Elevator and Escalator Market in Germany 2017-2021
About Elevator and Escalator
Elevators and escalators are vertical transportation devices that help move people and goods easily and efficiently within a building. An elevator is a type of vertical transport equipment that efficiently moves passengers or goods between stories of a building, vessel, and other structures. Electric motors power these elevators. An escalator is a moving staircase or a conveyor transport equipment that moves passengers between stories of a building. Escalators include moving stairways and moving walkways. They include moving stairways and moving walkways. They are installed in commercial buildings, residential buildings, mixed-use buildings, education buildings, public transportation, healthcare, IT parks, hotels, restaurants, and retail outlets. They are also installed in parking areas to optimize the use of space.
Technavio’s analysts forecast the elevator and escalator market in Germany to grow at a CAGR of 5.26% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the elevator and escalator market in Germany for 2017-2021. To calculate the market size, the report considers the new installations, modernization, and maintenance services market.Technavio's report, Elevator and Escalator Market in Germany 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Elevator and Escalator Market in Germany 2017-2021
Technavio recognizes the following companies as the key players in the elevator and escalator market in Germany: KONE, Schindler, Otis Elevator, thyssenkrupp Aufzüge, and Schmitt + Sohn.
Other Prominent Vendors in the market are: 4E ENTERPRISE ELEVATOR & ESCALATOR, ENGINEERING, AAE Aufzugs-Anlagen-Engineering, A.R.G. (Schweiz), AS Aufzug + Service (AS Elevator + Service), Aufzug & Autoparksysteme Berlin, Brobeil Aufzüge, Friedrich Daniels, Fuji Electric, Fujitec, KOHLER Elevator, LUTZ Elevators, Mayland Aufzüge, Nunn Aufzuge, Omega Lifts, and Wittur.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is adoption of advanced materials for ropes. A variety of roping systems can be employed depending on the conditions of each installation (machine positioning, rated load and speed, and available space among others). Energy-efficient initiatives have led to innovations in the rope technology. Manufacturers are reducing the weight of the sheave, pulleys, and steel cable, as they have a significant effect on the energy consumption of lifts. The weight of ropes is becoming an increasingly important concern as building heights increase rapidly. Rope weight increases rather exponentially with height and can reach 50 to 70 tons to move just a few passengers in a high‐rise building.”
According to the report, one of the major drivers for this market is increasing adoption of energy-efficient elevators and escalators. As comfort requirements have increased, energy consumption in buildings has undergone a significant increase, which is one of the leading causes of CO₂ emissions. As per EUROPA, buildings in the European Union (EU) are responsible for approximately 40% of the total energy consumption and 36% of CO₂ emissions. Elevators and escalators are estimated to account for 1%-2% of the building energy in Germany.
Further, the report states that one of the major factors hindering the growth of this market is economic profitability of investments in energy-efficient systems. Most office supervisors look first to the lighting, warming, and cooling frameworks before reducing the energy use in their structures. This is considered a justifiable approach, as these frameworks together record for more than half of the energy utilized by buildings. Elevators represent a much smaller size of buildings energy utilization as most elevators are almost 20 years old and can be improved to save up to 50% of electricity through utilization of superior drives. Changing energy prices may affect the economic profitability of investments in energy‐efficient technology. This is a reason for the market reluctant to invest in energy‐efficient lifts and escalators.
KONE, Schindler, Otis Elevator, thyssenkrupp Aufzüge, Schmitt + Sohn, 4E ENTERPRISE ELEVATOR & ESCALATOR, ENGINEERING, AAE Aufzugs-Anlagen-Engineering, A.R.G. (Schweiz), AS Aufzug + Service (AS Elevator + Service), Aufzug & Autoparksysteme Berlin, Brobeil Aufzüge, Friedrich Daniels, Fuji Electric, Fujitec, KOHLER Elevator, LUTZ Elevators, Mayland Aufzüge, Nunn Aufzuge, Omega Lifts, and Wittur.
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