UK Elevators and Escalators - Market Size & Forecast 2022-2028

UK Elevators and Escalators - Market Size & Forecast 2022-2028

The report considers the present scenario of the UK elevators & escalators market and market dynamics for 2022−2028. It covers a detailed overview of several growth enablers, restraints, and trends in the market. The study includes the volume and value sales with a segment analysis of the UK elevators & escalators market.

UK Elevators and escalators market is expected to grow at a CAGR of 4.7% during the forecast period.

KEY HIGHLIGHTS IN THE REPORT

• According to the World Economic Forum, more than 500 smart cities are being built around the UK. For instance, the Cloud Valley project launched in April 2021 with a 13 million square feet area that uses Wi-Fi-connected devices and sensors to gather data on everything from people's food habits to pollution.
• In the UK, little over 80% of housing is classified as urban, while 19% is rural. This varies by country, with Wales and Northern Ireland having the most rural areas.
• In 2019, there are about 270 existing high-rise buildings and structures in the UK, with over 70% of them in London. Only 17 high-rise structures in the UK are taller than 150 meters (492 feet), and only one is taller than 300 meters, the Shard in London.
• The latest World Bank Ease of Doing Business, 2021 ranking placed the UK as the eight best in the European Union for dealing with construction permits.
• Nearly USD 2.8 billion will be invested by the government of the UK into building new homes on unused or derelict land in England. According to the government of the UK, 160,000 greener homes are to be built on brownfield land the size of 2,000 football pitches
• According to the Office for National Statistics, the UK's urban area covers around 1.77 million hectares. Natural land cover accounts for 0.54 million hectares (30.7%), compared to 0.53 million (31.0%) in 2017. Scotland has the greenest urban areas on average (36.4%).
• Population projections from 2015 to 2025 demonstrate cities have a percentage growth rate of 7.6% compared to the UK growth rate of 6.7%. Bristol, Greater London, the West Midlands, and Edinburgh city regions all have higher projected population growth rates than the UK. Increasing population to boost urbanization trend which is further likely to surge elevators & escalators market in the UK.

UK ELEVATORS & ESCALATORS MARKET SEGMENTATION

Segmentation by Type

• Hydraulic and Pneumatic
• Machine Room Traction
• Machine Room Less Traction
• Others

Segmentation by carriage Type

• Passenger
• Freight

Segmentation by Person

• 2-15
• 16-24
• 25-33
• 34 and Above

Segmentation by End-User

• Commercial
• Residential
• Industrial
• Others

VENDOR LANDSCAPE

• The key players in the elevator and escalator market in the UK include KONE, Otis, Hyundai Elevator, TK Elevator, Mitsubishi Electric, Hitachi, Schindler, Fujitec, Titan, and UK Lift Escalator.
• UK stands seventh amongst all the European countries in terms of installed base with Spain being top market. The great majority of UK cities, including several very prosperous regions with dense populations, nonetheless have a very low Elevator & Escalator density ratio. As a result, the regions provide opportunities for the country's general density expansion. In the UK, little over 80% of housing is classified as urban, while 19% is classified as rural. This varies by country, with Wales and Northern Ireland having the most rural areas.
• Rail passenger demand is expected to expand by 40% by 2030, and rail freight has the potential to nearly double with unrestricted growth, which could present an opportunity for this market.

Key Vendors

• KONE
• Mitsubishi Electric
• TK Elevator
• Hitachi
• Hyundai Elevator
• Otis
• Fujitec
• Schindler
• Titan Elevators
• UK Lift and Escalator

Other Prominent Vendors

• Stannah Lifts Holdings Ltd
• SJEC
• STANNAH LIFTS HOLDINGS LTD.
• AKE ELEVATOR
• KLEEMANN Aufzüge GmbH
• ORONA
• MORRIS VERMAPORT
• PICKERINGS LIFTS