As of 2023, the global elevator market is estimated to be valued at $54.1 billion, with a projected 5.35% CAGR leading to a potential market size of over $86 billion by 2032. China remains the dominant exporter with 2022 exports valued at $1.69 billion, while the United Kingdom tops imports at $376.8 million. In the European market, ELA reports a total of 6,622,239 existing elevators and 145,400 units under construction as of 2022. Spain boasts the largest number of elevators installed in the region. Italy, as part of this market, observed a decline in the number of active enterprises from 1509 to 1158 between 2017 and 2021, yet employment in the sector increased to 33,550 people. The country is a net exporter of elevators, with the export value at $534.7 million and import value at $86.8 million in 2022. The Italian industry turnover grew to €10.8 billion in 2021, despite a decrease in the production sold value of elevators from €314.3 million in 2015 to €204.6 million in 2022. Finally, the Russian-Ukrainian conflict contributed to a 16.6% rise in Italy's producer price index by December 2023..Italian Elevator Market: A Comprehensive Analysis of Consumer Trends and Competitive Dynamics Within Italy, the elevator market showcases a nuanced picture, marked by certain key trends in consumption, competitive landscapes, and growth prospects. As of 2023, the global market for elevators holds an estimated value of around $54.1 billion, with predictions for continued expansion at a compound annual growth rate of approximately 5.35% stretching from 2023 to 2032. This expected growth could potentially elevate the market's worth to over $86 billion by the end of the forecast period. The Italian segment of the elevator industry is experiencing fluctuating trends. Between 2015 and 2022, the value of production sold of elevators and hoists appears to be contracting, with the total value dropping from roughly $314.3 million to about $204.6 million, which signifies a decrease of approximately 35%. However, this decline in production sold contrasts with total industry turnover, which appears to be on the rise. From 2015 to 2021, the overall turnover of companies operating within this sector grew by about 33%, from nearly $8.1 billion to around $10.8 billion. While the number of enterprises dedicated to the manufacture of elevators and hoists saw a notable decrease between 2017 and 2021, sliding from about 1500 to just under 1200 enterprises, the number of employees in the sector seems to be inching upwards, showing a growth of roughly 4% over the same period. In terms of trade, Italy maintains a position as a net exporter in the elevator market, with an export coverage ratio fluctuating between 616% to over 2240% from 2018 to 2022. Despite a slight downturn in export values, which fell from approximately $601 million to just over $500 million during this timeframe, Italy's import values witnessed a significant ascendancy of around 92%, growing from about $45 million to near $87 million. The Italian market for elevators is segmented notably, with both major Italian and foreign players. Italian companies, such as Kone s.p.a and Schindler s.p.a, lead the charge with annual turnovers of roughly $230.6 million and $224.2 million, respectively, followed by other significant entities such as Otis Servizi and TK Elevator. Foreign companies like Montanari Giulio & C. and E.P Elevatori Premontati also strongly contribute to the market dynamics. Regulatory aspects play.Leading Innovators and Key Players in the Italian Elevator Market **Elevating Excellence: Italy’s Finest Champions of Vertical Mobility** Italy’s elevator market exemplifies a blend of heritage, innovation, and technical virtuosity, represented by several prominent companies that have become synonymous with excellence in vertical transportation. These frontrunners have elevated the standards of mobility solutions, not only within the peninsular bounds but across the globe, marking Italy's indelible footprint in the elevator industry. **Kone s.p.a.** - A Foundation of Innovation Kone, with its centennial foundation, epitomizes the innovation that drives urban flow. The company's expansive product range touches all facets of vertical mobility from personal residence elevators to state-of-the-art solutions for skyscrapers and urban transport systems. Known for its pioneering efforts in cutting-edge technology and unwavering commitment to safety and sustainability, Kone continues to shape the future of smart, interconnected buildings. **Schindler s.p.a.** - A Dedication to Advanced Mobility Part of the global Schindler Group, Schindler s.p.a. upholds a reputation for providing sophisticated vertical transportation systems. The company stands out for its dedication to safety, reliability, and a seamless user experience. Its portfolio consists of diverse products catering to private homes and large-scale infrastructure projects. With sustainability ingrained in its philosophy, Schindler actively pursues eco-friendly solutions and technological enhancements to contribute to sustainable urban development. **Montanari Giulio & C. s.r.l.** - Component Excellence Montanari Giulio & C. s.r.l. has carved a niche for itself as a specialist in the production of high-quality elevator components. Their comprehensive range, inclusive of motors, gearboxes, and safety systems, demonstrates their expertise and innovation capabilities. The company’s understanding of the nuanced requirements of the elevator industry is evident in their dedication to providing top-tier customer service and technical assistance. **E.P Elevatori Premontati s.r.l.** - Tailored Vertical Solutions E.P Elevatori Premontati s.r.l. prides itself on crafting custom elevator solutions that harmonize with individual client specifications. Their approach to incorporating design finesse with technical robustness ensures a diverse product line tailored to enhance both residential and commercial spaces. Their focus on detail, coupled with a dedication to customer satisfaction, positions E.P. as a go-to for preassembled elevators and modernized lift systems. **Del Bo s.p.a.** -

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Summary and extracts

1 Market Overview

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.

In 2023 the global elevator market is estimated at 54.1 billion dollars. A compound annual growth rate (CAGR) of 5.35% is projected for the period 2023-2032, under which the world elevator market could reach a total value of more than 86 billion dollars.In 2022, China is by far the world's largest exporter of elevators. In the year analyzed, the country exported elevators with a total value of $1.69 billion. Also in 2022, the United Kingdom is the world's largest importer of elevators. In the year analyzed, the value of the country's imports was $376.8 million.

This study focuses on the specific market of elevators Italy, analyzing consumption trends, competitive dynamics and growth prospects of the industry. For information on related markets, see the specific studies available in the Businesscoot catalog.

1.2 The global market

In ****, the world elevator market is estimated at $**.* billion. A compound annual growth rate (***) of *.**% is projected for the period ****-****, under which the world elevator market could reach a total value of more than $** billion at the end of the period. Elevator Market World, ****-****, in billions of dollars Marketresearchfuture China ...

1.3 The Italian market

to analyze the Italian elevator market, trends in the value of production sold of elevators and hoists and trends in total turnover related to enterprises under Ateco Code **.** "Manufacture of lifting and handling machinery and apparatus" are analyzed.

Regarding the first aspect, between **** and **** the value of production sold of elevators ...

1.4 The trade balance of the elevator market

HS Code ****** "Elevators and hoists" is considered for the analysis of outbound and inbound trade flows related to elevators. Italy's trade position falls into the category of net exporter: between **** and ****, the export coverage ratio, determined by the ratio of exports to imports molit multiplied by ***, fluctuated between ***% and ****.*%. Specifically, during ...

1.5 The consequences of the Russian-Ukrainian conflict

The outbreak of the Russian-Ukrainian conflict in February **** led to, among other things, a general increase in price indexes. The sector related to the manufacture of lifting and handling machinery and equipment is not exempt from this increase. Between January **** and December ****, the producer price index rose from ***.* points to ***.* points, ...

2 Demand analysis

2.1 Demand in Italy

In order to analyze the demand for elevators in Italy, trends in the number of installed systems and trends in the number of new residential and nonresidential buildings are analyzed.

Regarding the first point, in **** Italy is the second largest European country in terms of the number of elevators installed, amounting ...

2.2 Demand drivers

For the analysis of demand drivers, the age of elevators in operation in Italy in **** and the evolution of the over-** population, the main segment of elevator demand in the residential real estate sector, are analyzed.

Regarding the first aspect, the average age of elevators in **** is shown to be very ...

2.3 Geographical distribution of demand

In order to visualize the geographical distribution of demand, two maps were created with the geographical distribution of new residential and nonresidential buildings built in Italy in ****.

As for residential properties, **.* percent of the **,*** new buildings are concentrated in the Northwest of the peninsula; in the Northeast the share is **.* percent. ...

2.4 New demand trends: energy conservation

Energy-efficient elevators are a growing trend in the elevator industry in response to increased consumer awareness of energy efficiency and environmental impact. These modern elevators feature innovative technologies that significantly reduce energy consumption compared to traditional models. One of the recent developments in this area is the introduction of next-generation control ...

3 Market structure

3.1 The market structure

For the analysis of the structure of the elevator market in Italy, enterprises under Ateco Code **.**.* "Manufacture of lifting and handling machinery and equipment" are considered. In particular, the number of active enterprises, the number of employees in active enterprises and the legal form of different activities are analyzed.

Number of ...

3.2 The value chain

The value chain in the elevator market can be detailed as follows

Research and development (***): innovations for safety, energy efficiency, and design. Design and engineering: creating technical drawings and specifications for each project. Material procurement: purchasing components such as motors, cables, and control panels. Manufacturing and assembly: construction of elevators, with ...

3.3 The main manufacturers

A list of the main players active in the production of elevators and freight elevators in Italy is offered below:

Kone s.p.a: founded in ****, is a leading global company in the field of elevators, escalators and automatic doors. Its mission is to improve urban flow through innovative and sustainable ...

3.4 Installation, repair and maintenance

The following is a proposed list of major players active in the installation, repair and maintenance of elevators and escalators:

Otis Servizi s.r.l: part of the U.S. giant OTIS and founded in ****, specializes in services related to elevator systems, including installation, maintenance and repair of elevators and escalators. ...

4 Supply analysis

4.1 Type of the offer

In today's market, there is a wide range of elevators, each designed to meet specific needs. These types vary in technology, capacity, speed, and application. Knowing the different types of elevators, such as traction, hydraulic, pneumatic, and many others, is crucial to choosing the most suitable solution depending on the building ...

4.2 The prices

The average price for some elevator types (***) is proposed below:

Indoor elevators


Outdoor elevators


4.3 New supply trends: Internet of Things

IoT (***)

In ****, the global IoT market for elevators reached a total value of $**.** billion. Sustained growth in the industry is expected in the near future through a compound annual growth rate (***) of **.**%. By ****, the global IoT market for elevators could reach a value of more than $** billion.

IoT market for elevators World, ...

5 Regulations

5.1 The legislation

The manufacture, installation and maintenance of elevators and elevators are subject to both European and national regulations. The legislative framework that is outlined is aimed at ensuring the safety and proper operation of the systems. Some of the main legislative aspects are:

Directive ****/**/EU: for the harmonization of the laws of ...

5.2 The architectural barriers bonus

The Budget Law **** of December ****, introduced important changes regarding tax breaks for the removal of architectural barriers. TheLift Bonus ****, is valid in **** and has been extended until ****, allowing a **% deduction on expenses for the installation of systems aimed at eliminating obstacles to mobility, as specified below, facilitating access to people with ...

6 Positioning of actors

6.1 Segmentation

  • Kone s.p.a
  • Schindler s.p.a
  • Otis Servizi s.r.l
  • TK Elevator Italia s.p.a
  • Montanari Giulio & C. s.r.l
  • E.P Elevatori Premontati s.r.l
  • Del Bo s.p.a
  • C.M.A Costruzioni Montacarichi ed Ascensori s.r.l

List of charts

  • Elevator market
  • Major exporting countries of elevators and hoists
  • Main importing countries for elevators and hoists
  • Installed elevators, breakdown by country
  • Active enterprises under Ateco Code 28.22.0 "Manufacture of lifting and handling machinery and equipment"
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Companies quoted in this study

This study contains a complete overview of the companies in the market, with the latest figures and news for each company. :

Kone s.p.a
Schindler s.p.a
Otis Servizi s.r.l
TK Elevator Italia s.p.a
Montanari Giulio & C. s.r.l
E.P Elevatori Premontati s.r.l
Del Bo s.p.a
C.M.A Costruzioni Montacarichi ed Ascensori s.r.l

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