Europe elevator modernization market was valued at $2.65 billion in 2022 and will grow by 5.0% annually over 2022-2032, driven by the growing number of aged buildings, the rising demand for elevator renovation, and continued expansion of construction industry.
Highlighted with 37 tables and 49 figures, this 118-page report “Europe Elevator Modernization Market 2022-2032 by Modernization Type (Partial, Full), Elevator Type (Hydraulic, Traction), Component, Application (Industrial, Residential, Commercial), and Country: Trend Forecast and Growth Opportunity” is based on a comprehensive research of the entire Europe elevator modernization market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. The report is based on studies on 2020-2022 and provides forecast from 2023 till 2032 with 2022 as the base year. (Please note: The report will be updated before delivery so that the latest historical year is the base year, and the forecast covers at least 5 years over the base year.)
In-depth qualitative analyses include identification and investigation of the following aspects:
• Market Structure
• Growth Drivers
• Restraints and Challenges
• Emerging Product Trends & Market Opportunities
• Porter’s Fiver Forces
The trend and outlook of Europe market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19 and Russia-Ukraine conflict. The balanced (most likely) projection is used to quantify Europe elevator modernization market in every aspect of the classification from perspectives of Modernization Type, Elevator Type, Component, Application, and Country.
Based on Modernization Type, the Europe market is segmented into the following sub-markets with annual revenue ($ mn) for 2022-2032 included in each section.
• Full Modernization
• Partial Modernization
Based on Elevator Type, the Europe market is segmented into the following sub-markets with annual revenue ($ mn) for 2022-2032 included in each section.
• Hydraulic Elevators
o Conventional Hydraulic Elevators
o Hole-less Hydraulic Elevators
o Roped Hydraulic Elevators
• Traction Elevators
o Geared Traction Elevators
o Gear-less Traction Elevators
o Machine Room-Less Elevators
• Climbing Elevators
• Pneumatic/Vacuum Elevators
By Component, the Europe market is segmented into the following sub-markets with annual revenue ($ mn) for 2022-2032 included in each section.
• Power Units
• Cabin Enclosures
• Controllers
o Relay-based
o Solid-state
o PLC
• Signaling Fixtures
• Door Equipment
• Other Components
By Application, the Europe market is segmented into the following sub-markets with annual revenue ($ mn) for 2022-2032 included in each section.
• Industrial Application
• Residential Application
• Commercial Application
Geographically, the following national/local markets are fully investigated:
• Germany
• UK
• France
• Spain
• Italy
• Russia
• Rest of Europe (further segmented into Netherlands, Switzerland, Poland, Sweden, Belgium, Austria, Ireland, Norway, Denmark, and Finland)
For each key country, detailed analysis and data for annual revenue ($ mn) are available for 2022-2032. The breakdown of national markets by Elevator Type, Component, and Application over the forecast years are also included.
The report also covers the current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players.
Selected Key Players:
Doppler S.A.
Fujitec Co., Ltd.
Hitachi, Ltd.
Hyundai Elevator Co., Ltd.
Johnson Lifts Private Ltd.
KONE Corporation
Magnetek, Inc.
Mitsubishi Electric Corporation
Otis Elevator Company
Richmond Elevator (REM)
Schindler Holding Ltd.
Sematic S.p.A
Siemens AG
ThyssenKrupp Elevator AG
Toshiba Elevator and Building Systems Corporation (TOSHIBA)
United Technologies Corporation
Wittur Group
(Please note: The report will be updated before delivery so that the latest historical year is the base year, and the forecast covers at least 5 years over the base year.)
1 Introduction 7
1.1 Industry Definition and Research Scope 7
1.1.1 Industry Definition 7
1.1.2 Research Scope 8
1.2 Research Methodology 11
1.2.1 Overview of Market Research Methodology 11
1.2.2 Market Assumption 12
1.2.3 Secondary Data 12
1.2.4 Primary Data 12
1.2.5 Data Filtration and Model Design 13
1.2.6 Market Size/Share Estimation 14
1.2.7 Research Limitations 15
1.3 Executive Summary 16
2 Market Overview and Dynamics 19
2.1 Market Size and Forecast 19
2.1.1 Impact of COVID-19 on World Economy 20
2.1.2 Impact of COVID-19 on the Market 23
2.1.3 Impact of Russia-Ukraine Conflict: War Slows Economic Recovery 25
2.2 Major Growth Drivers 29
2.3 Market Restraints and Challenges 33
2.4 Emerging Opportunities and Market Trends 36
2.5 Porter’s Fiver Forces Analysis 40
3 Segmentation of Europe Market by Modernization Type 44
3.1 Market Overview by Modernization Type 44
3.2 Full Modernization 46
3.3 Partial Modernization 47
4 Segmentation of Europe Market by Elevator Type 48
4.1 Market Overview by Elevator Type 48
4.2 Hydraulic Elevators 50
4.2.1 Conventional Hydraulic Elevators 51
4.2.2 Hole-less Hydraulic Elevators 52
4.2.3 Roped Hydraulic Elevators 53
4.3 Traction Elevators 54
4.3.1 Geared Traction Elevators 55
4.3.2 Gear-less Traction Elevators 56
4.3.3 Machine Room-Less Elevators 57
4.4 Climbing Elevators 58
4.5 Pneumatic/Vacuum Elevators 59
5 Segmentation of Europe Market by Component 60
5.1 Market Overview by Component 60
5.2 Power Units 62
5.3 Cabin Enclosures 63
5.4 Controllers 64
5.5 Signaling Fixtures 65
5.6 Door Equipment 66
5.7 Other Components 67
6 Segmentation of Europe Market by Application 68
6.1 Market Overview by Application 68
6.2 Industrial Application 70
6.3 Residential Application 71
6.4 Commercial Application 72
7 European Market 2022-2032 by Country 73
7.1 Overview of European Market 73
7.2 Germany 76
7.3 UK 78
7.4 France 80
7.5 Spain 82
7.6 Italy 84
7.7 Russia 86
7.8 Rest of European Market 88
8 Competitive Landscape 90
8.1 Overview of Key Vendors 90
8.2 New Product Launch, Partnership, Investment, and M&A 93
8.3 Company Profiles 94
Doppler S.A. 94
Fujitec Co., Ltd. 96
Hitachi, Ltd. 97
Hyundai Elevator Co., Ltd. 98
Johnson Lifts Private Ltd. 99
KONE Corporation 100
Magnetek, Inc. 101
Mitsubishi Electric Corporation 102
Otis Elevator Company 103
Richmond Elevator (REM) 104
Schindler Holding Ltd. 105
Sematic S.p.A 106
Siemens AG 107
ThyssenKrupp Elevator AG 108
Toshiba Elevator and Building Systems Corporation (TOSHIBA) 109
United Technologies Corporation 110
Wittur Group 111
9 Investing in Europe Market: Risk Assessment and Management 112
9.1 Risk Evaluation of Europe Market 112
9.2 Critical Success Factors (CSFs) 115
Related Reports and Products 118
List of Tables:
Table 1. Snapshot of Europe Elevator Modernization Market in Balanced Perspective, 2022-2032 17
Table 2. World Economic Outlook, 2021-2031 21
Table 3. World Economic Outlook, 2021-2023 22
Table 4. Scenarios for Economic Impact of Ukraine Crisis 26
Table 5. Main Product Trends and Market Opportunities in Europe Elevator Modernization Market 36
Table 6. Europe Elevator Modernization Market by Modernization Type, 2022-2032, $ mn 44
Table 7. Europe Elevator Modernization Market by Elevator Type, 2022-2032, $ mn 48
Table 8. Europe Elevator Modernization Market: Hydraulic Elevators by Elevator Type, 2022-2032, $ mn 50
Table 9. Europe Elevator Modernization Market: Traction Elevators by Elevator Type, 2022-2032, $ mn 54
Table 10. Europe Elevator Modernization Market by Component, 2022-2032, $ mn 60
Table 11. Europe Elevator Modernization Market: Controllers by Type, 2022-2032, $ mn 64
Table 12. Europe Elevator Modernization Market by Application, 2022-2032, $ mn 68
Table 13. Europe Elevator Modernization Market by Country, 2022-2032, $ mn 75
Table 14. Germany Elevator Modernization Market by Elevator Type, 2022-2032, $ mn 77
Table 15. Germany Elevator Modernization Market by Component, 2022-2032, $ mn 77
Table 16. Germany Elevator Modernization Market by Application, 2022-2032, $ mn 77
Table 17. UK Elevator Modernization Market by Elevator Type, 2022-2032, $ mn 79
Table 18. UK Elevator Modernization Market by Component, 2022-2032, $ mn 79
Table 19. UK Elevator Modernization Market by Application, 2022-2032, $ mn 79
Table 20. France Elevator Modernization Market by Elevator Type, 2022-2032, $ mn 81
Table 21. France Elevator Modernization Market by Component, 2022-2032, $ mn 81
Table 22. France Elevator Modernization Market by Application, 2022-2032, $ mn 81
Table 23. Spain Elevator Modernization Market by Elevator Type, 2022-2032, $ mn 83
Table 24. Spain Elevator Modernization Market by Component, 2022-2032, $ mn 83
Table 25. Spain Elevator Modernization Market by Application, 2022-2032, $ mn 83
Table 26. Italy Elevator Modernization Market by Elevator Type, 2022-2032, $ mn 85
Table 27. Italy Elevator Modernization Market by Component, 2022-2032, $ mn 85
Table 28. Italy Elevator Modernization Market by Application, 2022-2032, $ mn 85
Table 29. Russia Elevator Modernization Market by Elevator Type, 2022-2032, $ mn 87
Table 30. Russia Elevator Modernization Market by Component, 2022-2032, $ mn 87
Table 31. Russia Elevator Modernization Market by Application, 2022-2032, $ mn 87
Table 32. Elevator Modernization Market in Rest of Europe by Country, 2022-2032, $ mn 89
Table 33. Doppler S.A.: Company Snapshot 94
Table 34. Doppler S.A.: Business Segmentation 94
Table 35. Doppler S.A.: Product Portfolio 95
Table 36. Risk Evaluation for Investing in Europe Market, 2022-2032 113
Table 37. Critical Success Factors and Key Takeaways 116
