France Elevator Market

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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 ā€“2030

Industry: Construction & Manufacturing | Publish Date: 07-Dec-2024 | No of Pages: 129 | No. of Tables: 95 | No. of Figures: 60 | Format: PDF | Report Code : CM1617

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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, Fujitec Co. Ltd, Hydroware AB , Mitsubishi Electric Corporation, Toshiba Corporation, ERMHES, KLEEMANN Ascenseurs and others. 

France Elevator Market Key Segments

By Type

  • Passenger elevator

  • Freight elevator

  • Others

By Technology

  • Traction

    • Machine Room [MR] Traction

    • 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

  • Rising Construction Sector Fuels the Growth of the Market

  • Robust Urbanization is Propelling the Growth of the Market.

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

  • Fujitec Co. Ltd

  • Hydroware AB 

  • Mitsubishi Electric Corporation

  • Toshiba Corporation

  • ERMHES

  • KLEEMANN Ascenseurs

Bar chart Pie chart Pie chart

Frequently Asked Questions

The key market players operating in the France elevator market are Schindler, Otis Elevator Company, TK Elevator (TKE), KONE Corporation, Fujitec Co. Ltd, Hydroware ABĀ , Mitsubishi Electric Corporation, Toshiba Corporation, ERMHES, KLEEMANN Ascenseurs, and others.

According to the Next Move Strategy Consulting, the size of the France elevator market is estimated to be at USD 3.85 billion in 2030.

The elevator industry faces a range of challenges, including high costs, technological integration, safety standards, environmental concerns, and maintenance downtimes.

According to the Next Move Strategy Consulting, the size of the France elevator market is estimated at USD 2.48 billion in 2023.

Incorporating AI-driven predictive maintenance into elevators transforms procedures by forecasting maintenance requirements ahead of time through the analysis of sensor data.

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