Chicago, July 25, 2022 (GLOBE NEWSWIRE) -- According to Arizton’s latest research report, the France elevator and escalator market is expected to grow at a CAGR of 4% during 2022-2028. Escalator and elevator modernization market in France accounted for $215.2 million in 2021 and is forecasted to reach $267.5 million in 2028. Over 50% of the elevator and escalator in Europe is older than 20 years, and elevators in Europe are among the oldest in the world. Hence, the ageing of elevators and escalators especially most old ones is boosting the demand for modernization.
France Elevator and Escalator Market Report Scope
| Report Attributes | Details | |
| MARKET SIZE BY NEW INSTALLATIONS (2028) | 26.7 THOUSAND UNITS | |
| MARKET SIZE BY NEW INSTALLATIONS (2021) | 35.1 THOUSAND UNITS | |
| CAGR (2021-2028) | 4% | |
| MARKET SIZE BY INSTALLED BASE (2028 | 742.9 THOUSAND UNITS | |
| MARKET SIZE BY MODERNIZATION (2028) | USD 287.5 Million | |
| BASE YEAR | 2021 | |
| FORECAST YEAR | 2022-2028 | |
| MARKET SEGMENTATION BY CARRAIGE TYPE | Passenger and Freight | |
| MARKET SEGMENTATION BY CAPACITY | 2-15 Persons, 16-24 Persons, 25-33 Persons, and 34 Persons and Above | |
| MARKET SEGMENTATION BY END-USER | Commercial, Residential, Industrial, and Others | |
| MARKET SEGMENTATION BY TYPE | Hydraulic and Pneumatic, Machine Room Traction, Machine Room Less Traction, and Others | |
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Key Highlight
- France Elevator & Escalator market by new installations is growing at a CAGR of 3.98% during the forecast period (2022-2028). The steadily increasing urban population in France impacts the real estate, urban development, and housing sectors which are major driving factors for vertical transportation market.
- The interest of investors is increasing in the housing market in France where the government is attempting to alleviate a scarcity of space through policies. For instance, Hines has purchased a 30,000 square meter portfolio of eight prime sites in France, including Paris and significant regional cities, to create a series of Build to Rent residential schemes. Five great locations in Paris and three regional cities in France will give 500 units of high-quality living space.
- Supertall skyscraper developments are underway in France. The construction of The Link (244 m), Trinity, Alto (160 m), M2, Hekla, Sisters, Air 2, and Hermitage is going on. As a result, the demand for traction elevators is expected to rise as more skyscrapers are being constructed.
- Property owners are generally eager to raise the value of their properties in the busiest and older cities in countries, such as Germany, France, and Spain. . Safety, on the other hand, is a major driver of modernization. The European Committee for Standardization has updated its standard for new lifts by creating EN-80 the primary safety norm for existing lifts. This obligatory project across Europe, which is frequently seen as a benchmark outside of Europe, attempts to improve the safety of current elevators. Customers who are willing to pay for modernization are clearly reliant on it.
- OEMs aspire to provide creative, energy-efficient, and cost-effective solutions to their customers. They also aspire to promote activities that mitigate their own negative environmental consequences. In terms of equipment, contemporary volume elevators by KONE are up to 90% more energy-efficient than its elevators from the 1990s.
- The key players in France Elevator & Escalator market are Mitsubishi Electric, Hitachi, Toshiba Otis, KONE, TK Elevator, Schindler,Kohler, Hyundai Elevator. Top four prominent vendors including Otis, KONE, Schindler and TKE account for 80% of market share in France.
WHY SHOULD YOU BUY THIS REPORT?
This report is among the few in the market that offers an outlook and opportunity analysis forecast in terms of:
- Volume (Unit sales)
- Type
- Application
- Value (USD)
- Type
- Application
- Gain competitive intelligence about the economic scenario, advantages in France's major projects and investments, dynamics, and market share.
- Examples of the latest technologies.
- Get presentation-ready format and easy-to-interpret data.
- Enable decision-makers to make informed and profitable choices
- Gain expert quantitative and qualitative analysis on value/volume growth projections of the France elevator and escalator market share
- Complete supply chain analysis
- Get COVID-19 impact analysis of the market
- Company Profile of vendors and distributors
Key Vendors
- OTIS
- Kone
- Schindler
- TK Elevator
- Hitachi
- Hyundai Elevator
- Fujitec
- Toshiba
- Mitsubishi Electric
- Kohler
Other Prominent Vendors
- Stannah
- Orona
- Cibes Lift Group
- AKE Elevator
- KLEEMANN Aufzuge GmbH
Type
- Hydraulic and Pneumatic
- Machine Room Traction
- Machine Room Less Traction
- Others
carriage Type
- Passenger
- Freight
Person
- 2-15
- 16-24
- 25-33
- 34 and Above
End-User
- Commercial
- Residential
- Industrial
- Others
Explore our industrial machinery profile to know more about the industry.
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