The African Elevators and Escalators Market is expected to grow at a CAGR of 5.05% during the research period. Key growth reasons include infrastructure development, rising urbanization and concentration of people in cities, adoption of Western-style structures and facilities, and the development of green and sustainable building solutions.
Schindler, Otis, KONE, Hyundai, and Thyssenkrupp control a sizable percentage of the market, while the vast ""Others"" category reveals continuous prospects for expansion and rivalry.
South Africa has the greatest market share in 2024 and is expected to maintain its dominance throughout the projected period. In terms of elevator product type, passenger elevators have the biggest market share and are predicted to continue this trend by 2030. Belt style escalators are projected to develop at the fastest rate, with a CAGR of 8.07%.
Marketing Segmentation
Elevators and Escalators market was split based on products.
The Elevators portion is further divided into Passenger Elevators, Freight Elevators, Home Elevators, Dumbwaiters, and Others. Escalators include both step and belt type escalators.
The elevator market is divided into three categories based on speed: low-speed (up to 1m/s), mid-speed (1-2m/s), and high-speed (beyond 2.5m/s).
• Escalators include low-speed (up to 0.5m/s), mid-speed (0.5m/s-0.65m/s), and high-speed (beyond 0.65m/s).
The market is categorized by technology as follows:
Elevators • Traction • Geared Traction • Gearless Traction • Hydraulic Traction • Conventional Hydraulic • Hole-less Hydraulic • Roped Hydraulic • Other
o Pneumatic/vacuum
• Escalators: Chain Drive or Direct Drive.
The market is split by application, including residential, commercial, shopping malls, retail stores, hotels and restaurants, exhibition centers, and others.
• Public transportation options include train and metro stations, bus terminals, airports, hospitals, educational institutions, government buildings, and others.
• Industrial facilities, including factories, warehouses, and distribution centers.
Major Players
The market's top players are Otis Elevator Company, Schindler Group, KONE Corporation, Mitsubishi Electric Corporation, Hitachi Elevator, Hyundai Elevator, and Fujitec Co., Ltd.
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