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 Elevator Modernization Market Size and Share Elevator Modernization Market Scope and Analysis

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
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    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