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Elevator Component Market Demand Product Types, Application, Regions 2030

Market Synopsis: Global Elevator Component Market

Elevator components are used primarily in the manufacturing of the elevators. Elevators has various application as, used in a myriad of end-use industries for transporting the freight and passengers both. Rapid proliferation of building in developing nations, demand for traction elevator components and hydraulic elevator components is experiencing substantial push. In result it also increases the demand being witnessed for elevator drive systems, elevator safety systems, and elevator control systems. However, the recent pandemic crisis and economic slowdown have declined the growth for a limited period. The rising population and rapid rising industrialization are likely to drive the growth of the global elevator component market over the forecast period. The elevator component market in emerging economies is expected to grow with a significant CAGR during the forecast period, 2022-2030.

Impact of Covid-19 pandemic on market

COVID-19 crisis impacted manufacturers involved in various industries and obstructed the entire supply chain, from raw materials to end product delivery. Moreover, government and policymakers are mostly engaged in handling and controlling the medical crisis to meet a healthy and safe environment for the nation’s population. The lack of understanding to manage economic risks and the business sector is expected to put the economic and industrial growth towards vulnerability. The report will include the impact of COVID-19 on the target market in detail.

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Market Dynamics: Global Elevator Component Market

Due to expanding the application of elevators in commercial and residential building, the elevator component market is expected to show substantial increase during the forecast period. In addition, rapidly growing demand for a vast number of infrastructure projects is opening up new way of generating the revenue in high-potential markets.

However, the high cost of installation of control systems in an elevator as it requires skilled technical consultants is expected to restrain the growth of the global elevator component market over the forecast period.

The company’s focus and goal of making a decisive contribution to shaping technological progress in business segments are likely to propel the demand and increase the sales volume of elevator component across the global market.

Market Segmentation: Global Elevator Component Market

The global elevator Component market is segmented based on elevator technology, load capacity, application, end-use, and regions.

The global elevator component market is segmented based on elevator technology as traction elevators, machine-room-less elevators, pneumatic elevators and hydraulic elevators. The target market is segmented based on load capacity as below 650 kg, 650 kg- 1,000 kg, 1,000 kg – 2500 kg, 2500kg – 5000 kg, and above 5000 kg.

Based on application, the global elevator component market is segmented into commercial, residential, and industrial. The commercial segment holds a major market share, as it is used in commercial centre includes malls, retail centres, and co-working places. The increasing shift towards flexible design, eco-friendly, and safety is fuel the growth the commercial segment of the global elevator component market in forecast timespan.

Regional Overview: Global Elevator Component Market

In the region, the global Elevator Component market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. During the forecast period, the Asia Pacific elevator component market is projected to endure its dominance owing to demand from rapid industrialization across the developing economies. In addition, a large number of low, medium, and high-rise buildings in this region, which require elevators for both freight and passenger movement, makes attractive market for elevator component during the forecast period.

Competitive Landscape: Global Elevator Component Market

The key players operating in the global Elevator Component market include Adams Elevator Equipment Company, Avire Ltd (Halma plc.), Böhnke & Partner GmbH, DMG, Elevator Equipment Corporation, Elevator Products Corporation, EMI / Porta Inc., Fermator Group, GAL Manufacturing Corp., Hans & Jos. Kronenberg GmbH, Hissmekano AB, Hydroware, Kinds Elteknik AB, Nidec Kinetek Elevator Technology, Wittur Group and other players. The market players have an opportunity to work on establishing and improving new distribution channels to attract the prominent consumer segment across developing countries.

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Detailed Segmentation: Global Elevator Component Market

Attribute Details
The base year for estimation 2021
Forecast period 2022-2030
Market representation Revenue in USD Million & CAGR from 2022-2030
Market Segmentation By Elevator Technology – Traction Elevators, Machine-Room-Less Elevators, Pneumatic Elevators, and Hydraulic Elevators 

By Load Capacity – Below 650 kg, 650 kg- 1,000 kg, 1,000 kg – 2500 kg, 2500kg – 5000 kg and Above 5000 kg

By Application – Commercial, Residential, and Industrial

By End-use – Passenger and Freight

Regional Scope North America – U.S., Canada 

Europe – Germany, UK, Spain, France, Italy, Russia, Rest of Europe

Asia Pacific – Japan, India, China, South Korea, Australia, Rest of Asia-Pacific

Latin America – Brazil, Mexico, Argentina, Rest of Latin America

Middle East & Africa – South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa

Report coverage Revenue forecast, company share, competitive landscape, growth factors, and trends

 

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2021 to 2028.  For the purpose of this study, analyst has segmented the global Elevator Component market report based on the elevator technology, load capacity, application, end-use, and region.

Global Elevator Component Market, By Elevator Technology:

  • Traction Elevators
  • Machine-Room-Less Elevators
  • Pneumatic Elevators
  • Hydraulic Elevators

Global Elevator Component Market, By Load Capacity:

  • Below 650 kg
  • 650 kg- 1,000 kg
  • 1,000 kg – 2500 kg,
  • 500kg – 5000 kg
  • Above 5000 kg

Global Elevator Component Market, By Application:

  • Commercial
  • Residential
  • Industrial

Global Elevator Component Market, By End-use:

  • Passenger
  • Freight

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Global Elevator Component Market, By Region:

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Russia
  • Italy
  • Rest of Europe
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia Pacific
  • Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
  • Middle East & Africa
  • GCC
  • Israel
  • South Africa
  • Rest of Middle East & Africa

Company Profile:

  • Adams Elevator Equipment Company*
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
  • Avire Ltd (Halma plc.)
  • Böhnke & Partner GmbH
  • DMG
  • Elevator Equipment Corporation
  • Elevator Products Corporation
  • EMI / Porta Inc.
  • Fermator Group
  • GAL Manufacturing Corp.
  • Hans & Jos. Kronenberg GmbH
  • Hissmekano AB
  • Hydroware
  • Kinds Elteknik AB
  • Nidec Kinetek Elevator Technology
  • Wittur Group