World Elevators Market

  • December 2013
  • -
  • Freedonia
  • -
  • 362 pages

World demand to rise nearly 6% annually through 2017

Global demand for elevator equipment (including elevators, escalators, moving walkways, and associated parts) and services was $86 billion in 2012. Demand is projected to grow almost six percent annually through 2017, a deceleration from the pace of the 2007-2012 period, when gains were fueled by explosive growth of more than 25 percent per year in China. Even though the Chinese market will cool from that breakneck pace, it will still generate nearly one-half of the increase in the world demand for elevator equipment and services between 2012 and 2017.

Other developing markets that will contribute to global advances through 2017 include India, as the country adds 50 million urban residents and per capita GDP increases faster than the global average. Central and South America is expected to see above-average increases, led by Brazil, the region’s largest elevator market. The Africa/Mideast region is also expected to experience strong growth, though much of the expansion will be confined to Turkey and high-income urban areas in the Middle East.

US market to outpace most high-income countries

Growth in the US demand for elevator services will outpace that in most highincome countries, as the market will be recovering from a very low 2012 base. Increases in Japan and Western Europe will be below the world average, but will also mark significant increases from the marginal growth in the 2007 to 2012 period.

Elevator equipment demand to outpace elevator services

In 2007, global demand for elevator services exceeded demand for equipment. Western Europe, then the world’s largest regional market, had a large installed base of elevators and stringent safety codes bolstered the modernization and repair service market. However, 2012 marked a significant change in the global market, as demand for equipment exceeded service demand for the first time, driven by strong growth in new unit installations in the developing world. That trend is expected to continue through 2017, as the many new units recently added in developing countries will not need as many costly repairs as Western Europe’s aging stock, and safety codes may be less strictly enforced.

China’s share of new unit sales to decline slightly

Passenger and freight elevator sales on a per unit basis were 914,000 units in 2012. While the Chinese elevator market made up over 30 percent of global demand by value, it was even more significant on a per unit basis, as 58 percent of the world’s new elevator units were sold in China in 2012. World new unit sales are forecast to grow 3.4 percent annually through 2017 to 1.1 million, though China’s share will decline slightly.

MRL elevators to continue gaining market share

Through 2017, the equipment market will focus on energy efficient elevators, escalators and moving walkways. Manufacturers have introduced many new technologies and improved existing ones to be more efficient. Space and energy saving machine room-less (MRL) elevators will continue to increase their penetration of the global elevator market through 2017, and will dominate the market in the ensuing years.

Study coverage

This upcoming Freedonia industry study, World Elevators, is priced at $6100. It presents historical demand data for 2002, 2007 and 2012, plus forecasts for 2017 and 2022 by product, service, market, world region, and for 18 countries. The study also considers market environment factors, evaluates company market share and profiles 41 global industry players such as Hitachi, KONE, Otis Elevator (United Technologies), Schindler and ThyssenKrupp.

Table Of Contents

TABLE OF CONTENTS

INTRODUCTION xi

I. EXECUTIVE SUMMARY 1

II. MARKET ENVIRONMENT 4

General 4
World Economic Overview 5
Recent Historical Trends 5
World Economic Outlook 7
World Demographic Overview 10
Population 11
Urban Population 12
Per Capita Gross Domestic Product 14
World Building Construction Outlook 16
Residential 18
Nonresidential 19
Legal and Regulatory Overview 21
Safety Regulations 22
Other Regulations 23
Pricing Trends 24

III. OVERVIEW 27

Demand by Region 27
Relationship of Per Capita Income and Elevator Demand 29
Demand by Product and Service 33
Equipment 34
Passenger and Freight Elevators 35
Escalators and Moving Walkways 40
Other Equipment and Parts 41
Elevator Services 43
Installation 44
Modernization and Repair 45
Demand by Market 47
Residential 48
Nonresidential 49
Shipments by Region 49
International Trade 51

IV. NORTH AMERICA 55

General 55
Supply and Demand 56
Demand by Type and Market 58
Passenger/Freight Elevator Demand 60
United States 61
Canada 67
Mexico 73

V. WESTERN EUROPE 80

General 80
Supply and Demand 81
Demand by Type and Market 83
Passenger/Freight Elevator Demand 85
Spain 86
Italy 92
Germany 98
France 104
United Kingdom 110
Switzerland 116
Netherlands 122
Other Western Europe 128

VI. ASIA/PACIFIC 134

General 134
Supply and Demand 135
Demand by Type and Market 137
Passenger/Freight Elevator Demand 139
China 141
Japan 149
South Korea 155
India 161
Other Asia/Pacific 167

VII. OTHER REGIONS 175

Central and South America 175
General 175
Supply and Demand 176
Demand by Type and Market 178
Passenger/Freight Elevator Demand 180
Brazil 181
Other Central and South America 188
Eastern Europe 193
General 193
Supply and Demand 195
Demand by Type and Market 196
Passenger/Freight Elevator Demand 198
Russia 199
Other Eastern Europe 206
Africa/Mideast 211
General 211
Supply and Demand 213
Demand by Type and Market 214
Passenger/Freight Elevator Demand 216
Turkey 217
Saudi Arabia 223
Other Africa/Mideast 229

VIII. INDUSTRY STRUCTURE 237

General 237
Industry Composition 238
Market Share 240
Manufacturing and Development 244
Marketing and Distribution 246
Mergers and Acquisitions 248
Cooperative Agreements 251
Company Profiles 255
AKE Asansör ve Yürüyen Merdiven San Ticoret 256
Alimak Hek Group AB 257
Apex Elevators Private Limited 259
Bucher Industries AG 261
Canny Elevator Company Limited 264
China Ningbo Xinda Group Company Limited 266
City Lifts India Limited 268
Delta Elevator Company Limited 269
Eagle Elevator India 271
Edmonds Elevator, see ThyssenKrupp
Emerson Electric Company 272
Eros Elevators Private Limited 274
Eskay Elevators Private Limited 275
ETA-Melco Elevator, see Mitsubishi Electric
FARMA Srl 277
Fujitec Company Limited 279
Hitachi Limited 283
Hütter-Aufzüge GmbH 286
Hyundai Elevator Company Limited 287
Imem Ascensores SL 290
Imperial Electric, see Nidec
Johnson Lifts Private Limited 292
Karacharovo Mechanical Factory Open Joint Stock
Company 294
Kinetek, see Nidec
KONE Corporation 296
Leroy-Somer, see Emerson Electric
LM Liftmaterial, see SEMATIC Italia
Löher Asansör ve Yürüyen Merdiven San ve Ticaret A? 302
Mitsubishi Electric Corporation 304
Mitsubishi Hitachi Home Elevator, see Hitachi
and Mitsubishi Electric
Motion Control Engineering, see Nidec
Nidec Corporation 308
Ningbo Hongda Elevator and Technology, see China
Ningbo Xinda Group
Ningbo Xinda Elevator Accessories, see China
Ningbo Xinda Group
Omega Elevators 311
Orona S. Cooperativa 313
Otis Elevator, see United Technologies
Pickerings Europe Limited 315
Schindler Holding Limited 317
SEMATIC Italia SpA 322
Shenyang Brilliant Elevator Company Limited 325
SIGMA Elevator, see United Technologies
Skyline Elevator, see Schindler Holding
SODIMAS SA 327
Sterling Elevator Services, see ThyssenKrupp
Suzhou Jiangnan Jiajie Elevator Company Limited 329
Symax Lift Holding Company Limited 330
TECNO Srl 331
ThyssenKrupp AG 334
Toshiba Corporation 341
Toshiba Johnson Elevators India Private, see Johnson
Lifts Private and Toshiba
Tüv Süd AG 344
Tyler Elevator Products, see SEMATIC Italia
United Technologies Corporation 345
Vestner Aufzüge GmbH and Company KG 351
WITTUR Holding GmbH 352
Yungtay Engineering Company Limited 355
Other Companies In the Elevator Industry 357



LIST OF TABLES

SECTION I -- EXECUTIVE SUMMARY

Summary Table 3

SECTION II -- MARKET ENVIRONMENT

1 World Gross Domestic Product by Region 10
2 World Population by Region 12
3 World Urban Population by Region 14
4 World Per Capita Gross Domestic Product by Region 16
5 World Building Construction Expenditures by Region 17
6 World Residential Building Construction Expenditures
by Region 19
7 World Nonresidential Building Construction Expenditures
by Region 21
8 Average Passenger/Freight Elevator Prices by Region 26

SECTION III -- OVERVIEW

1 World Elevator Demand by Region 29
2 World Elevator Equipment and Services Demand 34
3 World Passenger/Freight Elevator Demand by Region 38
4 World Escalator and Moving Walkway Demand by Region 41
5 World Elevator Other Equipment and Parts Demand by Region 43
6 World Elevator Installation Services Demand by Region 45
7 World Elevator Modernization and Repair Services Demand 47
8 World Elevator Equipment and Services Demand by Market 48
9 World Elevator Equipment Shipments by Region 51
10 World Elevator Equipment Net Exports and Stock Change
by Region 53

SECTION IV -- NORTH AMERICA

1 North America: Elevator Supply and Demand 58
2 North America: Elevator Demand by Type and Market 60
3 North America: Passenger/Freight Elevator Demand 61
4 United States: Elevator Supply and Demand 64
5 United States: Elevator Demand by Type and Market 66
6 United States: Passenger/Freight Elevator Demand 67
7 Canada: Elevator Supply and Demand 70
8 Canada: Elevator Demand by Type and Market 71
9 Canada: Passenger/Freight Elevator Demand 73
10 Mexico: Elevator Supply and Demand 76
11 Mexico: Elevator Demand by Type and Market 78
12 Mexico: Passenger/Freight Elevator Demand 79

SECTION V -- WESTERN EUROPE

1 Western Europe: Elevator Supply and Demand 83
2 Western Europe: Elevator Demand by Type and Market 85
3 Western Europe: Passenger/Freight Elevator Demand 86
4 Spain: Elevator Supply and Demand 89
5 Spain: Elevator Demand by Type and Market 91
6 Spain: Passenger/Freight Elevator Demand 92
7 Italy: Elevator Supply and Demand 95
8 Italy: Elevator Demand by Type and Market 97
9 Italy: Passenger/Freight Elevator Demand 98
10 Germany: Elevator Supply and Demand 101
11 Germany: Elevator Demand by Type and Market 103
12 Germany: Passenger/Freight Elevator Demand 104
13 France: Elevator Supply and Demand 107
14 France: Elevator Demand by Type and Market 109
15 France: Passenger/Freight Elevator Demand 110
16 United Kingdom: Elevator Supply and Demand 113
17 United Kingdom: Elevator Demand by Type and Market 115
18 United Kingdom: Passenger/Freight Elevator Demand 116
19 Switzerland: Elevator Supply and Demand 119
20 Switzerland: Elevator Demand by Type and Market 121
21 Switzerland: Passenger/Freight Elevator Demand 122
22 Netherlands: Elevator Supply and Demand 125
23 Netherlands: Elevator Demand by Type and Market 127
24 Netherlands: Passenger/Freight Elevator Demand 128
25 Other Western Europe: Elevator Supply and Demand 131
26 Other Western Europe: Elevator Demand by Type and Market 132
27 Other Western Europe: Passenger/Freight Elevator Demand 133

SECTION VI -- ASIA/PACIFIC

1 Asia/Pacific: Elevator Supply and Demand 137
2 Asia/Pacific: Elevator Demand by Type and Market 139
3 Asia/Pacific: Passenger/Freight Elevator Demand 140
4 China: Elevator Supply and Demand 144
5 China: Elevator Demand by Type and Market 146
6 China: Passenger/Freight Elevator Demand 148
7 Japan: Elevator Supply and Demand 151
8 Japan: Elevator Demand by Type and Market 153
9 Japan: Passenger/Freight Elevator Demand 154
10 South Korea: Elevator Supply and Demand 157
11 South Korea: Elevator Demand by Type and Market 159
12 South Korea: Passenger/Freight Elevator Demand 160
13 India: Elevator Supply and Demand 163
14 India: Elevator Demand by Type and Market 165
15 India: Passenger/Freight Elevator Demand 167
16 Other Asia/Pacific: Elevator Supply and Demand 170
17 Other Asia/Pacific: Elevator Demand by Type and Market 172
18 Other Asia/Pacific: Passenger/Freight Elevator Demand 174

SECTION VII -- OTHER REGIONS

1 Central and South America: Elevator Supply and Demand 178
2 Central and South America: Elevator Demand by Type
and Market 180
3 Central and South America: Passenger/Freight Elevator
Demand 181
4 Brazil: Elevator Supply and Demand 184
5 Brazil: Elevator Demand by Type and Market 186
6 Brazil: Passenger/Freight Elevator Demand 187
7 Other Central and South America: Elevator Supply
and Demand 190
8 Other Central and South America: Elevator Demand
by Type and Market 192
9 Other Central and South America: Passenger/Freight
Elevator Demand 193
10 Eastern Europe: Elevator Supply and Demand 196
11 Eastern Europe: Elevator Demand by Type and Market 198
12 Eastern Europe: Passenger/Freight Elevator Demand 199
13 Russia: Elevator Supply and Demand 202
14 Russia: Elevator Demand by Type and Market 204
15 Russia: Passenger/Freight Elevator Demand 205
16 Other Eastern Europe: Elevator Supply and Demand 208
17 Other Eastern Europe: Elevator Demand by Type and Market 210
18 Other Eastern Europe: Passenger/Freight Elevator Demand 211
19 Africa/Mideast: Elevator Supply and Demand 214
20 Africa/Mideast: Elevator Demand by Type and Market 216
21 Africa/Mideast: Passenger/Freight Elevator Demand 217
22 Turkey: Elevator Supply and Demand 220
23 Turkey: Elevator Demand by Type and Market 222
24 Turkey: Passenger/Freight Elevator Demand 223
25 Saudi Arabia: Elevator Supply and Demand 226
26 Saudi Arabia: Elevator Demand by Type and Market 227
27 Saudi Arabia: Passenger/Freight Elevator Demand 229
28 Other Africa/Mideast: Elevator Supply and Demand 232
29 Other Africa/Mideast: Elevator Demand by Type and Market 234
30 Other Africa/Mideast: Passenger/Freight Elevator Demand 236

SECTION VIII -- INDUSTRY STRUCTURE

1 World Elevator Sales by Company, 2012 240
2 Selected Acquisitions and Divestitures 249
3 Selected Cooperative Agreements 253



LIST OF CHARTS

SECTION III -- OVERVIEW

1 Gross Domestic Product Per Capita and Elevator Demand
Per Urban Resident Relationship, 2012 32
2 World Passenger/Freight Elevator Market, 2012 39
3 Interregional Trade in Elevator Equipment, 2012 54

SECTION VIII -- INDUSTRY STRUCTURE

1 World Elevator Market Share, 2012 241

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