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1 Market Overview
1.1 Definition and presentation
An elevator is a mobile device for moving people or objects along a predefined axis within a vertical structure. Elevators can be installed for two main uses: on the one hand, use on a small number of floors in public areas such as subway stations, train stations, and stores. This use faces competition from escalators, which in turn allow faster flow by reducing waiting times. On the other hand, elevators can be used where there are a large number of floors in residential and office buildings or high-rise buildings, as well as in parking lots, hotels, and hospitals. This use has less competition than escalators, since the elevator is faster (speed proportional to the height of the building) and can generally carry a large number of people.
In 2023 the global elevator market is estimated at 54.1 billion dollars. A compound annual growth rate (CAGR) of 5.35% is projected for the period 2023-2032, under which the world elevator market could reach a total value of more than 86 billion dollars.In 2022, China is by far the world's largest exporter of elevators. In the year analyzed, the country exported elevators with a total value of $1.69 billion. Also in 2022, the United Kingdom is the world's largest importer of elevators. In the year analyzed, the value of the country's imports was $376.8 million.
This study focuses on the specific market of elevators Italy, analyzing consumption trends, competitive dynamics and growth prospects of the industry. For information on related markets, see the specific studies available in the Businesscoot catalog.
1.2 The global market
In ****, the world elevator market is estimated at $**.* billion. A compound annual growth rate (***) of *.**% is projected for the period ****-****, under which the world elevator market could reach a total value of more than $** billion at the end of the period. Elevator Market World, ****-****, in billions of dollars Marketresearchfuture China ...
1.3 The Italian market
to analyze the Italian elevator market, trends in the value of production sold of elevators and hoists and trends in total turnover related to enterprises under Ateco Code **.** "Manufacture of lifting and handling machinery and apparatus" are analyzed.
Regarding the first aspect, between **** and **** the value of production sold of elevators ...
1.4 The trade balance of the elevator market
HS Code ****** "Elevators and hoists" is considered for the analysis of outbound and inbound trade flows related to elevators. Italy's trade position falls into the category of net exporter: between **** and ****, the export coverage ratio, determined by the ratio of exports to imports molit multiplied by ***, fluctuated between ***% and ****.*%. Specifically, during ...
1.5 The consequences of the Russian-Ukrainian conflict
The outbreak of the Russian-Ukrainian conflict in February **** led to, among other things, a general increase in price indexes. The sector related to the manufacture of lifting and handling machinery and equipment is not exempt from this increase. Between January **** and December ****, the producer price index rose from ***.* points to ***.* points, ...
2 Demand analysis
2.1 Demand in Italy
In order to analyze the demand for elevators in Italy, trends in the number of installed systems and trends in the number of new residential and nonresidential buildings are analyzed.
Regarding the first point, in **** Italy is the second largest European country in terms of the number of elevators installed, amounting ...
2.2 Demand drivers
For the analysis of demand drivers, the age of elevators in operation in Italy in **** and the evolution of the over-** population, the main segment of elevator demand in the residential real estate sector, are analyzed.
Regarding the first aspect, the average age of elevators in **** is shown to be very ...
2.3 Geographical distribution of demand
In order to visualize the geographical distribution of demand, two maps were created with the geographical distribution of new residential and nonresidential buildings built in Italy in ****.
As for residential properties, **.* percent of the **,*** new buildings are concentrated in the Northwest of the peninsula; in the Northeast the share is **.* percent. ...
2.4 New demand trends: energy conservation
Energy-efficient elevators are a growing trend in the elevator industry in response to increased consumer awareness of energy efficiency and environmental impact. These modern elevators feature innovative technologies that significantly reduce energy consumption compared to traditional models. One of the recent developments in this area is the introduction of next-generation control ...
3 Market structure
3.1 The market structure
For the analysis of the structure of the elevator market in Italy, enterprises under Ateco Code **.**.* "Manufacture of lifting and handling machinery and equipment" are considered. In particular, the number of active enterprises, the number of employees in active enterprises and the legal form of different activities are analyzed.
Number of ...
3.2 The value chain
The value chain in the elevator market can be detailed as follows
Research and development (***): innovations for safety, energy efficiency, and design. Design and engineering: creating technical drawings and specifications for each project. Material procurement: purchasing components such as motors, cables, and control panels. Manufacturing and assembly: construction of elevators, with ...
3.3 The main manufacturers
A list of the main players active in the production of elevators and freight elevators in Italy is offered below:
Kone s.p.a: founded in ****, is a leading global company in the field of elevators, escalators and automatic doors. Its mission is to improve urban flow through innovative and sustainable ...
3.4 Installation, repair and maintenance
The following is a proposed list of major players active in the installation, repair and maintenance of elevators and escalators:
Otis Servizi s.r.l: part of the U.S. giant OTIS and founded in ****, specializes in services related to elevator systems, including installation, maintenance and repair of elevators and escalators. ...
4 Supply analysis
4.1 Type of the offer
In today's market, there is a wide range of elevators, each designed to meet specific needs. These types vary in technology, capacity, speed, and application. Knowing the different types of elevators, such as traction, hydraulic, pneumatic, and many others, is crucial to choosing the most suitable solution depending on the building ...
4.2 The prices
The average price for some elevator types (***) is proposed below:
Indoor elevators
(***)
Outdoor elevators
(***)
4.3 New supply trends: Internet of Things
IoT (***)
In ****, the global IoT market for elevators reached a total value of $**.** billion. Sustained growth in the industry is expected in the near future through a compound annual growth rate (***) of **.**%. By ****, the global IoT market for elevators could reach a value of more than $** billion.
IoT market for elevators World, ...
5 Regulations
5.1 The legislation
The manufacture, installation and maintenance of elevators and elevators are subject to both European and national regulations. The legislative framework that is outlined is aimed at ensuring the safety and proper operation of the systems. Some of the main legislative aspects are:
Directive ****/**/EU: for the harmonization of the laws of ...
5.2 The architectural barriers bonus
The Budget Law **** of December ****, introduced important changes regarding tax breaks for the removal of architectural barriers. TheLift Bonus ****, is valid in **** and has been extended until ****, allowing a **% deduction on expenses for the installation of systems aimed at eliminating obstacles to mobility, as specified below, facilitating access to people with ...
6 Positioning of actors
6.1 Segmentation
- Kone s.p.a
- Schindler s.p.a
- Otis Servizi s.r.l
- TK Elevator Italia s.p.a
- Montanari Giulio & C. s.r.l
- E.P Elevatori Premontati s.r.l
- Del Bo s.p.a
- C.M.A Costruzioni Montacarichi ed Ascensori s.r.l
List of charts presented in this market study
- Elevator market
- Major exporting countries of elevators and hoists
- Main importing countries for elevators and hoists
- Installed elevators, breakdown by country
- Active enterprises under Ateco Code 28.22.0 "Manufacture of lifting and handling machinery and equipment"
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