The global elevator and escalator
(E&E) market comprises of three major segments namely new installations,
maintenance and modernization. After witnessing slowdown in 2009, the E&E
market has recorded strong growth during 2010-2011 driven by increase in the
construction activities, urbanization and improving worldwide economy. In
volumetric terms, the sales of elevators were much higher as compared to the
sales of escalators as the usage of elevators is not restricted to only
commercial segment and elevators are often used in residential construction as
well.
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As far as the E&E new
installations are concerned, the growth is majorly driven by emerging markets
such as China and India, where rapid construction activities are taking place.
However, Europe, the largest market escalators and elevators, recorded marginal
growth in terms of E&E new installations. Therefore, the growth of E&E
market in the developed markets like Europe and the US has become increasingly
dependent on E&E service market.
The E&E market can also be
segmented in terms of high-rise, mid-rise, and low rise equipments, depending
on the capacity. The low rise segment was the most popular segment in 2011 as
the segment recorded higher sales both in terms of value and volume as compared
to the other two segments.
Otis led the global E&E market
in 2011 followed by KONE, Schindler, and Thyssenkrupp. The competitive
landscape of global E&E market was highly consolidated as top 4 players
accounted for more than half of the global E&E sales in 2011. The global
E&E manufacturers are increasingly being conscious about improving their
product offerings in terms of energy efficiency and maintenance cost in order
to utilize the growth opportunity present in the market. However, the future
growth of the market players will depend widely on their efficiency to answer
challenges like the growing safety concerns and slowdown in the growth of
E&E new installations in major developed markets.
The report analyzes the global
market for escalators and elevators and also discusses some of the major
regional markets. The report presents the key trends, growth drivers and the
major issues and challenges being faced in the global E&E industry. It also
profiles the four major global players, including Otis, Schindler,
ThyssenKrupp, ad KONE, along with their strategies for growth.
By combining SPSS Inc.’s data
integration and analysis capabilities with our relevant findings, we have
predicted the future growth of the industry. We employed various significant
variables that have an impact on this industry and created regression models
with SPSS Base to determine the future direction of the industry. Before
deploying the regression model, the relationship between several independent or
predictor variables and the dependent variable was analyzed using standard SPSS
output, including charts, tables and tests.
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