World Elevators to 2017

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Date: 23-Dec-2013
No. of pages: 362
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This study analyzes the world elevator industry. It presents historical demand data for 2002, 2007 and 2012, and forecasts for 2017 and 2022 by product (e.g., passenger and freight elevators, escalators and moving walkways), service (installation, modernization and repair), market (residential, nonresidential), world region and for 16 countries. The study also considers market environment factors, details industry structure, evaluates company market share and profiles industry players.

World demand to rise nearly 6% annually through 2017

Global demand for elevator equipment (including elevators, escalators, moving walkways, and associated parts) and services was $86 billion in 2012. Demand is projected to grow almost six percent annually through 2017, a deceleration from the pace of the 2007-2012 period, when gains were fueled by explosive growth of more than 25 percent per year in China. Even though the Chinese market will cool from that breakneck pace, it will still generate nearly one-half of the increase in the world demand for elevator equipment and services between 2012 and 2017.

Other developing markets that will contribute to global advances through 2017 include India, as the country adds 50 million urban residents and per capita GDP increases faster than the global average. Central and South America is expected to see above-average increases, led by Brazil, the region’s largest elevator market. The Africa/Mideast region is also expected to experience strong growth, though much of the expansion will be confined to Turkey and high-income urban areas in the Middle East.

US market to outpace most high-income countries

Growth in the US demand for elevator services will outpace that in most highincome countries, as the market will be recovering from a very low 2012 base. Increases in Japan and Western Europe will be below the world average, but will also mark significant increases from the marginal growth in the 2007 to 2012 period.

Elevator equipment demand to outpace elevator services

In 2007, global demand for elevator services exceeded demand for equipment. Western Europe, then the world’s largest regional market, had a large installed base of elevators and stringent safety codes bolstered the modernization and repair service market. However, 2012 marked a significant change in the global market, as demand for equipment exceeded service demand for the first time, driven by strong growth in new unit installations in the developing world. That trend is expected to continue through 2017, as the many new units recently added in developing countries will not need as many costly repairs as Western Europe’s aging stock, and safety codes may be less strictly enforced.

China’s share of new unit sales to decline slightly

Passenger and freight elevator sales on a per unit basis were 914,000 units in 2012. While the Chinese elevator market made up over 30 percent of global demand by value, it was even more significant on a per unit basis, as 58 percent of the world’s new elevator units were sold in China in 2012. World new unit sales are forecast to grow 3.4 percent annually through 2017 to 1.1 million, though China’s share will decline slightly.

MRL elevators to continue gaining market share

Through 2017, the equipment market will focus on energy efficient elevators, escalators and moving walkways. Manufacturers have introduced many new technologies and improved existing ones to be more efficient. Space and energy saving machine room-less (MRL) elevators will continue to increase their penetration of the global elevator market through 2017, and will dominate the market in the ensuing years.

Company Profiles

Profiles 41 competitors in the industry worldwide including Hitachi, KONE, Otis Elevator (United Technologies), Schindler and ThyssenKrupp

Additional Information

This study analyzes the global market for elevators (including passenger and freight elevators), escalators and moving walkways, and associated parts, such as controls, doors, sensors, and power transmission equipment, which are sold separately. This study also covers demand for installation services and modernization services. For purposes of this study, general references to elevators or the elevator market will include escalators and moving walkways, parts, and services while elevators themselves, often referred to as lifts in European publications, will be described as passenger and freight elevators. Products beyond the scope of this study include aerial work platforms (man lifts) and conveyor systems used for the transport of goods.

Historical data (2002, 2007, 2012) and forecasts for 2017 and 2022 are provided for elevator supply and demand by type (i.e., passenger and freight elevators, escalators and moving walkways, parts and miscellaneous equipment, installation services, modernization and repair services) and market (i.e.,residential, nonresidential) for six regions and 18 major national markets. Market data are valued in US dollars, but data for passenger and freight elevators are also provided in units.

World Elevators to 2017

Table Of Contents

Introduction XI

I.Executive Summary 1

II.Market Environment 4
General 4
World Economic Overview 5
Recent Historical Trends 5
World Economic Outlook 7
World Demographic Overview 10
Population 11
Urban Population 12
Per Capita Gross Domestic Product 14
World Building Construction Outlook 16
Residential 18
Nonresidential 19
Legal & Regulatory Overview 21
Safety Regulations 22
Other Regulations 23
Pricing Trends 24

III.Overview 27
Demand by Region 27
Relationship of Per Capita Income & Elevator Demand 29
Demand by Product & Service 33
Equipment 34
Passenger & Freight Elevators 35
Escalators & Moving Walkways 40
Other Equipment & Parts 41
Elevator Services 43
Installation 44
Modernization & Repair 45
Demand by Market 47
Residential 48
Nonresidential 49
Shipments by Region 49
International Trade 51

IV.North America 55
General 55
Supply & Demand 56
Demand by Type & Market 58
Passenger/Freight Elevator Demand 60
United States 61
Canada 67
Mexico 73

V.Western Europe 80
General 80
Supply & Demand 81
Demand by Type & Market 83
Passenger/Freight Elevator Demand 85
Spain 86
Italy 92
Germany 98
France 104
United Kingdom 110
Switzerland 116
Netherlands 122
Other Western Europe 128

VI.Asia/Pacific 134
General 134
Supply & Demand 135
Demand by Type & Market 137
Passenger/Freight Elevator Demand 139
China 141
Japan 149
South Korea 155
India 161
Other Asia/Pacific 167

VII.Other Regions 175
Central & South America 175
General 175
Supply & Demand 176
Demand by Type & Market 178
Passenger/Freight Elevator Demand 180
Brazil 181
Other Central & South America 188
Eastern Europe 193
General 193
Supply & Demand 195
Demand by Type & Market 196
Passenger/Freight Elevator Demand 198
Russia 199
Other Eastern Europe 206
Africa/Mideast 211
General 211
Supply & Demand 213
Demand by Type & Market 214
Passenger/Freight Elevator Demand 216
Turkey 217
Saudi Arabia 223
Other Africa/Mideast 229

VIII.Industry Structure 237
General 237
Industry Composition 238
Market Share 240
Manufacturing & Development 244
Marketing & Distribution 246
Mergers & Acquisitions 248
Cooperative Agreements 251
Company Profiles 255
AKE Asansör ve Yürüyen Merdiven San Ticoret 256
Alimak Hek Group AB 257
Apex Elevators Private Limited 259
Bucher Industries AG 261
Canny Elevator Company Limited 264
China Ningbo Xinda Group Company Limited 266
City Lifts India Limited 268
Delta Elevator Company Limited 269
Eagle Elevator India 271
Edmonds Elevator, see ThyssenKrupp Emerson Electric Company 272
Eros Elevators Private Limited 274
Eskay Elevators Private Limited 275
ETA-Melco Elevator, see Mitsubishi Electric FARMA Srl 277
Fujitec Company Limited 279
Hitachi Limited 283
Hütter-Aufzüge GmbH 286
Hyundai Elevator Company Limited 287
Imem Ascensores SL 290
Imperial Electric, see Nidec Johnson Lifts Private Limited 292
Karacharovo Mechanical Factory Open Joint Stock Company 294
Kinetek, see Nidec KONE Corporation 296
Leroy-Somer, see Emerson Electric LM Liftmaterial, see SEMATIC Italia Löher Asansör ve Yürüyen Merdiven San ve Ticaret AS 302
Mitsubishi Electric Corporation 304
Mitsubishi Hitachi Home Elevator, see Hitachi and Mitsubishi Electric Motion Control Engineering, see Nidec Nidec Corporation 308
Ningbo Hongda Elevator and Technology, see China Ningbo Xinda Group Ningbo Xinda Elevator Accessories, see China Ningbo Xinda Group Omega Elevators 311
Orona S. Cooperativa 313
Otis Elevator, see United Technologies Pickerings Europe Limited 315
Schindler Holding Limited 317
SEMATIC Italia SpA 322
Shenyang Brilliant Elevator Company Limited 325
SIGMA Elevator, see United Technologies Skyline Elevator, see Schindler Holding SODIMAS SA 327
Sterling Elevator Services, see ThyssenKrupp Suzhou Jiangnan Jiajie Elevator Company Limited 329
Symax Lift Holding Company Limited 330
TECNO Srl 331
ThyssenKrupp AG 334
Toshiba Corporation 341
Toshiba Johnson Elevators India Private, see Johnson Lifts Private and Toshiba Tüv Süd AG 344
Tyler Elevator Products, see SEMATIC Italia United Technologies Corporation 345
Vestner Aufzüge GmbH & Company KG 351
WITTUR Holding GmbH 352
Yungtay Engineering Company Limited 355
Other Companies In the Elevator Industry 357

List Of Tables

Section I -- Executive Summary
Summary Table 3

Section II -- Market Environment
1 World Gross Domestic Product by Region 10
2 World Population by Region 12
3 World Urban Population by Region 14
4 World Per Capita Gross Domestic Product by Region 16
5 World Building Construction Expenditures by Region 17
6 World Residential Building Construction Expenditures by Region 19
7 World Nonresidential Building Construction Expenditures by Region 21
8 Average Passenger/Freight Elevator Prices by Region 26

Section III -- Overview
1 World Elevator Demand by Region 29
2 World Elevator Equipment & Services Demand 34
3 World Passenger/Freight Elevator Demand by Region 38
4 World Escalator & Moving Walkway Demand by Region 41
5 World Elevator Other Equipment & Parts Demand by Region 43
6 World Elevator Installation Services Demand by Region 45
7 World Elevator Modernization & Repair Services Demand 47
8 World Elevator Equipment & Services Demand by Market 48
9 World Elevator Equipment Shipments by Region 51
10 World Elevator Equipment Net Exports & Stock Change by Region 53

Section IV -- North America
1 North America: Elevator Supply & Demand 58
2 North America: Elevator Demand by Type & Market 60
3 North America: Passenger/Freight Elevator Demand 61
4 United States: Elevator Supply & Demand 64
5 United States: Elevator Demand by Type & Market 66
6 United States: Passenger/Freight Elevator Demand 67
7 Canada: Elevator Supply & Demand 70
8 Canada: Elevator Demand by Type & Market 71
9 Canada: Passenger/Freight Elevator Demand 73
10 Mexico: Elevator Supply & Demand 76
11 Mexico: Elevator Demand by Type & Market 78
12 Mexico: Passenger/Freight Elevator Demand 79

Section V -- Western Europe
1 Western Europe: Elevator Supply & Demand 83
2 Western Europe: Elevator Demand by Type & Market 85
3 Western Europe: Passenger/Freight Elevator Demand 86
4 Spain: Elevator Supply & Demand 89
5 Spain: Elevator Demand by Type & Market 91
6 Spain: Passenger/Freight Elevator Demand 92
7 Italy: Elevator Supply & Demand 95
8 Italy: Elevator Demand by Type & Market 97
9 Italy: Passenger/Freight Elevator Demand 98
10 Germany: Elevator Supply & Demand 101
11 Germany: Elevator Demand by Type & Market 103
12 Germany: Passenger/Freight Elevator Demand 104
13 France: Elevator Supply & Demand 107
14 France: Elevator Demand by Type & Market 109
15 France: Passenger/Freight Elevator Demand 110
16 United Kingdom: Elevator Supply & Demand 113
17 United Kingdom: Elevator Demand by Type & Market 115
18 United Kingdom: Passenger/Freight Elevator Demand 116
19 Switzerland: Elevator Supply & Demand 119
20 Switzerland: Elevator Demand by Type & Market 121
21 Switzerland: Passenger/Freight Elevator Demand 122
22 Netherlands: Elevator Supply & Demand 125
23 Netherlands: Elevator Demand by Type & Market 127
24 Netherlands: Passenger/Freight Elevator Demand 128
25 Other Western Europe: Elevator Supply & Demand 131
26 Other Western Europe: Elevator Demand by Type & Market 132
27 Other Western Europe: Passenger/Freight Elevator Demand 133

Section VI -- Asia/Pacific
1 Asia/Pacific: Elevator Supply & Demand 137
2 Asia/Pacific: Elevator Demand by Type & Market 139
3 Asia/Pacific: Passenger/Freight Elevator Demand 140
4 China: Elevator Supply & Demand 144
5 China: Elevator Demand by Type & Market 146
6 China: Passenger/Freight Elevator Demand 148
7 Japan: Elevator Supply & Demand 151
8 Japan: Elevator Demand by Type & Market 153
9 Japan: Passenger/Freight Elevator Demand 154
10 South Korea: Elevator Supply & Demand 157
11 South Korea: Elevator Demand by Type & Market 159
12 South Korea: Passenger/Freight Elevator Demand 160
13 India: Elevator Supply & Demand 163
14 India: Elevator Demand by Type & Market 165
15 India: Passenger/Freight Elevator Demand 167
16 Other Asia/Pacific: Elevator Supply & Demand 170
17 Other Asia/Pacific: Elevator Demand by Type & Market 172
18 Other Asia/Pacific: Passenger/Freight Elevator Demand 174

Section VII -- Other Regions
1 Central & South America: Elevator Supply & Demand 178
2 Central & South America: Elevator Demand by Type & Market 180
3 Central & South America: Passenger/Freight Elevator Demand 181
4 Brazil: Elevator Supply & Demand 184
5 Brazil: Elevator Demand by Type & Market 186
6 Brazil: Passenger/Freight Elevator Demand 187
7 Other Central & South America: Elevator Supply & Demand 190
8 Other Central & South America: Elevator Demand by Type & Market 192
9 Other Central & South America: Passenger/Freight Elevator Demand 193
10 Eastern Europe: Elevator Supply & Demand 196
11 Eastern Europe: Elevator Demand by Type & Market 198
12 Eastern Europe: Passenger/Freight Elevator Demand 199
13 Russia: Elevator Supply & Demand 202
14 Russia: Elevator Demand by Type & Market 204
15 Russia: Passenger/Freight Elevator Demand 205
16 Other Eastern Europe: Elevator Supply & Demand 208
17 Other Eastern Europe: Elevator Demand by Type & Market 210
18 Other Eastern Europe: Passenger/Freight Elevator Demand 211
19 Africa/Mideast: Elevator Supply & Demand 214
20 Africa/Mideast: Elevator Demand by Type & Market 216
21 Africa/Mideast: Passenger/Freight Elevator Demand 217
22 Turkey: Elevator Supply & Demand 220
23 Turkey: Elevator Demand by Type & Market 222
24 Turkey: Passenger/Freight Elevator Demand 223
25 Saudi Arabia: Elevator Supply & Demand 226
26 Saudi Arabia: Elevator Demand by Type & Market 227
27 Saudi Arabia: Passenger/Freight Elevator Demand 229
28 Other Africa/Mideast: Elevator Supply & Demand 232
29 Other Africa/Mideast: Elevator Demand by Type & Market 234
30 Other Africa/Mideast: Passenger/Freight Elevator Demand 236

Section VIII -- Industry Structure
1 World Elevator Sales by Company, 2012 240
2 Selected Acquisitions & Divestitures 249
3 Selected Cooperative Agreements 253

List Of Charts

Section III -- Overview
1 Gross Domestic Product Per Capita & Elevator Demand Per Urban Resident Relationship, 2012 32
2 World Passenger/Freight Elevator Market, 2012 39
3 Interregional Trade in Elevator Equipment, 2012 54

Section VIII -- Industry Structure
1 World Elevator Market Share, 2012 241

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