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Global Energy Efficient Elevators Market 2021 analysis with Key Players, Applications, Trends and Forecasts

Energy Efficient Elevators

Energy Efficient Elevators Market” report provides strategic supports mentioned by the business specialists with market sources, amount of manufacturing cost structure, raw materials, forecasts, turnover, manufacturing outlays, latest market trends, labor cost, demands and much more. Energy Efficient Elevators market report covers a comprehensive market structure through the globe with an in-depth study of major dynamics (Drivers, Challenges, Opportunities).  

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Key Market Trends:

Green Buildings to Drive the Market Growth

– An industrial sector uses more energy than any other end-use sectors. Elevators are the crucial element that makes it practical to live and work several floors above ground. Due to the increasing comfort requirements through elevator, energy consumption in industrial sector such as in construction sector, it is increasing, being one of the leading reasons for a growing amount of CO2 emissions.
– The demand for energy efficient products and greener buildings has grown in the last few years and rising electricity prices have also been a major contribution to the demand for more energy efficient solutions.
– Elevators use a relatively small amount of energy compared to the overall energy consumption of a building. At the same time, elevators provide both daily carrier service for passengers and contribute to the user’s experience with the building, and so they should be included in sustainability planning. As such, many architects, building owners and managers are incorporating green elevator strategies such as Traction Elevators, Regenerative Drives, etc.
– The biggest energy-saving innovation in elevator design is the traction elevator, which is up to 75% more energy efficient than traditional hydraulic elevator. This results in a much more efficient system and does not require oil and other toxic pollutants.
– Machine Room-Less (MRL) elevators, which uses gearless machines located in the elevator hoistway creates the opportunity to avoid the need for an elevator machine room thereby increasing flexibility in design and reducing square footage requirements, materials, and related costs. The same resources can be used efficiently in a sustainable way, which can help in the growth of overall market.
– Otis Elevator Company offers additional energy savings in its state-of-the-art Gen2 MRL elevator. They also compacted the controller and moved it into the hoistway, eliminating the need for a separate control room, which reduces overall energy consumptions.

to Record a Significant Growth Rate Over the Forecast Period

– The an energy-efficient elevators is fuelled by the growing demand for modernization of buildings and increase in the construction activity. According to the Institute of Energy Economics and the Rational Use Of Energy, around 75% of the current energy generation capacity is expected to be replaced by 2030, which is definitely a driving factor for the energy-efficient solutions.
– Residential and industrial sectors are consuming greater part in the overall energy generation in . In addition, changing lifestyles is a factor that is demanding for more comfort in buildings, which, in turn, is increasing the energy consumption rate. National energy agencies can play a major role to improve awareness towards the selection and proper operation of energy-efficient lift and escalator systems.

Market Overview:

  • The global energy efficient elevators market is expected to record a CAGR of about 15.14% during the forecast period (2019-2024). With the help of cross-industry innovation, elevator suppliers are developing cable-free elevators that can move both vertically and horizontally. These elevators are typically made of carbon fiber-reinforced plastic and are powered by linear motors that can move cabs up and down, forward and backward, and left or right on magnetic rails. Cable-free elevators are energy efficient and reduce carbon footprint impacts dramatically. Also the integration of connectivity technology and internet features into lifts is a key ongoing trend, which offers enhanced security, energy efficiency, and alerts related to repair schedules.
  • – Due to increasing demand for energy efficient systems, energy-efficient elevators market is expected to grow considerably, over the coming years, owing to the growing need for commercial energy management systems and residential energy management systems. ThyssenKrupp Elevator Company installed 73 elevators in the World Trade Center, New York, along with the energy management software and controls to monitor and reduce the energy consumption.
  • – Due to mounting electricity prices, especially in high-traffic applications, various advanced technology is being driven such as, destination dispatching & access control systems to reduce the energy consumption.
  • – The major restraints of energy efficient elevators market are lack of information and awareness of the actual electricity consumption of elevator systems, lack of information and awareness of the energy efficient technologies in the market and low state of knowledge on the economic efficiency of the technological measures.

    Key Manufacturers Like 

  • Hitachi Ltd.
  • Mitsubishi Electric Corporation
  • Fujitec Co., Ltd.
  • KONE
  • Schindler group
  • OTIS Elevator Company
  • Hyundai elevators co., Ltd.
  • Thyssen Elevators Co., Ltd.
  • Honeywell international.

    Scope of the Report:

  • The global Energy Efficient Elevators industry is influenced today by increased demand in emerging markets and widening applications. A traction elevator travels up and down on a steel rope, which has a counterweight on the other end and are more energy-efficient than hydraulic hoists. By replacing outdated hardware and investing in some of the sophisticated software building owners can make immediate and substantial energy savings.<

    Energy Efficient Elevators market report focuses on the latest trends in the global and regional spaces on all the significant components, including the capacity, cost, price, technology, supplies, production, profit, and competition. Moreover, the old data and present development of the Energy Efficient Elevators market have been given in the scope of the report. The latest trends, product portfolio, demographics, geographical segmentation, and regulatory framework of the Energy Efficient Elevators market have also been involved in the study.

    Market Dynamics: –

    • Drivers: (Developing regions and growing markets)
    • Limitations: (Regional, Key Player facing Issues, Future Barriers for growth)
    • Opportunities: (Regional, Growth Rate, Competitive, Consumption)

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    Key Questions Answered in Market Report: –

    • What will the market growth rate, Overview and Analysis by Type of Energy Efficient Elevators market in 2023?
    • What are the key factors driving, Analysis by Applications and Countries Energy Efficient Elevators market?
    • What are Dynamics, This Overview Includes Analysis of Scope, and price analysis of top Vendors Profiles of Energy Efficient Elevators ?
    • Who are Opportunities, Risk and Driving Force of Energy Efficient Elevators market? Knows Upstream Raw Materials Sourcing and Downstream Buyers
    • Who are the opportunities and threats faced by the vendors in Energy Efficient Elevators space? Business Overview by Type, Applications, Gross Margin and Market Share
    • What are the Energy Efficient Elevators market opportunities, market risk and market overview of the Market?

    Lastly, the Global Energy Efficient Elevators Market Research covers a complete market structure across the world with a comprehensive analysis of major key factors. This report provides planned orientations referred by the industry experts.

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    Study objectives of Energy Efficient Elevators Market Report:

    • To provide a detailed analysis of the market structure along with the Energy Efficient Elevators market forecast of various segments and sub-segments of the Energy Efficient Elevators market
    • To provide insights into factors influencing and affecting market growth
    • To provide historical, current, and forecast revenue of market segments based on material, type, design, and end user
    • To provide historical, current, and forecast revenue of market segments and sub-segments with respect to regional markets and key countries
    • To provide strategic profiling of key players in the market, comprehensively analyzing their market shares, core competencies, and drawing a competitive landscape for the market
    • To provide economic factors, technology and Energy Efficient Elevators market trends that influence the global Energy Efficient Elevators market

    Detailed TOC of Energy Efficient Elevators Market Report 2019-2024:

    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study



    4.1 Market Overview
    4.2 Introduction to Market Drivers and Restraints
    4.3 Market Drivers
    4.3.1 Increasing Demand for Energy Efficient Systems
    4.3.2 Due to Mounting Electricity Prices in High-Traffic Applications
    4.4 Market Restraints
    4.4.1 Lack of Information and Awareness in Electricity Consumption Rate and Lack of Technological Efficiency
    4.5 Value Chain Analysis
    4.6 Industry Attractiveness – Porter’s Five Force Analysis
    4.6.1 Threat of New Entrants
    4.6.2 Bargaining Power of Buyers/Consumers
    4.6.3 Bargaining Power of Suppliers
    4.6.4 Threat of Substitute Products
    4.6.5 Intensity of Competitive Rivalry

    5.1 By Control Systems
    5.1.1 Elevator Control System
    5.1.2 Access Control System Card-Based Access Control Systems Biometric Access Control Solutions Keypad-Based Access Control Systems
    5.2 By Automation Systems
    5.2.1 Motors & Drivers
    5.2.2 Sensors & Controllers
    5.2.3 Building Management Systems
    5.3 By End User
    5.3.1 Industrial
    5.3.2 Commercial
    5.3.3 Residential
    5.3.4 Other End Users
    5.4 Geography
    5.4.1 North America United States Canada
    5.4.2 Germany United Kingdom France Russia Rest of
    5.4.3 Asia-Pacific China Japan India Rest of Asia-Pacific
    5.4.4 Latin America Brazil Mexico Argentina Rest of Latin America
    5.4.5 Middle East & Africa Saudi Arabia UAE South Africa Rest of Middle East & Africa

    6.1 Company Profiles
    6.1.1 Hitachi Ltd.
    6.1.2 Mitsubishi Electric Corporation
    6.1.3 Fujitec Co., Ltd.
    6.1.4 KONE
    6.1.5 Schindler group
    6.1.6 OTIS Elevator Company
    6.1.7 Hyundai elevators co., Ltd.
    6.1.8 Thyssen Elevators Co., Ltd.
    6.1.9 Honeywell international



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