (%)
8.7 Market opportunity by geography
Exhibit 47: Market opportunity by geography ($ million)
9. Drivers, Challenges, and Trends
9.1 Market drivers
9.1.1 Growing high-speed metro projects
9.1.2 Increasing government spending on infrastructure projects
9.1.3 Developing smart cities
9.2 Market challenges
9.2.1 Increasing competition in the market
9.2.2 Volatile raw material prices
9.2.3 Stringent safety regulations on elevators and escalators
Exhibit 48: Impact of drivers and challenges
9.3 Market trends
9.3.1 Growing investment in smart cities
9.3.2 Emerging energy-efficient elevators
9.3.3 Introduction of smart elevators
9.3.4 Advances in elevator and escalator technology
10. Vendor Landscape
10.1 Overview
Exhibit 49: Vendor landscape
10.2 Landscape disruption
Exhibit 50: Landscape disruption
Exhibit 51: Industry Risk
10.3 Competitive Landscape
11. Vendor Analysis
11.1 Vendors covered
Exhibit 52: Vendors covered
11.2 Market positioning of vendors
Exhibit 53: Market positioning of vendors
11.3 DongNan Elevator Co. Ltd.
Exhibit 54: DongNan Elevator Co. Ltd. - Overview
Exhibit 55: DongNan Elevator Co. Ltd. - Product and service
Exhibit 56: DongNan Elevator Co. Ltd. - Key offerings
11.4 Fujitec Co. Ltd.
Exhibit 57: Fujitec Co. Ltd. - Overview
Exhibit 58: Fujitec Co. Ltd. - Business segments
Exhibit 59: Fujitec Co. Ltd. - Key offerings
Exhibit 60: Fujitec Co. Ltd. - Segment focus
11.5 Guangzhou Guangri Elevator Industry Co. Ltd.
Exhibit 61: Guangzhou Guangri Elevator Industry Co. Ltd. - Overview
Exhibit 62: Guangzhou Guangri Elevator Industry Co. Ltd. - Product and service
Exhibit 63: Guangzhou Guangri Elevator Industry Co. Ltd. - Key offerings
11.6 Hitachi Ltd.
Exhibit 64: Hitachi Ltd. - Overview
Exhibit 65: Hitachi Ltd. - Business segments
Exhibit 66: Hitachi Ltd. - Key news
Exhibit 67: Hitachi Ltd. - Key offerings
Exhibit 68: Hitachi Ltd. - Segment focus
11.7 Hyundai Elevator Co. Ltd.
Exhibit 69: Hyundai Elevator Co. Ltd. - Overview
Exhibit 70: Hyundai Elevator Co. Ltd. - Product and service
Exhibit 71: Hyundai Elevator Co. Ltd. - Key news
Exhibit 72: Hyundai Elevator Co. Ltd. - Key offerings
11.8 IFE Elevators Co. Ltd.
Exhibit 73: IFE Elevators Co. Ltd. - Overview
Exhibit 74: IFE Elevators Co. Ltd. - Product and service
Exhibit 75: IFE Elevators Co. Ltd. - Key offerings
11.9 KONE Corp.
Exhibit 76: KONE Corp. - Overview
Exhibit 77: KONE Corp. - Business segments
Exhibit 78: KONE Corp - Key news
Exhibit 79: KONE Corp. - Key offerings
Exhibit 80: KONE Corp. - Segment focus
11.10 Mitsubishi Electric Corp.
Exhibit 81: Mitsubishi Electric Corp. - Overview
Exhibit 82: Mitsubishi Electric Corp. - Business segments
Exhibit 83: Mitsubishi Electric Corp. - Key news
Exhibit 84: Mitsubishi Electric Corp. - Key offerings
Exhibit 85: Mitsubishi Electric Corp. - Segment focus
11.11 Schindler Holding Ltd.
Exhibit 86: Schindler Holding Ltd. - Overview
Exhibit 87: Schindler Holding Ltd. - Product and service
Exhibit 88: Schindler Holding Ltd. - Key news
Exhibit 89: Schindler Holding Ltd. - Key offerings
11.12 Sigma Elevator Co.
Exhibit 90: Sigma Elevator Co. - Overview
Exhibit 91: Sigma Elevator Co. - Product and service
Exhibit 92: Sigma Elevator Co. - Key offerings
12. Appendix
12.1 Scope of the report
12.1.1Market definition
12.1.2 Objectives
12.1.3 Notes and caveats
12.2 Currency conversion rates for US$
Exhibit 93: Currency conversion rates for US$
12.3 Research Methodology
Exhibit 94: Research Methodology
Exhibit 95: Validation techniques employed for market sizing
Exhibit 96: Information sources
12.4 List of abbreviations
Exhibit 97: List of abbreviations
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