Skip navigation
Reports & Analysis Strategic Insights Research Subscriptions
Sign In / Create Account Cart
Sign In / Create Account Cart
  • Reports & Analysis
  • Strategic Insights
  • Research Subscriptions

Resources

  • Analyst Buzz
  • Press Releases
  • Blog
  • Resources & Downloads

The Freedonia Group

  • Contact
  • About
  • Our Staff
  • Help Center
  • Career Opportunities
Freedonia Market Research Press Releases Demand for Elevators in Western Europe to Approach $30 Billion in 2021

Demand for Elevators in Western Europe to Approach $30 Billion in 2021

by Corinne Gangloff

August 15, 2017

Demand for elevators in Western Europe is projected to rise 1.9% per year to $29.6 billion in 2021. A slow recovery in nonresidential and multifamily housing construction, as well as price growth, will support demand advances. The West European elevator market was historically the largest regional market, with 41% of global demand in 2006, but was surpassed in 2010 by the Asia/Pacific region, which was boosted by booming new equipment demand in developing areas. In 2016, Western Europe held just 28% of the global total. These and other trends are presented in Global Elevator Equipment & Services Market, 7th Edition, a new study from The Freedonia Group, a Cleveland-based industry research firm.

The residential market in Western Europe has historically accounted for slightly over half of total demand, but during the global economic recession, the new housing market in many countries in the region saw particularly dramatic contractions. Going forward, the residential market is projected to reach $14.7 billion in 2021 on growth of 2.0% per year.

Demand for elevator equipment (including elevators, escalators, moving walkways, and associated parts) and services in all regions is forecast to reach $114 billion in 2021 on advances of 3.3% per year. The nonresidential market accounted for nearly three-fifths of all spending on elevators in 2016 and will see faster growth than the residential market. Gains in nonresidential construction spending as well as major projects planned in developing markets will support elevator equipment and services demand. Elevators and escalators see intensive use in such projects as skyscrapers, airports, metro and train stations, and hospitals, which are frequently constructed in developing areas that are rapidly urbanizing. 

Global Elevator Equipment & Services Market, 7th Edition (published 07/2017, 344 pages) is available for $6400 from The Freedonia Group. For further details or to arrange an interview with the analyst, please contact Corinne Gangloff by phone 440.684.9600 or email [email protected].

Related studies include:

#3487 Global Flooring Market, 8th Edition (January 2017)

#3464 World Drywall & Building Plaster (October 2016)

Have unique research needs?

Freedonia Strategic Insights listens intently to your needs and objectives. Then we work diligently to define and deliver a service to meet them.
Learn About Our Custom Research Services

Subscribe to Our Blog

Stay up to date with the latest information about new market research and news in areas relevant to your business from our analysts and team members.

Freedonia Focus Blog Subscription

Provide the following details to subscribe.

The Freedonia Group needs the contact information you provide to us to contact you about our products and services. You may unsubscribe from these communications at any time. For information on how to unsubscribe, as well as our privacy practices and commitment to protecting your privacy, please review our Privacy Policy.
  • Contact
  • About
  • Help Center
  • Career Opportunities
  • Press Contact
  • User Agreement
  • Privacy Policy
  • Site Map

Additional Resources

  • Market Size Resources
  • Lawn & Garden Market Research
  • Roofing Market Research
  • Pet Products Market Research
  • Countertops Market Research
  • Power Tools Market Research
  • Publishing for the PreK-12 Market Research
  • Insulation Market Resaerch
  • Cabinets Market Research
  • Flooring Market Research
  • Pet Supplements Market Research
  • Agricultural Equipment Market Research
  • Open Access Publishing Market Research
  • Silicones Market Research
  • For Legal Inquiries, contact Cohen & Cohen
Copyright © 2025 The Freedonia Group, Inc. All rights reserved.