Over the past decade, the market for parts of lifts, skip hoists, or escalators in Germany has shown steady growth, increasing from 575.56 million euros in 2013 to 952.32 million euros in 2023. The market experienced a notable decline in 2015 but recovered with significant growth in 2017 and stabilized towards the end of the period.
Year-on-year growth over the last two years indicates a slowdown in momentum, with 3.8% in 2022 and 3.62% in 2023. The compound annual growth rate (CAGR) from 2018 to 2023 averaged 4.46% annually, showcasing a robust long-term upward trend.
Future trends to watch for include:
- An increasing focus on smart technologies and connectivity in lift and escalator systems.
- Demand driven by urbanization and modernization of aging infrastructure.
- Potential impacts of regulatory changes and sustainability requirements.
- Continued investment in safety features and energy-efficient designs.
How does Germany rank in Parts of Lifts, Skip Hoists or Escalators Market Size Value?
| # | 6 Countries | Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 952,320,000 | 2023 | +3.62% | +4.46% | |
| 2 | 2 Spain | 512,050,000 | 2023 | +2.72% | +1.39% | View data |
| 3 | 3 Sweden | 186,660,000 | 2023 | +4.75% | +4.33% | View data |
| 4 | 4 United Kingdom | 183,490,000 | 2023 | -0.14% | +1.04% | View data |
| 5 | 5 Belgium | 79,081,000 | 2023 | -8.08% | -4.67% | View data |
