
Both, Hydraulic and Traction elevators, have to carry people or various items to the different floors of the building and each elevator has a weight capacity. Modernization, partial or full, of these elevators are needed due to load carrying capacity shortages, long wait times due to slow speed, high power consumption, wear and tear of components, and new regulations.
Highlights
The global Elevator Modernization Solutions market was valued at US$ million in 2022 and is anticipated to reach US$ million by 2029, witnessing a CAGR of % during the forecast period 2023-2029. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
North American market for Elevator Modernization Solutions is estimated to increase from $ million in 2023 to reach $ million by 2029, at a CAGR of % during the forecast period of 2023 through 2029.
Asia-Pacific market for Elevator Modernization Solutions is estimated to increase from $ million in 2023 to reach $ million by 2029, at a CAGR of % during the forecast period of 2023 through 2029.
The global market for Elevator Modernization Solutions in Industrial is estimated to increase from $ million in 2023 to $ million by 2029, at a CAGR of % during the forecast period of 2023 through 2029.
The key global companies of Elevator Modernization Solutions include United Technologies Corporation, KONE Corporation, Schindler Holding Ltd., ThyssenKrupp AG, Fujitec Co Ltd., Hitachi Ltd., Electra Elevators, Hyundai Elevator Co., Ltd and Mitsubishi Electric Corporation, etc. In 2022, the world's top three vendors accounted for approximately % of the revenue.
Report Scope
This report aims to provide a comprehensive presentation of the global market for Elevator Modernization Solutions, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Elevator Modernization Solutions.
The Elevator Modernization Solutions market size, estimations, and forecasts are provided in terms of and revenue ($ millions), considering 2022 as the base year, with history and forecast data for the period from 2018 to 2029. This report segments the global Elevator Modernization Solutions market comprehensively. Regional market sizes, concerning products by type, by application, and by players, are also provided.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the Elevator Modernization Solutions companies, new entrants, and industry chain related companies in this market with information on the revenues for the overall market and the sub-segments across the different segments, by company, by type, by application, and by regions.
By Company
United Technologies Corporation
KONE Corporation
Schindler Holding Ltd.
ThyssenKrupp AG
Fujitec Co Ltd.
Hitachi Ltd.
Electra Elevators
Hyundai Elevator Co., Ltd
Mitsubishi Electric Corporation
Toshiba International Corporation
Segment by Type
Power Units
Cabin Enclosures
Controllers and Signaling Fixtures
Door Equipment
Others
Segment by Application
Industrial
Residential
Commercial
Others
By Region
North America
United States
Canada
Europe
Germany
France
UK
Italy
Russia
Nordic Countries
Rest of Europe
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA
Core Chapters
Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by type, application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 2: Introduces executive summary of global market size, regional market size, this section also introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by companies in the industry, and the analysis of relevant policies in the industry.
Chapter 3: Detailed analysis of Elevator Modernization Solutions companies’ competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6, 7, 8, 9, 10: North America, Europe, Asia Pacific, Latin America, Middle East and Africa segment by country. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and capacity of each country in the world.
Chapter 11: Provides profiles of key players, introducing the basic situation of the key companies in the market in detail, including product revenue, gross margin, product introduction, recent development, etc.
Chapter 12: The main points and conclusions of the report.
Please Note - This is an on demand report and will be delivered in 2 business days (48 hours) post payment.
1 Report Overview
1.1 Study Scope
1.2 Market Analysis by Type
1.2.1 Global Elevator Modernization Solutions Market Size Growth Rate by Type: 2018 VS 2022 VS 2029
1.2.2 Power Units
1.2.3 Cabin Enclosures
1.2.4 Controllers and Signaling Fixtures
1.2.5 Door Equipment
1.2.6 Others
1.3 Market by Application
1.3.1 Global Elevator Modernization Solutions Market Growth by Application: 2018 VS 2022 VS 2029
1.3.2 Industrial
1.3.3 Residential
1.3.4 Commercial
1.3.5 Others
1.4 Study Objectives
1.5 Years Considered
1.6 Years Considered
2 Global Growth Trends
2.1 Global Elevator Modernization Solutions Market Perspective (2018-2029)
2.2 Elevator Modernization Solutions Growth Trends by Region
2.2.1 Global Elevator Modernization Solutions Market Size by Region: 2018 VS 2022 VS 2029
2.2.2 Elevator Modernization Solutions Historic Market Size by Region (2018-2023)
2.2.3 Elevator Modernization Solutions Forecasted Market Size by Region (2024-2029)
2.3 Elevator Modernization Solutions Market Dynamics
2.3.1 Elevator Modernization Solutions Industry Trends
2.3.2 Elevator Modernization Solutions Market Drivers
2.3.3 Elevator Modernization Solutions Market Challenges
2.3.4 Elevator Modernization Solutions Market Restraints
3 Competition Landscape by Key Players
3.1 Global Top Elevator Modernization Solutions Players by Revenue
3.1.1 Global Top Elevator Modernization Solutions Players by Revenue (2018-2023)
3.1.2 Global Elevator Modernization Solutions Revenue Market Share by Players (2018-2023)
3.2 Global Elevator Modernization Solutions Market Share by Company Type (Tier 1, Tier 2, and Tier 3)
3.3 Players Covered: Ranking by Elevator Modernization Solutions Revenue
3.4 Global Elevator Modernization Solutions Market Concentration Ratio
3.4.1 Global Elevator Modernization Solutions Market Concentration Ratio (CR5 and HHI)
3.4.2 Global Top 10 and Top 5 Companies by Elevator Modernization Solutions Revenue in 2022
3.5 Elevator Modernization Solutions Key Players Head office and Area Served
3.6 Key Players Elevator Modernization Solutions Product Solution and Service
3.7 Date of Enter into Elevator Modernization Solutions Market
3.8 Mergers & Acquisitions, Expansion Plans
4 Elevator Modernization Solutions Breakdown Data by Type
4.1 Global Elevator Modernization Solutions Historic Market Size by Type (2018-2023)
4.2 Global Elevator Modernization Solutions Forecasted Market Size by Type (2024-2029)
5 Elevator Modernization Solutions Breakdown Data by Application
5.1 Global Elevator Modernization Solutions Historic Market Size by Application (2018-2023)
5.2 Global Elevator Modernization Solutions Forecasted Market Size by Application (2024-2029)
6 North America
6.1 North America Elevator Modernization Solutions Market Size (2018-2029)
6.2 North America Elevator Modernization Solutions Market Growth Rate by Country: 2018 VS 2022 VS 2029
6.3 North America Elevator Modernization Solutions Market Size by Country (2018-2023)
6.4 North America Elevator Modernization Solutions Market Size by Country (2024-2029)
6.5 United States
6.6 Canada
7 Europe
7.1 Europe Elevator Modernization Solutions Market Size (2018-2029)
7.2 Europe Elevator Modernization Solutions Market Growth Rate by Country: 2018 VS 2022 VS 2029
7.3 Europe Elevator Modernization Solutions Market Size by Country (2018-2023)
7.4 Europe Elevator Modernization Solutions Market Size by Country (2024-2029)
7.5 Germany
7.6 France
7.7 U.K.
7.8 Italy
7.9 Russia
7.10 Nordic Countries
8 Asia-Pacific
8.1 Asia-Pacific Elevator Modernization Solutions Market Size (2018-2029)
8.2 Asia-Pacific Elevator Modernization Solutions Market Growth Rate by Region: 2018 VS 2022 VS 2029
8.3 Asia-Pacific Elevator Modernization Solutions Market Size by Region (2018-2023)
8.4 Asia-Pacific Elevator Modernization Solutions Market Size by Region (2024-2029)
8.5 China
8.6 Japan
8.7 South Korea
8.8 Southeast Asia
8.9 India
8.10 Australia
9 Latin America
9.1 Latin America Elevator Modernization Solutions Market Size (2018-2029)
9.2 Latin America Elevator Modernization Solutions Market Growth Rate by Country: 2018 VS 2022 VS 2029
9.3 Latin America Elevator Modernization Solutions Market Size by Country (2018-2023)
9.4 Latin America Elevator Modernization Solutions Market Size by Country (2024-2029)
9.5 Mexico
9.6 Brazil
10 Middle East & Africa
10.1 Middle East & Africa Elevator Modernization Solutions Market Size (2018-2029)
10.2 Middle East & Africa Elevator Modernization Solutions Market Growth Rate by Country: 2018 VS 2022 VS 2029
10.3 Middle East & Africa Elevator Modernization Solutions Market Size by Country (2018-2023)
10.4 Middle East & Africa Elevator Modernization Solutions Market Size by Country (2024-2029)
10.5 Turkey
10.6 Saudi Arabia
10.7 UAE
11 Key Players Profiles
11.1 United Technologies Corporation
11.1.1 United Technologies Corporation Company Detail
11.1.2 United Technologies Corporation Business Overview
11.1.3 United Technologies Corporation Elevator Modernization Solutions Introduction
11.1.4 United Technologies Corporation Revenue in Elevator Modernization Solutions Business (2018-2023)
11.1.5 United Technologies Corporation Recent Development
11.2 KONE Corporation
11.2.1 KONE Corporation Company Detail
11.2.2 KONE Corporation Business Overview
11.2.3 KONE Corporation Elevator Modernization Solutions Introduction
11.2.4 KONE Corporation Revenue in Elevator Modernization Solutions Business (2018-2023)
11.2.5 KONE Corporation Recent Development
11.3 Schindler Holding Ltd.
11.3.1 Schindler Holding Ltd. Company Detail
11.3.2 Schindler Holding Ltd. Business Overview
11.3.3 Schindler Holding Ltd. Elevator Modernization Solutions Introduction
11.3.4 Schindler Holding Ltd. Revenue in Elevator Modernization Solutions Business (2018-2023)
11.3.5 Schindler Holding Ltd. Recent Development
11.4 ThyssenKrupp AG
11.4.1 ThyssenKrupp AG Company Detail
11.4.2 ThyssenKrupp AG Business Overview
11.4.3 ThyssenKrupp AG Elevator Modernization Solutions Introduction
11.4.4 ThyssenKrupp AG Revenue in Elevator Modernization Solutions Business (2018-2023)
11.4.5 ThyssenKrupp AG Recent Development
11.5 Fujitec Co Ltd.
11.5.1 Fujitec Co Ltd. Company Detail
11.5.2 Fujitec Co Ltd. Business Overview
11.5.3 Fujitec Co Ltd. Elevator Modernization Solutions Introduction
11.5.4 Fujitec Co Ltd. Revenue in Elevator Modernization Solutions Business (2018-2023)
11.5.5 Fujitec Co Ltd. Recent Development
11.6 Hitachi Ltd.
11.6.1 Hitachi Ltd. Company Detail
11.6.2 Hitachi Ltd. Business Overview
11.6.3 Hitachi Ltd. Elevator Modernization Solutions Introduction
11.6.4 Hitachi Ltd. Revenue in Elevator Modernization Solutions Business (2018-2023)
11.6.5 Hitachi Ltd. Recent Development
11.7 Electra Elevators
11.7.1 Electra Elevators Company Detail
11.7.2 Electra Elevators Business Overview
11.7.3 Electra Elevators Elevator Modernization Solutions Introduction
11.7.4 Electra Elevators Revenue in Elevator Modernization Solutions Business (2018-2023)
11.7.5 Electra Elevators Recent Development
11.8 Hyundai Elevator Co., Ltd
11.8.1 Hyundai Elevator Co., Ltd Company Detail
11.8.2 Hyundai Elevator Co., Ltd Business Overview
11.8.3 Hyundai Elevator Co., Ltd Elevator Modernization Solutions Introduction
11.8.4 Hyundai Elevator Co., Ltd Revenue in Elevator Modernization Solutions Business (2018-2023)
11.8.5 Hyundai Elevator Co., Ltd Recent Development
11.9 Mitsubishi Electric Corporation
11.9.1 Mitsubishi Electric Corporation Company Detail
11.9.2 Mitsubishi Electric Corporation Business Overview
11.9.3 Mitsubishi Electric Corporation Elevator Modernization Solutions Introduction
11.9.4 Mitsubishi Electric Corporation Revenue in Elevator Modernization Solutions Business (2018-2023)
11.9.5 Mitsubishi Electric Corporation Recent Development
11.10 Toshiba International Corporation
11.10.1 Toshiba International Corporation Company Detail
11.10.2 Toshiba International Corporation Business Overview
11.10.3 Toshiba International Corporation Elevator Modernization Solutions Introduction
11.10.4 Toshiba International Corporation Revenue in Elevator Modernization Solutions Business (2018-2023)
11.10.5 Toshiba International Corporation Recent Development
12 Analyst's Viewpoints/Conclusions
13 Appendix
13.1 Research Methodology
13.1.1 Methodology/Research Approach
13.1.2 Data Source
13.2 Disclaimer
13.3 Author Details
United Technologies Corporation
KONE Corporation
Schindler Holding Ltd.
ThyssenKrupp AG
Fujitec Co Ltd.
Hitachi Ltd.
Electra Elevators
Hyundai Elevator Co., Ltd
Mitsubishi Electric Corporation
Toshiba International Corporation
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*If Applicable.
