Energy Efficient Elevators Market 2020-2024 | Insights by Types, Applications, Market Drivers, Industry Segmentation and Forecast Analysis

Energy Efficient Elevators

The Key purpose of “Energy Efficient Elevators Market” report is to deliver key market trends, the scope of report, competitive landscape and industry overview with key players. Energy Efficient Elevators market report is designed by a detailed investigation process to collect all the necessary data. Further, the report studies the revenue generated from the market analysis and opportunity analysis to estimate the market size.

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Energy Efficient Elevators Market Covers Key Players:

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

    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.

    The Energy Efficient Elevators Market Report Includes:

    • The Energy Efficient Elevators market report covers the present status and future prospects.
    • The report analyses market trends, size, and forecast in different geographically.
    • The report provides market competition overview among the Top companies.
    • The report provides a complete analysis of the current and emerging market trends and opportunities.

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    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.<

    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.

    Europe to Record a Significant Growth Rate Over the Forecast Period

    – The European 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 Europe. 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.

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    Important Questions Answered in The Energy Efficient Elevators Market Report:

    • What is the main factor that takes this market to the next level?
    • What will the market demand and what will be growth?
    • What are the latest opportunities for the Energy Efficient Elevators Market in the future?
    • What are the strengths of the main players?
    • What is the key to the Energy Efficient Elevators Market?

    Detailed TOC of Energy Efficient Elevators Market Report 2020-2024:

    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 Europe Germany United Kingdom France Russia Rest of Europe
    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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