1.1 Definition and presentation
An elevator is a mobile device for moving people or objects along a predefined axis within a vertical structure. Elevators can be installed for two main uses: on the one hand, use on a small number of floors in public areas such as subway stations, train stations, and stores. This use faces competition from escalators, which in turn allow faster flow by reducing waiting times. On the other hand, elevators can be used where there are a large number of floors in residential and office buildings or high-rise buildings, as well as in parking lots, hotels, and hospitals. This use has less competition than escalators, since the elevator is faster (speed proportional to the height of the building) and can generally carry a large number of people.
The size of the global elevator market has been estimated at $82.29 billion in 2020, and it is expected to grow at a CAGR of 2.5 percent over the period 2021-2027.
Today, there are more than one million elevator systems in operation in Italy, making the country the second largest market in the world after China-which, however, has more than one billion people to move. However, the characteristics of the Chinese market are very different from those of Italy. In fact, China is a new high-growth market where the population is rapidly urbanizing. Therefore, the construction of multi-story buildings is accompanied by the installation of brand new elevator systems, which determine China's primacy in this market. On the other hand, in Italy most of the revenue comes from maintenance, renovation and retrofit of existing systems.
Given the type of market developed in Italy for elevator systems, it is easy to understand why, in the country, there are more than 1,500 companies specializing in the sector, but with a total of just 23,000 employees. For the most part, these are small installers and micro-companies specializing in maintenance.
1.2 The global elevator market is growing rapidly, led by China and India
In ****, the global elevator market was estimated at $**.** billion. This market is mainly driven by China, India, and the United States, and is expected to grow fairly steadily over the ****-**** period (***) to reach $**.** billion by ****.
World elevator market World, ****-****, in billions of dollars Source: ****
Breakdown of the elevator and ...
1.3 The national elevator market
Italy is a major player in the elevator market. In fact, the country has nearly *,***,*** installations that make one hundred million rides every day. In ****, the turnover generated by elevator and escalator manufacturing companies was *.** billion euros. The trend compared to **** is negative, in fact, the market lost *.* percent of its ...
1.4 The trade balance of the elevator market
In ****, the balance of Italian trade flows generated by the axe market was:
*** million euros for exports *** million euros for imports
Italy's main partners in terms of trade are:
Exports of elevators manufactured in Italy Italy, ****, in % Source: ****
For exports (***), it can be seen that the market is quite competitive, ...
2.1 Elevators as a means of inclusion of people with reduced mobility
Istat data show that the resident population in Italy in **** was **.* million people, of these, again from Istat data, *.* percent have a disability that limits the performance of usual activities. This percentage corresponds to *.** million people.
This study of the elevator market sees as its main clientele people with reduced motor ...
2.2 Construction slowed down by Covid-19
The elevator industry has been heavily affected by the Covid-** pandemic, both because of the effect of human presence within the small space of the cabin and the high traffic flow within it. Healthy environments appeared to be a top priority for elevators as well.
Beyond all the market influences observed ...
2.3 The maintenance of elevators
Elevators in Italy were built, for the most part, in the past millennium, so in order to avoid accidents, elevators undergo several overhauls and maintenance.
Period of construction of elevators still in use in Italy Italy, ****-****, in % Source: ****
From the graph above, it is possible to see the year of ...
3.1 The characteristics of the Italian market
The elevator manufacturing companies in the Italian territory generated a turnover of *.** billion euros in ****, this result corresponds to Ateco Code **.**, which includes all hoisting machinery.
The following graph, on the other hand, has a much more specific Ateco Code, which makes it possible to isolate the value of production of ...
3.2 The main global players in the industry
The main companies in the Italian market:
The elevator market is dominated by four global giants: the American Otis, Germany's ThyssenKrupp, Finland's Kone, and Switzerland's Schindler. Between them, the four account for ** percent of the market in Europe, leaving only ** percent of the market to small and medium-sized companies, which account ...
4.1 Producer prices
The elevator market is not a market that directly affects the Italian population, in fact it is a B*B market, it is other companies that buy elevators for their facilities (***). For this reason, this part on industry price trends is about the prices charged at production.
In the last six ...
4.2 Types of elevators
This type of elevator is driven by an electric motor that allows movement both up and down, plus, the electric elevator does not require an external machine room.
The parts that make up this type of elevator are:
Winch or lifting machinery Passenger cabin Counterweight that also allows balancing ...
4.3 Industry innovations
Advances in technology enable systems and equipment within a building to communicate with each other, send real-time status updates to the cloud, and make user convenience, safety, and comfort the top priority. Sensors, connected systems, and big data analytics are driving the transformation of all types of technology, and the elevator ...
5.1 Security Regulations
For elevator maintenance in accordance with Presidential Decree ***/**, the maintenance technician must perform two distinct types of activities on the installation:
Preventive maintenance visits, aimed at verifying the regular operation of the main components of the installation, in particular the landing doors and locks, the state of preservation of ...
5.2 The architectural barriers bonus
The Budget Law **** introduces an ad hoc incentive to break down architectural barriers by building or replacing elevators or freight elevators, found in apartment buildings for example.
The Bonus has an expenditure ceiling for condominiums: it is **,*** euros for single-family buildings or building units located within multi-family buildings that are functionally ...
6.1 Segmentation of actors
- Otis France
- KONE France
- Schindler France
- TK Elevator (ThyssenKrupp)
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