Singapore Elevators and Escalators Market valued at USD578.95 million in 2021 and is anticipated to project a robust growth in the forecast period with a CAGR of 7.90% owing to rapidly growing smart building concept and increasing urbanization.

An elevator or a lift can be defined as a machine installed in a building to lift, transport, or move people or things from one floor to another. Elevators can be used in different types of buildings, such as housing estates, commercial buildings, shopping malls, hospitals, etc., to move passengers and goods from one level to another. Elevators can also be used in factories and industrial plants to transport goods, machines, and finished goods between different floors.

Escalators are a series of moving stairs, usually electric, arranged like a continuous belt, carrying people by constantly ascending or descending between floors of a building.

Digital Solutions for Elevators by Major Companies Driving Market Growth

The Escalator & Elevator Market in Singapore is constantly changing. The major companies in the Singapore Elevators and Escalators Market, such as Schindler Lifts (Singapore) Pte. Ltd. and Kone Pte. Ltd., have begun to offer elevators and escalators with technological integration using modern ICT (Information and Communication Technology) and the Internet of Things (IoT), among others. Kone Elevator, for example, recently introduced their first digital elevator series with built-in connection known as KONE DX Class elevators. Schindler had introduced 'Smart Ahead,' an innovative urban mobility platform in Singapore, through which the business is pioneering the use of IoT to introduce fully digitalized elevators and escalators. All these digital advancements in the industry are strategically aligned with the Singapore government's Smart City ambition.

Government Schemes and Initiatives

Singapore's government and other government agencies have been heavily investing in numerous programs to promote the city's urban infrastructure development. The government's 'Smart Nation Singapore' has made progress towards the digitalization of physical infrastructure and systems. The smart city effort has been a driving force behind the remodelling and re-building of existing infrastructure to meet the goals of Singapore's 'Smart Nation' plan, as well as the creation of new infrastructure. Furthermore, Singapore's government recently proclaimed its intention to achieve net-zero emissions by 2050, mandating the development of green infrastructure in the country. As a result, the country's existing infrastructure is anticipated to undergo significant modification and upgrading. 

Utilization of UltraRope Technology for High-Rise Buildings

UltraRope is a lightweight elevator hoisting technology that allows the elevator to travel up to height of around 1,000 meters. As the number of high-rise commercial and residential buildings grows, so does the demand for UltraRope technology. For example, KONE UltraRope from Kone Pte. Ltd. addresses the drawbacks of traditional steel ropes, such as excessive energy consumption, rope stretch, huge moving masses, and downtime caused by building sway. Because it is made from a carbon-fiber core and a special high-friction coating, the KONE UltraRope is exceptionally light. This leads to an 11% reduction in elevator energy use.

Growing Demand for High Speed & Machine Room-Less (MRL) Elevators

Higher energy efficiency, lighter and more design options, optimal use of hoist-way space, and so on are some of the benefits of machine-room-less elevators. The demand for high-speed traction elevators is skyrocketing as the number of high-rise commercial and residential buildings rises across the country. To meet rising market demand, top businesses are introducing high-speed, ultra-high-speed, and machine-room-less elevators to meet customers' individual needs.


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Market Segmentation

Singapore Elevators and Escalators Market is segmented based on Type, Elevator Door type, Elevator Technology, Service, End User, Region, and by Company. Based on Type, the market is further fragmented into Elevator, Escalator and Moving Walkways. Based on Elevator Door Type, the market is further fragmented into Automatic and Manual. Based on Elevator Technology, the market is further fragmented into Traction, Machine Room-Less Traction and Hydraulic. Based on Service, the market is segmented into Modernization and Maintenance & Repair, New Installation. Based on End User, the market is segmented into Residential, Commercial, Infrastructural, Institutional and Others. The market analysis also studies the regional segmentation, divided among Central, North-East, East, West and North region.

Company Profiles

Chevalier Singapore Holdings Pte. Ltd., Fujitec Singapore Corpn. Ltd., TK Elevator Singapore Pte. Ltd., EM Services Pte. Ltd., C&W Services (S) Pte. Ltd., Kone Pte. Ltd., Schindler Lifts (Singapore) Pte. Ltd., Mitsubishi Elevator (Singapore) Pte. Ltd., Otis Elevator Company (S) Pte Ltd, Hitachi Elevator Asia Pte. Ltd. are among the major market players in the Singapore Elevators and Escalators Market.

Attribute

Details

Market size value in 2021

USD 578.95 million

Revenue Forecast in 2027

USD 919.21 million

Growth Rate

7.90%

Base Year

2021

Historical Years

2017 – 2020

Estimated Year

2022E

Forecast Period

2023F – 2027F

Quantitative Units

Revenue in (USD million), CAGR for 2017-2021 and 2022E-2027F

Report Coverage

·         Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

·         Type

·         Elevator Door Type

·         Elevator Technology

·         Service

·         End User

·         Region

Regional Scope

Central, North-East, East, West, North region

Key Companies Profiled

Chevalier Singapore Holdings Pte. Ltd., Fujitec Singapore Corpn. Ltd., TK Elevator Singapore Pte. Ltd., EM Services Pte. Ltd., C&W Services (S) Pte. Ltd., Kone Pte. Ltd., Schindler Lifts (Singapore) Pte. Ltd., Mitsubishi Elevator (Singapore) Pte. Ltd., Otis Elevator Company (S) Pte Ltd, Hitachi Elevator Asia Pte. Ltd.

Customization Scope

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

Pricing and Purchase Options

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Delivery Format

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

 

 

Report Scope:

In this report, Singapore Elevators and Escalators Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

  • Singapore Elevators and Escalators Market, By Type:

o   Elevator

o   Escalator

o   Moving Walkways

·         Singapore Elevators and Escalators Market, By Elevator Door Type:

o   Automatic

o   Manual

·         Singapore Elevators and Escalators Market, By Elevator Technology:

    • Traction
    • Machine Room-Less Traction
    • Hydraulic

·         Singapore Elevators and Escalators Market, By Service:

    • Modernization and Maintenance & Repair
    • New Installation

·         Singapore Elevators and Escalators Market, By End User:

    • Residential
    • Commercial
    • Infrastructural
    • Institutional
    • Others

·         Singapore Elevators and Escalators Market, By Region:

    • Central Region
    • North-East Region
    • East Region
    • West Region
    • North Region

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Singapore Elevators and Escalators 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).

In case you don’t find what you are looking for, please get in touch with our custom research team at sales@techsciresearch.com

1.    Product Overview

2.    Research Methodology

3.    Executive Summary

4.    Impact of COVID-19 on Singapore Elevators and Escalators Market

5.    Voice of Customer

5.1.  Brand Awareness

5.2.  Factors Influencing Purchase Decision

5.3.  Satisfaction Level

5.4.  Elevators and Escalators –Challenges

5.5.  Annual Maintenance Contract (AMC) Expectations

5.6.  Annual Maintenance Contract (AMC) Challenges

6.    Global Elevators and Escalators Market Overview

7.    Singapore Elevators and Escalators Market Outlook

7.1.  Market Size & Forecast

7.1.1. By Value

7.2.  Market Share & Forecast

7.2.1. By Type (Elevator, Escalator and Moving Walkways)

7.2.1.1.              By Elevator Door Type (Automatic vs. Manual)

7.2.1.2.              By Elevator Technology (Traction, Machine Room-Less Traction and Hydraulic)

7.2.2. By Service (Modernization and Maintenance & Repair, New Installation)

7.2.3.     By End User (Residential, Commercial, Infrastructural, Institutional and Others)

7.2.4. By Region

7.2.5. By Company (2021)

7.3.  Market Map (Type, Elevator Door Type, Elevator Technology, Service, End User, Region)

8.    Singapore Modernization and Maintenance & Repair Elevators and Escalators Market Outlook

8.1.  Market Size & Forecast

8.1.1. By Value    

8.2.  Market Share & Forecast

8.2.1. By Type

8.2.2. By End User

9.    Singapore New Installation Elevators and Escalators Market Outlook

9.1.  Market Size & Forecast

9.1.1. By Value & Volume      

9.2.  Market Share & Forecast

9.2.1. By Type

9.2.2. By End User

10.  Market Dynamics

10.1.           Drivers

10.2.           Challenges

11.  Market Trends and Developments

12.  Supply Chain Analysis

12.1.           Elevators

12.2.           Escalators

13.  Policy and Regulatory Landscape

14.  Import-Export Analysis

15.  Singapore Economic Profile

16.  Market Strategy

17.  Company Profiles

17.1.           Chevalier Singapore Holdings Pte. Ltd.

17.2.           Fujitec Singapore Corpn. Ltd.

17.3.           TK Elevator Singapore Pte. Ltd.

17.4.           EM Services Pte. Ltd.

17.5.           C&W Services (S) Pte. Ltd.

17.6.           Kone Pte. Ltd.

17.7.           Schindler Lifts (Singapore) Pte. Ltd.

17.8.           Mitsubishi Elevator (Singapore) Pte. Ltd.

17.9.           Otis Elevator Company (S) Pte. Ltd.       

17.10.        Hitachi Elevator Asia Pte. Ltd.    

18.  Strategic Recommendations

 19. About Us & Disclaimer

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  • List of Figures

    Figure 1: Singapore Elevators and Escalators Market Size, By Value (USD Million), 2017-2027F

    Figure 2: Singapore Elevators and Escalators Market Share, By Type, By Value, 2017-2027F

    Figure 3: Singapore Elevators and Escalators Market Share, By Elevator Door Type, By Value, 2017-2027F

    Figure 4: Singapore Elevators and Escalators Market Share, By Elevator Technology, By Value, 2017-2027F

    Figure 5: Singapore Elevators and Escalators Market Share, By Service, By Value, 2017-2027F

    Figure 6: Singapore Elevators and Escalators Market Share, By End User, By Value, 2017-2027F

    Figure 7: Singapore Elevators and Escalators Market Share, By Region, By Value, 2017-2027F

    Figure 8: Singapore Elevators and Escalators Share, By Company, By Value, 2021

    Figure 9: Singapore Elevators and Escalators Market Map, By Type, Market Size (USD Million) & Growth Rate (%), 2021

    Figure 10: Singapore Elevators and Escalators Market Map, By Elevator Door Type, Market Size (USD Million) & Growth Rate (%), 2021

    Figure 11: Singapore Elevators and Escalators Market Map, By Elevator Technology, Market Size (USD Million) & Growth Rate (%), 2021

    Figure 12: Singapore Elevators and Escalators Market Map, By Service, Market Size (USD Million) & Growth Rate (%), 2021

    Figure 13: Singapore Elevators and Escalators Market Map, By End User, Market Size (USD Million) & Growth Rate (%), 2021

    Figure 14: Singapore Elevators and Escalators Market Map, By Region, Market Size (USD Million) & Growth Rate (%), 2021

    Figure 15: Singapore Modernization and Maintenance & Repair Elevators and Escalators Market Size, By Value (USD Million), 2017-2027F

    Figure 16: Singapore Modernization and Maintenance & Repair Elevators and Escalators Market Share, By Type, By Value, 2017-2027F

    Figure 17: Singapore Modernization and Maintenance & Repair Elevators and Escalators Market Share, By End User, By Value, 2017-2027F

    Figure 18: Singapore New Installation Elevators and Escalators Market Size, By Value (USD Million), 2017-2027F

    Figure 19: Singapore New Installation Elevators and Escalators Market Size, By Volume (Units), 2017-2027F

    Figure 20: Singapore New Installation Elevators and Escalators Market Share, By Type, By Value, 2017-2027F

    Figure 21: Singapore New Installation Elevators and Escalators Market Share, By End User, By Value, 2017-2027F

    Figure 22: Singapore Lifts and Skip Hoists Import Scenario, By Value (USD Million), 2016-2020 (HS Code: 842810)

    Figure 23: Singapore Lifts and Skip Hoists Export Scenario, By Value (USD Million), 2016-2020 (HS Code: 842810)

    Figure 24: Singapore Pneumatic Elevators and Conveyors Import Scenario, By Value (USD Million), 2016-2020 (HS Code: 842820)

    Figure 25: Singapore Pneumatic Elevators and Conveyors Export Scenario, By Value (USD Million), 2016-2020 (HS Code: 842820)

    Figure 26: Singapore Other Continuous Action Elevators and Conveyers for Goods/Materials, Bucket Type Import Scenario, By Value (USD Million), 2016-2020 (HS Code: 842832)

    Figure 27: Singapore Other Continuous Action Elevators and Conveyers for Goods/Materials, Bucket Type Export Scenario, By Value (USD Million), 2016-2020 (HS Code: 842832)

    Figure 28: Singapore Other Continuous Action Elevators and Conveyers for Goods/Materials, Belt Type Import Scenario, By Value (USD Million), 2016-2020 (HS Code: 842833)

    Figure 29: Singapore Other Continuous Action Elevators and Conveyers for Goods/Materials, Belt Type Export Scenario, By Value (USD Million), 2016-2020 (HS Code: 842833)

    Figure 30: Singapore Other Continuous-Action Elevators and Conveyers for Goods Import Scenario, By Value (USD Million), 2016-2020 (HS Code: 842839)

    Figure 31: Singapore Other Continuous-Action Elevators and Conveyers for Goods Export Scenario, By Value (USD Million), 2016-2020 (HS Code: 842839)

    Figure 32: Singapore Continuous-Action Elevators and Conveyers Specially Designed for Underground Use for Goods/Materials Import Scenario, By Value (USD Million), 2016-2020 (HS Code: 842831)

    Figure 33: Singapore Continuous-Action Elevators and Conveyers Specially Designed for Underground Use for Goods/Materials Export Scenario, By Value (USD Thousands), 2016-2020 (HS Code: 842831)

    Figure 34: Singapore Escalators and Moving Walkways Import Scenario, By Value (USD Million), 2016-2020 (HS Code: 842840)

    Figure 35: Singapore Escalators and Moving Walkways Export Scenario, By Value (USD Million), 2016-2020 (HS Code: 842840)

     

    List of Tables

    Table 1: High-Rise Buildings in Singapore

    Table 2: List of Proposed Projects in Singapore