Abstract
Global value demand to grow 5.4% annually through 2011
The worldwide market for elevator and escalator products and services is
forecast to expand 5.4 percent annually through 2011, surpassing $57 billion.
Demand will be fueled by a strong global economy, firming nonresidential
construction in key developed markets, and the ongoing migration from rural to
urban centers in major developing markets such as China and India. On the
service side, retrofits to comply with changing building codes and federal
mandates will rejuvenate the upgrade/modernization services market, especially
in Western Europe and North America.
The fastest growth is anticipated in the world' s developing regions -- Asia,
Latin America, Eastern Europe, Africa and the Middle East. China, which has
already emerged as the largest national elevator market in unit terms, will
continue to log explosive gains, with the development of a lucrative service
aftermarket bolstering the robust OEM business.
China, India, Russia to see fastest gains for elevators
In unit terms, demand for passenger and freight elevators will advance 5.2
percent annually to 535,000 units in 2011, which will swell the global
installed base to over ten million units. Fully one-third of all units
installed over the next five years will be situated in China; India, Russia
and the Gulf region also hold especially favorable intermediate-term
prospects. By contrast, unit gains in North America and Western Europe will be
limited by a cooling housing market and comparison with a strong 2006 base.
Price inflation will moderate, despite high energy and material costs,
reflecting increasingly stiff competition in the fast growing machineroomless
(MRL) elevator segment and greater reliance on manufacturing in low cost
venues such as China and Eastern Europe.
Study coverage
It presents historical demand data (1996, 2001 and 2006) plus forecasts for
2011 and 2016 by type (elevators, escalators, moving walkways, installation,
repair); by market, by world region and for 15 countries. The study also
considers market environment factors, evaluates market share and profiles 17
global industry players.
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