Global Elevator and Escalator Market Report -----------------------------------------

2015

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Executive Summary

Elevator is a type of vertical transport equipment that efficiently moves people or goods between floors or levels of a building, vessel or any other structure. The major product segments of elevators are gearless, geared hydraulic and machine-room-less elevators. Whereas an escalator is a moving staircase or a conveyor transport device for carrying people between floors of a building.

The global elevator and escalator (E&E) market comprises three main segments: New equipment, Modernization and Maintenance. Globally, half of the people are migrating from rural areas to urban areas, with rapid urbanization in emerging nations like China, India, and Middle East the demand for new equipment will surge in the years to come. In mature markets like US and Europe, cities and buildings are growing older and hence needs to be upgraded or modernized. Modernization is in itself a complex process but ensures safety and accessibility. For smooth movement of people inside and between the buildings, the equipment is to be maintained on a regular basis. There lies a huge growth opportunity in the maintenance segment.

The key trends observed in the market include sustainable urbanization, elevator and escalator technologies transforming the buildings. But there are certain challenges too which include pricing pressures, safety and environmental issues and availability of skilled workforce. The market’s main growth drivers include accelerating urbanization, growing GDP, aging of installed base, demographic changes and growing green building market.

The report provides a comprehensive study of E&E market globally. The industry comprises few large players such as UTC-Otis, KONE, Schindler and ThyssenKrupp. All these companies have been profiled in the present report highlighting their key financials and business 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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The key trends of the industry are sustainable urbanization and innovative elevator and escalator technologies.

The global elevator and escalator (E&E) market is estimated to be of worth US$... billion (EUR … billion) in 2014, an increase of …% from US$... billion (EUR … billion) in 2013. The market has been growing at a CAGR of over …% from 2006 to 2014.

The global E&E market is divided into three segments i.e. Maintenance, New Equipment and Modernization markets. Maintenance market accounts for about …% while new equipment and modernization account for …% and …% of market respectively as of 2014.

In 2014, the global E&E market amounted to US$... billion on the basis of revenue and US$... billion (EUR … billion) on the basis of operating profit. On the basis of profit split in 2014, maintenance market outside China accounted for the largest share of …% while China new equipment market and modernization accounted for …% and …% of the total profit earned by the industry.

Global E&E Market Share by Segments by Value (2014)

Global E&E Market by Value (2009-2014)

Global E&E Market Revenue and Profit Split (2014)

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In Asia-Pacific, price competition intensified in the Chinese new equipment market.

In terms of volume, the global E&E installed base is estimated to be more than … million units in 2014, an increase of …% from … million units in 2013. The global E&E installed base has been growing at a CAGR of over …% from 2009 to 2014.

The global E&E new equipment market comprises …. units in 2014, an increase of ….% from …. units in 2013. The new units of elevator and escalator grew at a CAGR of …% from 2009 to 2014.

China is the largest market in Asia-Pacific region with its total elevator and escalator installed base accelerating at …% CAGR from 2000 to 2014, providing growth opportunity for maintenance market. In consideration to maintenance of E&E the concerned authorities of China are increasingly focused on tightening regulations.

Global E&E New Equipment Market (2009-2014)

Global E&E Installed Base (2009-2014)

Chinese E&E Installed Base (2000, 2009-2014E)

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The Middle East and Africa region lack the availability of skilled workforce.

In 2014, Otis dominated the industry with …% of the market share, immediately followed by Schindler with …% share. KONE accounts for …% of the market share. ThyssenKrupp accounts for …% of market share but accounts for …% of market share in global elevator market alone.

In 2014, the global E&E maintenance market is estimated to be much more fragmented with as many small third-party players. Otis continues to lead with …% of the market share, followed by Schindler with …% share.

Otis makes up …% of the market share. Kone along with Giant Kone, a subsidiary of Kone in China, makes up …% of the total market. ThyssenKrupp and Schindler make up …% and …% of share. Japanese players- Mitsubishi, Hitachi and Fujitec- have …%, …% and …% of market share respectively.

Global E&E Maintenance Market Share by Company (2014E)

Global E&E Market Value Share by Company (2014)

Chinese E&E Market Share by Company by Volume (2014E)

Otis Schindler Kone

Thyssen Hitachi Fujitec

Shanghai Mitsibishi Others

Otis Schindler Thyssen Kone Others

Otis Mitsubishi Kone Hitachi Thyssen

Fujitec Giant Kone Schindler Yungtai Others

The demand for energy efficient solutions in E&E industry is driven by voluntary sustainability ratings and national green building ratings.

• The elevator and escalator market is expected to continue to grow further in 2015 as well and in future also. China will remain the dominant market in new equipment segment despite lower growth expectations for the Chinese economy as a whole. Besides China, India is expected to grow rapidly in near future. The US new equipment market is expected to grow further while weak demand for new elevators and escalators are likely to continue in Europe. The global elevator and escalator market value is forecasted to reach US$... billion in 2015, an increase of …% from US$... billion in 2014. The global market is expected to grow at a CAGR of …% from 2014 to 2018, reaching US$... billion by 2018.

• In elevator and escalator new equipment market segment, Asia-Pacific is expected to dominate in 2015, with most of the demand coming from China. In the Europe, Middle East and Africa region, the market will be at same level. In Central and North Europe, the market is expected to grow slightly while it will remain weak in South Europe in 2015.

• The modernization market on the other hand is expected to remain stable in Europe as prior year, but might grow in North America and Asia-Pacific in 2015. This will increase the global modernization markets as a whole. The maintenance market is also estimated to grow across all segments of all countries in 2015.

Global E&E Market Value Forecast (2013-2018F)

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