Elevator Modernization Market Scope And Analysis

Report Code : TIPTE100000619
Category : Electronics and Semiconductor

No. of Pages : 150

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Elevator Modernization Market Scope and Analysis Report by 2031

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Elevator Modernization Market Report Scope

Report Attribute	Details
Market size in 2023	US$ 12.83 Billion
Market Size by 2031	US$ 22.04 Billion
Global CAGR (2023 - 2031)	6.9%
Historical Data	2021-2022
Forecast period	2024-2031
Segments Covered	By Type Hydraulic Traction By Component Power Units Cabin Enclosures Controllers Signalling Fixtures Door Equipment By End User Industrial Residential Building Institutional Marine Commercial
Regions and Countries Covered	North America US Canada Mexico Europe UK Germany France Russia Italy Rest of Europe Asia-Pacific China India Japan Australia Rest of Asia-Pacific South and Central America Brazil Argentina Rest of South and Central America Middle East and Africa South Africa Saudi Arabia UAE Rest of Middle East and Africa
Market leaders and key company profiles	KONE Corporation United Elevator Corp Siemens Schindler Mitsubishi Electric US Inc TK Elevator FUJITEC CO LTD Hitachi Ltd TOSHIBA HYUNDAI ELEVATOR CO LTD

Elevator Modernization Market News and Recent Developments

The elevator modernization market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market:

In January 2024, - Otis Brazil completed the technological and aesthetic modernization of 13 elevators in the iconic Birmann 21 building in São Paulo, completing the 36-month modernization project on schedule. Otis Brazil is part of Otis Worldwide Corporation, the world leader in the manufacture, installation, and maintenance of elevators and escalators.

(Source: Otis, Press Release, 2023)

In March 2022, Taoping Inc., one of the providers of blockchain technology and smart cloud services, announced that the company has entered into a strategic cooperation agreement (“Agreement”) with Shenzhen Zhihui Yunti IoT Co., Ltd. to jointly address the market needs of the elevator modernization and maintenance.

(Source: Taoping Inc., Press Release, 2022)

Elevator Modernization Market Report Coverage and Deliverables

The "Elevator Modernization Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:

Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
Market dynamics such as drivers, restraints, and key opportunities
Key future trends
Detailed PEST/Porter's Five Forces and SWOT analysis
Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
Detailed company profiles