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Elevator modernization is a process of upgrading the existing elevator to make the elevator safer, more efficient and more attractive.
This report elaborates the market size, market characteristics, and market growth of the Elevators Modernization industry, and breaks down according to the type, application, and consumption area of Elevators Modernization. The report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.
In Chapter 3.4 of the report, the impact of the COVID-19 outbreak on the industry was fully assessed. Fully risk assessment and industry recommendations were made for Elevators Modernization in a special period. This chapter also compares the markets of Pre COVID-19 and Post COVID-19.
In addition, chapters 8-12 consider the impact of COVID-19 on the regional economy.
Key players in the global Elevators Modernization market covered in Chapter 13:
Schindler Group
Wittur Group
KONE Corporation
Johnson Lifts Private Ltd
Otis Elevator Company
Mitsubishi Electric
Hyundai Elevator Co., Ltd.
ThyssenKrupp Elevator AG
Hitachi Ltd
Doppler S.A.
Sematic S.p.A
Richmond Elevator (REM)
Fujitec Co.,Ltd
Magnetek, Inc.
TOSHIBA
In Chapter 6, on the basis of types, the Elevators Modernization market from 2015 to 2025 is primarily split into:
Hydraulic
Traction
In Chapter 7, on the basis of applications, the Elevators Modernization market from 2015 to 2025 covers:
Offices
Malls
Hotels
Others
Geographically, the detailed analysis of production, trade of the following countries is covered in Chapter 4.2, 5:
United States
Europe
China
Japan
India
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions are covered in Chapter 8, 9, 10, 11, 12:
North America (Covered in Chapter 8)
United States
Canada
Mexico
Europe (Covered in Chapter 9)
Germany
UK
France
Italy
Spain
Others
Asia-Pacific (Covered in Chapter 10)
China
Japan
India
South Korea
Southeast Asia
Others
Middle East and Africa (Covered in Chapter 11)
Saudi Arabia
UAE
South Africa
Others
South America (Covered in Chapter 12)
Brazil
Others
Years considered for this report:
Historical Years: 2015-2019
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2020-2025
Table of Content
1 Elevators Modernization Market - Research Scope
1.1 Study Goals
1.2 Market Definition and Scope
1.3 Key Market Segments
1.4 Study and Forecasting Years
2 Elevators Modernization Market - Research Methodology
2.1 Methodology
2.2 Research Data Source
2.2.1 Secondary Data
2.2.2 Primary Data
2.2.3 Market Size Estimation
2.2.4 Legal Disclaimer
3 Elevators Modernization Market Forces
3.1 Global Elevators Modernization Market Size
3.2 Top Impacting Factors (PESTEL Analysis)
3.2.1 Political Factors
3.2.2 Economic Factors
3.2.3 Social Factors
3.2.4 Technological Factors
3.2.5 Environmental Factors
3.2.6 Legal Factors
3.3 Industry Trend Analysis
3.4 Industry Trends Under COVID-19
3.4.1 Risk Assessment on COVID-19
3.4.2 Assessment of the Overall Impact of COVID-19 on the Industry
3.4.3 Pre COVID-19 and Post COVID-19 Market Scenario
3.5 Industry Risk Assessment
4 Elevators Modernization Market - By Geography
4.1 Global Elevators Modernization Market Value and Market Share by Regions
4.1.1 Global Elevators Modernization Value ($) by Region (2015-2020)
4.1.2 Global Elevators Modernization Value Market Share by Regions (2015-2020)
4.2 Global Elevators Modernization Market Production and Market Share by Major Countries
4.2.1 Global Elevators Modernization Production by Major Countries (2015-2020)
4.2.2 Global Elevators Modernization Production Market Share by Major Countries (2015-2020)
4.3 Global Elevators Modernization Market Consumption and Market Share by Regions
4.3.1 Global Elevators Modernization Consumption by Regions (2015-2020)
4.3.2 Global Elevators Modernization Consumption Market Share by Regions (2015-2020)
5 Elevators Modernization Market - By Trade Statistics
5.1 Global Elevators Modernization Export and Import
5.2 United States Elevators Modernization Export and Import (2015-2020)
5.3 Europe Elevators Modernization Export and Import (2015-2020)
5.4 China Elevators Modernization Export and Import (2015-2020)
5.5 Japan Elevators Modernization Export and Import (2015-2020)
5.6 India Elevators Modernization Export and Import (2015-2020)
5.7
6 Elevators Modernization Market - By Type
6.1 Global Elevators Modernization Production and Market Share by Types (2015-2020)
6.1.1 Global Elevators Modernization Production by Types (2015-2020)
6.1.2 Global Elevators Modernization Production Market Share by Types (2015-2020)
6.2 Global Elevators Modernization Value and Market Share by Types (2015-2020)
6.2.1 Global Elevators Modernization Value by Types (2015-2020)
6.2.2 Global Elevators Modernization Value Market Share by Types (2015-2020)
6.3 Global Elevators Modernization Production, Price and Growth Rate of Hydraulic (2015-2020)
6.4 Global Elevators Modernization Production, Price and Growth Rate of Traction (2015-2020)
7 Elevators Modernization Market - By Application
7.1 Global Elevators Modernization Consumption and Market Share by Applications (2015-2020)
7.1.1 Global Elevators Modernization Consumption by Applications (2015-2020)
7.1.2 Global Elevators Modernization Consumption Market Share by Applications (2015-2020)
7.2 Global Elevators Modernization Consumption and Growth Rate of Offices (2015-2020)
7.3 Global Elevators Modernization Consumption and Growth Rate of Malls (2015-2020)
7.4 Global Elevators Modernization Consumption and Growth Rate of Hotels (2015-2020)
7.5 Global Elevators Modernization Consumption and Growth Rate of Others (2015-2020)
8 North America Elevators Modernization Market
8.1 North America Elevators Modernization Market Size
8.2 United States Elevators Modernization Market Size
8.3 Canada Elevators Modernization Market Size
8.4 Mexico Elevators Modernization Market Size
8.5 The Influence of COVID-19 on North America Market
9 Europe Elevators Modernization Market Analysis
9.1 Europe Elevators Modernization Market Size
9.2 Germany Elevators Modernization Market Size
9.3 United Kingdom Elevators Modernization Market Size
9.4 France Elevators Modernization Market Size
9.5 Italy Elevators Modernization Market Size
9.6 Spain Elevators Modernization Market Size
9.7 The Influence of COVID-19 on Europe Market
10 Asia-Pacific Elevators Modernization Market Analysis
10.1 Asia-Pacific Elevators Modernization Market Size
10.2 China Elevators Modernization Market Size
10.3 Japan Elevators Modernization Market Size
10.4 South Korea Elevators Modernization Market Size
10.5 Southeast Asia Elevators Modernization Market Size
10.6 India Elevators Modernization Market Size
10.7 The Influence of COVID-19 on Asia Pacific Market
11 Middle East and Africa Elevators Modernization Market Analysis
11.1 Middle East and Africa Elevators Modernization Market Size
11.2 Saudi Arabia Elevators Modernization Market Size
11.3 UAE Elevators Modernization Market Size
11.4 South Africa Elevators Modernization Market Size
11.5 The Influence of COVID-19 on Middle East and Africa Market
12 South America Elevators Modernization Market Analysis
12.1 South America Elevators Modernization Market Size
12.2 Brazil Elevators Modernization Market Size
12.3 The Influence of COVID-19 on South America Market
13 Company Profiles
13.1 Schindler Group
13.1.1 Schindler Group Basic Information
13.1.2 Schindler Group Product Profiles, Application and Specification
13.1.3 Schindler Group Elevators Modernization Market Performance (2015-2020)
13.2 Wittur Group
13.2.1 Wittur Group Basic Information
13.2.2 Wittur Group Product Profiles, Application and Specification
13.2.3 Wittur Group Elevators Modernization Market Performance (2015-2020)
13.3 KONE Corporation
13.3.1 KONE Corporation Basic Information
13.3.2 KONE Corporation Product Profiles, Application and Specification
13.3.3 KONE Corporation Elevators Modernization Market Performance (2015-2020)
13.4 Johnson Lifts Private Ltd
13.4.1 Johnson Lifts Private Ltd Basic Information
13.4.2 Johnson Lifts Private Ltd Product Profiles, Application and Specification
13.4.3 Johnson Lifts Private Ltd Elevators Modernization Market Performance (2015-2020)
13.5 Otis Elevator Company
13.5.1 Otis Elevator Company Basic Information
13.5.2 Otis Elevator Company Product Profiles, Application and Specification
13.5.3 Otis Elevator Company Elevators Modernization Market Performance (2015-2020)
13.6 Mitsubishi Electric
13.6.1 Mitsubishi Electric Basic Information
13.6.2 Mitsubishi Electric Product Profiles, Application and Specification
13.6.3 Mitsubishi Electric Elevators Modernization Market Performance (2015-2020)
13.7 Hyundai Elevator Co., Ltd.
13.7.1 Hyundai Elevator Co., Ltd. Basic Information
13.7.2 Hyundai Elevator Co., Ltd. Product Profiles, Application and Specification
13.7.3 Hyundai Elevator Co., Ltd. Elevators Modernization Market Performance (2015-2020)
13.8 ThyssenKrupp Elevator AG
13.8.1 ThyssenKrupp Elevator AG Basic Information
13.8.2 ThyssenKrupp Elevator AG Product Profiles, Application and Specification
13.8.3 ThyssenKrupp Elevator AG Elevators Modernization Market Performance (2015-2020)
13.9 Hitachi Ltd
13.9.1 Hitachi Ltd Basic Information
13.9.2 Hitachi Ltd Product Profiles, Application and Specification
13.9.3 Hitachi Ltd Elevators Modernization Market Performance (2015-2020)
13.10 Doppler S.A.
13.10.1 Doppler S.A. Basic Information
13.10.2 Doppler S.A. Product Profiles, Application and Specification
13.10.3 Doppler S.A. Elevators Modernization Market Performance (2015-2020)
13.11 Sematic S.p.A
13.11.1 Sematic S.p.A Basic Information
13.11.2 Sematic S.p.A Product Profiles, Application and Specification
13.11.3 Sematic S.p.A Elevators Modernization Market Performance (2015-2020)
13.12 Richmond Elevator (REM)
13.12.1 Richmond Elevator (REM) Basic Information
13.12.2 Richmond Elevator (REM) Product Profiles, Application and Specification
13.12.3 Richmond Elevator (REM) Elevators Modernization Market Performance (2015-2020)
13.13 Fujitec Co.,Ltd
13.13.1 Fujitec Co.,Ltd Basic Information
13.13.2 Fujitec Co.,Ltd Product Profiles, Application and Specification
13.13.3 Fujitec Co.,Ltd Elevators Modernization Market Performance (2015-2020)
13.14 Magnetek, Inc.
13.14.1 Magnetek, Inc. Basic Information
13.14.2 Magnetek, Inc. Product Profiles, Application and Specification
13.14.3 Magnetek, Inc. Elevators Modernization Market Performance (2015-2020)
13.15 TOSHIBA
13.15.1 TOSHIBA Basic Information
13.15.2 TOSHIBA Product Profiles, Application and Specification
13.15.3 TOSHIBA Elevators Modernization Market Performance (2015-2020)
14 Market Forecast - By Regions
14.1 North America Elevators Modernization Market Forecast (2020-2025)
14.2 Europe Elevators Modernization Market Forecast (2020-2025)
14.3 Asia-Pacific Elevators Modernization Market Forecast (2020-2025)
14.4 Middle East and Africa Elevators Modernization Market Forecast (2020-2025)
14.5 South America Elevators Modernization Market Forecast (2020-2025)
15 Market Forecast - By Type and Applications
15.1 Global Elevators Modernization Market Forecast by Types (2020-2025)
15.1.1 Global Elevators Modernization Market Forecast Production and Market Share by Types (2020-2025)
15.1.2 Global Elevators Modernization Market Forecast Value and Market Share by Types (2020-2025)
15.2 Global Elevators Modernization Market Forecast by Applications (2020-2025)
List of Tables and Figures
Figure Elevators Modernization Picture
Table Elevators Modernization Key Market Segments
Figure Study and Forecasting Years
Figure Global Elevators Modernization Market Size and Growth Rate 2015-2025
Figure Industry PESTEL Analysis
Figure Global COVID-19 Status
Figure Market Size Forecast Comparison of Pre COVID-19 and Post COVID-19
Figure Global Elevators Modernization Value ($) and Growth Rate (2015-2020)
Table Global Elevators Modernization Value ($) by Countries (2015-2020)
Table Global Elevators Modernization Value Market Share by Regions (2015-2020)
Figure Global Elevators Modernization Value Market Share by Regions in 2019
Figure Global Elevators Modernization Production and Growth Rate (2015-2020)
Table Global Elevators Modernization Production by Major Countries (2015-2020)
Table Global Elevators Modernization Production Market Share by Major Countries (2015-2020)
Figure Global Elevators Modernization Production Market Share by Regions in 2019
Figure Global Elevators Modernization Consumption and Growth Rate (2015-2020)
Table Global Elevators Modernization Consumption by Regions (2015-2020)
Table Global Elevators Modernization Consumption Market Share by Regions (2015-2020)
Figure Global Elevators Modernization Consumption Market Share by Regions in 2019
Table Global Elevators Modernization Export Top 3 Country 2019
Table Global Elevators Modernization Import Top 3 Country 2019
Table United States Elevators Modernization Export and Import (2015-2020)
Table Europe Elevators Modernization Export and Import (2015-2020)
Table China Elevators Modernization Export and Import (2015-2020)
Table Japan Elevators Modernization Export and Import (2015-2020)
Table India Elevators Modernization Export and Import (2015-2020)
Table Global Elevators Modernization Production by Types (2015-2020)
Table Global Elevators Modernization Production Market Share by Types (2015-2020)
Figure Global Elevators Modernization Production Share by Type (2015-2020)
Table Global Elevators Modernization Value by Types (2015-2020)
Table Global Elevators Modernization Value Market Share by Types (2015-2020)
Figure Global Elevators Modernization Value Share by Type (2015-2020)
Figure Global Hydraulic Production and Growth Rate (2015-2020)
Figure Global Hydraulic Price (2015-2020)
Figure Global Traction Production and Growth Rate (2015-2020)
Figure Global Traction Price (2015-2020)
Table Global Elevators Modernization Consumption by Applications (2015-2020)
Table Global Elevators Modernization Consumption Market Share by Applications (2015-2020)
Figure Global Elevators Modernization Consumption Share by Application (2015-2020)
Figure Global Offices Consumption and Growth Rate (2015-2020)
Figure Global Malls Consumption and Growth Rate (2015-2020)
Figure Global Hotels Consumption and Growth Rate (2015-2020)
Figure Global Others Consumption and Growth Rate (2015-2020)
Figure North America Elevators Modernization Market Consumption and Growth Rate (2015-2020)
Table North America Elevators Modernization Consumption by Countries (2015-2020)
Table North America Elevators Modernization Consumption Market Share by Countries (2015-2020)
Figure North America Elevators Modernization Consumption Market Share by Countries (2015-2020)
Figure United States Elevators Modernization Market Consumption and Growth Rate (2015-2020)
Figure Canada Elevators Modernization Market Consumption and Growth Rate (2015-2020)
Figure Mexico Elevators Modernization Market Consumption and Growth Rate (2015-2020)
Figure North America COVID-19 Status
Figure Europe Elevators Modernization Market Consumption and Growth Rate (2015-2020)
Table Europe Elevators Modernization Consumption by Countries (2015-2020)
Table Europe Elevators Modernization Consumption Market Share by Countries (2015-2020)
Figure Europe Elevators Modernization Consumption Market Share by Countries (2015-2020)
Figure Germany Elevators Modernization Market Consumption and Growth Rate (2015-2020)
Figure United Kingdom Elevators Modernization Market Consumption and Growth Rate (2015-2020)
Figure France Elevators Modernization Market Consumption and Growth Rate (2015-2020)
Figure Italy Elevators Modernization Market Consumption and Growth Rate (2015-2020)
Figure Spain Elevators Modernization Market Consumption and Growth Rate (2015-2020)
Figure Europe COVID-19 Status
Figure Asia-Pacific Elevators Modernization Market Consumption and Growth Rate (2015-2020)
Table Asia-Pacific Elevators Modernization Consumption by Countries (2015-2020)
Table Asia-Pacific Elevators Modernization Consumption Market Share by Countries (2015-2020)
Figure Asia-Pacific Elevators Modernization Consumption Market Share by Countries (2015-2020)
Figure China Elevators Modernization Market Consumption and Growth Rate (2015-2020)
Figure Japan Elevators Modernization Market Consumption and Growth Rate (2015-2020)
Figure South Korea Elevators Modernization Market Consumption and Growth Rate (2015-2020)
Figure Southeast Asia Elevators Modernization Market Consumption and Growth Rate (2015-2020)
Figure India Elevators Modernization Market Consumption and Growth Rate (2015-2020)
Figure Asia Pacific COVID-19 Status
Figure Middle East and Africa Elevators Modernization Market Consumption and Growth Rate (2015-2020)
Table Middle East and Africa Elevators Modernization Consumption by Countries (2015-2020)
Table Middle East and Africa Elevators Modernization Consumption Market Share by Countries (2015-2020)
Figure Middle East and Africa Elevators Modernization Consumption Market Share by Countries (2015-2020)
Figure Saudi Arabia Elevators Modernization Market Consumption and Growth Rate (2015-2020)
Figure UAE Elevators Modernization Market Consumption and Growth Rate (2015-2020)
Figure South Africa Elevators Modernization Market Consumption and Growth Rate (2015-2020)
Figure South America Elevators Modernization Market Consumption and Growth Rate (2015-2020)
Table South America Elevators Modernization Consumption by Countries (2015-2020)
Table South America Elevators Modernization Consumption Market Share by Countries (2015-2020)
Figure South America Elevators Modernization Consumption Market Share by Countries (2015-2020)
Figure Brazil Elevators Modernization Market Consumption and Growth Rate (2015-2020)
Table Schindler Group Company Profile
Table Schindler Group Production, Value, Price, Gross Margin 2015-2020
Figure Schindler Group Production and Growth Rate
Figure Schindler Group Value ($) Market Share 2015-2020
Table Wittur Group Company Profile
Table Wittur Group Production, Value, Price, Gross Margin 2015-2020
Figure Wittur Group Production and Growth Rate
Figure Wittur Group Value ($) Market Share 2015-2020
Table KONE Corporation Company Profile
Table KONE Corporation Production, Value, Price, Gross Margin 2015-2020
Figure KONE Corporation Production and Growth Rate
Figure KONE Corporation Value ($) Market Share 2015-2020
Table Johnson Lifts Private Ltd Company Profile
Table Johnson Lifts Private Ltd Production, Value, Price, Gross Margin 2015-2020
Figure Johnson Lifts Private Ltd Production and Growth Rate
Figure Johnson Lifts Private Ltd Value ($) Market Share 2015-2020
Table Otis Elevator Company Company Profile
Table Otis Elevator Company Production, Value, Price, Gross Margin 2015-2020
Figure Otis Elevator Company Production and Growth Rate
Figure Otis Elevator Company Value ($) Market Share 2015-2020
Table Mitsubishi Electric Company Profile
Table Mitsubishi Electric Production, Value, Price, Gross Margin 2015-2020
Figure Mitsubishi Electric Production and Growth Rate
Figure Mitsubishi Electric Value ($) Market Share 2015-2020
Table Hyundai Elevator Co., Ltd. Company Profile
Table Hyundai Elevator Co., Ltd. Production, Value, Price, Gross Margin 2015-2020
Figure Hyundai Elevator Co., Ltd. Production and Growth Rate
Figure Hyundai Elevator Co., Ltd. Value ($) Market Share 2015-2020
Table ThyssenKrupp Elevator AG Company Profile
Table ThyssenKrupp Elevator AG Production, Value, Price, Gross Margin 2015-2020
Figure ThyssenKrupp Elevator AG Production and Growth Rate
Figure ThyssenKrupp Elevator AG Value ($) Market Share 2015-2020
Table Hitachi Ltd Company Profile
Table Hitachi Ltd Production, Value, Price, Gross Margin 2015-2020
Figure Hitachi Ltd Production and Growth Rate
Figure Hitachi Ltd Value ($) Market Share 2015-2020
Table Doppler S.A. Company Profile
Table Doppler S.A. Production, Value, Price, Gross Margin 2015-2020
Figure Doppler S.A. Production and Growth Rate
Figure Doppler S.A. Value ($) Market Share 2015-2020
Table Sematic S.p.A Company Profile
Table Sematic S.p.A Production, Value, Price, Gross Margin 2015-2020
Figure Sematic S.p.A Production and Growth Rate
Figure Sematic S.p.A Value ($) Market Share 2015-2020
Table Richmond Elevator (REM) Company Profile
Table Richmond Elevator (REM) Production, Value, Price, Gross Margin 2015-2020
Figure Richmond Elevator (REM) Production and Growth Rate
Figure Richmond Elevator (REM) Value ($) Market Share 2015-2020
Table Fujitec Co.,Ltd Company Profile
Table Fujitec Co.,Ltd Production, Value, Price, Gross Margin 2015-2020
Figure Fujitec Co.,Ltd Production and Growth Rate
Figure Fujitec Co.,Ltd Value ($) Market Share 2015-2020
Table Magnetek, Inc. Company Profile
Table Magnetek, Inc. Production, Value, Price, Gross Margin 2015-2020
Figure Magnetek, Inc. Production and Growth Rate
Figure Magnetek, Inc. Value ($) Market Share 2015-2020
Table TOSHIBA Company Profile
Table TOSHIBA Production, Value, Price, Gross Margin 2015-2020
Figure TOSHIBA Production and Growth Rate
Figure TOSHIBA Value ($) Market Share 2015-2020
Figure North America Market Consumption and Growth Rate Forecast (2020-2025)
Figure Europe Market Consumption and Growth Rate Forecast (2020-2025)
Figure Asia-Pacific Market Consumption and Growth Rate Forecast (2020-2025)
Figure Middle East and Africa Market Consumption and Growth Rate Forecast (2020-2025)
Figure South America Market Consumption and Growth Rate Forecast (2020-2025)
Table Global Elevators Modernization Market Forecast Production by Types (2020-2025)
Table Global Elevators Modernization Market Forecast Production Share by Types (2020-2025)
Table Global Elevators Modernization Market Forecast Value ($) by Types (2020-2025)
Table Global Elevators Modernization Market Forecast Value Share by Types (2020-2025)
Table Global Elevators Modernization Market Forecast Consumption by Applications (2020-2025)
Table Global Elevators Modernization Market Forecast Consumption Share by Applications (2020-2025)
Research Methodology:
Elevators Modernization Market Size Estimation
To estimate market size and trends, we use a combination of top-down and bottom-up methods. This allows us to evaluate the market from various perspectives—by company, region, product type, and end users.
Our estimates are based on actual sales data, excluding any discounts. Segment breakdowns and market shares are calculated using weighted averages based on usage rates and average prices. Regional insights are determined by how widely a product or service is adopted in each area.
Key companies are identified through secondary sources like industry reports and company filings. We then verify revenue estimates and other key data points through primary research, including interviews with industry experts, company executives, and decision-makers.
We take into account all relevant factors that could influence the market and validate our findings with real-world input. Our final insights combine both qualitative and quantitative data to provide a well-rounded view. Please note, these estimates do not account for unexpected changes such as inflation, economic downturns, or policy shifts.
Data Source
Secondary Sources
This study draws on a wide range of secondary sources, including press releases, annual reports, non-profit organizations, industry associations, government agencies, and customs data. We also referred to reputable databases and directories such as Bloomberg, Wind Info, Hoovers, Factiva, Trading Economics, Statista, and others. Additional references include investor presentations, company filings (e.g., SEC), economic data, and documents from regulatory and industry bodies.
These sources were used to gather technical and market-focused insights, identify key players, analyze market segmentation and classification, and track major trends and developments across industries.
Market Size |
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Market Position of Top Company |
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Qualitative Analysis |
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Primary Sources
As part of our primary research, we interviewed a variety of stakeholders from both the supply and demand sides to gather valuable qualitative and quantitative insights.
On the supply side, we spoke with product manufacturers, competitors, industry experts, research institutions, distributors, traders, and raw material suppliers. On the demand side, we engaged with business leaders, marketing and sales heads, technology and innovation directors, supply chain executives, and end users across key organizations.
These conversations helped us better understand market segmentation, pricing, applications, leading players, supply chains, demand trends, industry outlook, and key market dynamics—including risks, opportunities, barriers, and strategic developments.
Key Data Information from Primary Sources
Primary Sources | Parameters | Key Data |
Market Segments(by Application, by Type) |
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Total Market |
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