Global elevator modernization market will reach $14.8 billion by 2026, growing by 5.1% annually over 2020-2026 owing to the rising need for upgrading elevators across the globe.

Highlighted with 85 tables and 80 figures, this 160-page report “Global Elevator Modernization Market 2020-2026 by Modernization Type (Partial, Full), Elevator Type (Hydraulic, Traction), Component, Application (Industrial, Residential, Commercial), and Region: Trend Forecast and Growth Opportunity” is based on a comprehensive research of the entire global 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 2015-2019 and provides forecast from 2020 till 2026 with 2019 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 identification and investigation of the following aspects:

• Market Structure 

• Growth Drivers 

• Restraints and Challenges

• Emerging Product Trends & Market Opportunities

• Porter’s Fiver Forces

The trend and outlook of global market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19. The balanced (most likely) projection is used to quantify global elevator modernization market in every aspect of the classification from perspectives of Modernization Type, Elevator Type, Component, Application, and Region. 

Based on Modernization Type, the global market is segmented into the following sub-markets with annual revenue for 2015-2026 included in each section. 

• Full Modernization

• Partial Modernization

Based on Elevator Type, the global market is segmented into the following sub-markets with annual revenue for 2015-2026 included in each section. 

Hydraulic Elevators

• Conventional Hydraulic Elevators

• Hole-less Hydraulic Elevators

• Roped Hydraulic Elevators

Traction Elevators

• Geared Traction Elevators

• Gear-less Traction Elevators

• Machine Room-Less Elevators

Climbing Elevators

Pneumatic/Vacuum Elevators

Based on Component, the global market is segmented into the following sub-markets with annual revenue for 2015-2026 included in each section. 

Power Units

Cabin Enclosures

Controllers

• Relay based

• Solid state

• PLC

Signaling Fixtures

Door Equipment

Other Components

Based on Application, the global market is segmented into the following sub-markets with annual revenue for 2015-2026 included in each section. 

• Industrial Application

• Residential Application

• Commercial Application

Geographically, the following regions together with the listed national/local markets are fully investigated:

• APAC (Japan, China, South Korea, Australia, India, and Rest of APAC; Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)

• Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, The Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)

• North America (U.S., Canada, and Mexico)

• South America (Brazil, Chile, Argentina, Rest of South America)

• RoW (Saudi Arabia, UAE, Egypt)

For each aforementioned region and country, detailed analysis and data for annual revenue are available for 2015-2026. The breakdown of all regional markets by country and split of key national markets by Elevator Type, Component, and Application over the forecast years are also included.

The report also covers current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players.

Specifically, potential risks associated with investing in global elevator modernization market are assayed quantitatively and qualitatively through GMD’s Risk Assessment System. According to the risk analysis and evaluation, Critical Success Factors (CSFs) are generated as a guidance to help investors & stockholders identify emerging opportunities, manage and minimize the risks, develop appropriate business models, and make wise strategies and decisions.

Key Players (this may not be a complete list and extra companies can be added upon request): 

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.)