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Europe 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

Published: 31 Oct 2023 | Report Code: 10247548 | Pages: 118

Europe Elevator Modernization Market was valued at $2.65 billion in 2022 and will grow by 5.0% annually over 2022-2032, driven by the growing number of aged buildings, the rising demand for elevator renovation, and the continued expansion of the construction industry. Highlighted with 37 tables and 49 figures, this 118-page report “Europe 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 comprehensive research of the entire Europe 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 the identification and investigation of the following aspects:
• Market Structure 
• Growth Drivers 
• Restraints and Challenges
• Emerging Product Trends & Market Opportunities
• Porter’s Five Forces

 

The trend and outlook of Europe market is forecast in an optimistic, balanced, and conservative view by taking into account COVID-19 and Russia-Ukraine conflict. The balanced (most likely) projection is used to quantify Europe 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 Europe 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 Europe 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 Europe 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 Europe 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:
• Germany
• UK
• France
• Spain
• Italy
• Russia
• Rest of Europe (further segmented into Netherlands, Switzerland, Poland, Sweden, Belgium, Austria, Ireland, Norway, Denmark, and Finland)

 

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.)

Table of Contents:

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 Europe 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 Europe 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 Europe 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 Europe 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 European Market 2022-2032 by Country    73
7.1 Overview of European Market    73
7.2 Germany    76
7.3 UK    78
7.4 France    80
7.5 Spain    82
7.6 Italy    84
7.7 Russia    86
7.8 Rest of European Market    88
8 Competitive Landscape    90
8.1 Overview of Key Vendors    90
8.2 New Product Launch, Partnership, Investment, and M&A    93
8.3 Company Profiles    94
Doppler S.A.    94
Fujitec Co., Ltd.    96
Hitachi, Ltd.    97
Hyundai Elevator Co., Ltd.    98
Johnson Lifts Private Ltd.    99
KONE Corporation    100
Magnetek, Inc.    101
Mitsubishi Electric Corporation    102
Otis Elevator Company    103
Richmond Elevator (REM)    104
Schindler Holding Ltd.    105
Sematic S.p.A    106
Siemens AG    107
ThyssenKrupp Elevator AG    108
Toshiba Elevator and Building Systems Corporation (TOSHIBA)    109
United Technologies Corporation    110
Wittur Group    111
9 Investing in Europe Market: Risk Assessment and Management    112
9.1 Risk Evaluation of Europe Market    112
9.2 Critical Success Factors (CSFs)    115
Related Reports and Products    118

 

List of Tables:

Table 1. Snapshot of Europe Elevator Modernization Market in Balanced Perspective, 2022-2032    17
Table 2. World Economic Outlook, 2021-2031    21
Table 3. World Economic Outlook, 2021-2023    22
Table 4. Scenarios for Economic Impact of Ukraine Crisis    26
Table 5. Main Product Trends and Market Opportunities in Europe Elevator Modernization Market    36
Table 6. Europe Elevator Modernization Market by Modernization Type, 2022-2032, $ mn    44
Table 7. Europe Elevator Modernization Market by Elevator Type, 2022-2032, $ mn    48
Table 8. Europe Elevator Modernization Market: Hydraulic Elevators by Elevator Type, 2022-2032, $ mn    50
Table 9. Europe Elevator Modernization Market: Traction Elevators by Elevator Type, 2022-2032, $ mn    54
Table 10. Europe Elevator Modernization Market by Component, 2022-2032, $ mn    60
Table 11. Europe Elevator Modernization Market: Controllers by Type, 2022-2032, $ mn    64
Table 12. Europe Elevator Modernization Market by Application, 2022-2032, $ mn    68
Table 13. Europe Elevator Modernization Market by Country, 2022-2032, $ mn    75
Table 14. Germany Elevator Modernization Market by Elevator Type, 2022-2032, $ mn    77
Table 15. Germany Elevator Modernization Market by Component, 2022-2032, $ mn    77
Table 16. Germany Elevator Modernization Market by Application, 2022-2032, $ mn    77
Table 17. UK Elevator Modernization Market by Elevator Type, 2022-2032, $ mn    79
Table 18. UK Elevator Modernization Market by Component, 2022-2032, $ mn    79
Table 19. UK Elevator Modernization Market by Application, 2022-2032, $ mn    79
Table 20. France Elevator Modernization Market by Elevator Type, 2022-2032, $ mn    81
Table 21. France Elevator Modernization Market by Component, 2022-2032, $ mn    81
Table 22. France Elevator Modernization Market by Application, 2022-2032, $ mn    81
Table 23. Spain Elevator Modernization Market by Elevator Type, 2022-2032, $ mn    83
Table 24. Spain Elevator Modernization Market by Component, 2022-2032, $ mn    83
Table 25. Spain Elevator Modernization Market by Application, 2022-2032, $ mn    83
Table 26. Italy Elevator Modernization Market by Elevator Type, 2022-2032, $ mn    85
Table 27. Italy Elevator Modernization Market by Component, 2022-2032, $ mn    85
Table 28. Italy Elevator Modernization Market by Application, 2022-2032, $ mn    85
Table 29. Russia Elevator Modernization Market by Elevator Type, 2022-2032, $ mn    87
Table 30. Russia Elevator Modernization Market by Component, 2022-2032, $ mn    87
Table 31. Russia Elevator Modernization Market by Application, 2022-2032, $ mn    87
Table 32. Elevator Modernization Market in Rest of Europe by Country, 2022-2032, $ mn    89
Table 33. Doppler S.A.: Company Snapshot    94
Table 34. Doppler S.A.: Business Segmentation    94
Table 35. Doppler S.A.: Product Portfolio    95
Table 36. Risk Evaluation for Investing in Europe Market, 2022-2032    113
Table 37. Critical Success Factors and Key Takeaways    116

 

List of Figures:

Figure 1. Research Method Flow Chart    11
Figure 2. Bottom-up Approach and Top-down Approach for Market Estimation    14
Figure 3. Europe Market Forecast in Optimistic, Conservative and Balanced Perspectives, 2022-2032    16
Figure 4. Europe Elevator Modernization Market, 2022-2032, $ mn    19
Figure 5. Impact of COVID-19 on Business    23
Figure 6. Primary Drivers and Impact Factors of Europe Elevator Modernization Market    29
Figure 7. World Construction Industry, 2019-2030, $ trillion    32
Figure 8. Primary Restraints and Impact Factors of Europe Elevator Modernization Market    33
Figure 9. Investment Opportunity Analysis    37
Figure 10. Porter’s Fiver Forces Analysis of Europe Elevator Modernization Market    40
Figure 11. Breakdown of Europe Elevator Modernization Market by Modernization Type, 2022-2032, % of Revenue    44
Figure 12. Contribution to Europe 2023-2032 Cumulative Revenue by Modernization Type, Value ($ mn) and Share (%)    45
Figure 13. Europe Elevator Modernization Market by Modernization Type: Full Modernization, 2022-2032, $ mn    46
Figure 14. Europe Elevator Modernization Market by Modernization Type: Partial Modernization, 2022-2032, $ mn    47
Figure 15. Breakdown of Europe Elevator Modernization Market by Elevator Type, 2022-2032, % of Revenue    48
Figure 16. Contribution to Europe 2023-2032 Cumulative Revenue by Elevator Type, Value ($ mn) and Share (%)    49
Figure 17. Europe Elevator Modernization Market by Elevator Type: Hydraulic Elevators, 2022-2032, $ mn    50
Figure 18. Europe Elevator Modernization Market by Hydraulic Elevators: Conventional Hydraulic Elevators, 2022-2032, $ mn    51
Figure 19. Europe Elevator Modernization Market by Hydraulic Elevators: Hole-less Hydraulic Elevators, 2022-2032, $ mn    52
Figure 20. Europe Elevator Modernization Market by Hydraulic Elevators: Roped Hydraulic Elevators, 2022-2032, $ mn    53
Figure 21. Europe Elevator Modernization Market by Elevator Type: Traction Elevators, 2022-2032, $ mn    54
Figure 22. Europe Elevator Modernization Market by Traction Elevators: Geared Traction Elevators, 2022-2032, $ mn    55
Figure 23. Europe Elevator Modernization Market by Traction Elevators: Gear-less Traction Elevators, 2022-2032, $ mn    56
Figure 24. Europe Elevator Modernization Market by Traction Elevators: Machine Room-Less Elevators, 2022-2032, $ mn    57
Figure 25. Europe Elevator Modernization Market by Elevator Type: Climbing Elevators, 2022-2032, $ mn    58
Figure 26. Europe Elevator Modernization Market by Elevator Type: Pneumatic/Vacuum Elevators, 2022-2032, $ mn    59
Figure 27. Breakdown of Europe Elevator Modernization Market by Component, 2022-2032, % of Revenue    60
Figure 28. Contribution to Europe 2023-2032 Cumulative Revenue by Component, Value ($ mn) and Share (%)    61
Figure 29. Europe Elevator Modernization Market by Component: Power Units, 2022-2032, $ mn    62
Figure 30. Europe Elevator Modernization Market by Component: Cabin Enclosures, 2022-2032, $ mn    63
Figure 31. Europe Elevator Modernization Market by Component: Controllers, 2022-2032, $ mn    64
Figure 32. Europe Elevator Modernization Market by Component: Signaling Fixtures, 2022-2032, $ mn    65
Figure 33. Europe Elevator Modernization Market by Component: Door Equipment, 2022-2032, $ mn    66
Figure 34. Europe Elevator Modernization Market by Component: Other Components, 2022-2032, $ mn    67
Figure 35. Breakdown of Europe Elevator Modernization Market by Application, 2022-2032, % of Revenue    68
Figure 36. Contribution to Europe 2023-2032 Cumulative Revenue by Application, Value ($ mn) and Share (%)    69
Figure 37. Europe Elevator Modernization Market by Application: Industrial Application, 2022-2032, $ mn    70
Figure 38. Europe Elevator Modernization Market by Application: Residential Application, 2022-2032, $ mn    71
Figure 39. Europe Elevator Modernization Market by Application: Commercial Application, 2022-2032, $ mn    72
Figure 40. Breakdown of European Elevator Modernization Market by Country, 2022 and 2032, % of Revenue    74
Figure 41. Contribution to Europe 2023-2032 Cumulative Revenue by Country, Value ($ mn) and Share (%)    75
Figure 42. Elevator Modernization Market in Germany, 2022-2032, $ mn    76
Figure 43. Elevator Modernization Market in UK, 2022-2032, $ mn    78
Figure 44. Elevator Modernization Market in France, 2022-2032, $ mn    80
Figure 45. Elevator Modernization Market in Spain, 2022-2032, $ mn    82
Figure 46. Elevator Modernization Market in Italy, 2022-2032, $ mn    84
Figure 47. Elevator Modernization Market in Russia, 2022-2032, $ mn    86
Figure 48. Elevator Modernization Market in Rest of Europe, 2022-2032, $ mn    88
Figure 49. Growth Stage of Europe Elevator Modernization Industry over the Forecast Period    90
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.)