Traction Elevators Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET INTRODUCTION

The traction elevators are commonly used type of elevators observed in commercial and residential buildings. At present, the traction elevators are utilizing flat steel belts rather than conventional steel ropes. As flat steel belts are of very lightweight because of their carbon fiber core and high-friction coating, and can function without oil/lubricant. Because of mentioned aspects, elevator energy consumption among high-rise buildings can be controlled considerably which is making their adoption more in building

MARKET DYNAMICS

Rise in the infrastructural projects of commercial buildings like offices, shopping complexes will help in driving the growth of traction elevators. Also, with rising demand for energy consumption in high-rise buildings is another factor that will drive the adoption of traction elevators and thus influencing the market growth. In addition to this, favorable government support in construction industry especially the residential sector is projected to grow and which is anticipated to provide ample of growth opportunities to the players operating in the traction elevators market.

MARKET SCOPE

The "Global Traction Elevators Market Analysis to 2031" is a specialized and in-depth study of the manufacturing and construction industry with a special focus on the global market trend analysis. The report aims to provide an overview of the traction elevators market with detailed market segmentation - type, application, and geography. The global traction elevators market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading traction elevators market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

The global traction elevators market is segmented on the basis of type and application. Based on type, the traction elevators market is segmented into geared traction elevators, gearless traction elevators. On the basis of application, the traction elevators market is segmented into commercial, residential.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global traction elevators market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The traction elevators market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the traction elevators market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South & Central America after evaluating political, economic, social and technological factors affecting the traction elevators in these regions.

MARKET PLAYERS

The reports cover key developments in the traction elevators market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from traction elevators market are anticipated to lucrative growth opportunities in the future with the rising demand for traction elevators in the global market. Below mentioned is the list of few companies engaged in the traction elevators market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the traction elevators market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   Delaware Elevator
•   Delta
•   ESCON
•   Kone
•   Oscan Elevators
•   Otis Elevator Company
•   Savaria
•   Schumacher
•   Schindler
•   Thyssenkrupp

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Traction Elevators Report Scope