Please Wait.....
Report
U.K. Elevators & Escalators - Market Size & Growth Forecast 2024-2029
Market Report I 2024-07-18 I 135 Pages I Arizton Advisory & Intelligence
The U.K. elevator and escalator market by new installations is expected to grow at a CAGR of 2.25% from 2023 to 2029.
High Speed 2 Project and the Aging Population Are a Few Driving Factors for the Elevator and Escalator Market Demand
- According to the Government Construction Strategy, the construction output in the U.K. is more than USD 151.4 billion per annum and accounts for 7% of its GDP. Moreover, approximately three-quarters of construction output is in the private sector, and a quarter is in the public sector.
- High Speed 2 (HS2) is a planned high-speed railway connecting London to the West Midlands and eventually to the North of England. The project is expected to cost over USD 125 billion and will require the construction of numerous stations, tunnels, and viaducts. The HS2 project is expected to be completed in phases, with the first section between London and the West Midlands scheduled to open between 2029 and 2033. As construction progresses, significant demand for elevators across the region will continue to increase, supporting the U.K. elevator and escalator market growth.
- The U.K. government is working on several infrastructure projects. One Undershaft, London (estimated completion 2025) is a 73-story skyscraper that will be the second-tallest building in Western Europe upon completion. It will include office space and a public viewing gallery. The initiative intends to develop regional commercial, residential, and recreational facilities.
- According to the World Economic Forum, more than 500 smart cities are being built in the UK. For instance, the Cloud Valley project, a 13-million-square-foot area, uses Wi-Fi-connected devices and sensors to gather data on everything from people's food habits to pollution.
Quarter of Installed Elevators Above 40 Years Old Create Demand for Maintenance of Elevators in The U.K.
- Renovating old elevators, particularly those over twenty-five, can significantly reduce energy consumption by up to 65%, from an average of 3,400 kWh to 1,190 kWh annually. According to the Elevator Federation, this reduction, along with the development of new elevator designs consuming five times less energy than those from the 1960s, aims to achieve energy autonomy.
- In the fourth quarter of 2023, maintenance and improvement prices for buildings moderately increased, with a more significant rise observed in the non-residential sector compared to the residential sector. Notable increases were recorded in activities such as "other construction installation," electrical installation, and painting and glazing, while prices declined in joinery installation during this quarter.
KEY HIGHLIGHTS
- According to insights from major industry players, the service market, particularly maintenance and modernization, is expected to significantly drive the U.K. elevator and escalator market in the forthcoming years. This is projected alongside a slower growth rate and a potential decline in new installations during the forecast period. The primary reason for this trend is the prevalence of older buildings throughout the U.K., many of which do not currently have elevators installed or only have a small elevator that can fit one or two persons. Furthermore, the limited space available in such buildings often restricts the installation of only smaller elevators.
- The U.K. Elevator Federation reports an average of three technical breakdowns per elevator annually, with over a third experiencing no breakdowns. Inadequate maintenance, usage, or modernization contribute to the majority of breakdowns. Modernization efforts are imperative, with nearly a quarter of elevators over 40 and half over 25 years old.
SEGMENTATION ANALYSIS
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
INDUSTRY DRIVERS
- Infrastructure projects on the rise in the U.K. contribute to the growth of the U.K. elevator and escalator market, bolstered by initiatives like the UK 2030 investment plan to boost investments in the vertical transportation industry.
- Increasing foreign investment in the U.K. drives demand for elevators further, while elevator manufacturers are reintroducing assistance programs to support elevator renovation efforts.
- The extensive High Speed 2 project, spanning over ten years, is a significant driver for the U.K. elevator and escalator market.
MARKET OPPORTUNITIES
- The aging population's increased demand for elevators and escalators in buildings underscores the necessity for housing renovation to facilitate the modernization of vertical transportation systems.
- The need for digitization and cybersecurity in elevators is emphasized due to incidents like the theft of SIM cards in the U.K., prompting manufacturers to focus on enhancing security measures.
INDUSTRY RESTRAINTS
- Rising maintenance costs result in customers being overcharged. At the same time, labor shortages and skills mismatches pose challenges to the construction industry, leading to lengthy repair times and shortages of experienced workers and components.
- Anticipated rapid declines in the real estate industry in the U.K. in 2024 amid economic shifts highlight the need for strategic planning and adaptation within the vertical transportation industry.
VENDOR LANDSCAPE
- The key players in the U.K. elevator and escalator market are KONE, Otis, Mitsubishi Electric, Schindler, Hyundai Elevator, TK Elevator, and Hitachi, Kohler.
- The top 4 prominent vendors, including KONE, Otis, TKE, and Schindler, account for 60% of the U.K. elevator and escalator market.
- Over 100 firms operate in the U.K., with around 17,000 employees in the elevator and escalator market in 2023.
Key Vendors
- KONE
- Mitsubishi Electric
- TK Elevator
- Otis
- Hitachi
- Fujitec
- Schindler
- Hyundai Elevator
Other Prominent Vendors
- Stannah Lifts Holdings Ltd
- Cibes Lift Group
- Toshiba Elevator and Building Systems Corporation
- KLEEMANN
- Drieux-Combaluzier
- Orona Elevators
- SODIMAS
- Pickerings Lifts
- Aritco
- WeMaintain
- Ascier
- Morris Vermaport Limited
- NOVA Elevators
- Bradford Lifts Ltd.
KEY QUESTIONS ANSWERED
1. How big is the U.K. elevator and escalator market?
2. What will be the growth rate of the U.K. elevator and escalator market?
3. What is the number of installed bases in the U.K. elevator and escalator market in 2023?
4. What are the key opportunities in the U.K. elevator and escalator market?
5. What are the key U.K. 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. UK Elevators Market
2.1. Future Outlook -UK Elevator Market By Volume
2.2. UK Escalators Market- By Segments
2.2.1. UK Escalators Market, By Volume
2.2.1.1. UK Escalators Market Size and Forecast, Volume (Units in Thousand), 2020-2029
2.2.2. UK 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. UK 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. UK 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. UK 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. UK Escalators Market
3.1. Future Outlook - UK Escalators Market by Volume
3.2. UK Escalators Market- By Segments
3.2.1. UK Escalators Market, By Volume
3.2.1.1. UK Escalators Market Size and Forecast, Volume (Units), 2020-2029
3.2.2. UK 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. UK 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. UK Elevators &Escalators Market, By Service (Maintenance & Modernization)
5. Geographical Analysis
5.1. Key Economic Countries in UK
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. UK Elevator & Escalator Installed Base by Volume 2020-2029 (Units)
2. UK Elevator & Escalator New Installations by Volume 2020-2029 (Units)
3. Market Share 2022: Maintenance
4. Market Share 2022: Modernization
5. UK Installed Base: Volume (Units in Thousands)
6. UK New Installations: Volume (Units in Thousands)
7. Global Elevator &Escalator Market, Product and Service 2022: Installed base
8. Global Elevator &Escalator Market, Product and Service 2022: New Installed Base
9. Maintenance Market:2022
10. Installed base of elevators by volume (units in thousands)
11. New Installations of elevators by volume (units in thousands)
12. Maintenance & Modernization Value($Million)
13. Maintenance & Modernization 2022(%)
14. Installed base of escalators by volume (units in thousand)
15. New Installations of escalators by volume (units in thousand)
16. Maintenance & Modernization Value($Million)
17. Maintenance & Modernization 2022(%)
18. Installed base and new installations of Elevators (Units)
19. New Installations of Elevators (Units)
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 person elevators (Units)
28. Installed base and new installations of 16-24 person elevators (Units)
29. Installed base and new installations of 25-33 person 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. UK Elevators & Escalators Maintenance Market ($ Bn)
45. UK Elevators & Escalators Modernization Market ($ Bn)
46. Elevators and Escalators market: Geographic Analysis
47. Market share 2020(% share)
48. KONE, total sales by segment 2022(%share)
49. TKE total sales 2020-2022($billion)
50. Schindler, total sales 2017-2022($billion)
51. Mitsubishi, total sales by segment 2020(% share)
52. Otis total sales 2020-2022($billion)
53. Fujitec net sales 2017-2022($billion)
54. Hitachi Total Sales by Segment 2022(% Share)
LIST OF TABLES
1. 150m+ Tall buildings by Country
2. By Machine, New Installations, Total Incremental Opportunity, 2022-2029
3. By Carriage Type, New Installations, Total Incremental Opportunity, 2022-2029
4. By Capacity (Persons), New Installations, Total Incremental Opportunity, 2022-2029
5. By End User, New Installations, Total Incremental Opportunity, 2022-2029
6. By Product, New Installations, Total Incremental Opportunity, 2022-2029
7. By End User, New Installations, Total Incremental Opportunity, 2022-2029
8. Geographic Analysis
9. Impact of carbon emissions
10. Developments/ projects
11. Elevators market size & forecast by type (Units)
12. Elevators by Carriage Type Market Size & Forecast (Units)
13. Elevators market size & forecast by persons (Units)
14. Elevators by End-Users Market Size & Forecast (Units)
15. Escalators market size & forecast by type (Units)
16. Escalators market size & forecast by end users (Units)
17. 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