Elevator and Escalator Market in Germany by Product and Service - Forecast and Analysis 2021-2025

The elevator and escalator market share in Germany is expected to increase by USD 650 million from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 3.77%.

This elevator and escalator market in Germany research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers elevator and escalator market in Germany segmentations by product (elevator and escalator), service (maintenance, new installations, and modernization), and geography (North America, APAC, North America, and APAC). The elevator and escalator market in Germany report also offers information on several market vendors, including Fuji Electric Co. Ltd., Fujitec Co. Ltd., HIRO LIFT Hillenkotter Ronsieck GmbH, Hitachi Ltd., KOHLER Elevator GmbH, KONE Corp., Otis Worldwide Corp., Schindler Holding Ltd., thyssenkrupp Elevator AG, and WITTUR HOLDING GmbH among others.

What will the Elevator And Escalator Market Size in Germany be During the Forecast Period?

Download the Free Report Sample to Unlock the Elevator and Escalator Market Size in Germany for the Forecast Period and Other Important Statistics

 

Elevator And Escalator Market in Germany: Key Drivers, Trends, and Challenges

Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The increasing adoption of energy-efficient elevator and escalator is notably driving the elevator and escalator market in Germany growth, although factors such as economic profitability of investments in energy-efficient systems may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the elevator and escalator market in Germany industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Elevator And Escalator Market Driver in Germany

One of the key factors driving the elevator and escalator market growth in Germany is the increasing adoption of energy-efficient elevator and escalator. As comfort requirements have increased, energy consumption in buildings has undergone a significant increase, which is one of the leading causes of CO emissions. Many vendors are increasingly interested in acquiring energy-efficient systems to improve their engineering, procurement, and construction (EPC) ratings. The general population is also increasingly looking for strict emission limits. Therefore, many companies are adopting eco-friendly solutions as a public way of demonstrating a strong commitment to green practices and improving the environment. Thus, the image of the institution is saved. These factors are anticipated to drive the adoption of energy-efficient elevators and escalators and increase the unit demand. As these systems are more expensive compared with conventional elevators and escalators, they are expected to drive value gains during the forecast period.

Key Elevator And Escalator Market Trend in Germany

Adoption of advanced materials for ropes is the major trend influencing the elevator and escalator market growth in Germany. A variety of roping systems can be employed depending on the conditions of each installation (machine positioning, rated load and speed, and available space, among others). Manufacturers are reducing the weight of the sheave, pulleys, and steel cable, as they have a significant effect on the energy consumption of lifts. The weight of ropes is becoming an increasingly important concern as building heights increase rapidly. Aramid ropes were introduced to reduce the weight of the cables. As aramid ropes are expensive, some manufacturers are using traction belts instead of ropes. Traction belts consist of a band of ultra-thin steel cables encapsulated in a polyurethane sheath. These belts can reach twice the lifetime of the standard steel ropes. The higher bending capabilities of both aramid ropes and polyurethane belts make the use of a smaller traction sheave possible, reducing the moment of inertia required, which results in a smaller torque requirement and the use of a smaller motor.

Key Elevator And Escalator Market Challenge in Germany

Economic profitability of investments in energy-efficient systems is one of the key challenges hindering the elevator and escalator market growth in Germany. Elevators represent a much smaller size of buildings energy utilization as most elevators are almost 20 years old and can be improved to save up to 50% of electricity through the utilization of superior drives. Changing energy prices may affect the economic profitability of investments in energy efficient technology. The high initial costs associated with modernizing elevators as replacing the hoist machine can add up to $50,000 to $75,000 to the cost of each car, which is another reason that hinders the market growth. It is difficult to recoup this investment on energy savings alone, given that electricity price has been relatively stable after 2013. In addition, modernization takes time as the elevators will be out of service for typically 12 to 15 months. Hence, companies such as Schindler offer elevator lighting systems as part of energy-saving solutions to expand their market footprint. Therefore, these factors are expected to hamper the growth of the focus market during the forecast period.

This elevator and escalator market in Germany analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the elevator and escalator market in Germany as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the elevator and escalator market in Germany during the forecast period.

Who are the Major Elevator And Escalator Market Vendors in Germany?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• Fuji Electric Co. Ltd.
• Fujitec Co. Ltd.
• HIRO LIFT Hillenkotter Ronsieck GmbH
• Hitachi Ltd.
• KOHLER Elevator GmbH
• KONE Corp.
• Otis Worldwide Corp.
• Schindler Holding Ltd.
• thyssenkrupp Elevator AG
• WITTUR HOLDING GmbH

 

This statistical study of the elevator and escalator market in Germany encompasses successful business strategies deployed by the key vendors. The elevator and escalator market in Germany is fragmented and the vendors are deploying growth strategies such as organic and inorganic strategies to compete in the market.

Product Insights and News

• Fuji Electric Co. Ltd. - The company offers passenger elevators.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The elevator and escalator market in Germany forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Elevator And Escalator Market in Germany Value Chain Analysis

Our report provides extensive information on the value chain analysis for the elevator and escalator market in Germany, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

 

What are the Revenue-generating Product Segments in the Elevator And Escalator Market in Germany?

To gain further insights on the market contribution of various segments Request for a FREE sample

The elevator and escalator market share in Germany growth by the elevator will be significant during the forecast period. Maintenance needs and modernization projects are the main factors driving the hydraulic elevators market as developers are opting to construct mid-rise and high-rise buildings due to the shortage of real estate in urban areas.

Besides the above-mentioned factors, the post COVID-19 impact has brought forth a slowdown in or fast tracked the demand for the service or product. This report provides an accurate prediction of the contribution of all the segments to the growth of the elevator and escalator market size in Germany and actionable market insights on post COVID-19 impact on each segment.

 

Elevator And Escalator Market Scope in Germany
Report Coverage	Details
Page number	120
Base year	2020
Forecast period	2021-2025
Growth momentum & CAGR	Accelerate at a CAGR of 3.77%
Market growth 2021-2025	$ 650 million
Market structure	Fragmented
YoY growth (%)	3.13
Regional analysis	North America, APAC, North America, and APAC
Performing market contribution	North America at 95%
Key consumer countries	Africa, Armenia, Azerbaijan, and Asia
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Fuji Electric Co. Ltd., Fujitec Co. Ltd., HIRO LIFT Hillenkotter Ronsieck GmbH, Hitachi Ltd., KOHLER Elevator GmbH, KONE Corp., Otis Worldwide Corp., Schindler Holding Ltd., thyssenkrupp Elevator AG, and WITTUR HOLDING GmbH
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Request for a FREE sample

What are the Key Data Covered in this Elevator And Escalator Market In Germany Report?

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive elevator and escalator market in Germany growth during the next five years
• Precise estimation of the elevator and escalator market size in Germany and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the elevator and escalator market in Germany industry across North America, APAC, North America, and APAC
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of elevator and escalator market in Germany vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch