Elevator Market: Double Deck Elevator Grabs Eyeballs, Boom in Skyscraper Construction Sparks Intense Competition among Elevator Manufacturers


Published on : Apr 03, 2019

Albany, New York, April 3, 2019: Efficacious vertical mobility has become an apt component of tall building development and construction. Race to build skyscrapers-led by countries such as the United States, Saudi Arabia and China- has sparked intense competition among elevator manufacturers to build more efficient, faster, safer, and more economical and more comfortable elevators. As such, the growing number of ultra-high-rise condominiums, office buildings, hotels bode well for elevator manufacturers. These introductory insights are according to the intelligence report titled, “Elevator Market—Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018-2026,” which has been incorporated in Market Research Hub’s (MRH) ever-expanding repository.

The Lotte World tower redefined the Seoul skyline featuring world’s tallest and fastest double-decker elevator that whizzes people to the 121st floor in one minute or at 10 meters per second. The structure is designed to hold up to 9 magnitude earthquake and withstand gusts of wind as fierce as those witnessed in Hurricane Katrina—around 180 miles per hour. Besides, China boasts of having one of the fastest elevators in Guangzhou’s tower CTF, standing at 1,739 feet tall.

Given double deck elevators can reduce a building’s total energy usage by reducing the number of stops and also the total number of elevators needed, it has grabbed eyeballs globally. Meanwhile, researchers are looking to create energy consumption models to aid to develop efficient control strategies and make recommendations for best modus operandi. New innovations are emanating the introduction of energy efficient elevators which not only consume less energy, but also produce clean energy, thereby investing towards “green elevators.”

Elevator Market: Report Content

The report offers a robust analysis on elevator market with the aid of qualitative and quantitative assessment. The report focuses on the segmentation of the market to provide thorough analysis on the elevator market. Further, the report also shed light on the trends, drivers, opportunities and restraints within the elevator market.

The report includes executive summary, overview section which offers deep dive analysis on elevator market. Furthermore, the report on elevator market incorporates the market outlook and market attractiveness analysis which are aimed at proving a coherent analysis on the elevator market. The report also focuses on supply chain analysis, cost structure analysis, value projection and pricing analysis to offer readers with a holistic view on the elevator market. The report on elevator market also throws light on trend analysis, Porters’ Five Force Analysis and value chain analysis. Porters’ Five Force Analysis offers a thorough analysis on competitive landscape of the elevator market.

A coherent analysis of competitive landscape of the elevator market is augmented through the perusal of Porters’ Five Force Analysis. The Porters’ Five Force Analysis provides holistic picture on the potential strategic-steps to be undertaken by rivals. The report is furthered by the inclusion of company overview, financial overview, key differentiation, portfolio of the product, recent development, namely.

Elevator Market: Research Methodology

Secondary research and primary research offers a coherent analysis on elevator market. The secondary sources includes Factiva, trade journals, authentic paid source and resourceful database. While the primary source incorporates views of experts which can be vouched for, authentic views from seasoned analyst and surveys. Essentially, the report also incorporates absolute dollar opportunity analysis which reveal the growth of the elevator market.

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