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Summary
The global elevator market, valued at USD 82.28 billion in 2020, is experiencing robust growth, driven largely by China, India, and the US. It is projected to reach USD 96.75 billion by 2027, growing at a CAGR of over 2.3%. The French market mirrors this trend with a focus on the maintenance and modernization of its aging lift infrastructure.
The French lift market recorded a turnover of approximately 2.7 billion euros in 2020, with maintenance accounting for 70% of lift companies' revenue. Despite the COVID-19 pandemic, demand for lifts remains high in France, influenced by the population's preference for lift access in lower-rise buildings. The market is led by the French subsidiaries of global giants Otis, ThyssenKrupp, Kone, and Schindler, alongside numerous smaller local companies.
Regulation plays a key role in shaping the industry, with stringent safety and maintenance mandates ensuring the well-being of lift users. Innovations in technology, such as energy-efficient models and smart maintenance systems, are constantly evolving to meet the challenges of urbanization and sustainability.
Market dynamics of the French Elevator Industry
The French elevator industry has demonstrated considerable consistency, marked by a steady pattern of demand primarily steered by maintenance and modernization of the existing stock. It's interesting to note that France sees an average of 100 million elevator trips daily, highlighting the extent to which the vertical mobility technology is embedded in the day-to-day life of its citizens. With an impressive fleet of more than 600,000 lifts, the market's vibrancy is pervasive.
An attention-grabbing statistic from the Fédération des ascenseurs points out that over half of the elevators in France have surpassed 25 years in service, and a quarter have been operational for over 40 years—underscoring the ongoing necessity for upgrades and repairs. This aging infrastructure underlines the significance of renovation.
Even though the annual installation of new lifts hovers around the 11,000 to 12,000 mark, the French market remains relatively untapped compared to its European neighbors, with roughly between seven and nine lifts per 1,000 inhabitants, a figure that pales in comparison to between 10 and 12 per 1,000 inhabitants seen in Germany.
This market trajectory is largely fueled by burgeoning demands in China, India, and the US. Europe, the Middle East, and Africa collectively form a substantial portion of the global market, with a valuation amounting to 37% of global value. France's trade balance for lifts remains positive, with exports surpassing imports and a coverage rate that witnessed a rebound to 165.4% in 2020. Noteworthy is France's pivot in trade relations, with Germany overtaking the United Kingdom post-Brexit as the primary export destination, accounting for almost half of France's lift exports.
Dominance of Global Giants in the French Elevator Market
In the realm of elevators and lifts, France is a playing field for some significant global players. These established entities command the market with a comprehensive grasp of the value chain, incorporating manufacturing, maintenance, and modernization services.
At the pinnacle of this industry are four major conglomerates, each a subsidiary of an international behemoth that has implanted deep roots in French soil.
- Otis Elevator Company, originating from the United States, stands tall among its competitors. This pioneer in elevator technology continues to innovate and provide cutting-edge solutions for vertical transportation. Otis is renowned for its reliable and efficient products, which grace many of the country's skyscrapers and residential buildings.
- ThyssenKrupp Elevator emerges from Germany, bringing with it a legacy of engineering excellence and robust industrial expertise. ThyssenKrupp's portfolio demonstrates their capability to offer tailored solutions suitable for a broad array of elevator requirements, catering to modern urban infrastructure demands.
- KONE, with its origins in Finland, has established itself as a leader in eco-efficient solutions. The company prides itself on innovations that reduce the environmental impact while enhancing the user experience. KONE's focus on sustainable design and energy-efficient lifts underpins its established market presence.
- Schindler Group, hailing from Switzerland, completes the quartet of the primary market dominators. Schindler's commitment to mobility with precision and safety underlines their offerings. With a diverse array of products for different building types, Schindler ensures a seamless and secure vertical journey for its users.
These four titans, supported by their extensive experience and international resources, continue to hold the lion's share of the French elevator market. Their dominance is challenged by numerous smaller local companies which operate on a more regional scale. Nevertheless, the top-tier players remain unchallenged in their comprehensive offerings and their ability to steer market trends. The elevator market in France, thus, upholds an image of an industry ruled by time-tested giants, a testament to the grandeur and sustainability of global enterprises in a competitive, ever-evolving sector.
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- Last update : 17/10/2023
Summary and extracts
1 Market overview
1.1 Definition and scope of the study
The elevator is a mobile device for moving people or objects along a predefined axis within a vertical structure. Lifts can be put to two different uses:
- Use on a small number of floors in public places such as metro stations, railway stations or shops. However, this use faces competition from escalators that allow a faster flow while reducing waiting times.
- Use on a large number of floors in residential and office buildings/skyscrapers but also car parks, hotels and hospitals. This use has less competition from escalators because the elevator is faster (speed proportional to the height of the skyscraper towers) and can generally carry a larger number of people.
According to the Fédération des ascenseurs, the lift market in France represents 100 million trips per day for more than 600,000 lifts installed. The number of lifts in France is ageing (more than 50% of lifts are over 25 years old and 25% are over 40 years old). With only about 11 to 12,000 new lifts installed per year in France, the market challenge is in fact very much linked to the modernisation, maintenance and repair of existing lifts, since this segment occupies 70% of the sector's workforce.
The French lift market is particularly concentrated and is dominated by the French subsidiaries of the four world majors: the American Otis, the German ThyssenKrupp, the Finnish Kone and the Swiss Schindler. Alongside these groups, which control the entire value chain, from manufacturing to maintenance and modernisation, there are many small and medium-sized companies operating on a local scale.
The numerous takeovers show that the lift market is becoming increasingly concentrated around the world leaders who are internalising maintenance and repair activities. Lastly, the future of the lift market in France will depend largely on the regulation of safety work on the stock already installed.
List of charts
- World market for elevators
- Market breakdown of elevators and escalators
- Part de marché des ascenseurs selon l'usage
- Evolution of the elevator market turnover
- Foreign trade in lifts
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