Executive Summary
Azoth Analytics has released research named "Global Industrial Elevator Market (2023 Edition)" which provides a complete analysis of the Global Industrial Elevator Market industry in terms of market segmentation by Component (New Installations, Maintenance, Modernization), Type (Hoist Elevators, Inclined Elevators), Capacity (<2 ton, 2-3 ton, >3 ton) and End-Use (Construction Sites, Power Plants, Manufacturing Plants - Oil & gas, Petrochemical & refining, Pulp & Paper, Other End-uses - Mining & tunnels, Shipyards & ports, Warehouses). The research study also looks at the market's growth indicators, restraints, sales growth and demand risk, and other important statistics, as well as a full assessment of current and future market trends that are relevant to the market's evolution.
During the forecast period, 2024-2029, the Global Industrial Elevator Market is expected to expand at a CAGR of 4.8%. Growing urbanisation, infrastructure development, and industrialisation are driving forces leading the industrial elevator market. This is creating a greater need for effective vertical transportation solutions in the manufacturing and logistics sectors. The industrial elevator market is expanding significantly because of the fast industrialisation of emerging nations, especially in Asia Pacific.
The Global Industrial Elevator Market is expected to generate USD 25.06 Billion by the end of 2029, up from USD 18.87 Billion in 2022. The demand for effective vertical transportation solutions in manufacturing plants, warehouses, and other workplaces is rising as global industrialisation proceeds. This demand drives the installation of industrial elevators. The essential significance is seen in the growing number of industrial elevator installations across the globe. Adoption of these technologies not only increases productivity but also improves the safety, sustainability, and overall productivity of many industries worldwide. Undoubtedly, the industrial elevator market globally can be greatly impacted by the expansion of the manufacturing and logistics sectors. In many manufacturing and logistics processes, industrial elevators—also known as freight elevators or commodities elevators—are an essential part.
Multiple levels are being added to manufacturing buildings and warehouses in an effort to maximise available space and boost productivity. Industrial elevators are essential for transporting heavy equipment, machinery, and goods between these floors. There is a growing need for industrial elevators as these sectors grow vertically.
Heavy or large products can be moved more quickly and easily with the use of industrial elevators, which can boost production in manufacturing and logistics. Improved throughput and cost savings might result from less physical work and quicker material handling. The global industrial elevator market is expected to be driven by the rise of the manufacturing and logistics sectors, as there is a growing demand for safe and effective vertical transportation solutions.
Scope of the Report
• The report analyses the Global Industrial Elevator Market by Value (USD Billion).
• The report presents the analysis of the Global Industrial Elevator Market for the historical period of 2019-2022, the estimated year 2023 and the forecast period of 2024-2029.
• The report analyses the Global Industrial Elevator Market by Component (New Installations, Maintenance, Modernisation).
• The report analyses the Industrial Elevator Market by Type (Hoist Elevators, Incline Elevators).
• The report analyses the Industrial Elevator Market by Capacity (<2 ton, 2-3 ton, >3 ton).
• The report analyses the Industrial Elevator Market by End-use (Construction sites, Power Plants, Manufacturing Plants (Oil & gas, Petrochemical & refining, Pulp & paper, etc.), Other End-uses (Mining & tunnels, Shipyards & ports, Warehouses, etc.).
• The key insights of the report have been presented through the frameworks of SWOT and Porter's Five Forces Analysis. Also, the attractiveness of the market has been presented by region, by Component, by Type, by Capacity and by End-use.
• Also, the major opportunities, trends, drivers and challenges of the industry have been analyzed in the report.
• The report tracks competitive developments, strategies, mergers and acquisitions and new product development. The companies analysed in the report include Alimak Hek Group AB, Hitachi, Schindler, Hyundai Elevator Co., Ltd, Kleemann Hellas SA, Mitsubishi Electric Corporation, Nordstrong Equipment, GEDA, Delta Elevator Co Ltd, STROS.
1. Market Background
1.1 Scope and Product Outlook
1.2 Executive Summary
1.3 Research Methodology
2. Strategic Recommendations
3. Global Industrial Elevator Market: Historic and Forecast (2019-2029)
3.1 Impact Analysis of Macro Economic Factors on Industrial Elevator Market
3.2 Global Industrial Elevator Market: Government Regulations
3.3 Global Industrial Elevator Market: Dashboard
3.4 Global Industrial Elevator Market: Market Value Assessment, 2019-2029 (USD Billion)
3.5 Global Industrial Elevator Market: Market Volume Assessment, 2019-2029 (in Units)
3.6 Average Installation Cost Analysis of Industrial Elevator Globally
3.7 Impact of COVID-19 on the Industrial Elevator Market
3.8 Global Industrial Elevator Market Segmentation: By Component
3.8.1 Global Industrial Elevator Market, By Component Overview
3.8.2 Global Industrial Elevator Market Size, By New Installations, By Value, 2019H-2029F (USD Billion & CAGR)
3.8.3 Global Industrial Elevator Market Size, By Maintenance, By Value, 2019H-2029F (USD Billion & CAGR)
3.8.4 Global Industrial Elevator Market Size, By Modernisation, By Value, 2019H-2029F (USD Billion & CAGR)
3.9 Global Industrial Elevator Market Segmentation: By Type
3.9.1 Global Industrial Elevator Market, By Type Overview
3.9.2 Global Industrial Elevator Market Size, By Hoist Elevators, By Value, 2019H-2029F (USD Billion & CAGR)
3.9.3 Global Industrial Elevator Market Size, By Incline Elevators, By Value, 2019H-2029F (USD Billion & CAGR)
3.10 Global Industrial Elevator Market Segmentation: By Capacity
3.10.1 Global Industrial Elevator Market, By Capacity Overview
3.10.2 Global Industrial Elevator Market Size, By <2 ton, By Value, 2019H-2029F (USD Billion & CAGR)
3.10.3 Global Industrial Elevator Market Size, By 2-3 ton, By Value, 2019H-2029F (USD Billion & CAGR)
3.10.4 Global Industrial Elevator Market Size, By >3 ton, By Value, 2019H-2029F (USD Billion & CAGR)
3.11 Global Industrial Elevator Market Segmentation: By End-use
3.11.1 Global Industrial Elevator Market, By End-use Overview
3.11.2 Global Industrial Elevator Market Size, By Construction Sites, By Value, 2019H-2029F (USD Billion & CAGR)
3.11.3 Global Industrial Elevator Market Size, By Power Plants, By Value, 2019H-2029F (USD Billion & CAGR)
3.11.4 Global Industrial Elevator Market Size, By Manufacturing Plants, By Value, 2019H-2029F (USD Billion & CAGR)
3.11.5 Global Industrial Elevator Market Size, By Other End-uses, By Value, 2019H-2029F (USD Billion & CAGR)
4. Global Industrial Elevator Market: Regional Analysis
4.1 Regional Coverage of the Study
4.2 Regional Snapshot
5. Americas Industrial Elevator Market: Historic and Forecast (2019-2029)
5.1 Americas Industrial Elevator Market: Snapshot
5.2 Americas Industrial Elevator Market: Market Value Assessment, 2019-2029 (USD Billion & CAGR)
5.3 Americas Industrial Elevator Market: Market Volume Assessment, 2019-2029 (in Units)
5.4 Americas Industrial Elevator Market: Key Factors
5.5 Americas Industrial Elevator Market Segmentation: By Component
5.5.1 Americas Industrial Elevator Market, By Component Overview
5.5.2 Americas Industrial Elevator Market Size, By New Installations, By Value, 2019H-2029F (USD Billion & CAGR)
5.5.3 Americas Industrial Elevator Market Size, By Maintenance, By Value, 2019H-2029F (USD Billion & CAGR)
5.5.4 Americas Industrial Elevator Market Size, By Modernisation, By Value, 2019H-2029F (USD Billion & CAGR)
5.6 Americas Industrial Elevator Market Segmentation: By Type
5.6.1 Americas Industrial Elevator Market, By Type Overview
5.6.2 Americas Industrial Elevator Market Size, By Hoist Elevators, By Value, 2019H-2029F (USD Billion & CAGR)
5.6.3 Americas Industrial Elevator Market Size, By Incline Elevators, By Value, 2019H-2029F (USD Billion & CAGR)
5.7 Americas Industrial Elevator Market Segmentation: By Capacity
5.7.1 Americas Industrial Elevator Market, By Capacity Overview
5.7.2 Americas Industrial Elevator Market Size, By <2 ton, By Value, 2019H-2029F (USD Billion & CAGR)
5.7.3 Americas Industrial Elevator Market Size, By 2-3 ton, By Value, 2019H-2029F (USD Billion & CAGR)
5.7.4 Americas Industrial Elevator Market Size, By >3 ton, By Value, 2019H-2029F (USD Billion & CAGR)
5.8 Americas Industrial Elevator Market Segmentation: By End-use
5.8.1 Americas Industrial Elevator Market, By End-use Overview
5.8.2 Americas Industrial Elevator Market Size, By Construction Sites, By Value, 2019H-2029F (USD Billion & CAGR)
5.8.3 Americas Industrial Elevator Market Size, By Power Plants, By Value, 2019H-2029F (USD Billion & CAGR)
5.8.4 Americas Industrial Elevator Market Size, By Manufacturing Plants, By Value, 2019H-2029F (USD Billion & CAGR)
5.8.5 Americas Industrial Elevator Market Size, By Other End-uses, By Value, 2019H-2029F (USD Billion & CAGR)
5.9 Americas Industrial Elevator Market Segmentation: By Country
5.9.1 Americas Industrial Elevator Market, By Country Overview
5.9.2 United States Industrial Elevator Market: Market Size and CAGR, 2019-2029 (USD Billion & CAGR)
5.9.2.1 United States Industrial Elevator Market, By Component
5.9.2.2 United States Industrial Elevator Market, By Type
5.9.2.3 United States Industrial Elevator Market, By Capacity
5.9.2.4 United States Industrial Elevator Market, By End-use
5.9.3 Canada Industrial Elevator Market: Market Size and CAGR, 2019-2029 (USD Billion & CAGR)
5.9.3.1 Canada Industrial Elevator Market, By Component
5.9.3.2 Canada Industrial Elevator Market, By Type
5.9.3.3 Canada Industrial Elevator Market, By Capacity
5.9.3.4 Canada Industrial Elevator Market, By End-use
5.9.4 Brazil Industrial Elevator Market: Market Size and CAGR, 2019-2029 (USD Billion & CAGR)
5.9.4.1 Brazil Industrial Elevator Market, By Component
5.9.4.2 Brazil Industrial Elevator Market, By Type
5.9.4.3 Brazil Industrial Elevator Market, By Capacity
5.9.4.4 Brazil Industrial Elevator Market, By End-use
5.9.5 Rest of Americas Industrial Elevator Market: Market Size and CAGR, 2019-2029 (USD Billion & CAGR)
5.9.5.1 Rest of Americas Industrial Elevator Market, By Component
5.9.5.2 Rest of Americas Industrial Elevator Market, By Type
5.9.5.3 Rest of Americas Industrial Elevator Market, By Capacity
5.9.5.4 Rest of Americas Industrial Elevator Market, By End-use
6. Europe Industrial Elevator Market: Historic and Forecast (2019-2029)
6.1 Europe Industrial Elevator Market: Snapshot
6.2 Europe Industrial Elevator Market: Market Value Assessment, 2019-2029 (USD Billion & CAGR)
6.3 Europe Industrial Elevator Market: Market Volume Assessment, 2019-2029 (in Units)
6.4 Europe Industrial Elevator Market: Key Factors
6.5 Europe Industrial Elevator Market Segmentation: By Component
6.5.1 Europe Industrial Elevator Market, By Component Overview
6.5.2 Europe Industrial Elevator Market Size, By New Installations, By Value, 2019H-2029F (USD Billion & CAGR)
6.5.3 Europe Industrial Elevator Market Size, By Maintenance, By Value, 2019H-2029F (USD Billion & CAGR)
6.5.4 Europe Industrial Elevator Market Size, By Modernisation, By Value, 2019H-2029F (USD Billion & CAGR)
6.6 Europe Industrial Elevator Market Segmentation: By Type
6.6.1 Europe Industrial Elevator Market, By Type Overview
6.6.2 Europe Industrial Elevator Market Size, By Hoist Elevators, By Value, 2019H-2029F (USD Billion & CAGR)
6.6.3 Europe Industrial Elevator Market Size, By Incline Elevators, By Value, 2019H-2029F (USD Billion & CAGR)
6.7 Europe Industrial Elevator Market Segmentation: By Capacity
6.7.1 Europe Industrial Elevator Market, By Capacity Overview
6.7.2 Europe Industrial Elevator Market Size, By <2 ton, By Value, 2019H-2029F (USD Billion & CAGR)
6.7.3 Europe Industrial Elevator Market Size, By 2-3 ton, By Value, 2019H-2029F (USD Billion & CAGR)
6.7.4 Europe Industrial Elevator Market Size, By >3 ton, By Value, 2019H-2029F (USD Billion & CAGR)
6.8 Europe Industrial Elevator Market Segmentation: By End-use
6.8.1 Europe Industrial Elevator Market, By End-use Overview
6.8.2 Europe Industrial Elevator Market Size, By Construction sites, By Value, 2019H-2029F (USD Billion & CAGR)
6.8.3 Europe Industrial Elevator Market Size, By Power Plants, By Value, 2019H-2029F (USD Billion & CAGR)
6.8.4 Europe Industrial Elevator Market Size, By Manufacturing Plants, By Value, 2019H-2029F (USD Billion & CAGR)
6.8.5 Europe Industrial Elevator Market Size, By Other End-uses, By Value, 2019H-2029F (USD Billion & CAGR)
6.9 Europe Industrial Elevator Market Segmentation: By Country
6.9.1 Europe Industrial Elevator Market, By Country Overview
6.9.2 Germany Industrial Elevator Market: Market Size and CAGR, 2019-2029 (USD Billion & CAGR)
6.9.2.1 Germany Industrial Elevator Market, By Component
6.9.2.2 Germany Industrial Elevator Market, By Type
6.9.2.3 Germany Industrial Elevator Market, By Capacity
6.9.2.4 Germany Industrial Elevator Market, By End-use
6.9.3 France Industrial Elevator Market: Market Size and CAGR, 2019-2029 (USD Billion & CAGR)
6.9.3.1 France Industrial Elevator Market, By Component
6.9.3.2 France Industrial Elevator Market, By Type
6.9.3.3 France Industrial Elevator Market, By Capacity
6.9.3.4 France Industrial Elevator Market, By End-use
6.9.4 United Kingdom Industrial Elevator Market: Market Size and CAGR, 2019-2029 (USD Billion & CAGR)
6.9.4.1 United Kingdom Industrial Elevator Market, By Component
6.9.4.2 United Kingdom Industrial Elevator Market, By Type
6.9.4.3 United Kingdom Industrial Elevator Market, By Capacity
6.9.4.4 United Kingdom Industrial Elevator Market, By End-use
6.9.5 Rest of Europe Industrial Elevator Market: Market Size and CAGR, 2019-2029 (USD Billion & CAGR)
6.9.5.1 Rest of Europe Industrial Elevator Market, By Component
6.9.5.2 Rest of Europe Industrial Elevator Market, By Type
6.9.5.3 Rest of Europe Industrial Elevator Market, By Capacity
6.9.5.4 Rest of Europe Industrial Elevator Market, By End-use
7. Asia Pacific Industrial Elevator Market: Historic and Forecast (2019-2029)
7.1 Asia Pacific Industrial Elevator Market: Snapshot
7.2 Asia Pacific Industrial Elevator Market: Market Value Assessment, 2019-2029 (USD Billion & CAGR)
7.3 Asia Pacific Industrial Elevator Market: Market Volume Assessment, 2019-2029 (in Units)
7.4 Asia Pacific Industrial Elevator Market: Key Factors
7.5 Asia Pacific Industrial Elevator Market Segmentation: By Component
7.5.1 Asia Pacific Industrial Elevator Market, By Component Overview
7.5.2 Asia Pacific Industrial Elevator Market Size, By New Installations, By Value, 2019H-2029F (USD Billion & CAGR)
7.5.3 Asia Pacific Industrial Elevator Market Size, By Maintenance, By Value, 2019H-2029F (USD Billion & CAGR)
7.5.4 Asia Pacific Industrial Elevator Market Size, By Modernisation, By Value, 2019H-2029F (USD Billion & CAGR)
7.6 Asia Pacific Industrial Elevator Market Segmentation: By Type
7.6.1 Asia Pacific Industrial Elevator Market, By Type Overview
7.6.2 Asia Pacific Industrial Elevator Market Size, By Hoist Elevators, By Value, 2019H-2029F (USD Billion & CAGR)
7.6.3 Asia Pacific Industrial Elevator Market Size, By Incline Elevators, By Value, 2019H-2029F (USD Billion & CAGR)
7.7 Asia Pacific Industrial Elevator Market Segmentation: By Capacity
7.7.1 Asia Pacific Industrial Elevator Market, By Capacity Overview
7.7.2 Asia Pacific Industrial Elevator Market Size, By <2 ton, By Value, 2019H-2029F (USD Billion & CAGR)
7.7.3 Asia Pacific Industrial Elevator Market Size, By 2-3 ton, By Value, 2019H-2029F (USD Billion & CAGR)
7.7.4 Asia Pacific Industrial Elevator Market Size, By >3 ton, By Value, 2019H-2029F (USD Billion & CAGR)
7.8 Asia Pacific Industrial Elevator Market Segmentation: By End-use
7.8.1 Asia Pacific Industrial Elevator Market, By End-use Overview
7.8.2 Asia Pacific Industrial Elevator Market Size, By Construction sites, By Value, 2019H-2029F (USD Billion & CAGR)
7.8.3 Asia Pacific Industrial Elevator Market Size, By Power Plants, By Value, 2019H-2029F (USD Billion & CAGR)
7.8.4 Asia Pacific Industrial Elevator Market Size, By Manufacturing Plants, By Value, 2019H-2029F (USD Billion & CAGR)
7.8.5 Asia Pacific Industrial Elevator Market Size, By Other End-uses, By Value, 2019H-2029F (USD Billion & CAGR)
7.9 Asia Pacific Industrial Elevator Market Segmentation: By Country
7.9.1 Asia Pacific Industrial Elevator Market, By Country Overview
7.9.2 China Industrial Elevator Market: Market Size and CAGR, 2019-2029 (USD Billion & CAGR)
7.9.2.1 China Industrial Elevator Market, By Component
7.9.2.2 China Industrial Elevator Market, By Type
7.9.2.3 China Industrial Elevator Market, By Capacity
7.9.2.4 China Industrial Elevator Market, By End-use
7.9.3 Japan Industrial Elevator Market: Market Size and CAGR, 2019-2029 (USD Billion & CAGR)
7.9.3.1 Japan Industrial Elevator Market, By Component
7.9.3.2 Japan Industrial Elevator Market, By Type
7.9.3.3 Japan Industrial Elevator Market, By Capacity
7.9.3.4 Japan Industrial Elevator Market, By End-use
7.9.4 India Industrial Elevator Market: Market Size and CAGR, 2019-2029 (USD Billion & CAGR)
7.9.4.1 India Industrial Elevator Market, By Component
7.9.4.2 India Industrial Elevator Market, By Type
7.9.4.3 India Industrial Elevator Market, By Capacity
7.9.4.4 India Industrial Elevator Market, By End-use
7.9.5 Australia Industrial Elevator Market: Market Size and CAGR, 2019-2029 (USD Billion & CAGR)
7.9.5.1 Australia Industrial Elevator Market, By Component
7.9.5.2 Australia Industrial Elevator Market, By Type
7.9.5.3 Australia Industrial Elevator Market, By Capacity
7.9.5.4 Australia Industrial Elevator Market, By End-use
7.9.6 Rest of Asia Pacific Industrial Elevator Market: Market Size and CAGR, 2019-2029 (USD Billion & CAGR)
7.9.6.1 Rest of Asia Pacific Industrial Elevator Market, By Component
7.9.6.2 Rest of Asia Pacific Industrial Elevator Market, By Type
7.9.6.3 Rest of Asia Pacific Industrial Elevator Market, By Capacity
7.9.6.4 Rest of Asia Pacific Industrial Elevator Market, By End-use
8. Middle East & Africa Industrial Elevator Market: Historic and Forecast (2019-2029)
8.1 Middle East & Africa Industrial Elevator Market: Snapshot
8.2 Middle East & Africa Industrial Elevator Market: Market Value Assessment, 2019-2029 (USD Billion & CAGR)
8.3 Middle East & Africa Industrial Elevator Market: Market Volume Assessment, 2019-2029 (in Units)
8.4 Middle East & Africa Industrial Elevator Market: Key Factors
8.5 Middle East & Africa Industrial Elevator Market Segmentation: By Component
8.5.1 Middle East & Africa Industrial Elevator Market, By Component Overview
8.5.2 Middle East & Africa Industrial Elevator Market Size, By New Installations, By Value, 2019H-2029F (USD Billion & CAGR)
8.5.3 Middle East & Africa Industrial Elevator Market Size, By Maintenance, By Value, 2019H-2029F (USD Billion & CAGR)
8.5.4 Middle East & Africa Industrial Elevator Market Size, By Modernisation, By Value, 2019H-2029F (USD Billion & CAGR)
8.6 Middle East & Africa Industrial Elevator Market Segmentation: By Type
8.6.1 Middle East & Africa Industrial Elevator Market, By Type Overview
8.6.2 Middle East & Africa Industrial Elevator Market Size, By Hoist Elevators, By Value, 2019H-2029F (USD Billion & CAGR)
8.6.3 Middle East & Africa Industrial Elevator Market Size, By Incline Elevators, By Value, 2019H-2029F (USD Billion & CAGR)
8.7 Middle East & Africa Industrial Elevator Market Segmentation: By Capacity
8.7.1 Middle East & Africa Industrial Elevator Market, By Capacity Overview
8.7.2 Middle East & Africa Industrial Elevator Market Size, By <2 ton, By Value, 2019H-2029F (USD Billion & CAGR)
8.7.3 Middle East & Africa Industrial Elevator Market Size, By 2-3 ton, By Value, 2019H-2029F (USD Billion & CAGR)
8.7.4 Middle East & Africa Industrial Elevator Market Size, By >3 ton, By Value, 2019H-2029F (USD Billion & CAGR)
8.8 Middle East & Africa Industrial Elevator Market Segmentation: By End-use
8.8.1 Middle East & Africa Industrial Elevator Market, By End-use Overview
8.8.2 Middle East & Africa Industrial Elevator Market Size, By Construction sites, By Value, 2019H-2029F (USD Billion & CAGR)
8.8.3 Middle East & Africa Industrial Elevator Market Size, By Power Plants, By Value, 2019H-2029F (USD Billion & CAGR)
8.8.4 Middle East & Africa Industrial Elevator Market Size, By Manufacturing Plants, By Value, 2019H-2029F (USD Billion & CAGR)
8.8.5 Middle East & Africa Industrial Elevator Market Size, By Other End-uses, By Value, 2019H-2029F (USD Billion & CAGR)
9. Market Dynamics
9.1 Impact Assessment of Market Dynamics on the Global Industrial Elevator Market
9.2 Drivers
9.3 Restraints
9.4 Trends
10. Industry Ecosystem Analysis
10.1 Value Chain Analysis
10.2 Porter's Five Forces Model
11. Competitive Positioning
11.1 Companies' Product Positioning
11.2 Market Position Matrix
11.3 Market Share Analysis of Industrial Elevator Screening Market
11.4 Company Profiles
11.4.1 Alimak Group
11.4.2 Hitachi, Ltd.
11.4.3 Schindler Holding Ltd.
11.4.4 Hyundai Elevator Co. Ltd.
11.4.5 Kleemann Hellas S.A.
11.4.6 Mitsubishi Electric Corporation
11.4.7 Nordstrong Equipment
11.4.8 GEDA
11.4.9 Delta Elevator Co Ltd
11.4.10 Stros-sedlcanske Strojirny A.S.
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