TMCnet News

Technavio Announces Top Six Vendors in the Strategic Assessment of Emerging Technologies in Elevator and Escalator Market from 2015 to 2019
[February 12, 2016]

Technavio Announces Top Six Vendors in the Strategic Assessment of Emerging Technologies in Elevator and Escalator Market from 2015 to 2019


Technavio has announced the top six leading vendors in their recent strategic assessment of emerging technologies in elevator and escalator market report. This research report also presents a detailed analysis of the key vendors and their product offerings.

Competitive vendor landscape

The global elevator and escalator market is dominated by four leading players: Otis, KONE, Schindler, and ThyssenKrupp. Other large vendors, such as Mitsubishi, Toshiba (News - Alert), and Fujitec have also captured a significant market share. The global construction market has been experiencing a steady growth since 2013. Moreover, the growth of the high-rise construction sector is also contributing significantly to the growth of the global elevator and escalator market.

Soumya Mutsuddi, a lead construction analyst from Technavio, says, "Despite the dominance of the major vendors, there are a large number of small domestic country-specific vendors in the market as of 2014, providing elevator and escalator installation, maintenance, and modernization services. These vendors offer affordable solutions to SMEs and small construction companies and developers, which engage mainly in small-scale residential development projects."

The report also states that the entry of the small domestic vendors poses an imminent threat to the leading players in the market, which will add to the intensely competitive environment. These vendors are more cost-effective to SMEs as they face budget constraints in the procurement of elevator and escalator equipment and services from the international players. "The small vendors are also slowly increasing their market footprint in their home countries, which can have an adverse effect on the market share of the international vendors in the long run," adds Soumya.

Request a sample report: http://goo.gl/xYiIGj

Top six vendors in the strategic assessment of emerging technologies in elevator and escalator market

Hitachi (News - Alert)

Hitachi was founded in 1910 and is headquartered in Japan. The company manufactures and markets products in segments, including power, information and telecommunication, and social infrastructure and ndustrial systems.



The company comprises 1,257 affiliates, of which 1,008 are its subsidiaries and 249 are through equity method associates and joint ventures. As of March 2015, the company had 33,150 employees globally and generated a revenue of USD 88.95 billion.

KONE


KONE was founded in 1910 and is headquartered in Helsinki, Finland. The company provides elevators, escalators, autowalks, automatic doors, and integrated vertical transport systems. They also supply services throughout the lifecycle of the equipment including the installation, maintenance, and replacement.

Mitsubishi (News - Alert) Electric

Mitsubishi Electric was established in 1921 and is headquartered in Tokyo, Japan. The company manufactures and markets electrical and electronic products and systems worldwide. Their products are used in energy and electric systems, industrial automation, information and communication systems, electronic devices, and home appliances.

For financial year ended March 2015 (FY2015), the company reported annual revenue of USD 39.34 billion, and invested USD 1.78 billion on R&D activities.

Otis Elevator

Otis Elevator, was founded in 1853 and is headquartered in Farmington, US. The company manufactures and maintains people-moving products, which include escalators, elevators, and moving walkways. They serve the elevators and escalators market in the US.

In 2011, Otis held the leading position in the global elevator market and was followed by key vendors in the market such as KONE, Schindler, and ThyssenKrupp.

Schindler

Schindler was founded in 1874 and is headquartered in Switzerland. It manufactures, installs, supplies, services, and modernizes elevators, escalators, and moving walkways for all type of building requirements.

As of December 2014, the company had 54,000 employees. The revenue generated by the company was USD 10.11 billion and spent USD 0.14 billion on R&D. The company has 1,000 branches in over 100 countries, with manufacturing sites in Switzerland, Slovakia, Spain, the US, Brazil, China, and India.

ThyssenKrupp

ThyssenKrupp, which was established in 1999 and headquartered in Essen, Germany, is a diversified industrial company specialized in materials, and capital goods and services. The company has engineering expertise in mechanical, plant, and materials areas and operates in around 80 countries.

ThyssenKrupp has an established presence in the construction sector with its range of offerings such as TWIN elevators, high-speed double-decker elevators, high-speed elevators with machine room, machine room-less elevators, mini machine room elevators, explosion proof elevators, freight elevators, vehicle elevators, hydraulic elevators; and commercial, traffic, and heavy duty escalators; moving walkways and accessibility lifts.

Browse Related Reports:

Purchase these three reports for the price of one by becoming a Technavio subscriber. Subscribing to Technavio's reports allows you to download any three reports per month for the price of one. Contact [email protected] with your requirements and a link to our subscription platform.

About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

If you are interested in more information, please contact our media team at [email protected].


[ Back To TMCnet.com's Homepage ]