Please Wait.....
Report
Malaysia Elevators and Escalators Market - Size & Growth Forecast 2024-2029
Market Report I 2024-03-19 I 113 Pages I Arizton Advisory & Intelligence
The Malaysia elevator and escalator market size is expected to grow at a CAGR of 3.82% from 2023-2029.
KEY HIGHLIGHTS
- The lockdown in China impacts the repair and maintenance of vertical transportation (VT) equipment that serves Rapid Rail Sdn Bhd's light rail transit (LRT) and other stations in Malaysia because spare parts are imported from a facility in Shanghai. Rapid Rail claims that it is continuously monitoring the situation to speed up procurement from suppliers and contractors. Shipping of spare parts from the Shanghai OEM takes about three months. Apart from the VT at these stations, Rapid Rail notes that the overall VT equipment availability for elevators is 96.5 percent, and for escalators, it is 90 percent.
- Under the 12th Malaysia Plan, 13 urban renewal projects have been authorized (12MP). By the Ministry of Natural Resources and Urban Development, all of these projects are at varying levels of planning and execution. These projects are projected to support the growth of the Malaysia elevator and escalator market.
- MIDA (Malaysian Investment Development Authority) offers support in the form of incentives for IBS manufacturers and construction firms wanting to adopt automation and cutting-edge technologies such as Building Information Modelling (BIM), sophisticated materials and systems, 3D/4D/5D printing, and novel systems that improve speed, flexibility, efficiency, labor productivity, and product quality.
- The National Tourism Policy (NTP) 2020- 2030 is a ten-year transformation plan for the travel and tourism sector recently unveiled by the government. The goal of the NTP was to place Malaysia among the top 10 travel destinations regarding arrivals and receipts. There are about 29 approved, funded projects in 2021 with a value of USD 0.3 billion, out of which 94% were from domestic investors and foreign investments account for 6%.
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
Sustainable Construction Practices to Increase the Demand for Elevator Installation in Residential Buildings
- The KLCC (Holdings) Sdn Bhd plans to construct a 700 m-tall, roughly 145-story building in the heart of Kuala Lumpur after 2030 if the market and demand are favorable. The proposed project would increase the market's available space by 4 million square feet and include three office towers on four-acre retail platforms. It would be much taller than Malaysia's Petronas Towers and the 630-meter-tall Menara PNB 118, expected to be finished in 2024.
- First-time homebuyers are eligible for a complete stamp duty relief that applies to sale and purchase agreements for transactions made between January 1, 2021, and December 31, 2025. This is under the Budget 2021 provisions.
- The real estate sector's recovery is still delayed by the re-imposition of the conditional movement control order (CMCO), as evidenced by the decreased traffic to sales. Considering the pandemic, more developers are utilizing digital platforms to connect with and network with potential investors and customers.
Governments Strive to Expand Infrastructure Nationwide to Increase the Demand for New Installations in the Malaysia Elevator and Escalator Market
- The Forest City project by Country Garden in Johor, neighboring Singapore, is a USD 100 billion development set to accommodate 700,000 residents by 2035. The project encompasses four reclaimed islands over 30 square kilometers; the mixed-use project envisions the construction of office spaces, malls, clinics, schools, and various leisure facilities.
- Kelingking Beach, located in Nusa Penida, is one of the most renowned tourist destinations in Klungkung Regency; it will have a glass elevator for tourists, and the project will commence in July 2023. The Glass Elevator project, commonly known as Glass Viewing Platforms, is a collaborative project between Chinese investors and PT.BNP (Bina Nusa Properti). The glass lift will be constructed around 182 meters high, the bridge will be 64 meters high, and the glass elevator will be completed in approximately one year, i.e., in 2024, the investment value of building the glass elevator will reach approximately IDR 200 billion. The project significantly contributes to the Malaysia elevator and escalator market.
Building Construction Authority Regulates the Maintenance of Elevators and Escalators in Malaysia to Create a Demand
- According to the Malaysia Department of Occupational Safety and Health (DOSH), 806 escalators were unsafe in shopping malls and public places in 2017. A safety campaign (Safe escalator campaign) was launched to replace or repair the escalators. The campaign is projected to contribute to Malaysia elevator and escalator market growth.
- Rapid Rail reported that as of October 2022, 22 out of 362 elevator units and 49 out of 707 escalators were non-functional. The company has introduced the Condition Based Maintenance (CBM) program as a long-term measure. This program involves replacing components deemed damaged or frequently problematic without waiting for the end of the service life.
VENDOR LANDSCAPE
- The key players in the Malaysia elevator and escalator market are KONE, Otis, Hyundai Elevator, TK Elevator, Mitsubishi Electric, Hitachi, Schindler, and Fujitec.
- The top 4 prominent vendors, including Schindler, TKE KONE, and Mitsubishi, account for 35% of the Malaysia elevator and escalator market share.
Key Vendors
- Mitsubishi Electric
- Schindler
- TK Elevator
- KONE
- Hitachi
- Otis
- Hyundai Elevator
- Fujitec
Other Prominent Vendors
- Toshiba Elevator and Building Systems Corporation
- Sigma Elevator
- EITA Elevator
- Stannah Lifts Holdings Ltd
- Nippon Elevator
- DOVER Elevators
- CE Elevator
- Delfar Elevator
- Wiitrac Elevator
- Dong Yang Elevator
- Nibav Lifts
KEY QUESTIONS ANSWERED:
1. How big is the Malaysia elevator and escalator market?
2. What will the growth rate be in the Malaysia elevator and escalator market?
3. What is the number of installed bases in the Malaysia elevator and escalator market in 2023?
4. What factors drive the maintenance segment in the Malaysia elevator and escalator industry?
5. What are the key Malaysia elevator and escalator market players?
1. Introduction
1.1. Market Overview
1.2. Market Snapshot of Elevators
1.3. Market Snapshot of Escalators
1.4. Executive Summary
2. Malaysia Elevators Market
2.1. Future Outlook -Malaysia Elevator Market By Volume
2.2. Malaysia Escalators Market- By Segments
2.2.1. Malaysia Escalators Market, By Volume
2.2.1.1. Malaysia Escalators Market Size and Forecast, Volume (Units in Thousand), 2020-2029
2.2.2. Malaysia 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. Malaysia 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. Malaysia 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. Malaysia 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. Malaysia Escalators Market
3.1. Future Outlook - Malaysia Escalators Market by Volume
3.2. Malaysia Escalators Market- By Segments
3.2.1. Malaysia Escalators Market, By Volume
3.2.1.1. Malaysia Escalators Market Size and Forecast, Volume (Units), 2020-2029
3.2.2. Malaysia 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. Malaysia 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. Malaysia Elevators &Escalators Market, By Service (Maintenance & Modernization)
5. Geographical Analysis
5.1. Key Economic Countries in Malaysia
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. Malaysia Elevator & Escalator Installed Base by Volume 2019-2029 (Units)
2. Malaysia Elevator & Escalator New Installations by Volume 2019-2029 (Units)
3. Market Share 2023: Maintenance
4. Market Share 2023: Modernization
5. Malaysia Installed Base: Volume (Units in Thousands)
6. Malaysia New Installations: Volume (Units in Thousands)
7. Installed base of elevators by volume (units in thousands)
8. New Installations of elevators by volume (units in thousands)
9. Maintenance & Modernization Value($Million)
10. Maintenance & Modernization 2023(%)
11. Installed base of escalators by volume (units in thousand)
12. New Installations of escalators by volume (units in thousand)
13. Maintenance & Modernization Value($Million)
14. Maintenance & Modernization 2023(%)
15. Installed base and New installations of Elevators (Units)
16. New Installations of Elevators (Units)
17. Extended life cycle of Elevators
18. Average Life Expectancy Of Elevator Components
19. Hydraulic & Pneumatic Elevators Installed base and New Installations (Units)
20. Machine Room less Traction Elevators Installed base and New Installations (Units)
21. Machine Room Traction Elevators Installed base and New Installations (Units)
22. Others Machine Elevators Installed base and New Installation (Units)
23. Installed base and new installations of Passenger Elevators (Units)
24. Installed base and new installations of Freight Elevators (Units)
25. Installed base and new installations of 2-15 person elevators (Units)
26. Installed base and new installations of 16-24 person elevators (Units)
27. Installed base and new installations of 25-33 person elevators (Units)
28. Installed base and new installations of 34 persons and above elevators (Units)
29. Installed base and new installations of Commercial Elevators (Units)
30. Installed base and new installations of Residential Elevators (Units)
31. Installed base and new installations of Industrial Elevators (Units)
32. Installed base and new installations of other end-user Elevators (units)
33. Installed base and new installations of escalators (Units)
34. New installations of escalators (Units)
35. Installed base and new installations of Parallel Escalators (Units)
36. Installed base and new installations of Multi parallel Escalators (Units)
37. Installed base and new installations of Moving Walkway Escalators (Units)
38. Installed base and new installations of crisscross Escalators (units)
39. Installed base and new installations of Public Transit Escalators (Units)
40. Installed base and new installations of Commercial Escalators (Units)
41. Installed base and new installations of Other End-user Escalators (units)
42. Malaysia Elevators & Escalators Maintenance Market ($ Bn)
43. Malaysia Elevators & Escalators Modernization Market ($ Bn)
44. Elevators and Escalators market: Geographic Analysis 2023
45. Property Transactions trend 2019-2022
46. Market share 2022(% share)
47. Mitsubishi, total sales by segment2022(%share)
48. Schindler, total sales 2017-2022($billion)
49. TKE total sales 2020-2022($billion)
50. KONE, total sales by segment 2022(%share)
51. Hitachi Total Sales by Segment 2022(% Share)
52. Otis total sales 2020-2022($billion)
53. Fujitec net sales 2017-2022($billion)
LIST OF TABLES
1. Buildings greater than 150m+ in Countries
2. Buildings Under Construction in Malaysia
3. By Machine, New Installations, Total Incremental Opportunity, 2023-2029
4. By Carriage Type, New Installations, Total Incremental Opportunity, 2023-2029
5. By Capacity (Persons), New Installations, Total Incremental Opportunity, 2023-2029
6. By End User, New Installations, Total Incremental Opportunity, 2023-2029
7. By Product, New Installations, Total Incremental Opportunity, 2023-2029
8. By End User, New Installations, Total Incremental Opportunity, 2023-2029
9. Malaysian Standards for lifts and escalator
10. Property market Volume by Quarter 2022
11. Property Transactions by Volume in 2022
12. Property inventory in Malaysia 2022
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
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security