Press Release

Indonesia Elevator & Escalator Market is expected to grow at a 4.8% CAGR.

Rising development of high-rise commercial and residential buildings coupled with increasing capital inflow into the real-estate sector are expected to propel the Indonesia Elevator and Escalator Market during the forecast perio.


According to TechSci Research report, “Indonesia Elevator & Escalator Market – By Region, Competition, Forecast and Opportunities, 2018-2028”, Nusantara, Indonesia's new capital, spanning over a 6.6-hectare government zone, will house 184 residential building towers, which is yet to begin in Q2 2023. These residential buildings will accommodate ministries, the State Palace, the House of Representatives, and housing for some 50,000 civil servants and 500,000 residents. The project relies on around 80% of private investment, with an investment of USD 32 billion. The government offers companies tax relief for 30 years and a 350% super-tax deduction for expenditure on research and development if companies tend to invest in the planned new capital city. Lido City, located around 60 km from the present capital, will span over an area of 30 sq. km and be a tourism special economic zone. MNC is developing this project with an investment of USD 2 billion will comprise the construction of a movie production complex, a golf course, a hotel, a resort, and a music and arts center.

Such development will support the Indonesia elevator and escalator market growth. This development was signed off in June 2021 to draw the attention of local and international tourists and engage six-seven million visitors annually in the next five years. The ultra-light UltraRope technology offers unparalleled eco-efficiency, dependability, and longevity in elevators while significantly enhancing their performance. It addresses the problems of traditional steel ropes, including excessive energy consumption, rope stretch, enormous moving masses, and building sway-related downtime. UltraRope allows the elevator to travel at the height of about 1,000 meters. With the increasing number of high-rise commercial and residential buildings, the need for UltraRope is also increasing. Thus, companies are integrating this technology in their new launches.


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Key market players in the Indonesia Elevator & Escalator Market are: -

  • KONE Corporation
  • Hitachi Group
  • Otis Elevator Company (UTC)
  • Mitsubishi Electric Corporation
  • Schindler Holding Ltd.
  • Fujitec Company Limited
  • thyssenkrupp AG
  • Toshiba Elevator and Building Systems Corporation


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“Indonesia elevator & escalator market was valued USD 0.30 Billion in 2019 and is expected to be valued USD 0.43 Billion, in term of valueby 2025. Key factors propelling the growth of Indonesia elevator & escalator market are rapid infrastructural development, increased inflow of FDI funding in construction sector and construction of high-rise residential complexes in order to accommodate the growing population of the country. Apart from that, decline in import taxes and free trade agreements with other Southeast Asian countries are also providing profitable opportunities for elevator & escalator manufacturers operating in Indonesia. Additionally, Indonesia is currently has more than 300 active large-scale construction projects which are creating high demand for elevators and escalators. Along with that, growth in real estate sector and development of new airports and railroads are some other major factors boosting the growth of Indonesia elevator & escalator market.

Indonesia elevator & escalator market can be segmented based on type, service, elevator technology, elevator door, end user and region. Based on service, the market can be categorized into maintenance & repair, new installation and modernization. Among them, in 2019, modernization and maintenance & repair segment together accounted for 63.11% market share in terms of value. The segment is further expected to dominate the market through 2025 on account of growing focus of government on restoration and renovation of old buildings in the country. Based on end user, Indonesia elevator & escalator market is split into residential, commercial, institutional, infrastructural and others. Among them, the residential sector is expected to dominate the market during the forecast period owing to rising development of high-rise residential buildings in the country as well as favourable government policies such as introduction of One Million Houses (OMH) programme per year. Major companies operating in Indonesia elevator & escalator market include KONE Corporation, Hitachi Group, Otis Elevator Company (UTC), Mitsubishi Electric Corporation, Schindler Holding Ltd., Hyundai Elevator, thyssenkrupp AG and Toshiba Elevator and Building. Systems Corporation, among others. Furthermore, leading companies are investing on latest technology in order to introduce new and advanced products in the country. They are also undergoing inorganic growth strategies such as mergers & acquisitions, collaborations partnerships and new product launches in order to strengthen their position in Indonesia elevator & escalator market. ” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“Indonesia Elevator & Escalator Market Segmented By Type (Elevator, Escalator & Moving Walkways), By Service (Maintenance & Repair, New Installation and Modernization), By End User Industry (Residential, Commercial, Institutional, Infrastructural & Others), By Elevator Technology (Traction, Hydraulic & Machine room-Less traction), By Elevator Door Type (Automatic and Manual), By Region, and By Competition, 2018-2028,” has evaluated the future growth potential of Indonesia Elevator & Escalator Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Saudi Arabia Telehealth Market.


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