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Elevator Market Share | Industry Growth, Trends Forecast To 2026

Elevator Market Share | Industry Growth, Trends Forecast To 2026

Selbyville, Delaware, United States, October 24 2020 (Wiredrelease) Global Market Insights, Inc –:Elevator market outlook is influenced by the increasing developments in the Middle East and Asia Pacific building and construction sector. In the world economy, construction is one of the largest sectors and around USD 10 trillion is spent on construction-related services or goods every year. The construction spending seems to be increasing year after year especially in the developing regions. APAC accounts for half of the global construction industry. Booming construction activities in the developing countries is fueling the demand for building components.

Each time a mall project, high-rise building construction or airport development project is announced, escalators and elevators are the first requirements for the workers. The demand for elevators in the coming years will mainly be driven by expansion of residential and commercial construction, requirement for walkways and escalators in commercial complexes, malls and supermarkets as well as for development of new skyscraper, bridges and others.

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The COVID-19 crisis is negatively impacting engineering and construction sectors due to reverse migration, and disruption of supply chains. However, the building activities will be resume after the situation normalizes. Estimates show that global elevator market size will reach US$135 billion in terms of yearly valuation by 2026.

Convenience features of hydraulic elevators

Hydraulic elevators will experience high demand on account of their ease of convenience and affordability. These elevators generate movement through fluid compression, can travel at a maximum speed of 61 meters per minute and are ideal for application in low- and medium-rise structures with 2-8 story height. Hydraulic lifts demand lesser initial and maintenance costs, are easy to install, compact and occupy less space. As per estimates, hydraulic & pneumatic elevator type will generate revenue of more than USD 25 billion, showcasing a notable growth rate up to 2026.

Demand from industrial applications

In the industrial sector, elevators are suitable for application in transfer of goods or operators within different vertical levels of a facility. Hydraulic and pneumatic elevators are witnessing highly preferred for construction activities due to their lower cost and better weight carrying capacities. Elevators market will gain profit from industrial segment at 3% CAGR through 2026. Rising industrialization in developing countries in recent years along with growing focus on expanding the industrial output and production capacity in China and India has favored the product installation.

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New constructions development in Middle East region

Middle East elevator market share will gain traction over the coming years on account of robust growth of construction industry the region. The major factors behind developments in construction sector are growing urbanization, economic growth, rise in population, upsurge in young workforce and regulatory reforms such as UAE Vision 2021 and Saudi Vision 2030. The region awarded construction projects of more than USD 40 billion in the year 2018.

The construction spending in the region is gradually increasing. The region’s pipelined construction projects will account for over USD 1 trillion over the next decade as per the regional economic diversification plan. The recent developments in construction has also attracted a lot of tourism in the Middle East region. Several new and ongoing construction projects will create remarkable growth avenues for global elevators industry.

Table of contents for this research report@ https://www.gminsights.com/toc/detail/elevator-market

Report Content

Chapter 1. Methodology and Scope

1.1.  Methodology

1.2.  Market definition

1.3.  Market estimation & forecast parameters

1.4.  Data sources

1.4.1. Primary

1.4.2. Secondary

1.4.2.1. Paid sources

1.4.2.2. Public sources

Chapter 1. Executive Summary

1.1.  Elevator market 360? synopsis, 2016 – 2026

1.1.1. Business trends

1.1.2. Product by industry trends

1.1.3. Industry trends

1.1.4. Regional trends

Chapter 2. Elevator Industry Insights

2.1.  Industry segmentation

2.2.  Industry size and forecast, 2016 – 2026

2.3.  Industry ecosystem analysis

2.3.1. Profit margin

2.3.2. Value addition at each stage

2.3.3. Distributor channel analysis

2.3.4. Vendor matrix

2.3.4.1.    List of key manufacturers/supplier

2.3.4.2.    List of key/potential customers

2.3.4.3.    List of key raw material suppliers

2.3.4.4.    List of key service providers

2.4.  Raw material analysis

2.5.  Innovation & sustainability

2.5.1. Patent analysis

2.5.2. Technology landscape

2.5.3. Production process

2.5.4. Future trends

2.6.  Industry impact forces

2.6.1. Growth drivers

2.6.1.1.    Developments in the Asia Pacific building & construction industry

2.6.1.2.    Elevator maintenance and service market growth in Europe and North America

2.6.1.3.    Booming construction activities in the Middle East

2.6.2. Industry pitfalls & challenges

2.6.2.1.    High installation and maintenance cost

2.7.  Regulatory landscape

2.7.1. U.S.

2.7.2. Europe

2.7.3. China

2.8.  Growth potential analysis

2.9.  Competitive landscape, 2018

2.9.1.    Company market share, 2018

2.9.2.    Brand analysis

2.9.3.    Key stakeholders

2.9.4.    Strategy dashboard

2.10.  Porter’s analysis

2.10.1.  Supplier power

2.10.2.  Buyer power

2.10.3.  Threat of new entrants

2.10.4.  Threat of substitutes

2.10.5.  Industry rivalry

2.11.  Regional price trends

2.11.1.  Cost structure analysis

2.11.1.1.    R&D cost

2.11.1.2.    Manufacturing & equipment cost

2.11.1.3.    Raw material cost

2.11.1.4.    Distribution cost

2.11.1.5.    Operating cost

2.11.1.6.    Miscellaneous cost

2.11.2.  Price by product

2.11.3.  Price by industry

2.12.  PESTEL analysis

Chapter 3. Elevator Market, Product By Industry

3.1.  Global elevator market product insights

3.2.  Hydraulic & pneumatic

3.2.1. Market estimates and forecast, 2016 – 2026

3.2.2. Market estimates and forecast, by industry, 2016 – 2026

Building & construction

o  Residential

o  Institutional

o  Commercial

Industrial

3.2.3. Market estimates and forecast, by region, 2016 – 2026

3.3.  Machine room (MR) traction

3.3.1. Market estimates and forecast, 2016 – 2026

3.3.2. Market estimates and forecast, by industry, 2016 – 2026

Building & construction

o  Residential

o  Institutional

o  Commercial

Industrial

3.3.3. Market estimates and forecast, by region, 2016 – 2026

3.4.  Machine room-less (MRL) traction

3.4.1. Market estimates and forecast, 2016 – 2026

3.4.2. Market estimates and forecast, by industry, 2016 – 2026

Building & construction

o  Residential

o  Institutional

o  Commercial

Industrial

3.4.3. Market estimates and forecast, by region, 2016 – 2026

3.5.  Others

3.5.1. Market estimates and forecast, 2016 – 2026

3.5.2. Market estimates and forecast, by industry, 2016 – 2026

Building & construction

o  Residential

o  Institutional

o  Commercial

Industrial

3.5.3. Market estimates and forecast, by region, 2016 – 2026

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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