Market outlook of the global smart elevators market
Smart elevators are faster and more energy efficient when compared to conventional elevators. The augmented demand for energy-efficient products coupled with the rapid increase in construction activity are expected to aid this market in surpassing USD 22 billion by 2019.
In this market research report, Technavio analysts estimate eminent factors, such as the development of smart cities, to drive market growth during the forecast period. Smart cities provide a sustainable and efficient environment within a building and have attained great popularity in developed as well as developing countries. Since buildings in these cities employ various technologies to improve energy efficiency, the implementation of smart elevators in such buildings will aid in fostering market growth during the forecast period.
End-user segmentation of the smart elevators market
Commercial sector
Residential sector
Construction sector
The residential sector is expected to show the highest market growth rate during the forecast period. Increasing urbanization and high demand for energy efficient and intelligent elevators are some of the significant factors that are expected to account for this segment’s high growth rate during the forecast period.
Geographical segmentation of the smart elevators market
APEJ
North America
Europe
Others
Technavio’s market research analyst has estimated the APEJ region to show the highest growth rate during the forecast period. High market growth rate of the APEJ region can be attributed to the presence of rapidly growing markets such as China, India, Indonesia, Malaysia, and Vietnam, which show significant growth potential during the forecast period.
Competitive landscape and key vendors
This market is primarily dominated by leading vendors like Hitachi and Otis. These vendors compete with each other on the basis of providing smart elevator installation, maintenance, and modernization services. Additionally, the ability of these vendors to aid large-scale public infrastructure, residential, and commercial construction projects will help in increasing their market share during the forecast period.
Key vendors in this market are -
Hitachi
Mitsubishi
Otis
Schindler
ThyssenKrupp
Other prominent vendors in this market are Bosch, Fujitec, Hyundai, Honeywell, and KONE.
Key questions answered in the report include
What will the market size and the growth rate be in 2019?
What are the key factors driving the global smart elevators market?
What are the key market trends impacting the growth of the global smart elevators market?
What are the challenges to market growth?
Who are the key vendors in the global smart elevators market?
What are the market opportunities and threats faced by the vendors in the global smart elevators market?
Trending factors influencing the market shares of the APEJ, North America, and Europe?
What are the key outcomes of the five forces analysis of the global smart elevators market?
Technavio also offers customization on reports based on specific client requirement.
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Table of Contents
PART 01: Executive summary
Highlights
PART 02: Scope of the report
Market overview
PART 03: Market research methodology
Research methodology
Economic indicators
PART 04: Introduction
Key market highlights
PART 05: Industry overview
Supply chain for elevators
Key investment opportunities in the global smart elevator market
PART 06: Market landscape
Market overview
Five forces analysis
PART 07: Market segmentation by end-user
Global smart elevator market by end-user
PART 08: Geographical segmentation
Global smart elevator market by region
PART 09: Market drivers
Development of smart cities
Growth of high-rise building construction
Increasing rate of urbanization
PART 10: Impact of drivers
PART 11: Market challenges
High initial investment
Expensive raw materials
Intense competition
PART 12: Impact of drivers and challenges
PART 13: Market trends
Growing focus on passenger comfort
Increasing focus on elevator time management
Conversion of conventional elevators to smart elevators
PART 14: Vendor landscape
Competitive scenario
Presence of major vendors in smart elevator market
Other prominent vendors
PART 15: Key vendor analysis
Hitachi
Mitsubishi Electric
Otis Elevator
Schindler
ThyssenKrupp
TELC
PART 16: Appendix
List of abbreviations
PART 17: Explore Technavio
List of Exhibits
Exhibit 01: Global smart elevator market 2014-2019 ($ billions)
Exhibit 02: Global construction spending by sector 2014-2019 ($ trillions)
Exhibit 03: Five forces analysis
Exhibit 04: Global smart elevator market in commercial sector 2014-2019 ($ billions)
Exhibit 05: List of international events to occur in the period 2014-2022
Exhibit 06: Global smart elevator market in residential sector 2014-2019 ($ billions)
Exhibit 07: Global residential construction spending by region 2014-2019 ($ trillions)
Exhibit 08: Global smart elevator market in other construction sectors 2014-2019 ($ billions)
Exhibit 09: Global spending in other construction sectors by region 2014-2019 ($ trillions)
Exhibit 10: Global smart elevator market share by end-user 2014-2015
Exhibit 11: APEJ smart elevator market 2014-2019 ($ billions)
Exhibit 12: North America smart elevator market 2014-2019 ($ billions)
Exhibit 13: Europe smart elevator market 2014-2019 ($ billions)
Exhibit 14: Smart elevator market in other regions 2014-2019 ($ billions)
Exhibit 15: Global smart elevator market share by region 2014-2019
Exhibit 16: CAGR comparison by region
Exhibit 17: Examples of smart city development
Exhibit 18: Segmentation of countries according to economic stability
Exhibit 19: Upcoming high-rise buildings by end-use (by 2019)
Exhibit 20: Tallest five upcoming residential buildings globally
Exhibit 21: Tallest five upcoming commercial buildings globally
Exhibit 22: Urban population by region 2010-2019
Exhibit 23: Impact of drivers
Exhibit 24: Impact of drivers and challenges
Exhibit 25: Other advanced systems used in smart elevators
Exhibit 26: Maximum speed of elevators in some prominent high-rise buildings
Exhibit 27: Expected change in population according to age 2010-2019
Exhibit 28: Fastest elevators manufactured and installed globally
Exhibit 29: Hitachi: Business segmentation by revenue 2015
Exhibit 30: Hitachi: Geographical segmentation by revenue 2015
Exhibit 31: Mitsubishi Electric: Business segmentation by revenue 2014
Exhibit 32: Mitsubishi Electric: Business segmentation by revenue 2014 and 2015 ($ billions)
Exhibit 33: Mitsubishi Electric: Geographical segmentation by revenue 2015
Exhibit 34: Schindler: Product segmentation
Exhibit 35: Schindler: Geographical segmentation by revenue 2014
Exhibit 36: ThyssenKrupp: Business segmentation by revenue 2014
Exhibit 37: ThyssenKrupp: Business segmentation by revenue 2013 and 2014 ($ billions)
Exhibit 38: ThyssenKrupp: Geographical segmentation by revenue 2014
Exhibit 39: TELC: Product segmentation
