Wilmington, Delaware, United States, Aug. 08, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global market for solar powered elevator was estimated to have reached a market valuation around US$ 4.7 billion in 2022. The market is likely to garner a steady 5.8% CAGR from 2023 to 2031 and by 2031, the market is likely to gain US$ 7.7 billion.
The rapid expansion of building projects throughout the world, particularly in developing nations like India, Australia, and many other Southeast Asian nations, is anticipated to boost the market for solar-powered elevators over the coming few years. Sun-powered vertical transport, which also serves as a means of transportation in daily life, has grown to be a significant component of the building industry.
Download Sample PDF Brochure of Solar Powered Elevator Market Study at: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=61092
Global Solar Powered Elevator Market: Key Players
Some of the key players in the global solar powered elevator market are:
- Asian Elevators Control & Automation
- Cube Elevators
- Gravo Elevators
- KONE Corporation
- Mezolift Company
- Otis Elevator Company
- Pneumatic Vacuum Elevators, LLC
- Schindler
- SELE Srl
- ThyssenKrupp AG
Some developments by the key players in the global market for solar powered elevator are:
- The Nippon Otis Elevator Company Logistics and Engineering Center (NOLEC) parking lot received solar panels from Otis in April 2023. The panels, which have a total surface area of 2672.47 m2, are located there. About 21% of NOLEC's yearly power demand is anticipated to be covered by the solar panels' electricity production.
- Schindler revealed in February 2022 that it would provide 136 elevators and 272 escalators to support the Cairo Monorail project, which would link East Cairo with the country's future capital. The 129 high-rise elevators for six office skyscrapers now under construction are expected to be delivered and installed by the business.
Utilizing solar-powered elevators might significantly reduce the energy consumption and environmental effect of vertical systems of transportation. These elevators are extremely energy-efficient and cost-effective since they are designed to reuse energy. Vertical transportation using regenerative solar lifts could be safe, dependable, and eco-friendly.
In the near future, it is anticipated that increased attention to sustainability in the building industry would accelerate market expansion. A system that uses solar energy as well as optimizes power usage is being used by major participants in the worldwide solar powered elevator sector to deliver speed, capacity, and dependability in solar powered elevators. They are spending money on R&D to advance technology and performance to support the expansion of the solar powered elevator industry throughout the projected future.
Key Findings of the Market Report
- The rapid expansion of building projects throughout the world, particularly in developing nations like India, Australia, and many other Southeast Asian nations, is anticipated to boost the market for solar-powered elevators over the coming few years.
- The market is progressing thanks to sector expansion in the building industry.
- From 2023 to 2031, North America is anticipated to have the biggest share, followed by Asia Pacific.
Global Market for Solar Powered Elevators: Key Trends
- The building's energy consumption and carbon impact are reduced by regenerative solar powered elevator systems since they operate off the grid. They also provide building occupants with a relaxing and easy experience. The market value of solar-powered elevators is being driven by the building industry's increased emphasis on sustainability.
- Elevators that use solar power are created to be as energy-efficient as possible while yet offering a comfortable and safe ride. They also fulfill dependability, capacity, as well as speed performance criteria. With regard to both initial installation costs as well as continuing maintenance and operating expenses, regenerative solar-powered elevator systems are economical.
Get Exclusive Discount on Solar Powered Elevators Market at: https://www.transparencymarketresearch.com/sample/sample.php?flag=D&rep_id=61092
Global Solar Powered Elevator Market: Regional Outlook
- From 2023 to 2031, North America is anticipated to have the biggest share, next to Asia Pacific. The region's market income is being driven by a rise in the use of sources of clean energy and rising investments in solar power facilities.
- Market figures for Asia Pacific and Europe are being driven by a rise in interest in solar technology and a rise in worries about emissions of greenhouse gasses and air pollution.
Global Solar Powered Elevator Market Segmentation
- By Product Type
- Traction Elevators
- Geared Traction
- Gearless Traction
- Machine Room-less Elevators
- Vacuum Home Elevators
- Traction Elevators
- By Category
- Smart
- Conventional
- By Price
- Low
- Medium
- High
- By Application
- Passengers
- Cargo
- By End-Use
- Residential
- Commercial
- Shopping Malls
- Offices
- Hospitals
- Others (Schools & Colleges)
- Industrial
- By Distribution Channel
- Direct Sales
- Indirect Sales
- Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
Procure Complete Report (160 Pages PDF with Insights, Charts, Tables, and Figures) https://www.transparencymarketresearch.com/checkout.php?rep_id=61092<ype=S
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
Contact:
Nikhil Sawlani
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Blog: https://tmrblog.com
Email: sales@transparencymarketresearch.com
