Saudi Arabia smart elevator market is bound to experience impressive growth with anticipated CAGR in the forecast period, 2022-2026, on the account of surging demands for the smart infrastructure, and smart technological advancements. Moreover, the development of products that use renewable energy sources is another major driving factor for the market growth in the next five years. Widespread usage in residential, industrial, and commercial sectors, along with rapid infrastructure development and government mandates pertaining to deployment of such advanced elevators in new structures and thereby supporting the growth of the Saudi Arabia smart elevator market in the forecast years until 2026. The intelligent solutions are progressively deployed to attain automation, advanced security, and high energy efficiency compared to conventional lifts, thereby enhancing the demand for smart elevators. Furthermore, adoption of cable-free lifts, dizzying heights, rising security concerns, and adoption of digital security systems, are generating market growth opportunities and thus supporting the growth of the Saudi Arabia smart elevator market in the next five years.

The Saudi Arabia smart elevator market is segmented by component, speed, application, service, application, regional distribution, and competitional landscape. Based on component, the market is further sub-segmented into communication systems, maintenance system, and control systems. The control systems are anticipated to hold the largest revenue shares of the market and dominate the segment in the next five years, growing on the account of enhanced security and management offered by these systems in crowded buildings. The control systems are differentiated into security control, elevator control, access control. Elevator control is the most important and most demanded control system, since it provides the basic necessity for the elevators control, movement, and maintenance. Fast connectivity parameters, advanced access control, and video surveillance that guarantee high passenger comfort and elevator security, thereby contributing to the smart elevator market expansion.

A partial list of market player in the Saudi Arabia smart elevator market includes Otis Elevator Company Saudi Arabia Limited, Schindler Olayan Elevators Co. Ltd, ThyssenKrupp Elevator Saudi Limited, Mitsubishi Electric Saudi Ltd., Gulf Elevator & Escalator Company Ltd., Khaled Juffali Elevator & Escalator Co., KONE Saudi Arabia, Orona Elevator Co. KSA, Fujitec Saudi Arabia Co., Ltd., Hyundai Elevator Saudi Arabia, Toshiba Elevator And Building Systems Corporation, Hitachi Elevator Saudi Arabia Limited., Arshad Abdullah Al-Saleh & Partner Co. ASCO Elevators (ASCO), Elegent Elevators Company, CGC Elevators & Escalators, among others. These market players hold larger shares of the market than the new market players. With the evolving technology, it is appropriate to say that the effective research and development of the technologically advanced instruments and methods to satisfy consumer demands would support the market growth and benefit the market players as well as the consumers. New market players may focus on the research and development to provide such products and services that satisfies the consumer demand as well as benefits the market players in building their brand value. Other competitive strategies include mergers & acquisitions and new product developments.

Years considered for this report:

Historical Years: 2016 – 2019

Base Year: 2020

Estimated Year: 2021

Forecast Period: 2022 – 2026

Objective of the Study:

  • To analyze the historical growth of the market size of Saudi Arabia smart elevator market from 2016 to 2019.
  • To estimate and forecast the market size of Saudi Arabia smart elevator market from 2020 to 2026 and growth rate until 2026. 
  • To classify and forecast Saudi Arabia smart elevator market based on component, speed, application, service, competitional landscape, and regional distribution.
  • To identify dominant region or segment in the Saudi Arabia smart elevator market.
  • To identify drivers and challenges for Saudi Arabia smart elevator market.
  • To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Saudi Arabia smart elevator market.
  • To identify and analyze the profile of leading players operating in Saudi Arabia smart elevator market.
  • To identify key sustainable strategies adopted by market players in Saudi Arabia smart elevator market.

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TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers, suppliers, and service providers across the country. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufactures which could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufactures, distribution channels and presence of all major players across the country.

TechSci Research calculated the market size of Saudi Arabia smart elevator market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.

Key Target Audience:

  • Smart elevator manufacturers, end users, and other stakeholders
  • Distributers and suppliers of the products and other stakeholders
  • Organizations, forums, and alliances related to smart elevator
  • Market research and consulting firms

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

Report Scope:

In this report, Saudi Arabia smart elevator market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

  • Saudi Arabia Smart Elevator Market, By Component:

o   Communication Systems

o   Maintenance System

o   Control Systems

o   Security Control

o   Elevator Control

o   Access Control

  • Saudi Arabia Smart Elevator Market, By Speed:
    • Less than 2m/s
    • 2-5m/s
    • 5.1-8m/s
    • Above 8 m/s
  • Saudi Arabia Smart Elevator Market, By Application:
    • Residential
    • Commercial
    • Industrial
  • Saudi Arabia Smart Elevator Market, By Service:
    • New Installation
    • Modernization
    • Maintenance
  • Saudi Arabia Smart Elevator Market, By Region:
    • Northern & Central
    • Southern
    • Eastern
    • Western

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Saudi Arabia smart elevator market.

Available Customizations:

With the given market data, TechSci 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).
Saudi Arabia Smart elevator 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]  

1.    Introduction

2.    Research Methodology

3.    Executive Summary

4.    Voice of Customer

4.1.  Brand Awareness

4.2.  Brand Selection

4.3.  Factor Influencing Purchase Decision

5.    Impact of COVID -19 on Saudi Arabia Smart Elevator Market

6.    Saudi Arabia Smart Elevator Market Outlook

6.1.  Market Size & Forecast

6.1.1.     By Value (USD)

6.2.  Market Share & Forecast

6.2.1.     By Component (Communication Systems, Maintenance System, Control Systems (Security Control, Elevator Control, Access Control))

6.2.2.     By Speed (Less than 2m/s, 2-5m/s, 5.1-8m/s and Above 8 m/s)

6.2.3.     By Application (Residential, Commercial, Industrial)

6.2.4.     By Service (New Installation, Modernization, Maintenance)

6.2.5.     By Region (Northern & Central, Southern, Eastern, Western)

6.2.6.     By Company (2020)

6.3.  Product Market Map

7.    Saudi Arabia Residential Smart Elevator Market Outlook

7.1.  Market Size & Forecast

7.1.1.     By Value (USD)

7.2.  Market Share & Forecast

7.2.1.     By Component

7.2.2.     By Speed

7.2.3.     By Service

8.    Saudi Arabia Commercial Smart Elevator Market Outlook

8.1.  Market Size & Forecast

8.1.1.     By Value (USD)

8.2.  Market Share & Forecast

8.2.1.     By Component

8.2.2.     By Speed

8.2.3.     By Service

9.    Saudi Arabia Industrial Smart Elevator Market Outlook

9.1.  Market Size & Forecast

9.1.1.     By Value (USD)

9.2.  Market Share & Forecast

9.2.1.     By Component

9.2.2.     By Speed

9.2.3.     By Service

10.  Market Dynamics

10.1.  Drivers/Opportunities

10.2.  Challenges/Restraints

11.  Market Trends & Developments

12.  Policy & Regulatory Landscape

13.  Pricing Analysis

14.  Supply Chain Analysis

15.  Saudi Arabia Economic Profile

16.  Competitive Landscape

16.1.    Company Profiles

16.1.1.  Otis Elevator Company Saudi Arabia Limited

16.1.2.  Schindler Olayan Elevators Co. Ltd

16.1.3.  ThyssenKrupp Elevator Saudi Limited

16.1.4.  Mitsubishi Electric Saudi Ltd.

16.1.5.  Gulf Elevator & Escalator Company Ltd.

16.1.6.  Khaled Juffali Elevator & Escalator Co.

16.1.7.  KONE Saudi Arabia

16.1.8.  Orona Elevator Co. KSA

16.1.9.  Fujitec Saudi Arabia Co., Ltd.

16.1.10.                Hyundai Elevator Saudi Arabia

16.1.11.                Toshiba Elevator And Building Systems Corporation

16.1.12.                Hitachi Elevator Saudi Arabia Limited.

16.1.13.                Arshad Abdullah Al-Saleh & Partner Co. ASCO Elevators (ASCO)

16.1.14.                Elegent Elevators Company

16.1.15.                CGC Elevators & Escalators

17.  Strategic Recommendations

18. About Us & Disclaimer