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

Resources

  • Press Releases
  • Blog
  • Resources & Downloads
  • Impact Tracker

The Freedonia Group

  • Contact
  • About
  • Our Staff
  • Help Center
  • Career Opportunities
Back to Press Releases

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 Custom Research 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.

  • Contact
  • About
  • Help Center
  • Career Opportunities
  • Press
  • User Agreement
  • Privacy Policy
  • Site Map
Facebook Linkedin Twitter

Additional Resources

  • Market Size Resources
  • Lawn Mowers Research
  • Global Lubricants Research
  • Global Paint & Coatings Research
  • Global Industrial Valves Research
  • Global Agricultural Equipment Research
  • Indoor Air Quality Equipment Research
  • Global Adhesives & Sealants Research
  • Hardscaping Products Research
  • Residential Landscaping Research
  • Food Packaging Research
  • Global Carpets & Rugs Research
  • Global Residential HVAC Research
Copyright © 2023 MarketResearch.com, Inc. All rights reserved.