Market Size in 2021 | Market Forecast in 2028 | CAGR (in %) | Base Year |
---|---|---|---|
USD 128 Billion | USD 140 Billion | 7% | 2021 |
FrequentlyAsked Questions
The increasing need for infrastructure development, rampant construction of high-rise buildings, huge investments in construction industries, and convenient residential and non-residential venues drive market growth.
According to the report by Zion Market Research, The global elevator market was worth around $128 billion in 2021 and is predicted to grow to around $140 billion by 2028 at a CAGR rate of 7% over the forecast period
Asia Pacific region dominates the global market in terms of value and volume. There has been a spike in the demand from that region because of the easy availability of raw materials and labor costs for the production of lifts.
The key players in the global elevator market are Schindler Group, Otis Elevator, Thyssenkrupp AG, KONE Corporation, Hitachi Ltd., Fujitec Co., LTD., Hyundaielevator Co., Ltd., Electra Elevators, Mitsubishi Electric Corporation, ESCON ELEVETORS PVT LTD, Toshiba Elevator, and ETIA Elevator.
The elevator market report covers the geographical market along with a comprehensive competitive landscape analysis. It also includes cash flow analysis, profit ratio analysis, market basket analysis, market attractiveness analysis, sentiment analysis, PESTLE analysis, trend analysis, SWOT analysis, trade area analysis, demand & supply analysis, Porter’s five forces analysis, and value chain analysis.
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