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Report

Australia Elevators and Escalators Market - Size & Growth Forecast 2024-2029

Market Report I 2024-02-22 I 119 Pages I Arizton Advisory & Intelligence

The Australia elevator and escalator market by new installations accounted for 4.9 thousand units in 2023, expected to grow at a CAGR of 5.30% from 2023-2029.

KEY HIGHLIGHTS

- Directions 2031 is a high-level spatial framework and strategic plan that establishes a vision for the future growth of the metropolitan Perth and Peel region. The Directions 2031 has also identified the need to introduce an urban expansion management program.
- The Deputy Mayor of Melbourne emphasized the need to decarbonize at least 80 commercial buildings annually to align with climate targets. The advocacy for eco-friendly building materials highlights the prominence of timber, with the Green Building Council of Australia reporting an increase in projects achieving 5-star and 6-star Green Star ratings, indicating a greater focus on sustainability.
- In 2020, the Australian government established Building 4.0 CRC as part of its cooperative research center initiative. Building 4.0 CRC will drive the construction industry into an efficient, connected, and customer-centric future through deep collaboration and emerging 4th industrial-age technology.
- The Federal Government has committed USD 5 billion to Melbourne's Airport Rail Link. The 23-kilometer link will connect Melbourne Airport in Tullamarine to the Central Business District via Sunshine. Construction is expected to begin in 2022, with the project due for completion in 2029. The growing demand for urban transportation and government efforts to expand transportation infrastructure will propel the construction and renovation of metro rails and airports across the country. These projects are further projected to support the Australia elevator and escalator market growth.
- The concentration of many people in certain parts of cities automatically leads to congested transportation networks, which is likely to cost about USD 16.5 billion each year and expected to cost more than USD 27.7Billion by 2030."30-minute city "is one of the concepts to approach the connectivity needs of cities.
- The Australian government has established a USD 1 billion Clean Energy Innovation Fund, which will invest up to USD 100 million annually in smart, green technologies and enterprises in Australia. The National Energy Productivity Plan includes several measures to improve ecological sustainability and resilience, including the National Australian Built Environment Rating System (NABERS) and Minimum Energy Performance Standards (MEPS) for appliances, and updates accordingly to the National Construction Code.

Urbanization and Migration Remain Key Factors for Urban Development Likely to Push the Australia Elevator and Escalator Market Growth

- Dexus and Frasers Property Australia have joined forces to build a USD 2.5 billion twin-tower commercial space on a 130,000 square meter in Sydney's Tech Central, expected to be completed in 2026.
- Plans for a USD 1 billion office tower and build-to-rent apartments on Melbourne's North bank have been approved. The development site at 7 Spencer Street will include a 20-story office tower; the second tower comprises 472 apartments designed exclusively for renters.
- The permanent Migration Program is a strategy to tackle the challenges of an aging population. Migration is expected to lower the population's average age and slow the aging process, given that migrants are generally younger than the existing Australian population. Increased migration in Australia is expected to positively impact the Australian elevator and escalator market, driving demand for infrastructure development in residential and commercial spaces and fostering growth and opportunities in the industry.

The Upward Trajectory for Low Energy Buildings Initiative for Residential and Commercial Buildings to Boost Demand for Installation of Energy-Efficient Elevators

- A USD 760 million investment has been allotted to redevelop Sydney's City Tattersalls Club on Pitt Street, which includes a 50-story hotel and apartment tower. The Pitt Street project is slated to commence construction in 2022 and is expected to be completed by 2025.
- The Trajectory for Energy Buildings is a national plan to make net-zero energy commercial and residential buildings in Australia. It's a significant program aimed at achieving Australia's 40 percent increase in energy productivity by 2030, as outlined in the National Energy Productivity Plan (NEPP).
- Housing Australia has secured a significant USD 517 million lending deal in Q4 2023 to facilitate the construction of 1,370 new homes in Melbourne through collaboration with Community Housing (Vic) Limited (CHL), the Victorian Government, and industry partners. The funding, mainly sourced from a recently closed USD 422 million sustainability bond issuance, extends the total bond issuance to over USD 2.6 billion. The homes will cater to various needs, including social, affordable, market, and specialist disability accommodation, prioritizing women, children at risk of homelessness, and Indigenous Australians.

Escalators Reaching Their Average Life Expectancy Mainly in Rail Transit to Create Demand for the Maintenance of Elevators in Australia

- From 2021 to 2023, around 4,151 escalators have been recorded as having faults, including 29 stoppages per escalator, which cost USD 3.8 million for service and repair. The aging of equipment, along with heavy rain and floods, has remained a key factor that has increased the demand for the service sector in the Australia elevator and escalator market.
- The long-term growth potential of the modernization industry in Australia is driven by the digital economy approach, which integrates emerging technologies like artificial intelligence and cyber security and supports SME digitization.

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

- The key players in the Australia elevator and escalator market are KONE, Otis, Hyundai Elevator, TK Elevator, Mitsubishi Electric, Hitachi, and Schindler.
- The top 4 prominent vendors, including KONE, Otis, Schindler, and TKE, account for 58% of the market share in the Australia elevator and escalator market.
- Schindler is among 67 businesses 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

- KONE
- Mitsubishi Electric
- Schindler
- TK Elevator
- Hitachi
- Otis

Other Prominent Vendors

- Toshiba Elevator and Building Systems Corporation
- Kleemann
- Wittur
- Stannah Lifts Holdings Ltd
- LML Lift Consultants Pty Ltd
- Easy Living Home Elevators
- Innovative Lift Consulting Pty Ltd
- Direct Lifts
- Jade Elevator
- Simplex Elevators
- Nibav Lifts

KEY QUESTIONS ANSWERED:

1. How big is the Australia elevator and escalator market?
2. What will be the growth rate of the Australia elevator and escalator market?
3. What is the number of installed bases in the Australia elevator and escalator market in 2023?
4. What are the key opportunities in the Australia elevator and escalator market?
5. What are the key players in the Australian 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. Australia Elevators Market
2.1. Future Outlook -Australia Elevator Market By Volume
2.2. Australia Escalators Market- By Segments
2.2.1. Australia Escalators Market, By Volume
2.2.1.1. Australia Escalators Market Size and Forecast, Volume (Units), 2019-2029
2.2.2. Australia Elevators Market, By Type
2.2.2.1. Hydraulic and Pneumatic, Market Size and Forecast, Volume (Units),2019-2029
2.2.2.2. Machine Room Traction, Market Size and Forecast, Volume (Units), 2019-2029
2.2.2.3. Machine Room Less Traction, Market Size and Forecast, Volume (Units), 2019-2029
2.2.2.4. Others, Market Size and Forecast, Volume (Units), 2019-2029
2.2.3. Australia Elevators & Escalators Market by Carriage Type
2.2.3.1. Passenger, Market Size and Forecast, Volume (Units), 2019-2029
2.2.3.2. Freight, Market Size and Forecast, Volume (Units), 2019-2029
2.2.4. Australia Elevators Market by Persons
2.2.4.1. 2-15 Persons, Market Size and Forecast, Volume (Units), 2019-2029
2.2.4.2. 16-24 Persons, Market Size and Forecast, Volume (Units), 2019-2029
2.2.4.3. 25-33 Persons, Market Size and Forecast, Volume (Units), 2019-2029
2.2.4.4. 34 Persons and Above, Market Size and Forecast, Volume (Units), 2019-2029
2.2.5. Australia Elevators Market by End Users
2.2.5.1. Commercial, Market Size and Forecast, Volume (Units), 2019-2029
2.2.5.2. Residential, Market Size and Forecast, Volume (Units), 2019-2029
2.2.5.3. Industrial, Market Size and Forecast, Volume (Units), 2019-2029
2.2.5.4. Others, Market Size and Forecast, Volume (Units), 2019-2029

3. Australia Escalators Market
3.1. Future Outlook - Australia Escalators Market by Volume
3.2. Australia Escalators Market- By Segments
3.2.1. Australia Escalators Market, By Volume
3.2.1.1. Australia Escalators Market Size and Forecast, Volume (Units), 2019-2029
3.2.2. Australia Escalator Market by Type
3.2.2.1. Parallel, Market Size and Forecast, Volume (Units), 2019-2029
3.2.2.2. Multi-parallel, Market Size and Forecast, Volume (Units), 2019-2029
3.2.2.3. Walkway, Market Size and Forecast, Volume (Units), 2019-2029
3.2.2.4. Crisscross, Market Size and Forecast, Volume (Units), 2019-2029
3.2.3. Australia Escalator Market by End Users
3.2.3.1. Commercial, Market Size and Forecast, Volume (Units), 2019-2029
3.2.3.2. Public Transit, Market Size and Forecast, Volume (Units), 2019-2029
3.2.3.3. Others, Market Size and Forecast, Volume (Units), 2019-2029

4. Australia Elevators &Escalators Market, By Service (Maintenance & Modernization)
5. Geographical Analysis
5.1. Key Economic Cities in Australia

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. Australia Elevator & Escalator Installed Base by Volume 2019-2029 (Units)
2. Australia Elevator & Escalator New Installations by Volume 2019-2029 (Units)
3. Market Share 2023: Maintenance
4. Market Share 2023: Modernization
5. Elevators and Escalators Installed Base: Volume (Units in Thousands)
6. Elevators and Escalators New Installations: Volume (Units in Thousands)
7. Global Elevators & Escalators Market: Products & Services 2022
8. Maintenance market: global Regions vs Asia Pacific 2022
9. Installed base of elevators by volume (units)
10. New Installations of elevators by volume (units)
11. Maintenance & Modernization Value($Million)
12. Maintenance & Modernization 2023(%)
13. Installed base of escalators by volume (units)
14. New Installations of escalators by volume (units)
15. Maintenance & Modernization Value($Million)
16. Maintenance & Modernization 2023(%)
17. Installed base and new installations of Elevators (Units)
18. New Installations of Elevators (Units)
19. Extended life cycle of elevator
20. Average life expectancy of elevator components
21. Hydraulic & Pneumatic Elevators Installed base and New Installations (Units)
22. Machine Room less Traction Elevators Installed base and New Installations (Units)
23. Machine Room Traction Elevators Installed base and New Installations (Units)
24. Others Machine Elevators Installed base and New Installation (Units)
25. Installed base and new installations of Passenger Elevators (Units)
26. Installed base and new installations of Freight Elevators (Units)
27. Installed base and new installations of 2-15 persons elevators (Units)
28. Installed base and new installations of 16-24 persons elevators (Units)
29. Installed base and new installations of 25-33 persons elevators (Units)
30. Installed base and new installations of 34 persons and above elevators (Units)
31. Installed base and new installations of Commercial Elevators (Units)
32. Installed base and new installations of Residential Elevators (Units)
33. Installed base and new installations of Industrial Elevators (Units)
34. Installed base and new installations of other end-user Elevators (units)
35. Installed base and new installations of escalators (Units)
36. New installations of escalators (Units)
37. Installed base and new installations of Parallel Escalators (Units)
38. Installed base and new installations of Multi parallel Escalators (Units)
39. Installed base and new installations of Moving Walkway Escalators (Units)
40. Installed base and new installations of crisscross Escalators (units)
41. Installed base and new installations of Public Transit Escalators (Units)
42. Installed base and new installations of Commercial Escalators (Units)
43. Installed base and new installations of Other End-user Escalators (units)
44. Australia Elevators & Escalators Maintenance Market ($ Mn)
45. Australia Elevators & Escalators Modernization Market ($ Mn)
46. Elevator Modernization timeline
47. Top cluster share in Australia 2023
48. Integrated platform to create opportunities for sustainable construction.
49. Approved Dwelling units in Australia
50. Elderly people living in private and other dwellings-2017(%share)
51. Market Share 2023 (% share)
52. Kone, total sales by segment 2022 (% share)
53. Mitsubishi Electric, total sales by segment 2022 (% share)
54. Schindler, total sales 2017-2022($billion)
55. TKE total sales 2020-2022($billion)
56. Hitachi, total sales by segment 2022 (% share)
57. Otis total sales 2019-2022($billion)
58. Otis Management portfolio by region -2022

LIST OF TABLES

1. Tall buildings under construction in Australia
2. By Machine, New Installations, Total Incremental Opportunity, 2021-2029
3. By Carriage Type, New Installations, Total Incremental Opportunity, 2021-2029
4. By Capacity (Persons), New Installations, Total Incremental Opportunity, 2021-2029
5. Projects and value of mixed-use accommodations
6. By End User, New Installations, Total Incremental Opportunity, 2021-2029
7. Number of building approvals by type of building
8. By Product, New Installations, Total Incremental Opportunity, 2021-2029
9. By End User, New Installations, Total Incremental Opportunity, 2021-2029
10. Expected life span of components manufactured by major OEMs & under regular maintenance is high.
11. Increasing building approvals to propel demand for new installation of elevators and escalators.
12. Infrastructure Projects in Australia.
13. Tourism investment to drive the accommodation sector.
14. Migration statistics in Australia regions 2022
15. Developments/ projects
16. Elevators market size & forecast by type (Units)
17. Elevators by Carriage Type Market Size & Forecast (Units)
18. Elevators market size & forecast, by persons (Units)
19. Elevators by End-Users Market Size & Forecast (Units)
20. Escalators market size & forecast, by type (Units)
21. Escalators market size & forecast, by end users (Units)
22. List of abbreviations

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