Asia Pacific elevator modernization market will grow by 6.9% annually with a total addressable market cap of $57.59 billion over 2023-2032, driven by the growing number of aged buildings, the rising demand for elevator renovation, and continued expansion of construction industry.
Highlighted with 34 tables and 48 figures, this 117-page report "Asia Pacific Elevator Modernization Market 2022-2032 by Modernization Type (Partial, Full), Elevator Type (Hydraulic, Traction), Component, Application (Industrial, Residential, Commercial), and Country: Trend Forecast and Growth Opportunity" is based on a comprehensive research of the entire Asia Pacific elevator modernization market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. The report is based on studies on 2020-2022 and provides forecast from 2023 till 2032 with 2022 as the base year. (Please note: The report will be updated before delivery so that the latest historical year is the base year, and the forecast covers at least 5 years over the base year.)
In-depth qualitative analyses include identification and investigation of the following aspects:
• Market Structure
• Growth Drivers
• Restraints and Challenges
• Emerging Product Trends & Market Opportunities
• Porter's Fiver Forces
The trend and outlook of Asia Pacific market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19 and Russia-Ukraine conflict. The balanced (most likely) projection is used to quantify Asia Pacific elevator modernization market in every aspect of the classification from perspectives of Modernization Type, Elevator Type, Component, Application, and Country.
Based on Modernization Type, the Asia Pacific market is segmented into the following sub-markets with annual revenue ($ mn) for 2022-2032 included in each section.
• Full Modernization
• Partial Modernization
Based on Elevator Type, the Asia Pacific 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 Asia Pacific 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 Asia Pacific 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:
• Japan
• China
• South Korea
• Australia
• India
• Rest of APAC (further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, Taiwan, and Philippines)
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 Asia Pacific 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 Asia Pacific 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 Asia Pacific 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 Asia Pacific 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 Asia-Pacific Market 2022-2032 by Country 73
7.1 Overview of Asia-Pacific Market 73
7.2 Japan 76
7.3 China 79
7.4 Australia 81
7.5 India 83
7.6 South Korea 85
7.7 Rest of APAC Region 87
8 Competitive Landscape 89
8.1 Overview of Key Vendors 89
8.2 New Product Launch, Partnership, Investment, and M&A 92
8.3 Company Profiles 93
Doppler S.A. 93
Fujitec Co., Ltd. 95
Hitachi, Ltd. 96
Hyundai Elevator Co., Ltd. 97
Johnson Lifts Private Ltd. 98
KONE Corporation 99
Magnetek, Inc. 100
Mitsubishi Electric Corporation 101
Otis Elevator Company 102
Richmond Elevator (REM) 103
Schindler Holding Ltd. 104
Sematic S.p.A 105
Siemens AG 106
ThyssenKrupp Elevator AG 107
Toshiba Elevator and Building Systems Corporation (TOSHIBA) 108
United Technologies Corporation 109
Wittur Group 110
9 Investing in Asia Pacific Market: Risk Assessment and Management 111
9.1 Risk Evaluation of Asia Pacific Market 111
9.2 Critical Success Factors (CSFs) 114
Related Reports and Products 117
The Application Modernization Services Market is set to witness immense growth during the forecast period 2024-2031. This intelligence report offers an in-depth analysis of the market size, share, growth, opportunity, competitive landscape, ...
The Transformer Modernization Service Market is set to witness immense growth during the forecast period 2024-2031. This intelligence report offers an in-depth analysis of the market size, share, growth, opportunity, competitive landscape, m...
Market Overview
The Asia Pacific Banking as a Service (BaaS) Market is set to experience substantial growth from 2024 to 2034, driven by the region's rapid digitalization, the increasing adoption of cloud-based technologies, and the growing demand for seamless financial services. As fin...
Market Overview
The Asia Pacific Perfume Packaging Market is anticipated to witness robust growth from 2024 to 2034, driven by evolving consumer preferences, rising disposable incomes, and the increasing demand for premium and personalized fragrances. With the region emerging as a globa...
Market Overview
The Asia Pacific Alternate Marine Power Market is set to experience substantial growth from 2024 to 2034, driven by the increasing demand for sustainable and eco-friendly power solutions within the maritime industry. With rising regulations on emissions, the market for a...
Market Overview
The Asia Pacific Bio Vanillin Market is expected to witness robust growth from 2024 to 2034, driven by increasing demand for natural flavoring agents and the rising popularity of bio-based products. The market is projected to reach USD XX.XX billion by 2034, growing at a...
Market Overview
The Asia Pacific AI-Enabled Biometric Market is set to experience robust growth from 2024 to 2034, driven by the increasing adoption of artificial intelligence (AI) technologies in biometric systems to enhance security, identity verification, and surveillance. The market...
Market Overview
The Asia Pacific Commercial Vehicle Telematics Market is poised for significant growth from 2024 to 2034, driven by the increasing demand for real-time vehicle tracking, fleet management, and enhanced operational efficiency across various industries. The market is expect...
Market Overview
The Asia Pacific Passive Optical Network (PON) Market is poised for robust growth between 2024 and 2034, driven by the increasing demand for high-speed broadband connectivity, especially in emerging economies. The market is expected to reach USD XX.XX billion by 2034, gr...
Market Overview
The Asia Pacific Safety Valves Market is expected to witness substantial growth from 2024 to 2034, driven by increasing industrial activities and the rising demand for enhanced safety standards across key sectors. The market is projected to reach USD XX.XX billion by 203...