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Elevators Market Share

Report ID: GMI2834
Published Date: Apr 2024
Report Format: PDF

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Elevators Market Share

The key players operating in the market are Schindler, FUJITEC CO., LTD., Mitsubishi Electric Corporation, KONE, Hitachi, Ltd. all together comprises a market share of 20 - 25% in 2023. The market is highly fragmented as it has a large number of companies competing for market share, with no single player dominating the landscape. The market players offer various absorption chillers, catering to different needs and budgets. This opens the door for specialization among manufacturers.

Elevators Market Companies

Major players operating in the elevators industry include:

Schindler
FUJITEC CO., LTD.
Mitsubishi Electric Corporation
KONE
Hitachi, Ltd.
TK Elevator
HYUNDAIELEVATOR CO.,LTD.
Toshiba Group
Aritco Lift AB
EMAK
Sigma Elevator Company
Schumacher Elevator Company
ESCON Elevators Pvt Limited
Electra Elevators
CANNY ELEVATOR CO, LTD.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The market size of elevators was reached USD 81.91 billion in 2023 and is expected to register 2.5% CAGR from 2024 to 2032, owing to the increasing urbanization, advancements in technology, and changing consumer preferences worldwide.

Elevators industry from the machine room-less traction (MRT) segment recorded USD 12.36 billion in 2023 and is expected to register an appreciable CAGR from 2024-2032 due to growing urbanization and infrastructure development and strong demand for technology in mid-rise structures.

North America elevators industry is expected to reach USD 19.31 billion by 2032 due to favorable government policies and greater investment by both public and private entities in the region.

KONE, Hitachi, Ltd., TK Elevator, HYUNDAIELEVATOR CO.,LTD., Toshiba Group, Aritco Lift AB, EMAK, Sigma Elevator Company, Schumacher Elevator Company, ESCON Elevators Pvt Limited, Electra Elevators, and CANNY ELEVATOR CO, LTD., are some of the major elevators companies worldwide.