Chicago, April 26, 2022 (GLOBE NEWSWIRE) -- According to the latest research report by Arizton, the UK elevators & escalators market growing at a CAGR of 4.7% during 2022-2028. In 2021, the modernization segment of the UK elevators and escalators market accounted for a revenue share of $135.9 million, which is expected to grow at a CAGR of 3.05% to reach $167.7 million in 2028.
UK Elevators & Escalators Market Report Scope
| REPORT ATTRIBUTES | DETAILS | |
| MARKET SIZE BY NEW INSTALLATIONS (2028) | 12.8 thousand units | |
| MARKET SIZE BY NEW INSTALLATIONS (2021) | 9.3 thousand units | |
| CAGR (2021-2028) | 4.7% | |
| MARKET SIZE BY INSTALLED BASE (2028) | 451,551 Units | |
| MARKET SIZE BY MODERNIZATION (2028) | $167 Million | |
| HISTORIC YEAR | 2019-2020 | |
| BASE YEAR | 2021 | |
| FORECAST YEAR | 2022-2028 | |
| MACHINE TYPE | Hydraulic and Pneumatic, Machine Room Traction, Machine Room Less Traction, and Others | |
| CARRAIGE TYPE | Passenger and Freight | |
| CAPACITY | Person (2-15, 16-24, 25-33, and 34 and above) | |
| END-USER | Commercial, Residential, Industrial and Others | |
Click Here to Download the Free Sample Report
Presence Of Multi-Story Buildings And Upcoming Skyscraper Projects
In recent years, the construction of high-rise buildings has increased considerably in the UK with a rise in both the height and number of buildings. The pipeline of high-rise buildings across the country is strong with around 549 buildings in the development pipeline, of which, around 58% are in London. The construction projects in London account for more than three-quarters of the total pipeline value.
The UK has just 33 high-rise buildings that exceed a height of 150 meters. The construction of almost half of these buildings was completed by 2018. The Shard in London is the only building in the country that exceeds 300 meters. According to the Council on Tall Buildings and Urban Habitat, the UK has the 3rd tallest buildings in Europe and the 22nd tallest buildings worldwide based on the number of buildings with an elevation of 150 meters and above.
Surge in Number of Visitors at Commercial Establishments to Drive Demand for Escalators
Escalators are commonly installed in buildings that require the constant movement of many people. For instance, commercial establishments such as shopping centers, airports, transit systems, exhibition halls, hotels, arenas, and public buildings receive large numbers of visitors daily, and therefore, rely on escalators to transport them to different levels or floors. According to the World Bank, by 2060, the population across the UK will rise by 25% from a little over 61 million to almost 77 million. Thus, the surge in the country’s urban population will result in congestion, particularly in the commercial sector. Escalators occupy the same physical space as a staircase and have no waiting time (other than during periods of congestion), which ensures a greater flow of people. People can also walk up or down escalators if they are in a hurry or if the equipment breaks down.
Key Offerings
- Market Size & Forecast by Revenue | 2022−2028
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis of product type, carriage type, persons, and end-users
- Competitive Landscape – 10 key vendors and 8 other prominent vendors
Recent Development
- In April 2021, KONE received an order to supply a suite of People Flow solutions, including 15 custom-made KONE elevators and escalators, for the new Arbor office building at Western Yards, phase one of the Bankside Yards mixed-use development in London.
- In 2020, Fujitec invested $350 million in R&D initiatives. The bulk of this fund was used in the development of new products.
- In January 2021, Schindler launched its ElevateMe application, which allows passengers to call an elevator and choose the destination floor using a smartphone without the need to touch any buttons outside or within the elevator car.
To know more about the report, click: https://www.arizton.com/market-reports/uk-elevator-and-escalator-market
UK Elevators & Escalators Market Competitive Landscape
Key Vendors
- KONE
- Mitsubishi Electric
- TK Elevator
- Hitachi
- Hyundai Elevator
- Otis
- Fujitec
- Schindler
- Titan Elevators
- UK Lift and Escalator
Other Prominent Vendors
- Stannah Lifts Holdings Ltd
- SJEC
- STANNAH LIFTS HOLDINGS LTD.
- AKE ELEVATOR
- KLEEMANN Aufzüge GmbH
- ORONA
- MORRIS VERMAPORT
- PICKERINGS LIFTS
Explore our industrial machinery profile to know more about the industry.
Click Here to Download the Free Sample Report
Read Some of the Top-Selling Reports:
- Elevator and Escalator Market - Global Outlook and Forecast 2019-2024
- Stair Lift Market - Global Outlook and Forecast 2020-2025
- China Elevator and Escalator - Market Size & Growth Forecast 2022-2028
- Indonesia Elevator & Escalator - Market Size & Forecast 2022-2028
About Arizton:
Arizton Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare, and life sciences, industrial machinery, chemicals, and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.
Arizton comprises a team of exuberant and well-experienced analysts who have mastered in generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.
Call: +1-312-235-2040
+1 302 469 0707
