+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

U.K. Elevators & Escalators Market - Size & Growth Forecast 2024-2029

  • PDF Icon

    Report

  • 135 Pages
  • July 2024
  • Region: United Kingdom
  • Arizton
  • ID: 5578761
1h Free Analyst Time
1h Free Analyst Time

Speak directly to the analyst to clarify any post sales queries you may have.

The U.K. Elevators & Escalators Market consisted of 7,949 units in 2023, and is expected to reach 9,087 units by 2029, rising at a CAGR of 2.26%.

High Speed 2 Project and the Aging Population Are a Few Driving Factors for the Elevator and Escalator Market Demand

  • According to the Government Construction Strategy, the construction output in the U.K. is more than USD 151.4 billion per annum and accounts for 7% of its GDP. Moreover, approximately three-quarters of construction output is in the private sector, and a quarter is in the public sector.
  • High Speed 2 (HS2) is a planned high-speed railway connecting London to the West Midlands and eventually to the North of England. The project is expected to cost over USD 125 billion and will require the construction of numerous stations, tunnels, and viaducts. The HS2 project is expected to be completed in phases, with the first section between London and the West Midlands scheduled to open between 2029 and 2033. As construction progresses, significant demand for elevators across the region will continue to increase, supporting the U.K. elevator and escalator market growth.
  • The U.K. government is working on several infrastructure projects. One Undershaft, London (estimated completion 2025) is a 73-story skyscraper that will be the second-tallest building in Western Europe upon completion. It will include office space and a public viewing gallery. The initiative intends to develop regional commercial, residential, and recreational facilities.
  • According to the World Economic Forum, more than 500 smart cities are being built in the UK. For instance, the Cloud Valley project, a 13-million-square-foot area, uses Wi-Fi-connected devices and sensors to gather data on everything from people’s food habits to pollution.

Quarter of Installed Elevators Above 40 Years Old Create Demand for Maintenance of Elevators in The U.K.

  • Renovating old elevators, particularly those over twenty-five, can significantly reduce energy consumption by up to 65%, from an average of 3,400 kWh to 1,190 kWh annually. According to the Elevator Federation, this reduction, along with the development of new elevator designs consuming five times less energy than those from the 1960s, aims to achieve energy autonomy.
  • In the fourth quarter of 2023, maintenance and improvement prices for buildings moderately increased, with a more significant rise observed in the non-residential sector compared to the residential sector. Notable increases were recorded in activities such as "other construction installation," electrical installation, and painting and glazing, while prices declined in joinery installation during this quarter.

KEY HIGHLIGHTS

  • According to insights from major industry players, the service market, particularly maintenance and modernization, is expected to significantly drive the U.K. elevator and escalator market in the forthcoming years. This is projected alongside a slower growth rate and a potential decline in new installations during the forecast period. The primary reason for this trend is the prevalence of older buildings throughout the U.K., many of which do not currently have elevators installed or only have a small elevator that can fit one or two persons. Furthermore, the limited space available in such buildings often restricts the installation of only smaller elevators.
  • The U.K. Elevator Federation reports an average of three technical breakdowns per elevator annually, with over a third experiencing no breakdowns. Inadequate maintenance, usage, or modernization contribute to the majority of breakdowns. Modernization efforts are imperative, with nearly a quarter of elevators over 40 and half over 25 years old.

SEGMENTATION ANALYSIS

Elevator Market Segmentation by

  • Machine Type
    • Hydraulic and Pneumatic
    • Machine Room Traction
    • Machine Room Less Traction
    • Others
    • Climbing
    • Elevators
    • Industrial Elevators
  • Carriage Type
    • Passenger
    • Freight
  • Capacity
    • 2-15 Persons
    • 16-24 Persons
    • 25-33 Persons
    • 34 Persons and Above
  • End-User
    • Commercial
    • Residential
    • Industrial
    • Others
    • Public Transit
    • Institutional
    • Infrastructural

Escalator Market Segmentation by

  • Product Type
    • Parallel
    • Multi Parallel
    • Walkway
    • Crisscross
  • End-User
    • Public Transit
    • Commercial
    • Others
    • Institutional Sector
    • Infrastructure
    • Industrial

INDUSTRY DRIVERS

  • Infrastructure projects on the rise in the U.K. contribute to the growth of the U.K. elevator and escalator market, bolstered by initiatives like the UK 2030 investment plan to boost investments in the vertical transportation industry.
  • Increasing foreign investment in the U.K. drives demand for elevators further, while elevator manufacturers are reintroducing assistance programs to support elevator renovation efforts.
  • The extensive High Speed 2 project, spanning over ten years, is a significant driver for the U.K. elevator and escalator market.

MARKET OPPORTUNITIES

  • The aging population's increased demand for elevators and escalators in buildings underscores the necessity for housing renovation to facilitate the modernization of vertical transportation systems.
  • The need for digitization and cybersecurity in elevators is emphasized due to incidents like the theft of SIM cards in the U.K., prompting manufacturers to focus on enhancing security measures.

INDUSTRY RESTRAINTS

  • Rising maintenance costs result in customers being overcharged. At the same time, labor shortages and skills mismatches pose challenges to the construction industry, leading to lengthy repair times and shortages of experienced workers and components.
  • Anticipated rapid declines in the real estate industry in the U.K. in 2024 amid economic shifts highlight the need for strategic planning and adaptation within the vertical transportation industry.

VENDOR LANDSCAPE

  • The key players in the U.K. elevator and escalator market are KONE, Otis, Mitsubishi Electric, Schindler, Hyundai Elevator, TK Elevator, and Hitachi, Köhler.
  • The top 4 prominent vendors, including KONE, Otis, TKE, and Schindler, account for 60% of the U.K. elevator and escalator market.
  • Over 100 firms operate in the U.K., with around 17,000 employees in the elevator and escalator market in 2023.

Key Vendors

  • KONE
  • Mitsubishi Electric
  • TK Elevator
  • Otis
  • Hitachi
  • Fujitec
  • Schindler
  • Hyundai Elevator

Other Prominent Vendors

  • Stannah Lifts Holdings Ltd
  • Cibes Lift Group
  • Toshiba Elevator and Building Systems Corporation
  • KLEEMANN
  • Drieux-Combaluzier
  • Orona Elevators
  • SODIMAS
  • Pickerings Lifts
  • Aritco
  • WeMaintain
  • Ascier
  • Morris Vermaport Limited
  • NOVA Elevators
  • Bradford Lifts Ltd.

KEY QUESTIONS ANSWERED

1. How big is the U.K. elevator and escalator market?
2. What will be the growth rate of the U.K. elevator and escalator market?
3. What is the number of installed bases in the U.K. elevator and escalator market in 2023?
4. What are the key opportunities in the U.K. elevator and escalator market?
5. What are the key U.K. elevator and escalator market players?

Table of Contents

1. Introduction
1.1. Market Scope
1.2. Market Snapshot of Elevators
1.3. Market Snapshot of Escalators
1.4. Executive Summary
2. UK Elevators Market
2.1. Future Outlook -Uk Elevator Market by Volume
2.2. UK Escalators Market- by Segments
2.2.1. UK Escalators Market, by Volume
2.2.1.1. UK Escalators Market Size and Forecast, Volume (Units in Thousand), 2020-2029
2.2.2. UK Elevators Market, by Type
2.2.2.1. Hydraulic and Pneumatic, Market Size and Forecast, Volume (Units),2020-2029
2.2.2.2. Machine Room Traction, Market Size and Forecast, Volume (Units), 2020-2029
2.2.2.3. Machine Room Less Traction, Market Size and Forecast, Volume (Units), 2020-2029
2.2.2.4. Others, Market Size and Forecast, Volume (Units), 2020-2029
2.2.3. UK Elevators & Escalators Market by Carriage Type
2.2.3.1. Passenger, Market Size and Forecast, Volume (Units), 2020-2029
2.2.3.2. Freight, Market Size and Forecast, Volume (Units), 2020-2029
2.2.4. UK Elevators Market by Persons
2.2.4.1. 2-15 Persons, Market Size and Forecast, Volume (Units), 2020-2029
2.2.4.2. 16-24 Persons, Market Size and Forecast, Volume (Units), 2020-2029
2.2.4.3. 25-33 Persons, Market Size and Forecast, Volume (Units), 2020-2029
2.2.4.4. 34 Persons and Above, Market Size and Forecast, Volume (Units), 2020-2029
2.2.5. UK Elevators Market by End-users
2.2.5.1. Commercial, Market Size and Forecast, Volume (Units), 2020-2029
2.2.5.2. Residential, Market Size and Forecast, Volume (Units), 2020-2029
2.2.5.3. Industrial, Market Size and Forecast, Volume (Units), 2020-2029
2.2.5.4. Others, Market Size and Forecast, Volume (Units), 2020-2029
3. UK Escalators Market
3.1. Future Outlook - UK Escalators Market by Volume
3.2. UK Escalators Market- by Segments
3.2.1. UK Escalators Market, by Volume
3.2.1.1. UK Escalators Market Size and Forecast, Volume (Units), 2020-2029
3.2.2. UK Escalator Market by Type
3.2.2.1. Parallel, Market Size and Forecast, Volume (Units), 2020-2029
3.2.2.2. Multi-Parallel, Market Size and Forecast, Volume (Units), 2020-2029
3.2.2.3. Walkway, Market Size and Forecast, Volume (Units), 2020-2029
3.2.2.4. Crisscross, Market Size and Forecast, Volume (Units), 2020-2029
3.2.3. UK Escalator Market by End-users
3.2.3.1. Commercial, Market Size and Forecast, Volume (Units), 2020-2029
3.2.3.2. Public Transit, Market Size and Forecast, Volume (Units), 2020-2029
3.2.3.3. Others, Market Size and Forecast, Volume (Units), 2020-2029
4. UK Elevators &Escalators Market, by Service (Maintenance & Modernization)
5. Geographical Analysis
5.1. Key Economic Countries in UK
6. Market Dynamics
6.1. Market Drivers, Opportunities, Restraints, Trends
7. Technological Development
8. Competitive Landscape
8.1. Company Profile of Major Vendors
8.2. Other Prominent Vendors
9. Report Summary
9.1. List of Abbreviations
10. Appendix (Report Scope & Definition)
10.1. Research Methodology
10.2. Market Definition, Inclusion & Exclusion
List of Exhibits
1. Uk Elevator & Escalator Installed Base by Volume 2020-2029 (Units)
2. Uk Elevator & Escalator New Installations by Volume 2020-2029 (Units)
3. Market Share 2022: Maintenance
4. Market Share 2022: Modernization
5. Uk Installed Base: Volume (Units in Thousands)
6. Uk New Installations: Volume (Units in Thousands)
7. Global Elevator &Escalator Market, Product and Service 2022: Installed Base
8. Global Elevator &Escalator Market, Product and Service 2022: New Installed Base
9. Maintenance Market: 2022
10. Installed Base of Elevators by Volume (Units in Thousands)
11. New Installations of Elevators by Volume (Units in Thousands)
12. Maintenance & Modernization Value($Million)
13. Maintenance & Modernization 2022(%)
14. Installed Base of Escalators by Volume (Units in Thousand)
15. New Installations of Escalators by Volume (Units in Thousand)
16. Maintenance & Modernization Value($Million)
17. Maintenance & Modernization 2022(%)
18. Installed Base and New Installations of Elevators (Units)
19. New Installations of Elevators (Units)
20. Average Life Expectancy of Elevator Components
21. Hydraulic & Pneumatic Elevators Installed Base and New Installations (Units)
22. Machine Room Less Traction Elevators Installed Base and New Installations (Units)
23. Machine Room Traction Elevators Installed Base and New Installations (Units)
24. Others Machine Elevators Installed Base and New Installation (Units)
25. Installed Base and New Installations of Passenger Elevators (Units)
26. Installed Base and New Installations of Freight Elevators (Units)
27. Installed Base and New Installations of 2-15 Person Elevators (Units)
28. Installed Base and New Installations of 16-24 Person Elevators (Units)
29. Installed Base and New Installations of 25-33 Person Elevators (Units)
30. Installed Base and New Installations of 34 Persons and Above Elevators (Units)
31. Installed Base and New Installations of Commercial Elevators (Units)
32. Installed Base and New Installations of Residential Elevators (Units)
33. Installed Base and New Installations of Industrial Elevators (Units)
34. Installed Base and New Installations of Other End-user Elevators (Units)
35. Installed Base and New Installations of Escalators (Units)
36. New Installations of Escalators (Units)
37. Installed Base and New Installations of Parallel Escalators (Units)
38. Installed Base and New Installations of Multi Parallel Escalators (Units)
39. Installed Base and New Installations of Moving Walkway Escalators (Units)
40. Installed Base and New Installations of Crisscross Escalators (Units)
41. Installed Base and New Installations of Public Transit Escalators (Units)
42. Installed Base and New Installations of Commercial Escalators (Units)
43. Installed Base and New Installations of Other End-user Escalators (Units)
44. Uk Elevators & Escalators Maintenance Market ($ Bn)
45. Uk Elevators & Escalators Modernization Market ($ Bn)
46. Elevators and Escalators Market: Geographic Analysis
47. Market Share 2020(% Share)
48. Kone, Total Sales by Segment 2022(%Share)
49. Tke Total Sales 2020-2022($Billion)
50. Schindler, Total Sales 2017-2022($Billion)
51. Mitsubishi, Total Sales by Segment 2020(% Share)
52. Otis Total Sales 2020-2022($Billion)
53. Fujitec Net Sales 2017-2022($Billion)
54. Hitachi Total Sales by Segment 2022(% Share)
List of Tables
1. 150M+ Tall Buildings by Country
2. By Machine, New Installations, Total Incremental Opportunity, 2022-2029
3. By Carriage Type, New Installations, Total Incremental Opportunity, 2022-2029
4. By Capacity (Persons), New Installations, Total Incremental Opportunity, 2022-2029
5. By End-user, New Installations, Total Incremental Opportunity, 2022-2029
6. By Product, New Installations, Total Incremental Opportunity, 2022-2029
7. By End-user, New Installations, Total Incremental Opportunity, 2022-2029
8. Geographic Analysis
9. Impact of Carbon Emissions
10. Developments/ Projects
11. Elevators Market Size & Forecast by Type (Units)
12. Elevators by Carriage Type Market Size & Forecast (Units)
13. Elevators Market Size & Forecast by Persons (Units)
14. Elevators by End-users Market Size & Forecast (Units)
15. Escalators Market Size & Forecast by Type (Units)
16. Escalators Market Size & Forecast by End-users (Units)
17. List of Abbreviations

Companies Mentioned

  • KONE
  • Mitsubishi Electric
  • TK Elevator
  • Otis
  • Hitachi
  • Fujitec
  • Schindler
  • Hyundai Elevator
  • Stannah Lifts Holdings Ltd
  • Cibes Lift Group
  • Toshiba Elevator and Building Systems Corporation
  • KLEEMANN
  • Drieux-Combaluzier
  • Orona Elevators
  • SODIMAS
  • Pickerings Lifts
  • Aritco
  • WeMaintain
  • Ascier
  • Morris Vermaport Limited
  • NOVA Elevators
  • Bradford Lifts Ltd.

Methodology


Our research comprises a mix of primary and secondary research. The secondary research sources that are typically referred to include, but are not limited to, company websites, annual reports, financial reports, company pipeline charts, broker reports, investor presentations and SEC filings, journals and conferences, internal proprietary databases, news articles, press releases, and webcasts specific to the companies operating in any given market.

Primary research involves email interactions with the industry participants across major geographies. The participants who typically take part in such a process include, but are not limited to, CEOs, VPs, business development managers, market intelligence managers, and national sales managers. We primarily rely on internal research work and internal databases that we have populated over the years. We cross-verify our secondary research findings with the primary respondents participating in the study.



 

Loading
LOADING...

Table Information