Manufacturing & Construction / Residential Elevators Market - Growth, Trends And Forecast (2022 - 2027) By Types, By Application, By Regions And By Key Players: ThyssenKrupp, Otis, Mitsubishi, Hitachi
Residential Elevators Market - Growth, Trends And Forecast (2022 - 2027) By Types, By Application, By Regions and By Key Players: ThyssenKrupp, Otis, Mitsubishi, Hitachi
Acknowledging the kind of traction gained by this market, recently published a study report asserts the Lab Furniture market is expected to reach USD 2247.5 million by 2027, registering a phenomenal CAGR of 4.2% during the review period (2022 to 2027)
Residential Elevators Market Overview
The global elevator control market was valued at USD 6.91 billion in 2022, and it is expected to reach USD 9.80 billion by 2027, registration a CAGR of around 4.2%, during the period of 2022-2027. The eruption of the COVID-19 across the globe has significantly disrupted the supply chain and making of the elevator control market in 2020. To prevent the spread of the coronavirus, administrations in several nations have limited the amount of personnel across various manufacturing verticals.
Rise in development across the world in search of a job and healthier life standard has led to an surge in demand for housing apartments. In order to cater to the needs, governments have supported the building of the multi-storey building to quarter the all-out number of families in the same land area. According to the United Nation, more than one half of the world population lives in urban areas, and virtually all countries are feeling urbanization. Industrialized countries’ large population resides in urban areas, whereas developing countries in Africa and Asia, still dwell in rural areas but will urbanize faster than other areas over the coming periods. It will drive the elevator control market in the coming years.
Industry News And Development
March 10 2021: Hitachi ABB Power Grids in India has won orders worth INR 160 crore from the Government of India’s electric locomotive manufacturer, Chittaranjan Locomotive Works (CLW), and the Central Organization for Rail Electrification (CORE), to power electric freight locomotives for the Indian Railways.
August 20, 2020: Ram Truck announced that orders for the 2021 Ram 1500 TRX Launch Edition were filled in approximately three hours on Tues., Aug. 18. Only 702 – commemorating the TRX’s barrier-shattering 702-horsepower 6.2-liter supercharged HEMI V-8 – of the Launch Edition trucks were offered to U.S. buyers.
March 2021: Mitsubishi Electric Corporation announced that its subsidiary, Mitsubishi Elevator (Thailand) Co. Ltd (MET), secured a major order from the One Bangkok project. The order from One Bangkok primarily consists of around 250 elevators, including 12 double-deck elevators, the first of its kind in Thailand, and 28 escalators, totaling 278 units.
Who are the Major Players in Residential Elevators Market?
Top Key players in the Residential Elevators Market have been identified through secondary research, and their market shares have been determined through primary and secondary research. The global Residential Elevators Market is fragmented with a large number of small players operating worldwide. The companies referred in the market research report includes ThyssenKrupp, Otis, Mitsubishi, Hitachi, Cibes, Aritco, Stannah, Fujitec, RAM Manufacturing, Orona, Kone, Inclinator, Yungtay Engineering, Terry Lifts, Barduva, Yuncheng, Kleeman, Dongnan, Sigma, Canny Elevator and others.
What are the major Applications, Types and Regions for Residential Elevators Market?
Residential Elevators Market is segmented based on the type, applications, companies and regions.
By Type, Residential Elevators Market has been segmented into
Platform Lifts
Cabin Lifts
Other Lifts
The end user’s industry application on Residential Elevators Market is
Private Home
Public Space
Residential
Commercial
Institutional
Industrial
Smart Elevator Market, by Component
Control System
Maintenance System
Communication System
Smart Elevator Market, by Service
New Installation
Maintenance
Renovation
Residential Elevators Market Regional Analysis
The Asia-Pacific region is witnessing the growing presence of multinational companies due to the opportunities offered by the emerging markets, in terms of infrastructure and reduced labor costs. These companies are looking for ways to streamline operations in a more established market and increasing their headcount in Asian countries.
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Rest of the World
Middle East & Africa
Latin America
What is our Residential Elevators Market report scope?
Report Attributes
Report Details
Forecast Period 2022 to 2028 CAGR
CAGR of 4.2% during the review period (2022 to 2027).
Yes, the report can be customized as per your needs
Key Takeaways from this Residential Elevators Report
Evaluate Residential Elevators market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, end use applications and by different industry verticals.
Understand the different dynamics influencing the market - key driving factors, challenges and hidden opportunities.
Get in-depth insights on your competitor performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
Analyze the sales and distribution channels across key geographies to improve top-line revenues.
Understand the industry supply chain with a deep dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.
Get a quick outlook on the Residential Elevators market entropy - M&A's, deals, partnerships, product launches of all key players for the past 4 years.
Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.
All our reports are customizable to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.
Frequently Asked Question -
What is the study period of this market?
The Residential Elevators Market is studied from 2022-2027.
Who are the Prime players in the Residential Elevators Market?
Which region held the largest share in the Residential Elevators Market?
United States, Europe, China, Japan, Southeast Asia, India and Rest of World
What are the significant types of Residential Elevators Market?
Platform Lifts, Cabin Lifts, Other Lifts
What are the major end-use applications of Residential Elevators Market?
Private Home, Public Space, Residential, Commercial, Institutional, Industrial
SECONDARY RESEARCH Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
