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Report
Asia Pacific Elevator and Escalator - Market Size & Growth Forecast 2023-2029
Market Report I 2023-06-28 I 152 Pages I Arizton Advisory & Intelligence
The Asia Pacific elevator and escalator market size by new installations accounted for 941.1 thousand units in 2022, expected to grow at a CAGR of 4.90% during the forecast period.
KEY HIGHLIGHTS
- The increasing HNWIs continued to attract MNEs and their investments to the region. Singapore established the Southeast Asia Manufacturing Alliance in February 2021 to entice manufacturers to invest in Singapore and other ASEAN nations. The Economic Development Board (EDB), Enterprise Singapore, and several manufacturers in the business sector are allies in the partnership.
- Hitachi and Nissan Motor had experimented with harnessing energy from mini-EV(Nissan Sakura) to power an elevator in a six-story building in Japan. Concerning this, a 20 KW hour battery was connected to the building using a special adapter developed by Hitachi Building Systems. This experiment had been succeeded for nearly 15 hours, and around 416 times, the elevator could move up and down. Hitachi building systems aim to provide the system to apartment buildings in April 2023; for continuous operation of elevators during power outages, these systems are viable.
- At the national level in China, GB/T 24476-2017 is a recommended regulation that outlines the use of IoT for elevators and escalators. Furthermore, provincial government regulations are established to be put into place in various cities like Shanghai, Hangzhou, or Shenzhen. These regulations offer a series of more specific and extensive facts about the kind of data and services one wants to obtain from lifts using the IoT. In certain instances, this legislation is starting to turn obligatory.
Affordable Housing Schemes and Ascending Ultra High Net Worth Individuals to Hike Elevator Demand
- Thailand's National Housing Authority (NHA) will provide financial assistance to about one-third of the targeted group of 2.27 million households (approximately 650,000) that cannot access housing financing from regular financial institutions. During the next five years (2022-2026), the NHA plans to raise B134 billion (about USD 4 billion) to fund 16 national projects.
- Hyundai Elevator agreed with LG Electronics for Robotic Synchronization and Smart Building Solution Supply in August 2021. This will enable it to expand its elevator market through home networks applied with IoT, AI, contactless technologies, and connections with automatic driving robots.
Green Building and Certifications in the Building sector lead to the adoption of Energy Efficient Vertical transportation installations in the Asia Pacific Elevator And Escalator Market.
- Adopting green building strategies and obtaining green certifications have been crucial in the building sector. These green certifications mandate the region's adoption of green or energy-efficient elevators. Furthermore, this leads to reducing of carbon emissions in the building sector. New regulations in China require that 70% of new urban buildings be certified green buildings by 2022. Major municipalities, including Shanghai, Beijing, and Shenzhen, plan to exceed that goal, requiring all new commercial buildings to be green. This also includes plans to renovate schools, hospitals, and public buildings to be more energy efficient.
- Under the 12th Malaysia Plan, 13 urban renewal projects have been authorized (12MP). Under the Ministry of Natural Resources and Urban Development, all of these projects are at varying levels of planning and execution. Increasing competition among township developers in Malaysia and their major focus on increasing property value has pushed them towards undertaking various multifunctional development projects in residential, commercial, institutional, and healthcare facilities.
Elevators Over Their Average Life Expectancy to Create Demand for Maintenance and Upgradation of Components in the Asia Pacific Elevator and Escalator Market
- The Ministry of Construction of Vietnam issued Circular 03/2021/TT-BXD, establishing national standards for apartment buildings due to numerous major accidents using lifts in apartment complexes. By July 2021, there will be more specifications for lifts in residential buildings.
- The Malaysian context can be adjusted with a similar creative approach. Some nations, like Malaysia, also promoted the elderly using elevators rather than escalators. It was witnessed that elderly people were responsible for 30% of accidents on moving walkways, escalators, and elevators.
- In 2019, Hitachi introduced an advanced lift remote monitoring and maintenance service in Singapore, providing real-time operational data about the lifts and implementation of preventive maintenance.
SEGMENTATION ANALYSIS
Elevator Market Segmentation by
Machine Type
- Hydraulic and Pneumatic
- Machine Room Traction
- Machine Room Less Traction
- Others
o Climbing
o Elevators
o Industrial Elevators
Carriage Type
- Passenger
- Freight
Capacity
- 2-15 Persons
- 16-24 Persons
- 25-33 Persons
- 34 Persons and Above
End-User
- Commercial
- Residential
- Industrial
- Others
o Public Transit
o Institutional
o Infrastructural
Escalator Market Segmentation by
Product Type
- Parallel
- Multi Parallel
- Walkway
- Crisscross
End-User
- Public Transit
- Commercial
- Others
o Institutional Sector
o Infrastructure
o Industrial
VENDOR LANDSCAPE
- Otis, Schindler, TK Elevator, and KONE are the top 4 manufacturers in the Asia Pacific elevator and escalator market, with a share of over 55%.
- Schindler is among 67 businesses operating in New South Wales to have obtained a silver partnership in the NSW Sustainability Advantage Program, which aims to help organizations achieve performance and improve their environmental approach.
Key Vendors
- Otis
- KONE
- Schindler
- Hitachi
- TK Elevator
- Mitsubishi Electric
- Fujitec
- Hyundai Elevator
Other Prominent Vendors
- Shanghai SANEI Elevator Co., Ltd.
- SANYO YUSOKI KOGYO
- Johnson Lifts Pvt. Ltd.
- Cibes Lift Group
- Kalea Lifts
- Wittur Elevator Components
- Toshiba Elevator and Building Systems Corporation (TELC)
- Sigma Elevators
- HANDOK ELEVATOR Co., Ltd
- Stannah Lifts Holdings Ltd
- HM Elevator
- Japan Fuji International
- Hualong Elevator Co., ltd.
- SJEC
- Analogue Holdings Limited
- SUZHOU JIUDE ELECTRICAL AND MECHANICAL TECHNOLOGY CO., LTD.
- Shenyang Yuanda Intellectual Industry Group Co., Ltd
- IFE Elevators
KEY QUESTIONS ANSWERED:
1. How big is the Asia Pacific elevator and escalator market?
2. What will be the growth rate of the Asia Pacific elevator and escalator market?
3. What will be the number of installed bases in the Asia Pacific elevator and escalator market in 2029?
4. What are the key opportunities in the Asia Pacific elevator and escalator market?
5. Which are the key players in the Asia Pacific elevator and escalator market?
1. Introduction
1.1. Market Scope
1.2. Market Snapshot of Elevators
1.3. Market Snapshot of Escalators
1.4. Executive Summary
2. Asia Pacific Elevators Market
2.1. Future Outlook -Asia Pacific Elevator Market By Volume
2.2. Asia Pacific Escalators Market- By Segments
2.2.1. Asia Pacific Escalators Market, By Volume
2.2.1.1. Asia Pacific Escalators Market Size and Forecast, Volume (Units in Thousand), 2020-2029
2.2.2. Asia Pacific Elevators Market, By Type
2.2.2.1. Hydraulic and Pneumatic , Market Size and Forecast, Volume (Units),2020-2029
2.2.2.2. Machine Room Traction, Market Size and Forecast, Volume (Units), 2020-2029
2.2.2.3. Machine Room Less Traction, Market Size and Forecast, Volume (Units), 2020-2029
2.2.2.4. Others, Market Size and Forecast, Volume (Units), 2020-2029
2.2.3. Asia Pacific Elevators & Escalators Market by Carriage Type
2.2.3.1. Passenger, Market Size and Forecast, Volume (Units), 2020-2029
2.2.3.2. Freight, Market Size and Forecast, Volume (Units), 2020-2029
2.2.4. Asia Pacific Elevators Market by Persons
2.2.4.1. 2-15 Persons, Market Size and Forecast, Volume (Units), 2020-2029
2.2.4.2. 16-24 Persons, Market Size and Forecast, Volume (Units), 2020-2029
2.2.4.3. 25-33 Persons, Market Size and Forecast, Volume (Units), 2020-2029
2.2.4.4. 34 Persons and Above, Market Size and Forecast, Volume (Units), 2020-2029
2.2.5. Asia Pacific Elevators Market by End Users
2.2.5.1. Commercial, Market Size and Forecast, Volume (Units), 2020-2029
2.2.5.2. Residential, Market Size and Forecast, Volume (Units), 2020-2029
2.2.5.3. Industrial, Market Size and Forecast, Volume (Units), 2020-2029
2.2.5.4. Others, Market Size and Forecast, Volume (Units), 2020-2029
3. Asia Pacific Escalators Market
3.1. Future Outlook - Asia Pacific Escalators Market by Volume
3.2. Asia Pacific Escalators Market- By Segments
3.2.1. Asia Pacific Escalators Market, By Volume
3.2.1.1. Asia Pacific Escalators Market Size and Forecast, Volume (Units), 2020-2029
3.2.2. Asia Pacific Escalator Market by Type
3.2.2.1. Parallel, Market Size and Forecast, Volume (Units), 2020-2029
3.2.2.2. Multi-parallel, Market Size and Forecast, Volume (Units), 2020-2029
3.2.2.3. Walkway, Market Size and Forecast, Volume (Units), 2020-2029
3.2.2.4. Crisscross, Market Size and Forecast, Volume (Units), 2020-2029
3.2.3. Asia Pacific Escalator Market by End users
3.2.3.1. Commercial, Market Size and Forecast, Volume (Units), 2020-2029
3.2.3.2. Public Transit, Market Size and Forecast, Volume (Units), 2020-2029
3.2.3.3. Others, Market Size and Forecast, Volume (Units), 2020-2029
4. Asia Pacific Elevators &Escalators Market, By service (Maintenance & Modernization)
5. Geographical Analysis
5.1. Key Economic countries in Asia Pacific
6. Market Dynamics
6.1. Market Drivers, Opportunities, Restraints, Trends
7. Technological Development
8. Competitive Landscape
8.1. Company Profile of major Vendors
8.2. Other Prominent vendors
9. Report Summary
9.1. List of Abbreviations
10. Appendix (Report Scope & Definition)
10.1. Research Methodology
10.2. Market Definition, Inclusion & Exclusion
LIST OF EXHIBITS
1. Asia Pacific Elevator & Escalator Installed Base by Volume 2020-2029 (Units)
2. Asia Pacific Elevator & Escalator New Installations by Volume 2020-2029 (Units)
3. Market Share 2022: Maintenance
4. Market Share 2022: Modernization
5. Asia Pacific Installed Base: Volume (Units in Thousands)
6. Asia Pacific New Installations: Volume (Units in Thousands)
7. New Installation Market by Region-2022
8. Maintenance and Modernization Market by Region -2022
9. Installed base of elevators by volume (units in thousands)
10. New Installations of elevators by volume (units in thousands)
11. Maintenance & Modernization Value($Million)
12. Maintenance & Modernization 2022(%)
13. Installed base of escalators by volume (units in thousand)
14. New Installations of escalators by volume (units in thousand)
15. Maintenance & Modernization Value($Million)
16. Maintenance & Modernization 2022(%)
17. Installed base and New installations of Elevators (Units)
18. New Installations of Elevators (Units)
19. Average Life Expectancy Of Elevator Components
20. Hydraulic & Pneumatic Elevators Installed base and New Installations (Units)
21. Machine Room less Traction Elevators Installed base and New Installations (Units)
22. Machine Room Traction Elevators Installed base and New Installations (Units)
23. Others Machine Elevators Installed base and New Installation (Units)
24. Installed base and new installations of Passenger Elevators (Units)
25. Installed base and new installations of Freight Elevators (Units)
26. Installed base and new installations of 2-15 persons elevators (Units)
27. Installed base and new installations of 16-24 persons elevators (Units)
28. Installed base and new installations of 25-33 persons elevators (Units)
29. Installed base and new installations of 34 persons and above elevators (Units)
30. Installed base and new installations of Commercial Elevators (Units)
31. Installed base and new installations of Residential Elevators (Units)
32. Installed base and new installations of Industrial Elevators (Units)
33. Installed base and new installations of other end-user Elevators (units)
34. Installed base and new installations of escalators (Units)
35. New installations of escalators (Units)
36. Installed base and new installations of Parallel Escalators (Units)
37. Installed base and new installations of Multi parallel Escalators (Units)
38. Installed base and new installations of Moving Walkway Escalators (Units)
39. Installed base and new installations of Criss cross Escalators (units)
40. Installed base and new installations of Public Transit Escalators (Units)
41. Installed base and new installations of Commercial Escalators (Units)
42. Installed base and new installations of Other End user Escalators (units)
43. Asia Pacific Elevators & Escalators Maintenance Market ($ Bn)
44. Elevator and Escalator Accidents in South Korea
45. Asia Pacific Elevators & Escalators Modernization Market ($ Bn)
46. Percentage of Age of Building by Type in South Korea -2020
47. Percentage of 30+ year buildings by Provinces in South Korea -2020
48. Elevators and Escalators market: Geographic Analysis
49. Elevator and Escalator Statistics by Country -2022
50. Elevator: China Installed base and New Installation (Units)
51. Escalator : China Installed base and New Installation (Units)
52. Elevator: India Installed base and New Installation (Units)
53. Escalator : India Installed base and New Installation (Units)
54. Elevators New Installation By Top Cities in 2020(% Share)
55. Escalators New Installation by Top Cities in 2020( %Share)
56. Elevator: Japan Installed base and New Installation (Units)
57. Escalator : Japan Installed base and New Installation (Units)
58. % Dwellings Approvals in Australia by Region 2022
59. Elevator: Australia Installed base and New Installation (Units)
60. Escalator : Australia Installed base and New Installation (Units)
61. New Installation Market Share by Company: South Korea
62. New Installation Market Bifurcated by Company 2021(units)
63. New Installation Elevator Market Share by City -2021
64. New Installation Escalator Market Share by City -2021
65. Elevator: South Korea Installed base and New Installation (Units)
66. Escalator : South Korea Installed base and New Installation (Units)
67. Elevator: Vietnam Installed base and New Installation (Units)
68. Escalator : Vietnam Installed base and New Installation (Units)
69. Elevator: Thailand Installed base and New Installation (Units)
70. Escalator : Thailand Installed base and New Installation (Units)
71. Elevator: Indonesia Installed base and New Installation (Units)
72. Escalator : Indonesia Installed base and New Installation (Units)
73. Singapore: Percentage Share by type of Dwellings -2022
74. New Zealand: Percentage Share of Multi Unit homes for various regions - July 2022
75. Philippines: Approved Building Permits in Q1 2022
76. Elevator: Others Installed base and New Installation (Units)
77. Escalator : Others Installed base and New Installation (Units)
78. Residential Building Permit on Surge in Asian Countries
79. Elderly People living in Private and Other Dwellings in Australia-2017(% Share)
80. Market share 2020(% share)
81. Otis total sales 2020-2022($billion)
82. KONE, total sales by segment 2022(%share)
83. Schindler, total sales 2017-2022($billion)
84. Hitachi , Total Sales by segment 2022(% share)
85. TKE total sales 2020-2022($billion)
86. Mitsubishi, total sales by segment2022(%share)
87. Fujitec net sales 2017-2022($billion)
LIST OF TABLES
1. Asian Countries and Skyscrapers
2. Buildings Under Construction in Asia
3. By Machine, New Installations, Total Incremental Opportunity, 2022-2029
4. By Carriage Type, New Installations, Total Incremental Opportunity, 2022-2029
5. By Capacity (Persons), New Installations, Total Incremental Opportunity, 2022-2029
6. By End User, New Installations, Total Incremental Opportunity, 2022-2029
7. By Product, New Installations, Total Incremental Opportunity, 2022-2029
8. By End User, New Installations, Total Incremental Opportunity, 2022-2029
9. Asia Pacific Safety Rules for Construction and Installation of Elevators
10. China: Housing Indicators 2021
11. Ultra-High Net Worth Individuals (UHNWI) Population & Wealth in Asian Countries -2021
12. Singapore Steel Bar Price - Monthly
13. Developments/ projects
14. Elevators market size & forecast, by type (Units)
15. Elevators by Carriage Type Market Size & Forecast (Units)
16. Elevators market size & forecast, by persons (Units)
17. Elevators by End-Users Market Size & Forecast (Units)
18. Escalators market size & forecast, by type (Units)
19. Escalators market size & forecast, by end users (Units)
20. List of abbreviations
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