France Elevator Market by Type (Passenger elevator, Freight elevator and Others), by Technology (Traction and Hydraulic), by Service (New Installation, Maintenance and Modernization), by Capacity (Less than 1500 kg, 1500 to 2500 kg, 2501 to 4000 kg and More than 4000 kg) by Speed (Less than 1 M/S, Between 1 to 4 M/S and More than 5 M/S), by Deck type (Single Deck and Double Deck), by Designation Control (Smart and Conventional), by Door Type (Automatic and Manual) and by Application (Residential, Commercial and Industrial) - Opportunity Analysis and Industry Forecast, 2024 –2030
Industry: Construction & Manufacturing | Publish Date: 29-Mar-2024 | No of Pages: 129 | No. of Tables: 95 | No. of Figures: 60 | Format: PDF | Report Code : N/A
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Market Definition
France Elevator Market size was valued at USD 2.48 billion in 2023, and is predicted to reach USD 3.85 billion by 2030, at a CAGR of 5.5% from 2024 to 2030. The elevator market represents a dynamic sector encompassing the design, manufacturing, installation, and maintenance of elevator systems. From conventional traction elevators to cutting-edge smart solutions, this market offers a diverse array of vertical transportation choices customized to suit the distinct requirements of various buildings and infrastructure projects. Stakeholders within the elevator market include manufacturers, suppliers, contractors, architects, building owners, and facility managers. Manufacturers continuously innovate to enhance elevator performance, safety, and sustainability, while suppliers provide critical components and materials necessary for system construction.
Additionally, sustainability considerations, including energy efficiency and material recyclability, are increasingly integral to elevator design and operation. They align with broader environmental objectives and sustainable building practices. Thus, the elevator market is a cornerstone of vertical mobility as elevators enhance functionality, accessibility, and sustainability within buildings and urban landscapes worldwide.
Rising Construction Sector Fuels the Growth of the Market
The Elevator market is driven due to the growth in infrastructure sector within the region. The French construction industry is poised for a positive future, buoyed by investments in non-residential and civil engineering projects. This surge in construction activities directly correlates with an escalating demand for vertical mobility solutions like elevators. The construction of new buildings and the renovation of existing structures are driving this demand, emphasizing the indispensable role of elevators in facilitating seamless vertical transportation within high-rise buildings, commercial complexes, and residential properties. Therefore, the expansion of the construction industry serves as a primary driver propelling the growth of the elevator market in France.
Robust Urbanization is Propelling the Growth of the Market
Robust urbanization within the region is propelling the market growth. France boasts a notable urban demographic, with 81.8% of its population residing in urban areas, as highlighted by the Central Intelligence Agency. This significant urbanization trend underscores a dense concentration of individuals in cities and urban centers, consequently stimulating construction activities across the nation. The proliferation of urbanization intensifies the need for infrastructure development to accommodate the burgeoning population, thereby amplifying the demand for vertical mobility solutions such as elevators.
With cities witnessing continual expansion and vertical growth, elevators become indispensable components of modern urban living, serving as vital conduits for efficient vertical transportation within skyscrapers, office complexes, residential towers, and other urban structures. Thus, the prevailing urbanization trend in France acts as a potent driver fuelling the growth of the elevator market, reflecting the inseparable link between demographic dynamics and market demand.
The Significant Initial Cost Hinders the Growth of the Market
The significant costs linked to installing, maintaining, and improving elevators create obstacles to expanding the market. From the initial installation expenses to the ongoing maintenance fees and the necessity for upgrades to comply with safety standards and improve energy efficiency, building owners face substantial financial hurdles. These challenges are especially daunting for owners located in economically disadvantaged areas or within older buildings. Consequently, the increased expenses associated with elevators hinder market expansion across different regions.
The Integration of Artificial Intelligence (AI) in Elevators is Expected to Create Future Opportunities for the Market
The integration of AI-driven predictive maintenance into the elevator industry presents a compelling opportunity, revolutionizing maintenance and operational practices through advancements in AI. Through the analysis of data collected from elevator sensors, AI algorithms can anticipate maintenance requirements in advance, reducing downtime and maximizing elevator uptime. This proactive approach not only prolongs the lifespan of elevator components but also improves safety by forecasting unforeseen breakdowns and optimizing resource allocation, leading to significant cost savings for elevator companies. Furthermore, well-maintained elevators enhance user satisfaction, thereby elevating the overall experience for building occupants and visitors. Embracing AI-driven predictive maintenance enables elevator firms to stay competitive and uphold service excellence in an ever-changing market environment.
Competitive Landscape
The France elevator market comprises various market players, such as Schindler, Otis Elevator Company, TK Elevator (TKE), Kone Corporation, Hitachi Ltd., Fujitec Co., Ltd, Hyundai elevator Co., Ltd, Mitsubishi Electric Corporation, Toshiba elevator and Building Systems Corporation, Winone elevator Company Limited and others.
France Elevator Market Key Segments
By Type
-
Passenger elevator
-
Freight elevator
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Others
By Technology
-
Traction
-
Machine Room [MR] Traction
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Machine Roomless [MRL] Traction
-
-
Hydraulic
By Service
-
New Installation
-
Maintenance
-
Modernization
By Capacity
-
Less than 1500 kg
-
1500 to 2500 kg
-
2501 to 4000 kg
-
More than 4000 kg
By Speed
-
Less than 1 M/S
-
Between 1 to 4 M/S
-
More than 5 M/S
By Deck Type
-
Single Deck
-
Double Deck
By Designation Control
-
Smart
-
Conventional
By Door Type
-
Automatic
-
Manual
By Application
-
Residential
-
Commercial
-
Industrial
REPORT SCOPE AND SEGMENTATION:
|
Parameters |
Details |
|
Market Size in 2023 |
USD 2.48 Billion |
|
Revenue Forecast in 2030 |
USD 3.85 Billion |
|
Growth Rate |
CAGR of 5.5 % from 2024 to 2030 |
|
Analysis Period |
2023–2030 |
|
Base Year Considered |
2023 |
|
Forecast Period |
2024–2030 |
|
Market Size Estimation |
Billion (USD) |
|
Growth Factors |
|
|
Companies Profiled |
10 |
|
Market Share |
Available for 10 companies |
|
Customization Scope |
Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope. |
|
Pricing and Purchase Options |
Avail customized purchase options to meet your exact research needs. |
KEY PLAYERS
-
Schindler
-
Otis Elevator Company
-
TK Elevator (TKE)
-
Kone Corporation
-
Hitachi Ltd.
-
Fujitec Co., Ltd
-
Hyundai Elevator Co., Ltd
-
Mitsubishi Electric Corporation
-
Toshiba Elevator and Building Systems Corporation
-
Winone Elevator Company Limited
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