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Impact of Existing and Emerging Elevators Market Trends 2019 – 2029

This report also researches and evaluates the impact of Covid-19 outbreak on the Elevators industry, involving potential opportunity and challenges, drivers and risks. We present the impact assessment of Covid-19 effects on Elevators and market growth forecast based on different scenario (optimistic, pessimistic, very optimistic, most likely etc.). 

Global Elevators Market Overview: 

Fact.MR has evaluated the global Elevators market in its latest research report. The research report, titled [Global Elevators Market 2020 by Key Countries, Companies, Type and Application], presents a detailed analysis of the drivers and restraints impacting the overall market. Analysts have studied the key trends defining the trajectory of the market. The research report also includes an assessment of the achievements made by the players in the global Elevators market so far. It also notes the key trends in the market that are likely to be lucrative. The research report aims to provide an unbiased and a comprehensive outlook of the global Elevators market to the readers. 

 Global Elevators Market: Segmentation 

For clearer understanding of the global Elevators market, analysts have segmented the market. The segmentation has been done on the basis of application, technology, and users. Each segment has been further explained with the help of graphs figures. This breakdown of the market gives the readers an objective view of the global Elevators market, which is essential to make sound investments. 

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Competitive Landscape

  • In 2019, Mitsubishi Electric Corporation announced the official launch of NEXIEZ-LITE MRL elevator developed by its very own subsidiary i.e. ‘Mitsubishi Elevator India Private Limited (IMEC)’. This specific product will be added to its exclusive ‘NEXIEZ-LITE’ series of elevators for use in mid- and low-rise office space, hotels, and residencies in India. This product launch was aimed at leveraging prime opportunities in India, one of the leading elevator markets.
  • In 2018, ThyssenKrupp Elevator – a leading player of the urban mobility space – announced the official launch of two new exclusive elevator families namely, ‘evolution’ and ‘synergy’ with an objective of offering customized mobility in Europe and Africa. These two new product launches were aimed at catering to increasing demand for elevators of the best quality, service, and design across the above-mentioned regions.
  • In 2018, KONE- a leading provider of escalators and elevators- made an official announcement of its acquisition of the service & repair business of Eltec Elevator Ltd. This acquisition was aimed at delivering outstanding service to the customer bases spread across various regions. In addition, this acquisition was also a big step to strengthen the company’s market foothold and ability to offer innovative elevator and escalator solutions.

Otis Elevator Company

Founded in 1853, the Otis Elevator Company has its official headquarters in Farmington, Connecticut, United States. The company is a subsidiary of the United Technologies Corporation and is involved in developing, manufacturing, and marketing of a wide range of escalators, elevators, moving walkways, and other mobility solutions.

KONE Oyj

Founded in 1910, KONE Oyj has its official headquarters in Espoo, Finland. The company offers a wide range of elevators, escalators, and other solutions for modernization and maintenance. The company has total number of eight R&D centers and seven productions sites worldwide and offers industry-best services for developers, builders, designers, and architects.

The Schindler Group

Founded in 1874, The Schindler Group has its official headquarters in Ebikon, Switzerland. Ranked among one of the leading providers of escalators and elevators, Schindler has successfully marked its presence across 100 countries. Schindler holds specialization in latest-technology engineering to develop mobility solutions offering seamless efficiency, safety, and reliability.

Fujitec Co., Ltd.

Founded in 1948, Fujitec Co., Ltd. has its operational headquarters in Japan, the Americas, East Asia, South Asia, and Europe. The brand has its own legacy and specializes in development of standardized elevators, escalators, and modern mobility solutions.

Hitachi, Ltd.

Founded in 1910, Hitachi, Ltd. has its official headquarters in Japan, Tokyo. The company operates in umpteen key business segments, which include social infrastructure & industrial systems, information & telecommunication systems, construction machinery, high functional materials & components, automotive systems, and others.

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elevators market research methodology

Additional Insight

Smart Elevators – End Users’ New Choice for Connected Mobility 

Demand for connected and smart elevators is on a significant rise, as end-users show high enthusiasm to explore beyond the conventional elevator technologies. The global elevators market is witnessing considerable interest in smart elevators that offer high-end security, enhanced energy efficiency, effective crowd management, and ultra-speed operation. This evolution of smart elevators can be attributed to the sheer proliferation of artificial intelligence across a wide spectrum of applications.

Increasing demand for cable-free lifts moving effortlessly across both vertical and horizontal lines is also fuelling the demand for smart elevators. Sensing end user demand in this direction, manufacturing are focusing on development of smart elevators with interactive touch panels, intuitive technologies, and cloud-predictive maintenance. End users are on the constant lookout for elevator solutions that are highly efficient, effective, and engaging, which is further boosting the demand for smart elevators.

Research Scope

elevators market research scope

Research Methodology

The Fact.MR research study on global elevators market underlines various factors driving the market revenues and trends shaping growth of elevators market. The report on elevators market offers industry-best intelligence and incisive insights into the elevators market space and the demand-supply scenario. To compile the report on elevators market, primary and secondary phases were carried out, which form the foundation of the diligent market assessment.

While primary phase included interviews and in-person interactions with key players of elevators market, secondary phase involves meticulous research from various sources, including white papers, press releases, company websites, investor presentations, and others.

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Global Elevators Market: Regional Segmentation 

To understand the changing political scenario, analysts have regionally segmented the market. This gives an overview of the political and socio-economic status of the regions that is expected to impact the market dynamic. 

The Middle East and Africa (GCC Countries and Egypt)

North America (the United States, Mexico, and Canada)

South America (Brazil etc.)

Europe (Turkey, Germany, Russia UK, Italy, France, etc.)

Asia-Pacific (Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand,  India, Indonesia, and Australia) 

Global Elevators Market: Research Methodology 

Fact.MR uses a unique investigative approach to make an accurate assessment of the global Elevators market. To begin with, the analysis has been put together using primary and secondary research methodologies. The information has been authenticated by market expert through valuable commentary. Research analysts have also conducted exhaustive interviews with market-relevant questions to collate this research report. 

Global Elevators Market: Competitive Rivalry 

The research report also studied the key players operating in the global Elevators market. It has evaluated and elucidated the research and development statuses of these companies, their financial outlooks, and their expansion plans for the forecast period. In addition, the research report also includes the list of strategic initiatives that clearly explain the achievements of the companies in the recent past. 

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