Global Elevator Service Market - Analysis By Service Type, End-User, By Region, By Country (2020 Edition) : Market Insights, COVID-19 Impact, Competition and Forecast (2020-2025)

Publisher Name :
Date: 30-Jun-2020
No. of pages: 200

Executive Summary

The Global Elevator Service Market, valued at USD 34.9 billion in the year 2019, with service business (including maintenance & repair and modernisation) accounting for more than half of the annual revenues of the top four OEMs - Otis, Schindler, Kone and Thyssenkrupp Elevators. Also, owing to mature installed base of elevator in the regions like Europe and North America, the elevator service business market is witnessing steady growth. The initiatives by leading OEMs to provide Internet of Things (IOTs) and Artificial Intelligence solutions in their services contracts will also result in growth of elevator services business in the near future.

Among the Service Type segment in the Elevator Service market (Maintenance & Repair, Modernization), Elevator maintenance plans help avoid costly, large repairs and replacements of elevator parts, which ultimately saves customers money and avoids problematic breakdowns, which cause elevator downtime. The elevator maintenance plans are specifically designed to keep systems running consistently by finding, diagnosing and fixing problems before they cause a shutdown.

Based on End-User segment, Residential segment holds the largest market share in year 2019. Growing ageing population as well as rapid urbanization in the economies resulted in the growth of elevator industry globally which will further boost the demand for maintenance & repair as well as modernization services in the market.

The Europe region has the largest market share in year 2019 while it is estimated that Europe will remain dominant during the forecast period. Also, North America accounts for 8% of the global E&E installed base and around 25,000 units in new installations in a 900k global elevator market. The region is characterized by a higher commercial segment share which bodes well for stable and profitable aftermarket growth. Most of the installed base is hydraulic in nature but the share of machine-room-less (MRL) elevators has been increasing, and currently constitutes about two-thirds of the new installations.

Scope of the Report

- The report analyses the Elevator Service market by Value.

- The report analyses the Elevator Service Market by Service Type (Maintenance & Repair, Modernization).

- The report assesses the Elevator Service market by End-User (Residential, Commercial).

- The Global Elevator Service Market has been analysed by Region (North America, Europe, Asia Pacific) and by Country (United States, Canada, Germany, France, Spain, United Kingdom, China, Japan, India, South Korea)

- Also, the attractiveness of the market has been presented by region, Service Type, End-User. Also, the major opportunities, trends, drivers and challenges of the industry has been analysed in the report.

- The report tracks competitive developments, strategies, key developments in the market and new product development. The companies analysed in the report include Kone, Otis, Schindler Group, Thyssenkrupp AG, Orona Group, Hitachi Group, EMR Elevator, Hisa Elevator, Fujitec, Mitsubishi Electric.

- The report presents the analysis of Elevator Service market for the historical period of 2015-2019 and the forecast period of 2020-2025.

Key Target Audience

- Elevator OEMs

- Elevator Service Firms

- Consulting and Advisory Firms

- Government and Policy Makers

- Investment Banks and Equity Firms

- Regulatory Authorities

Global Elevator Service Market - Analysis By Service Type, End-User, By Region, By Country (2020 Edition) : Market Insights, COVID-19 Impact, Competition and Forecast (2020-2025)

Table of Contents

1. Report Scope and Methodology
1.1 Scope of the Report
1.2 Research Methodology
1.3 Executive Summary

2. Strategic Recommendations

3. Global Elevator Service Market: Sizing and Forecast
3.1 Market Size, By Value, Year 2015-2025
3.2 Market Size, By Growth Rate, Year 2015-2025
3.3 Impact of COVID-19 on Global Elevator Service Market

4. Global Elevator Service Market Segmentation By Service Type
4.1 Competitive Scenario of Global Elevator Service: By Service Type
4.2 Maintenance & Repair - Market Size and Forecast (2020-2025)
4.3 Modernization - Market Size and Forecast (2020-2025)

5. Global Elevator Service Market Segmentation By End-User
5.1 Competitive Scenario of Global Elevator Service: By End-User
5.2 Residential - Market Size and Forecast (2020-2025)
5.3 Commercial - Market Size and Forecast (2020-2025)

6. Global Elevator Service Market: Regional Analysis
6.1 Competitive Scenario of Global Elevator Service: By Region, By Value

7. North America Elevator Service Market: Segmentation By Service Type, End-User (2020-2025)
7.1 North America Elevator Service Market: Size and Forecast (2020-2025), By Value
7.2 North America Elevator Service Market - Prominent Companies
7.3 Market Segmentation By Service Type (Maintenance & Repair, Modernization)
7.4 Market Segmentation By End-User (Residential, Commercial)

7.5 North America Elevator Service Market: Country Analysis7.6 Competitive Scenario of North America Elevator Service: By Country, By Value
7.7 Market Opportunity Chart of North America Elevator Service Market - By Country, By Value (Year-2025)
7.8 United States Elevator Service Market: Size and Forecast (2020-2025), By Value
7.9 United States Elevator Service Market: Prominent Players
7.10 United States Elevator Service Market Segmentation By Service Type, End-User
7.11 Canada Elevator Service Market: Size and Forecast (2020-2025), By Value
7.12 Canada Elevator Service Market: Prominent Players
7.13 Canada Elevator Service Market Segmentation By Service Type, End-User

8. Europe Elevator Service Market: Segmentation By Service Type, End-User (2020-2025)
8.1 Europe Elevator Service Market: Size and Forecast (2020-2025), By Value
8.2 Europe Elevator Service Market - Prominent Companies
8.3 Market Segmentation By Service Type (Maintenance & Repair, Modernization)
8.4 Market Segmentation By End-User (Residential, Commercial)

8.5 Europe Elevator Service Market: Country Analysis8.6 Competitive Scenario of Europe Elevator Service: By Country, By Value
8.7 Market Opportunity Chart of Europe Elevator Service Market - By Country, By Value (Year-2025)
8.8 Germany Elevator Service Market: Size and Forecast (2020-2025), By Value
8.9 Germany Elevator Service Market: Prominent Players
8.10 Germany Elevator Service Market Segmentation By Service Type, End-User
8.11 France Elevator Service Market: Size and Forecast (2020-2025), By Value
8.12 France Elevator Service Market Segmentation By Service Type, End-User
8.13 United Kingdom Elevator Service Market: Size and Forecast (2020-2025), By Value
8.14 United Kingdom Elevator Service Market Segmentation By Service Type, End-User
8.15 Spain Elevator Service Market: Size and Forecast (2020-2025), By Value
8.16 Spain Elevator Service Market Segmentation By Service Type, End-User

9. Asia Pacific Elevator Service Market: Segmentation By Service Type, End-User (2020-2025)
9.1 Asia Pacific Elevator Service Market: Size and Forecast (2020-2025), By Value
9.2 Asia Pacific Elevator Service Market - Prominent Companies
9.3 Market Segmentation By Service Type (Maintenance & Repair, Modernization)
9.4 Market Segmentation By End-User (Residential, Commercial)

9.5 Asia Pacific Elevator Service Market: Country Analysis9.6 Competitive Scenario of Asia Pacific Elevator Service: By Country, By Value
9.7 Market Opportunity Chart of Asia Pacific Elevator Service Market - By Country, By Value (Year-2025)
9.8 China Elevator Service Market: Size and Forecast (2020-2025), By Value
9.9 China Elevator Service Market Segmentation By Service Type, End-User
9.10 Japan Elevator Service Market: Size and Forecast (2020-2025), By Value
9.11 Japan Elevator Service Market Segmentation By Service Type, End-User
9.12 India Elevator Service Market: Size and Forecast (2020-2025), By Value
9.13 India Elevator Service Market Segmentation By Service Type, End-User
9.14 South Korea Elevator Service Market: Size and Forecast (2020-2025), By Value
9.15 South Korea Elevator Service Market Segmentation By Service Type, End-User

10. Global Elevator Service Market Dynamics
10.1 Global Elevator Service Market Drivers
10.2 Global Elevator Service Market Restraints
10.3 Global Elevator Service Market Trends

11. Market Attractiveness and Strategic Analysis

11.1 Market Attractiveness
11.1.1 Market Attractiveness Chart of Global Elevator Service Market - By Service Type, By Value
11.1.2 Market Attractiveness Chart of Global Elevator Service Market - By End-User, By Value
11.1.3 Market Attractiveness Chart of Global Elevator Service Market - By Region, By Value

11.2 Strategic Analysis
11.2.1 New Product Development
11.2.2 Joint Ventures and Non-Wholly Owned Subsidiaries
11.2.3 Key Developments in Elevator Service Market

12. Competitive Landscape

13. Company Analysis (Business Description, Financial Analysis, Business Strategy)
13.1 Kone
13.2 Otis
13.3 Schindler Group
13.4 Thyssenkrupp AG
13.5 Hitachi Group
13.6 Fujitec
13.7 Mitsubishi Electric
13.8 Orona Group
13.9 Hisa Elevator
13.10 EMR Elevator

List of Figures

Figure 1: Global Elevator Service Market Size, By Value, 2015-2025 (USD Million)
Figure 2: Global Elevator Service Market, Growth Rate (%), 2016-2025
Figure 3: Average age of global installed base
Figure 4: Installed base by region more than 20 years old
Figure 5: Geographical split of New Equipment and Services Business for an elevator OEM
Figure 6: Percentage of elevators over 20 years old by geography
Figure 7: Service business cost breakdown
Figure 8: Field cost breakdown
Figure 9: Global Residential Construction Value, 2014-2018 (USD Trillion)
Figure 10: Global GDP per Capita , 2014-2018 (USD Million)
Figure 11: Global distribution of population aged 65 years or over by region, 2019 and 2050 (%)
Figure 12: Ten countries or areas with the highest old-age dependency ratios, 2019 and 2050
Figure 13: Global Elevator Service Market Share- By Service Type, Year 2019 & 2025
Figure 14: Global Elevator Service Market- By Maintenance & Repair, By Value (USD Million), 2015-2025
Figure 15: Global Elevator Service Market- By Modernization, By Value (USD Million), 2015-2025
Figure 16: Global Elevator Service Market Share- By End-User, Year 2019 & 2025
Figure 17: Global Elevator Service Market- By Residential, By Value (USD Million), 2015-2025
Figure 18: Global Elevator Service Market- By Commercial, By Value (USD Million), 2015-2025
Figure 19: Global Elevator Service Market Share- By Region, By Value, Year 2019 & 2025
Figure 20: North America Elevator Service Market Size, By Value, 2015-2025 (USD Million)
Figure 21: Service revenue per unit under maintenance: North America versus EMEA (in euros)
Figure 22: North America Industry (Including Construction), Value Added (USD Trillion), 2013-17
Figure 23: Americas Average Manufacturing Growth Rate, 2013-2017, (In %)
Figure 24: North America GDP Annual Growth (%), 2014-2018
Figure 25: North America Urban Population(% of total population), 2014-2018
Figure 26: North America Elevator Service Market (By Service Type), By Value (USD Million), 2015-2025
Figure 27: North America Elevator Service Market (By End-User), By Value (USD Million), 2015-2025
Figure 28: North America Elevator Service Market Share- By Country, By Value, Year 2019 & 2025
Figure 29: Market Opportunity Chart of North America Elevator Service Market - By Country, By Value (Year-2025)
Figure 30: United States Elevator Service Market Size, By Value, 2015-2025 (USD Million)
Figure 31: U.S. Total Construction Spending(Million USD), 2014-2019
Figure 32: U.S. Residential & Non-Residential construction spending (Million USD)
Figure 33: United States Elevator Service Market (By Service Type), By Value (USD Million), 2015-2025
Figure 34: United States Elevator Service Market (By End-User), By Value (USD Million), 2015-2025
Figure 35: U.S Industry (Including Construction), Value added (annual growth %), 2013-17
Figure 36: United States Annual GDP Growth (%), 2014-2018
Figure 37: U.S Manufacturing Value added, annual growth(%), 2013-17
Figure 38: United States Urban Population(% of Total Population), 2014-2018
Figure 39: Canada Elevator Service Market Size, By Value, 2015-2025 (USD Million)
Figure 40: Canada - Total Value of Building Permits, (In USD Billion), 2014 - 2018
Figure 41: Canada Elevator Service Market (By Service Type), By Value (USD Million), 2015-2025
Figure 42: Canada Elevator Service Market (By End-User), By Value (USD Million), 2015-2025
Figure 43: Canada Urban Population Growth (annual %), 2013-18
Figure 44: Canada Annual GDP Growth (%), 2014-18
Figure 45: Canada Industry (Including Construction), Value added (annual growth %), 2013-18
Figure 46: Canada Manufacturing Value added, annual growth(%), 2013-18
Figure 47: Europe Elevator Service Market Size, By Value, 2015-2025 (USD Million)
Figure 48: Europe New Housing Units Construction, 2013-2017 (Million units)
Figure 49: Europe GDP growth rate(%), (2014-2018)
Figure 50: European Commission's construction output growth rate(%)-(2013-2017)
Figure 51: Europe Elevator Service Market (By Service Type), By Value (USD Million), 2015-2025
Figure 52: Europe Elevator Service Market (By End-User), By Value (USD Million), 2015-2025
Figure 53: European Union Manufacturing Value added, annual growth(%), 2014-18
Figure 54: European Union Industry (Including Construction), Value added (annual growth %), 2014-18
Figure 55: European Union Urban Population growth (annual %), 2013-18
Figure 56: Europe total number of completed houses, 2018 (In Thousands)
Figure 57: Europe Elevator Service Market Share- By Country, By Value, Year 2019 & 2025
Figure 58: Market Opportunity Chart of Europe Elevator Service Market - By Country, By Value (Year-2025)
Figure 59: Germany Elevator Service Market Size, By Value, 2015-2025 (USD Million)
Figure 60: Germany Elevator Service Market (By Service Type), By Value (USD Million), 2015-2025
Figure 61: Germany Elevator Service Market (By End-User), By Value (USD Million), 2015-2025
Figure 62: Germany residential construction in billion Euro, 2014-2021
Figure 63: Germany non-residential construction in billion Euro, 2014-2021
Figure 64: Change in Percentage of Construction sector output (2015-2018)
Figure 65: Germany manufacturing, value added(annual % growth), 2014-2018
Figure 66: Germany Urban Population (% of total population), 2014-2018
Figure 67: Germany Total residential & non-residential buildings completed (In Thousands), 2014-2019
Figure 68: Germany industry(including construction), value added (%), 2014-2018
Figure 69: France Elevator Service Market Size, By Value, 2015-2025 (USD Million)
Figure 70: France Residential construction projects (in Units), 2014-2018
Figure 71: France Elevator Service Market (By Service Type), By Value (USD Million), 2015-2025
Figure 72: France Elevator Service Market (By End-User), By Value (USD Million), 2015-2025
Figure 73: France manufacturing, value added(annual % growth), 2014-2018
Figure 74: France Urban Population (% of total population), 2014-2018
Figure 75: France GDP growth (annual %), 2014-2018
Figure 76: France industry(including construction), value added (%), 2014-2018
Figure 77: United Kingdom Elevator Service Market Size, By Value, 2015-2025 (USD Million)
Figure 78: U.K All Dwellings construction data (2013-14 To 2017-18)
Figure 79: United Kingdom Elevator Service Market (By Service Type), By Value (USD Million), 2015-2025
Figure 80: United Kingdom Elevator Service Market (By End-User), By Value (USD Million), 2015-2025
Figure 81: United Kingdom manufacturing, value added(annual % growth), 2014-2018
Figure 82: United Kingdom Urban Population (% of total population), 2014-2018
Figure 83: United Kingdom GDP growth (annual %), 2014-2018
Figure 84: United Kingdom industry(including construction), value added (%), 2014-2018
Figure 85: Spain Elevator Service Market Size, By Value, 2015-2025 (USD Million)
Figure 86: Spain Elevator Service Market (By Service Type), By Value (USD Million), 2015-2025
Figure 87: Spain Elevator Service Market (By End-User), By Value (USD Million), 2015-2025
Figure 88: Spain manufacturing, value added(annual % growth), 2014-2018
Figure 89: Spain Urban Population (% of total population), 2014-2018
Figure 90: Spain GDP growth (annual %), 2014-2018
Figure 91: Spain industry(including construction), value added (%), 2014-2018
Figure 92: Asia Pacific Elevator Service Market Size, By Value, 2015-2025 (USD Million)
Figure 93: APAC New Housing Units Construction, 2013-2017 (Million units)
Figure 94: Asia Pacific Elevator Service Market (By Service Type), By Value (USD Million), 2015-2025
Figure 95: Asia Pacific Elevator Service Market (By End-User), By Value (USD Million), 2015-2025
Figure 96: South Asia Manufacturing Value added, annual growth(%), 2014-18
Figure 97: East Asia & Pacific Industry (Including Construction), Value added (annual growth %), 2014-18
Figure 98: Asia Pacific Urban Population growth (annual %), 2013-18
Figure 99: Asia Pacific GDP Growth rate (%), 2013-2018
Figure 100: Asia Pacific Elevator Service Market Share- By Country, By Value, Year 2019 & 2025
Figure 101: Market Opportunity Chart of Asia Pacific Elevator Service Market - By Country, By Value (Year-2025)
Figure 102: China Elevator Service Market Size, By Value, 2015-2025 (USD Million)
Figure 103: China elevator installed base, (In ‘000s)
Figure 104: China Elevator Service Market (By Service Type), By Value (USD Million), 2015-2025
Figure 105: China Elevator Service Market (By End-User), By Value (USD Million), 2015-2025
Figure 106: China GDP growth (annual %), 2014-2018
Figure 107: China Urban Population (% of total population), 2014-2018
Figure 108: China industry(including construction), value added (%), 2014-2018
Figure 109: Japan Elevator Service Market Size, By Value, 2015-2025 (USD Million)
Figure 110: Japan Elevator Service Market (By Service Type), By Value (USD Million), 2015-2025
Figure 111: Japan Elevator Service Market (By End-User), By Value (USD Million), 2015-2025
Figure 112: Japan's Manufacturing Value added (USD T), 2013-17
Figure 113: Japan Urban Population (% of Total Population), 2014-18
Figure 114: Japan GDP growth (annual %), 2014-2018
Figure 115: Japan Industry (including construction), value added (% of GDP), 2014-2017
Figure 116: India Elevator Service Market Size, By Value, 2015-2025 (USD Million)
Figure 117: India's Industry including Construction growth rate (%), 2013-2017
Figure 118: India's Urban Population (%), 2013-2017
Figure 119: India Elevator Service Market (By Service Type), By Value (USD Million), 2015-2025
Figure 120: India Elevator Service Market (By End-User), By Value (USD Million), 2015-2025
Figure 121: India Manufacturing Value added (%), 2014-18
Figure 122: India Urban Population (% of Total Population), 2014-18
Figure 123: India GDP growth (annual %), 2014-2018
Figure 124: India Industry (including construction), value added (% of GDP), 2014-2018
Figure 125: South Korea Elevator Service Market Size, By Value, 2015-2025 (USD Million)
Figure 126: South Korea Elevator Service Market (By Service Type), By Value (USD Million), 2015-2025
Figure 127: South Korea Elevator Service Market (By End-User), By Value (USD Million), 2015-2025
Figure 128: Korea Rep Manufacturing Value added (USD Billion), 2013-18
Figure 129: Korea Rep Urban Population (% of Total Population), 2014-18
Figure 130: Korea Rep GDP growth (annual %), 2014-2018
Figure 131: Korea Rep Industry (including construction), value added (% of GDP), 2014-2018
Figure 132: Market Attractiveness Chart of Global Elevator Service Market - By Service Type (Year-2025)
Figure 133: Market Attractiveness Chart of Global Elevator Service Market - By End-User (Year-2025)
Figure 134: Market Attractiveness Chart of Global Elevator Service Market - By Region, By Value, (Year-2025)
Figure 135: Relative positioning of elevator companies based on digital innovation and preparedness
Figure 136: Company wise share in new equipment and service business
Figure 137: KONE Annual Revenue (USD Million), Year 2015-2019
Figure 138: KONE Net Income/Loss (USD Million), Year 2015-2019
Figure 139: KONE Sales Revenue Split, By Business Segment (%), FY2019
Figure 140: KONE Sales Revenue Split, By Geography (%), FY2019
Figure 141: Otis Annual Revenue (USD Million), Year 2015-2019
Figure 142: Otis Net Income/Loss (USD Million), Year 2015-2019
Figure 143: Otis Sales Revenue Split, By Business Segment (%), FY2019
Figure 144: Otis Sales Revenue Split, By Service Sub-segment (%), FY2019
Figure 145: Otis Sales Revenue Split, By New Equipment Orders (USD Million), FY2019
Figure 146: Otis Sales Revenue Split, By Geography (%), FY2019
Figure 147: Schindler Group Annual Revenue (USD Million), Year 2015-2019
Figure 148: Schindler Group Net Income/Loss (USD Million), Year 2015-2019
Figure 149: Schindler Group Sales Revenue Split, By Geography (%), FY2019
Figure 150: Thyssenkrupp AG Annual Revenue (USD Million), Year 2015-2019
Figure 151: Thyssenkrupp AG Net Income/Loss (USD Million), Year 2015-2019
Figure 152: Thyssenkrupp AG Sales Revenue Split, By Business Segment (%), FY2019
Figure 153: Thyssenkrupp AG Sales Revenue Split, By Customer Group (%), FY2019
Figure 154: Thyssenkrupp AG Sales Revenue Split, By Region (%), FY2019
Figure 155: Hitachi Group Annual Revenue (USD Million), Year 2015-2019
Figure 156: Hitachi Group Net Income/Loss (USD Million), Year 2015-2019
Figure 157: Hitachi Group Sales Revenue Split, By Business Segment (%), FY2019
Figure 158: Hitachi Group Sales Revenue Split, By Region (%), FY2019
Figure 159: Fujitec Annual Revenue (USD Million), Year 2015-2019
Figure 160: Fujitec Net Income/Loss (USD Million), Year 2015-2019
Figure 161: Fujitec Sales Revenue Split, By Region (%), FY2019
Figure 162: Mitsubishi Electric Annual Revenue (USD Million), Year 2015-2019
Figure 163: Mitsubishi Electric Net Income/Loss (USD Million), Year 2015-2019
Figure 164: Mitsubishi Electric Sales Revenue Split, By Business Segment (%), FY2019
Figure 165: Mitsubishi Electric Sales Revenue Split, By Service Sub-segment (%), FY2019
Figure 166: Orona Group Annual Revenue (USD Million), Year 2014-2018
Figure 167: Orona Group Net Income/Loss (USD Million), Year 2014-2018

List of Tables

Table A: Few Major Players in North America Elevator Service Market
Table B: Canada - Investment in Building Construction (USD Billion)
Table C: Few Major Players in Europe Elevator Service Market
Table D: Few Major Players in Asia Pacific Elevator Service Market
Table E: Conversion rates: China vs developed markets
Table F: Elevators digital platform
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