Report Description

Indonesia Elevator Modernization Market is anticipated to grow at a steady pace during the forecast period, 2023-2028, owing to a rise in projects to offer robust opportunities in the country as it witnessed rapid urbanization over the past decade leading to a significant increase in population density in urban areas thereby creating a need for vertical expansion of cities, which is driving the growth of the Indonesia Elevator Modernization Market.

Modernizing an elevator or lift involves updating its essential parts. This process is often referred to as lift modernization. Its objective is to improve performance that has deteriorated over time and raise safety standards. The modernization process for elevators typically has an impact on the turning motors and controller equipment. Modernizing elevators can help to enhance their function, making them more trustworthy and efficient. The old parts are all replaced with new, contemporary parts that keep the elevator functioning well for a long period, which also saves money on maintenance.

High Safety Standards
In order to provide trustworthy consultations and recommendations about extra components and functions to upgrade added equipment and the existing ones as well to comply with the most recent safety requirements, companies have started to conduct a thorough safety assessment while modernising elevators. Additionally, firms that specialize in elevator modernization are currently putting in place door systems that, in the event of an entrapment, would prevent passengers from risky self-rescue attempts by requiring them to open the door from within. Additionally, sensory intelligence technologies are now included to continuously and pro-actively monitor elevators and users, which can trigger a request at any time and detect any suspicious activity, making an elevator more advanced and secure.

Augmenting New Technological Advancements
Leading businesses such as Otis, Toshiba, Schindler, and KONE are investing in IoT and intelligent services to monitor and improve elevator services by forecasting how frequently the equipment must move up or down as well as the amount of weight that the elevators can carry with the destination-based operation. For instance, in May 2018, Otis, a manufacturer of machinery such as escalators, elevators, and moving walkways, unveiled Otis One, an IoT service platform. Additionally, solar-powered elevators, made by businesses such as Schindler, save a significant amount of energy because they are fueled by the sun. Additionally, the potential for the global elevator modernization market are growing thanks to these regenerative drives and environment-friendly solutions.

Increasing Demand for Modern Machine Room Less Elevators
Modern machine room-less elevators offer a number of benefits, such as improved hoist-way area use, lower weight, enhanced energy efficiency, and more design alternatives. Additionally, there has been a huge increase in demand for high-speed traction elevators owing to increase in office and residential buildings around the world. In order to accommodate greater traffic moving between multi-story buildings, elevator space has increased over time. Additionally, these newly developed elevators are now furnished with a variety of gadgets, including Wi-Fi routers, sophisticated fire alarm systems, wheelchair lifts, etc. The number of floors in the building also affects the elevator's speed, which has varied significantly throughout the years, occasionally exceeding 10 m/s. Modern machine room-less elevators are being utilised more frequently in low- and medium-story buildings, saving both space and money on construction. Leading firms are introducing high speed, ultra-high speed, and machine room less elevators for certain regional requirements in order to meet the expanding market demand. In the upcoming years, such developments are projected to propel the Indonesia elevator modernization market even further.


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Market Segmentation
The Indonesia Elevator Modernization Market is divided into elevator type, component, end user, and modernization type. Based on elevator type, the market is split into traction, hydraulic, and machine room-less traction. Based on component, the market is further segmented into controller, door equipment, cabin enclosure, signalling fixture, power unit, and others. Based on end user, the market is divided into residential sector, industrial sector, commercial sector, and infrastructural sector. On the basis of region, the market is segmented into Java, Sumatra, Kalimantan, Bali, and Others.

Market Players
Major market players in the Indonesia Elevator Modernization Market are PT. KONE Indo Elevator, Toshiba Elevator and Building Systems Corporation (TOSHIBA), PT Berca Schindler Lifts, OTIS Elevator Company (Indonesia) Ltd., TK Elevator Indonesia Private Limited, PT Mitsubishi Jaya Elevator and Escalator, PT. Fujitec Indonesia, PT. Jaya Kencana, PT Sarang Teknik Utama Indonesia (Hitachi), Shanghai Mitsubishi Elevator.

Recent Development

  • T A digitalization effort called "100 Smart Cities Movement" was introduced by the Indonesian government in 2017. Mitsubishi Corp. will add an urban development project to its smart city plan in Jakarta for 200 million Singapore dollars (USD 149 million). The project envisions the development of residential and commercial zones on six hectares around a railway station.
  • Thamrin Nine Tower 1, a significant skyscraper infrastructure project, will be the tallest skyscraper in Indonesia when completed, reaching 333.5 m tall with 70 storeys, increasing the need for elevators and escalators in the country.

Attribute

Details

Base Year

2022

Historic Data

2018 – 2022

Estimated Year

2023

Forecast Period

2023 – 2028

Quantitative Units

Revenue in USD Million and CAGR for 2018-2022 and 2023-2028

Report coverage

Revenue forecast, company share, growth factors, and trends

Segments covered

       Elevator Type

       Component

       End User

       Modernization Type

Regional scope

Java, Sumatra, Kalimantan, Bali, Others

Key companies profiled

PT. KONE Indo Elevator, Toshiba Elevator, and Building Systems Corporation (TOSHIBA), PT Berca Schindler Lifts, OTIS Elevator Company (Indonesia) Ltd., TK Elevator Indonesia Private Limited, PT Mitsubishi Jaya Elevator and Escalator, PT. Fujitec Indonesia, PT. Jaya Kencana, PT Sarang Teknik Utama Indonesia (Hitachi), Shanghai Mitsubishi Elevator

Customization scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Report Scope:

In this report, the Indonesia Elevator Modernization Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

·         Indonesia Elevator Modernization Market, By Elevator Type:

o   Traction

o   Hydraulic

o   Machine Room-Less Traction

·         Indonesia Elevator Modernization Market, By Component:

o   Controller

o   Door Equipment

o   Cabin Enclosure

o   Signalling Fixture

o   Power Unit

o   Others

·         Indonesia Elevator Modernization Market, By End User:

o   Residential Sector

o   Industrial Sector

o   Commercial Sector

o   Infrastructural Sector

·         Indonesia Elevator Modernization Market, By Modernization Type:

o   Partial

o   Full

·         Indonesia Elevator Modernization Market, By Region:

o   Java

o   Sumatra

o   Kalimantan

o   Bali

o   Others

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Indonesia Elevator Modernization Market.

Available Customizations:

With the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Indonesia Elevator Modernization Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.     Product Overview

2.    Research Methodology

3.    Impact of COVID-19 on Indonesia Elevator Modernization Market

4.    Executive Summary

5.    Voice of Customers

5.1.  Brand Awareness

5.2.  Key Factors for Selecting Vendors

5.3.  Key Satisfaction Level

5.4.  Modernization Contract Expectation

5.5.  Modernization Contract Challenges

6.    Indonesia Elevator Market Outlook

7.    Indonesia Elevator Modernization Market Outlook

7.1.  Market Size & Forecast

7.1.1.     By Value & Volume

7.2.  Market Share & Forecast

7.2.1.     By Elevator Type (Traction, Hydraulic, Machine Room-Less Traction)

7.2.2.     By Component (Controller, Door Equipment, Cabin Enclosure, Signalling Fixture, Power Unit, Others)

7.2.3.     By End User (Residential Sector, Industrial Sector, Commercial Sector, Infrastructural Sector)

7.2.4.     By Modernization Type (Partial, Full)

7.2.5.     By Region (Java, Sumatra, Kalimantan, Bali, Others)

7.2.6.     By Company (2022)

7.3.  Market Map

8.    Indonesia Residential Elevator Modernization Market Outlook

8.1.  Market Size & Forecast

8.1.1.     By Value & Volume

8.2.  Market Share & Forecast

8.2.1.     By Elevator Type

8.2.2.     By Component

8.2.3.     By Modernization Type

8.2.4.     By Region

9.    Indonesia Industrial Elevator Modernization Market Outlook

9.1.  Market Size & Forecast

9.1.1.     By Value & Volume

9.2.  Market Share & Forecast

9.2.1.     By Elevator Type

9.2.2.     By Component

9.2.3.     By Modernization Type

9.2.4.     By Region

10.  Indonesia Commercial Elevator Modernization Market Outlook

10.1.    Market Size & Forecast

10.1.1.  By Value & Volume

10.2.    Market Share & Forecast

10.2.1.  By Elevator Type

10.2.2.  By Component

10.2.3.  By Modernization Type

10.2.4.  By Region

11.  Indonesia Infrastructural Elevator Modernization Market Outlook

11.1.    Market Size & Forecast

11.1.1.  By Value & Volume

11.2.    Market Share & Forecast

11.2.1.  By Elevator Type

11.2.2.  By Component

11.2.3.  By Modernization Type

11.2.4.  By Region

12.  Market Dynamics

12.1.    Drivers

12.1.1.  Rising Urbanization

12.1.2.  Growth in Real-Estate Sector

12.2.    Challenges

12.2.1.  High Installation & Maintenance Cost

12.2.2.  Corrosion of Lift Equipment

13.  Market Trends & Developments

13.1.    Increasing Demand for Modern Machine Room Less Elevators

13.2.    High Safety Standards

13.3.    Augmenting New Technological Advancements

13.4.    Smart Mobility

13.5.    Increasing Mergers and Acquisitions in the Industry

14.  Policy & Regulatory Landscape

15.  Indonesia Economic Profile

16.  Company Profiles

16.1.    PT. KONE Indo Elevator

16.1.1.  Business Overview

16.1.2.  Key Revenue and Financials (If Available)

16.1.3.  Recent Developments

16.1.4.  Key Personnel

16.1.5.  Key Product/Services

16.2.    Toshiba Elevator and Building Systems Corporation (TOSHIBA)

16.2.1.  Business Overview

16.2.2.  Key Revenue and Financials (If Available)

16.2.3.  Recent Developments

16.2.4.  Key Personnel

16.2.5.  Key Product/Services

16.3.    PT Berca Schindler Lifts

16.3.1.  Business Overview

16.3.2.  Key Revenue and Financials (If Available)

16.3.3.  Recent Developments

16.3.4.  Key Personnel

16.3.5.  Key Product/Services

16.4.    OTIS Elevator Company (Indonesia) Ltd.

16.4.1.  Business Overview

16.4.2.  Key Revenue and Financials (If Available)

16.4.3.  Recent Developments

16.4.4.  Key Personnel

16.4.5.  Key Product/Services

16.5.    TK Elevator Indonesia Private Limited

16.5.1.  Business Overview

16.5.2.  Key Revenue and Financials (If Available)

16.5.3.  Recent Developments

16.5.4.  Key Personnel

16.5.5.  Key Product/Services

16.6.    PT Mitsubishi Jaya Elevator and Escalator

16.6.1.  Business Overview

16.6.2.  Key Revenue and Financials (If Available)

16.6.3.  Recent Developments

16.6.4.  Key Personnel

16.6.5.  Key Product/Services

16.7.    PT. Fujitec Indonesia

16.7.1.  Business Overview

16.7.2.  Key Revenue and Financials (If Available)

16.7.3.  Recent Developments

16.7.4.  Key Personnel

16.7.5.  Key Product/Services

16.8.    PT. Jaya Kencana

16.8.1.  Business Overview

16.8.2.  Key Revenue and Financials (If Available)

16.8.3.  Recent Developments

16.8.4.  Key Personnel

16.8.5.  Key Product/Services

16.9.    PT Sarang Teknik Utama Indonesia (Hitachi)

16.9.1.  Business Overview

16.9.2.  Key Revenue and Financials (If Available)

16.9.3.  Recent Developments

16.9.4.  Key Personnel

16.9.5.  Key Product/Services

16.10.  Shanghai Mitsubishi Elevator

16.10.1.                Business Overview

16.10.2.                Key Revenue and Financials (If Available)

16.10.3.                Recent Developments

16.10.4.                Key Personnel

16.10.5.                Key Product/Services

17.  Strategic Recommendations

18.  About Us & Disclaimer

Figures and Tables

Frequently asked questions

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PT. KONE Indo Elevator, Toshiba Elevator and Building Systems Corporation (TOSHIBA), PT Berca Schindler Lifts, OTIS Elevator Company (Indonesia) Ltd., TK Elevator Indonesia Private Limited, PT Mitsubishi Jaya Elevator and Escalator, PT. Fujitec Indonesia, PT. Jaya Kencana, PT Sarang Teknik Utama Indonesia (Hitachi), Shanghai Mitsubishi Elevator are some of the major players in Indonesia Elevator Modernization Market.

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The major segments in the Indonesia Elevator Modernization Market are elevator type, component, end user, modernization type, and region.

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The dominant segment by elevator type in the Indonesia Elevator Modernization Market is traction machinery segment. The main advantage of the traction elevator is its cost as it is reasonably affordable as compared to other type of elevators.

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The main challenges faced by the Indonesia Elevator Modernization Market are corrosion of lift equipment, high installation & maintenance cost.

profile

Srishti Verma

Business Consultant
Press Release

Indonesia Elevator Modernization Market Expected to Register a high CAGR Through 2028

Dec, 2022

Increasing Demand for modern machine room less elevators and augmenting new technological advancements is expected to drive the Indonesia Elevator Modernization Market.