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Report
Brazil Elevators and Escalators - Market Size & Growth Forecast 2024-2029
Market Report I 2024-08-22 I 122 Pages I Arizton Advisory & Intelligence
The Brazil elevator and escalator market is expected to grow at a CAGR of 5.23% from 2023 to 2029.
KEY HIGHLIGHTS
- Brazil is one of the major countries in Latin America and globally. The country's warehouse and logistics industry has great potential, leading to increased demand for commercial elevators and elevators in other categories and boosting the Brazilian elevator and escalator market's growth. Brazil is also part of the EU-MERCOSUR agreement, which involves the trade of goods and services.
- The EU-MERCOSUR agreement is one of the world's largest volume trade in the EU. It comprises more than 40 billion euros in imports and exports. As part of its association pact negotiations with Mercosur countries, the EU is negotiating a free trade agreement with Brazil (which also includes Argentina, Uruguay, and Paraguay).
- Brazil is the largest economy in Latin America, and its commerce with the EU accounted for 30.8% of the total trade of the EU with the region in 2016. In 2015, the region accounted for 48.5% of the Latin American investments of the EU.
- Machines and appliances account for 26.6% of EU exports to Brazil, followed by chemical products (23.6%) and transportation equipment (13.6%). With interests in several sectors of the Brazilian economy, the EU is the largest foreign investor in the country.
- Morumbi Shopping in Sao Paulo, Brazil, has announced its sixth expansion. The owner is investing R$ 233 million, including 13,141 m2, 7,377 m2 of Gross Leasable Area (GLA), and relocating a 5,764 m2 mix. The company notes that construction began in March 2024, with the inauguration scheduled for H1 2026.
- Specialized projects are concentrated in Sao Paulo and Rio de Janeiro, with 62.3% of the area volume operational. Currently, 115 thousand sqm is under construction, with 77.4% distributed in Parana and Minas Gerais.
- The largest ongoing project is Sao Paulo city's metro line No. 6, which is estimated to cost US$3 billion and is managed by a consortium led by Spanish company Acciona. Spanning 15.3 kilometers and featuring 15 stations, it is hailed as Latin America's most extensive infrastructure endeavor currently in progress. The PPP agreement was signed between the state and the consortium Linha Universidade, which included Acciona, Societe Generale, and STOA Infra & Energy.
Elevator Market Segmentation by
- Machine Type
o Hydraulic and Pneumatic
o Machine Room Traction
o Machine Room Less Traction
o Others
o Climbing
o Elevators
o Industrial Elevators
- Carriage Type
o Passenger
o Freight
- Capacity
o 2-15 Persons
o 16-24 Persons
o 25-33 Persons
o 34 Persons and Above
- End-User
o Commercial
o Residential
o Industrial
o Others
o Public Transit
o Institutional
o Infrastructural
Escalator Market Segmentation by
- Product Type
o Parallel
o Multi Parallel
o Walkway
o Crisscross
- End-User
o Public Transit
o Commercial
o Others
o Institutional Sector
o Infrastructure
o Industrial
MARKET DRIVERS
Tourists Arrival in Brazil to Boost the Hotel Accommodation
- The region is expected to set a record in international tourist arrivals in the current year after its inbound numbers jumped by 62.7 pc in 2023, says the Brazilian Tourism Ministry.
- Last year, the country welcomed 5,908,341 foreign visitors, 62.7% higher than in 2022 and slightly below the pre-pandemic 2019 figure when 6.3 million foreign tourists visited the country.
- These figures are from Embratur, the Ministry of Tourism, and the Federal Police. The result also exceeded the World Tourism Organization's projections for the country by 3%.
- According to the data, Argentina is sending the most tourists to the country, with 1.9 million visitors, or 32% of the total.
Rise in Luxury Properties to Boost Demand for Lavish Elevators
- Brazil has become a key destination for buying luxury villas and houses, creating huge demand for luxury houses. It has resulted in a significant rise in house prices in the past five years.
- Rental yields in prominent cities like Sao Paulo and Rio de Janeiro have risen between 5% and 7.5%, providing huge cash flow for rental property owners.
REGIONAL ANALYSIS
Brazil Demographic Distribution
- In Brazil, residential construction constitutes around 80% of the building industry, with the remaining share primarily comprised of office buildings and warehouses. Social housing, predominantly multifamily units, accounts for roughly half of the residential sector, while non-social multifamily and single-family detached homes make up approximately 25%. Financing for social housing is facilitated through FGTS (Fundo de Garantia do Trabalhador Social), and the leading industry association is CBIC (Brazilian Chamber of the Building Industry).
- In June 2021, the International Finance Corporation (IFC) joined forces with CBIC to enhance the energy efficiency of existing buildings across the region by adopting EDGE (Excellence in Design for Greater Efficiencies) certification.
- To obtain EDGE certification, a building construction project should save a minimum of 20% of the energy compared to a conventional building. IFC developed free software as a part of the EDGE certification to design an energy-efficient building with the least environmental impact and minimum operational costs.
VENDOR LANDSCAPE
- The top three Brazil elevator and escalator market manufacturers are Otis, Schindler, and TKE.
- In September 2019, Atlas Schindler expanded its factory with a built area of 7,200 square meters; this is the expansion of its manufacturing unit, and it is the largest firm in the country. Atlas Schindler also supplies 25% of its production to Chile, Columbia, and Mexico.
Recent Developments in the Brazil Elevator and Escalator Market
- Otis Brazil has completed the modernization of 13 elevators in Sao Paulo's Birmann 21 building, meeting the three-year project timeline as planned. The upgraded elevators, including the fastest Otis SkyRise units in Brazil at 7 m/s, aim to enhance passenger experience with quicker journeys and increased comfort. Of these, 11 elevators feature Otis SkyRise technology, known for its advanced capabilities in high-rise buildings. Additionally, one elevator received aesthetic and control upgrades using the Flex Drive solution, while another was replaced with a machine room-less Gen2 elevator.
- KONE elevator had delivered six new escalators and ten elevators for Mater Dei Hospital, Minas Gerais.
- FIOCRUZ's Center for Research Innovation and Surveillance in COVID-19 and Health Emergencies received its 5 KONE E-MONOSPACE elevators within 95 days of signing the contract until the equipment arrived.
Key Vendors
- Schindler
- Otis
- KONE
- TK Elevator
- Hitachi
- Hyundai Elevator
- Fujitec
Other Prominent Vendors
- Wittur
- GMV
- Vega Lifts
- Schmersal Elevators
- Draka Elevator
- Giovenzana
- Villarta Elevators
KEY QUESTIONS ANSWERED:
1. What will be the growth rate of the Brazil elevator and escalator market?
2. How big is the Brazil elevator and escalator market?
3. What is the number of installed bases in the Brazil elevator and escalator market in 2023?
4. What are the key opportunities in the Brazil elevator and escalator market?
5. What are the key Brazil elevator and escalator market players?
1. Introduction
1.1. Market Scope
1.2. Market Snapshot of Elevators
1.3. Market Snapshot of Escalators
1.4. Executive Summary
2. Brazil Elevators Market
2.1. Future Outlook - Brazil Elevator Market, by Volume
2.2. Brazil Elevators Market- By Segments
2.2.1- Brazil Elevators Market, By Volume
2.2.1.1. Brazil Elevators Market Size and Forecast, Volume (Units), 2020-2029
2.2.2. Brazil 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. Brazil 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. Brazil 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. Brazil 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. Brazil Escalators Market
3.1 Future Outlook - Brazil Escalators Market by Volume
3.2 Brazil Escalators Market- By Segments
3.2.1 Brazil Escalators Market, By Volume
3.2.1.1 Brazil Escalators Market Size and Forecast, Volume (Units), 2020-2029
3.2.2 Brazil 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 Brazil 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 Brazil Elevators & Escalators Market, By Service (Maintenance & Modernization)
5 Geographical Analysis
5.1 Key Economic Regions in Brazil
6 Energy & Environment
7 Market Dynamics
7.1 Market Drivers, Opportunities, Restraints
8 Technological Development
9 Competitive Landscape
9.1 Major Vendors
9.2 Other Prominent Vendors
10 Report Summary
10.1 Key Insight
10.2 List of Abbreviations
11 Appendix (Report Scope & Definition)
11.1 Research Methodology
11.2 Market Definition, Inclusions & Exclusions
LIST OF EXHIBITS
1. BRAZIL ELEVATOR & ESCALATOR INSTALLED BASE BY VOLUME 2020-2029 (UNITS)
2. BRAZIL ELEVATOR & ESCALATOR NEW INSTALLATIONS BY VOLUME 2020-2029 (UNITS)
3. MARKET SHARE 2023: MAINTENANCE
4. MARKET SHARE 2023: MODERNIZATION
5. BRAZIL ELEVATORS & ESCALATORS INSTALLED BASE: VOLUME (UNITS IN THOUSANDS)
6. BRAZIL ELEVATORS & ESCALATORS NEW INSTALLATIONS: VOLUME (UNITS IN THOUSANDS)
7. GLOBAL ELEVATORS & ESCALATORS MARKET, PRODUCT & SERVICE, 2023
8. MAINTENANCE MARKET: GLOBAL VS SOUTH AMERICA 2023
9. ELEVATORS, INSTALLED BASE, VOLUME (UNITS)
10. ELEVATORS, NEW INSTALLATIONS, VOLUME (UNITS)
11. ELEVATORS: MAINTENANCE & MODERNIZATION, VALUE ($ MILLION)
12. ELEVATORS: MAINTENANCE & MODERNIZATION, 2023 (%)
13. ESCALATORS, INSTALLED BASE, VOLUME (UNITS)
14. ESCALATORS, NEW INSTALLATIONS, VOLUME (UNITS)
15. ESCALATORS: MAINTENANCE & MODERNIZATION, VALUE ($ MILLION)
16. ESCALATORS: MAINTENANCE & MODERNIZATION, 2023 (%)
17. ELEVATORS, INSTALLED BASE, AND NEW INSTALLATIONS (UNITS)
18. ELEVATOR DENSITY PER 1,000 POPULATION IN BRAZIL
19. NEW INSTALLATIONS MARKET SHARE BY COMPANY-2021
20. ELEVATORS, NEW INSTALLATIONS (UNITS)
21. URBAN POPULATION BY SIZE CLASS OF URBAN SETTLEMENT
22. AVERAGE LIFE EXPECTANCY OF AN ELEVATOR COMPONENT
23. HYDRAULIC & PNEUMATIC ELEVATORS INSTALLED BASE AND NEW INSTALLATIONS (UNITS)
24. MACHINE ROOMLESS TRACTION ELEVATORS INSTALLED BASE AND NEW INSTALLATIONS (UNITS)
25. MACHINE ROOM TRACTION ELEVATORS INSTALLED BASE AND NEW INSTALLATIONS (UNITS)
26. OTHER MACHINE ELEVATORS INSTALLED BASE AND NEW INSTALLATION (UNITS)
27. INSTALLED BASE AND NEW INSTALLATIONS OF PASSENGER ELEVATORS (UNITS)
28. INSTALLED BASE AND NEW INSTALLATIONS OF FREIGHT ELEVATORS (UNITS)
29. INSTALLED BASE AND NEW INSTALLATIONS OF 2-15 PERSON ELEVATORS (UNITS)
30. INSTALLED BASE AND NEW INSTALLATIONS OF 16-24 PERSON ELEVATORS (UNITS)
31. INSTALLED BASE AND NEW INSTALLATIONS OF 25-33 PERSON ELEVATORS (UNITS)
32. INSTALLED BASE AND NEW INSTALLATIONS OF 34 PERSONS AND ABOVE ELEVATORS (UNITS)
33. INSTALLED BASE AND NEW INSTALLATIONS OF COMMERCIAL ELEVATORS (UNITS)
34. INSTALLED BASE AND NEW INSTALLATIONS OF RESIDENTIAL ELEVATORS (UNITS)
35. INSTALLED BASE AND NEW INSTALLATIONS OF INDUSTRIAL ELEVATORS (UNITS)
36. INSTALLED BASE AND NEW INSTALLATIONS OF OTHER END-USER ELEVATORS (UNITS)
37. INSTALLED BASE AND NEW INSTALLATIONS OF ESCALATORS (UNITS)
38. NEW INSTALLATIONS OF ESCALATORS (UNITS)
39. INSTALLED BASE AND NEW INSTALLATIONS OF PARALLEL ESCALATORS (UNITS)
40. INSTALLED BASE AND NEW INSTALLATIONS OF MULTI-PARALLEL ESCALATORS (UNITS)
41. INSTALLED BASE AND NEW INSTALLATIONS OF MOVING WALKWAY ESCALATORS (UNITS)
42. INSTALLED BASE AND NEW INSTALLATIONS OF CRISSCROSS ESCALATORS (UNITS)
43. INSTALLED BASE AND NEW INSTALLATIONS OF PUBLIC TRANSIT ESCALATORS (UNITS)
44. INSTALLED BASE AND NEW INSTALLATIONS OF COMMERCIAL ESCALATORS (UNITS)
45. INSTALLED BASE AND NEW INSTALLATIONS OF OTHER END-USER ESCALATORS (UNITS)
46. BRAZIL ELEVATORS & ESCALATORS MAINTENANCE MARKET ($ MN)
47. BRAZIL ELEVATORS & ESCALATORS MODERNIZATION MARKET ($ MN)
48. NUMBER OF ELEVATOR ACCIDENTS IN BRAZIL
49. RESIDENT POPULATION BY REGION
50. MARKET SHARE 2022 (% SHARE)
51. SCHINDLER, TOTAL SALES 2018-2023 ($BILLION)
52. OTIS, TOTAL SALES 2018-2023 ($BILLION)
53. KONE, TOTAL SALES BY SEGMENT 2023 (% SHARE)
54. TKE ELEVATOR: REVENUE 2020-2023 ($ BILLION)
55. HITACHI, TOTAL SALES BY SEGMENT 2022 (% SHARE)
56. HYUNDAI ELEVATOR, NET SALES 2020-2023 ($ BILLION)
57. FUJITEC NET SALES 2021-2023 ($BILLION)
LIST OF TABLES
1. TALL BUILDINGS UNDER CONSTRUCTION IN BRAZIL
2. OVERVIEW OF UPDATED STANDARDS AND LAWS IN BRAZIL 2020
3. ELEVATOR: BY MACHINE, NEW INSTALLATIONS, TOTAL INCREMENTAL OPPORTUNITY, 2023-2029
4. ELEVATOR: BY CARRIAGE TYPE, NEW INSTALLATIONS, TOTAL INCREMENTAL OPPORTUNITY, 2023-2029
5. ELEVATOR: BY CAPACITY (PERSONS), NEW INSTALLATIONS, TOTAL INCREMENTAL OPPORTUNITY, 2023-2029
6. ELEVATOR: BY END USER, NEW INSTALLATIONS, TOTAL INCREMENTAL OPPORTUNITY, 2023-2029
7. ESCALATOR: BY PRODUCT, NEW INSTALLATIONS, TOTAL INCREMENTAL OPPORTUNITY, 2023-2029
8. ESCALATOR: BY END USER, NEW INSTALLATIONS, TOTAL INCREMENTAL OPPORTUNITY, 2023-2029
9. EXPECTED LIFE SPAN OF COMPONENTS UNDER REGULAR MAINTENANCE AND IF EQUIPMENT IS MANUFACTURED BY MAJOR OEMS
10. ELEVATORS MARKET SIZE & FORECAST BY MACHINE (UNITS)
11. ELEVATORS BY CARRIAGE TYPE MARKET SIZE & FORECAST (UNITS)
12. ELEVATORS MARKET SIZE & FORECAST BY PERSONS (UNITS)
13. ELEVATORS BY END-USERS MARKET SIZE & FORECAST (UNITS)
14. ESCALATORS MARKET SIZE & FORECAST BY PRODUCT (UNITS)
15. ESCALATORS MARKET SIZE & FORECAST BY END-USERS (UNITS)
16. LIST OF ABBREVIATIONS
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