Europe Elevator Market 2023-2030

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    EUROPE ELEVATOR MARKET

     

    INTRODUCTION

     

    Elevator, often known as a lift, is a car that travels vertically in a shaft to transport passengers or freight between the levels of a multi storey structure. Most contemporary elevators are pushed by electric motors via a system of wires and sheaves with the assistance of a counterweight (pulleys).

     

    The elevator had a key role in developing the distinctive urban topography of many contemporary cities, particularly in the United States, and promises to play a vital role in future city growth.

     

    The technique of mechanically raising burdens during building activities dates back to the 1st century BC, according to the Roman architect-engineer Vitruvius.

     

    The operation of an elevator or lift is similar to that of a pulley system. To extract water from the well, a pulley system is employed. A bucket, a rope, and a wheel may be used to create this pulley system.

     

    A bucket is attached to a rope that runs through a wheel. This can make drawing water from the well quite simple. Similarly, modern elevators employ the same approach.

     

    However, the fundamental distinction between these two is that pulley systems are handled manually, whereas elevators employ complex mechanics to handle the elevator’s load.  An elevator is essentially a metal box of various designs that is attached to an extremely strong metal rope. The strong metal rope is threaded through a sheave .

     

    The way the lift travels inside the shaft is described by a screw and nut arrangement (the shaft is always supplied with our lifts for safety). Each of our lifts has a long-threaded bar (like a screw) running the length of it.

     

    With a huge, heavy-duty bolt and nut added, the whole thing may be connected to a motor. When the motor is turned on (by pressing the lift buttons), the big nut moves up and down the threaded bar.

     

    A key issue as people age is mobility and access and moving about the home can sometimes become a challenge.

     

    EUROPE ELEVATOR MARKET SIZE AND FORECAST

     

    infographic: Europe Elevator Market, Europe Elevator Market Size, Europe Elevator Market Trends, Europe Elevator Market Forecast, Europe Elevator Market Risks, Europe Elevator Market Report, Europe Elevator Market Share

     

    The Europe Elevator Market  accounted for $XX Billion in 2022 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2023 to 2030.

     

    NEW PRODUCT LAUNCH

     

    In order to be used in medium- and low-rise business buildings and apartments in Europe, Mitsubishi Electric Corporation announced the launch of its new MOVE elevator model. This model offers quick delivery, space savings, and low environmental impact.

     

    Subsidiary Mitsubishi Elevator Europe B.V. (EMEC) is handling the development and production of the model, and will market it in the Netherlands, the United Kingdom, France, and other European nations. In the established European market, there is a steady demand for lifts and escalators, with an average of 140,000 new installations annually.

     

    The NEXIEZ series lifts from Mitsubishi Electric, which are made in Thailand and Japan and are aimed at mid- to high-rise luxury hotels and commercial buildings, have so far been the company’s main source of supply for this market.

     

    EOX is being launched by TK Elevator, one of the market and innovation leaders in the elevator sector. With its space-saving design, cutting-edge technologies, and short lead times, the eco-efficient elevator platform is designed to suit the needs of two- to 10-story structures.

     

    TK Elevator has responded to the cries of architects, developers, and building owners with a product optimized to match most budgets and construction timetables, providing them what they need and more. Modern digital services enhance product life and improve uptime.

     

    Passengers are entertained and informed with bespoke content on the in-car multimedia display. Regenerative drive harvests energy and supplies it back to the structure. During periods of low traffic, the lift’s speed and acceleration are decreased when in eco-mode. The ride quality and entrance safety are monitored by upgraded in-car sensors.

     

    The IoT platform MAX connects an in-car camera and two-way chat as security features. VoIP (Voice over Internet Protocol). Modern urban infrastructure and transportation depend heavily on lifts. TK Elevator will maintain making sure that their goods develop via innovation to meet the needs of customers and riders.

     

    With the help of an economical, intelligent, environmentally friendly, and future-proof lift, EOX is intended to lower their customers’ operational expenses. To achieve net zero carbon emissions, TK Elevator is dedicated to working with clients to meet their goals for carbon reduction.

     

    As a result, efforts to reduce carbon emissions were included into product design, which had an effect on the selection of materials.

     

    For instance, a steel-only alternative would have more embodied carbon than the lift’s counterweight, which is 40% concrete. Compared to earlier models, the lift is also considerably lighter, allowing for efficiency without compromising strength or safety.

     

    The cloud-based predictive maintenance programme MAX is standard equipment for every EOX. Building managers and TK Elevator’s service professionals have access to real-time information for quicker, more effective decision-making by using performance data analysis to tell consumers about the “health” of their lift.

     

    The downtime for lifts might be reduced by up to 50% using this data-driven strategy. With touchless technology, such as AGILE Mobile, customers can also improve the experience of their tenants. Riders can use their smartphone to make a remote lift request thanks to the technological device.

     

    EUROPE ELEVATOR MARKET DEVELOPMENTS AND INNOVATIONS

     

    S No Overview of Development Development Detailing Region of Development Possible Future Outcomes
    1 Germany’s Thyssenkrupp AG completes sale of its elevator technology business German conglomerate Thyssenkrupp AG has completed the sale of its Euro 17.2 billion (Rs 15.2 lakh crore) elevator business on Friday to a consortium of private equity firms led by Advent International and Cinven. Europe – Germany This would enhance better innovations

     

    EUROPE ELEVATOR MARKET DYNAMICS

     

    SI No Timeline Developments
    1 Q4-2021 FutureSun is a PV panel manufacturer from Italy, installed a solar powered elevator with a storage system which can store energy generated while itself moving through gravitational storage under a pilot project at Cuneo, Italy. The project is also funded by the Store4HUC program for the improvement of renewable energy solutions to reduce carbon emissions by the European Regional Development Fund.
    2 Q3-2021 Otis Worldwide Corporation in Europe launched the innovative elevator technology by replacing old elevators with new autonomous elevator ‘drive by wire system’ under Gen 3 platform. 
    3 Q1-2021 The Cibes Lift Group is a Sweden company acquired by the UK based company Titan Elevators located at Sidcup, to expand its business in the UK regions. 

     

    Elevators that use hoisting ropes must have platform “safeties,” which are devices that clamp onto the steel guide rails when activated, immediately bringing the elevator to a halt.

     

    The safety, which is normally positioned beneath the automobile platform, is activated by a speed governor through a rope. In the case of significant downhill motion of the automobile, the rope pulls the safety to the on position.

     

    The mechanism initially cuts elevator power; if the high speed persists, the safety brake is applied. The majority of contemporary elevators are automated, with several control systems used to run elevators individually or in groups.

     

    Technological innovation is expected to have a significant influence on market growth. Furthermore, recent improvements in the real estate industry and rising urbanization have spurred market expansion.

     

    However, safety concerns related to inadequate equipment maintenance are likely to have a minor influence on market development.

     

    The increased migration of people from rural to urban regions has increased the need for multi-story structures and escalators in the public transportation sector. Furthermore, rising disposable income and an ageing metropolitan population have fueled market expansion.

     

    Infographic: Europe Elevator Market, Europe Elevator Market Size, Europe Elevator Market Trends,  Europe Elevator Market Forecast,  Europe Elevator Market Risks, Europe Elevator Market Report, Europe Elevator Market Share

     

    Because of increased building demand in emerging nations such as Croatia, Georgia, Romania, and Ukraine, Europe accounted for the second-largest proportion of the elevator market.

     

    These countries are expected to see an increase in demand for new buildings and infrastructure. Elevator demand in this region would increase as a result of expanding urbanization, increased consumer spending, and government initiatives.

     

    Construction markets in developed nations such as Germany, the United Kingdom, and France are more mature. As a result, demand for new elevators would be restricted in these nations, but demand for maintenance, repair, and after sales service would be considerable.

     

    EUROPE ELEVATOR MARKET SEGMENTATION

     

    The Europe Elevator Market can be segmented into following categories for further analysis.

     

    By Technology

    • Traction Based Technology
    • Machine Room Less ( MRT ) Traction Technology
    • Hydraulic Technology

     

    By Technology Usage

    • Building and Construction Elevator
    • Commercial elevator
    • Industrial Elevator

     

    By Combination of Application

    • New Installation
    • Maintenance and Repair
    • Modernisation

     

    RECENT TECHNOLOGICAL TRENDS IN EUROPE ELEVATOR MARKET

     

    SI No Timeline Company Developments
    1 Q1-2021 Otis  The world’s leading company for elevator and escalator manufacturing, Otis provides its vertical transportation system service for the 38 story office building of Alto Tower at France to be equipped with skyrise double deck elevators. 
    2 Q1-2021 Orona Spanish based elevator and escalator company Orona is partnered with construction group projects company AVIT-A to supply its elevators, for the industrialization of construction. 
    3 Q1-2021 Thyssenkrupp Elevator German company Thyssenkrupp Elevator provides engineering, construction and service of next generation mobility solutions such as escalators, elevators has changed its name Thyssenkrupp Elevator with the new name TK Elevators with the new global brand TKE. 
    4 Q1-2021 Thyssenkrupp Elevator MULTI is the world’s first rope free elevator system by Thyssenkrupp Elevator. DigiPara’s automatic building information modeling (BIM) program provides 3D models and system drawings in MULTI installations at the earliest stage in the building design phase. 

     

    The massive rise in the building and construction sector, along with an increasing reliance on technology, is fueling the growth of the elevators market.

     

    Construction markets in other emerging economies will also see increased growth rates in the near future. These favourable trends in emerging economies are expected to fuel the elevator market’s expansion throughout the projected period.

     

    Despite this, high maintenance and installation costs are anticipated to be a hindrance to the growth of the elevator industry in the near future. The risk element prevalent in elevators is the most significant problem associated with the elevator sector.

     

    Companies have been able to create fresh needs and expectations from lift systems in an ever-changing technology ecosystem.

     

    Furthermore, rising urbanization has increased demand for the finest business lifts and best house elevators. Smart elevators and lifts have brought about a new era of progress in the world we live in.

     

    In this day and age, people don’t have to stand in line for the elevator just to discover that it will make several stops before arriving at your desired place.

     

    The intelligent system will direct you to the elevator that will transport them to their destination in the shortest amount of time. These systems are fantastic at peak hours.

     

    Green elevators are being developed by some of the leading lift firms these days in order to promote sustainable growth. A high-efficiency PM is used in the green elevator.

     

    When compared to geared systems, a gearless motor system significantly reduces energy usage by more than 50%. The use of lightweight, lubricant-free, PU coated steel belts in lifts and elevators instead of steel wire ropes improves energy efficiency even more.

     

    The use of roller guides rather than lubricants enhances sustainability as well. Green elevators are concerned with concerns of energy recovery as well as the decrease of energy usage. It should be mentioned that green lifts use the least amount of energy when just half of their capacity is used.

     

    RECENT TECHNOLOGICAL TREND

     

    The elevator industry is currently undergoing a number of revolutionary developments that could completely change how elevators function in your buildings.

     

    Fewer shafts and more elevators

    The TWIN elevator system, which is more popular in Europe, is currently on the rise in the US. In the TWIN elevator system, two regular elevators are installed in the same shaft and operate independently of one another. The two elevators are kept apart by a mechanism that measures their distance from one another.

     

    You usually need more elevators as that number of people rises. But with the TWIN system, you may increase the number of elevators without increasing the number of shafts. In fact, more people can be accommodated without adding extra elevator shafts.

     

    TWIN offers two possibilities for individuals worried about the energy consumption incurred by two elevators in addition to providing building owners with more space and facilitating speedier travel for the general public.

    Smaller motors: The typical building owner should carefully consider the prospective energy usage of a new elevator system. There are ways for the building owner to “slow down” the elevators if necessary and lessen the TWIN system’s energy consumption, claims Schroeder. 

     

    There are instances when we can slow down the vehicles due to the two elevators that are functioning in the shaft, which necessitates smaller motors and so forth.

    Elevator sleep mode: Due to low demand at that specific moment in the building itself, there are times during the day when both elevators are not required. It is possible to put some elevators to sleep at those times. When it is best for the building, they can be turned off.

    Analytics in Elevator Technology: Like many other businesses, the elevator business is going through a digital transition. Building owners and facilities managers can now monitor advanced data in their elevators. 

     

    Predictive maintenance, Schindler uses elevator data to notify owners of potential maintenance needs and when and where they may occur. Schindler is able to anticipate potential service faults and diagnose, evaluate, and fix them using top diagnostics and advanced analytics.

    Elevators used in emergencies

    If an emergency requires an evacuation of a facility, people within are typically warned to stay away from elevators. However, National Elevator Industry Inc. (NEII) sought to amend building rules to permit the use of elevators in the event of an emergency evacuation, in part because of the tragic events of 9/11.

     

    This opens up an amazing number of potential safety upgrades for buildings. The use of elevators to help transfer people out of buildings could help save lives and improve ADA compliance in buildings that accept the modification, even though most modern elevators would need to be upgraded to fit the current standards for an emergency evacuation system.

     

    PRODUCT DEVELOPMENT AND INNOVATION

     

    The Schindler Group, a well-known international elevator and escalator firm, created and produced the cutting-edge and ground-breaking Schindler 7000 elevator system.

     

    The Schindler 7000 was developed by Schindler to satisfy the growing demands of contemporary urbanization and architectural complexity. Schindler has a long history of engineering excellence and a dedication to offering cutting-edge solutions. The Schindler 7000 is a member of Schindler’s high-rise product line, which is geared toward large structures and skyscrapers.

     

    It is designed to deliver dependable and effective vertical transit while assuring the safety, comfort, and sustainability of users. Modern technology and clever design are at the heart of the Schindler 7000.

     

    It makes use of cutting-edge traction drive technology, ensuring economical operation and a smooth ride. The elevator can move swiftly and precisely thanks to the traction drive system’s use of strong electric motors and ropes.

     

    As a result, there is a decrease in energy use, which helps to make tall buildings more environmentally friendly. The large and fashionable elevator cab design of the Schindler 7000 is one of its distinguishing qualities.

     

    The 7000 series is a direct result of Schindler’s dedication to putting the passenger experience first. The inside of the elevator cabs, which is contemporary and attractive and matches the building’s overall architecture, was built with an eye on aesthetics.

     

    The cabs are very roomy, providing space for all passengers, including those using strollers or other mobility assistance. Modern dispatching algorithms are included with the Schindler 7000 to guarantee effective passenger flow and reduce waiting times.

     

    In order to minimize wait times and congestion during peak hours, these clever algorithms evaluate the patterns of passenger flow and optimize the movement of the elevators. Because of this, the system offers a smoother and more effective transit experience, particularly in situations with heavy traffic.

     

    Elevator systems must be safe, and Schindler takes this responsibility very seriously. A wide range of safety systems are built into the Schindler 7000 to shield passengers and avert potential dangers.

     

    To avoid entrapment and guarantee passenger safety, it has numerous safety redundancies, emergency braking systems, and smooth door actions. A further indication of Schindler’s dedication to upholding the highest safety standards in the sector is the Schindler 7000’s compliance with strict international safety requirements and regulations.

     

    The elevators are kept in top functioning condition by routine maintenance and stringent testing, ensuring dependable vertical transportation every day.  Schindler is aware that a key component of contemporary building design is sustainability.

     

    The Schindler 7000 includes environmentally friendly elements like regenerative motors that capture and turn braking energy into electricity. In order to reduce overall energy usage and the carbon footprint of the building, this recaptured energy is then employed to power additional building systems or routed back into the building’s power grid.

     

    The Schindler 7000 offers a wide range of customization possibilities in addition to its fundamental characteristics, enabling architects and building owners to modify the elevators to meet their unique design and functional needs.  The Schindler 7000 may be easily modified to match the overall aesthetics of the building, from cab finishes and materials to cutting-edge digital display systems.

     

     

     

    EUROPE ELEVATOR MARKET COMPETITIVE LANDSCAPE

     

    SI No Timeline Company Developments
    1 Q3-2021 Kone Corporation Kone Corporation to supply 15 new escalators and elevators to Arbor office building of Bankside Yards company at London. 
    2 Q3-2021 Kone Corporation  The Finnish based escalator and elevator giant Kone Corporation recorded positive growth in the second quarter of EUR 2.8 billion which rose 11% from the same period last year revenue EUR 2.5 billion. 
    3 Q3-2021 Maspero Elevatori The Italian elevator designer and escalator maintenance company Maspero Elevatori got a contract of EUR 2.8 million for the renovation of elevators in Palais des Nations at Geneva, Switzerland and the project will be completed by the first quarter of 2023.
    4 Q1-2021 Schindler Holdings Schindler Holdings elevator and escalator business recorded a 5% decrease in global net revenue due to pandemics in 2020. The revenue is not affected very much due to smaller buildings will see an increased amount of elevators and escalators being installed.

     

    In escalator design, safety is also an important consideration. The addition of automatic sprinklers or fireproof shutters to an escalator floor-opening, or the installation of the escalator in an enclosed fire-protected hall, can offer fire protection for the opening.

     

    To reduce the risk of overheating, proper ventilation must be provided for the compartments containing the motors and gears.

     

    If the escalator is the principal mode of transportation between levels, a regular staircase should be built adjacent to it. An elevator lift adjacent to an escalator may also be required for wheelchairs and handicapped people.

     

    Thyssenkrupp AG has long been part of the European Elevator Market. The Zeta 200 is one of the latest incorporations in the elevator technologies.

     

    Wherever they are deployed, zeta200 preset configurations reliably offer the mix of high-rise, high-speed, high performance, and operational excellence on which TK Elevator’s reputation is built.

     

    The zeta200 is aimed towards high-rise commercial and mixed-use structures. The zeta200 is the easy method to assure a smooth, comfortable, and attractive high-speed experience by combining the newest technologies and established product combinations. The zeta200 delivers quiet interiors, smooth acceleration, and a solid ride at high speeds by merging cutting-edge technology and high-performance components.

     

    The Double-layered car doors and a high-performance door system work together with electronically controlled roller guides to reduce vibration, contributing to zeta200’s exceptional ride quality.

     

    The Extra-long double column car frame is equipped with our dynamic compensation rope system to ensure stable operations at high speed. Schindler Electric elevators is part of the latest development perspective in the European Market.

     

    The Personal Occupant Requirement Terminal, or PORT Technology, is a sophisticated software system that uses information to direct and transport individuals to their specific destinations swiftly and safely, connecting with them via a simple yet elegant gadget called the PORT.

     

    Schindler’s remarkable new PORT serves as your communication hub with building inhabitants. It may perform a variety of command and communication activities to give you and your building’s inhabitants ongoing service.

     

    The PORT terminal is as dependable as it is stylish, and it may be wall-mounted or fitted with a freestanding pedestal. Each PORT includes a motion sensor that detects when it needs to be active and places it in a low energy consumption mode the rest of the time.

     

    When the screen activates, an ambient light sensor calculates the appropriate brightness level, once again improving energy use. Finally, the processor, which serves as the heart of each PORT, consumes the least amount of energy in its class.

     

    1 Market Segmentation
    2 Scope of the report
    3 Abbreviations
    4 Research Methodology
    5 Executive Summary
    6 Introduction
    7 Insights from Industry stakeholders
    8 Cost breakdown of Product by sub-components and average profit margin
    9 Disruptive innovation in theIndustry
    10 Technology trends in the Industry
    11 Consumer trends in the industry
    12 Recent Production Milestones
    13 Component Manufacturing in US, EU and China
    14 COVID-19 impact on overall market
    15 COVID-19 impact on Production of components
    16 COVID-19 impact on Point of sale
    17 Market Segmentation, Dynamics and Forecast by Geography, 2023-2030
    18 Market Segmentation, Dynamics and Forecast by Product Type, 2023-2030
    19 Market Segmentation, Dynamics and Forecast by Application, 2023-2030
    20 Market Segmentation, Dynamics and Forecast by End use, 2023-2030
    21 Product installation rate by OEM, 2023
    22 Incline/Decline in Average B-2-B selling price in past 5 years
    23 Competition from substitute products
    24 Gross margin and average profitability of suppliers
    25 New product development in past 12 months
    26 M&A in past 12 months
    27 Growth strategy of leading players
    28 Market share of vendors, 2023
    29 Company Profiles
    30 Unmet needs and opportunity for new suppliers
    31 Conclusion
    32 Appendix
       
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