The Elevator Modernization market is a subset of the Elevators and Escalators industry. It involves the replacement of existing elevator systems with modernized, more efficient ones. This includes the installation of new components such as motors, controllers, and safety systems. The modernization process also includes the addition of features such as energy-saving systems, improved lighting, and advanced communication systems. Modernization of elevators and escalators is becoming increasingly popular as it can help reduce energy consumption, improve safety, and increase the lifespan of the equipment. It can also help reduce maintenance costs and improve the overall user experience. Some of the major companies in the Elevator Modernization market include KONE, Otis, Schindler, ThyssenKrupp, Mitsubishi Electric, Hitachi, Fujitec, and Hyundai. Show Less Read more
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