Southeast Asian Elevator Market, Forecast to 2021

Southeast Asian Elevator Market, Forecast to 2021

Growing Mega Cities and Increasing Adoption of Machine-Roomless Technology to Drive Growth

RELEASE DATE
06-Jun-2017
REGION
Asia Pacific
Research Code: P8A9-01-00-00-00
SKU: EN00983-AP-MR_20053
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Description

The elevator market in Southeast Asia is at the growth stage. Of the four countries covered in the study, Thailand led the elevator demand in Southeast Asia by revenue and market share. This is followed by Vietnam, Indonesia, and the Philippines in descending order. Although the Philippines has the lowest share, it is expected to register the fastest growth in the region's elevator market. Additionally, the market dynamic is expected to change at the end of the forecast period of 2021 with Vietnam and Indonesia.

The Southeast Asia region has observed rapid growth in its urban population, particularly in developing countries. Building construction development, especially in the residential and commercial units, will drive a greater demand for new elevators. On the other hand, elevator modernization works are expected to be driven by the increasing focus on development of smart and green buildings or cities.

Growth of mega cities in Southeast Asia is a key market trend and opportunity. As a greater number of people migrate into these mega cities, the population densities are expected to increase. This is likely to drive the demand for tall buildings, which makes the need for elevators unavoidable. Next, the growing acceptance of machine-roomless elevators in recent years due to their attractive pricing and lack of need for machine rooms at the top level of the buildings has prompted higher demand for such elevators. Going forward, the market will experience consolidation of market participants, whereby large and international elevator companies will acquire local brands in Southeast Asia.

The market trends have been analyzed for a study period of 2016 to 2021. In addition to market revenue and unit shipment, key trends have been provided in each of the four countries covered in this study. Companies mentioned in the study include Hyundai Elevator, Kone, Mitsubishi Elevator, OTIS, Schindler, Sigma, and ThyssenKrupp Elevator.

Key Questions this Study will Answer:
•     How is the elevator market growing in the fastest growing economies in Southeast Asia?
•     Which are the leading elevator companies in these Southeast Asian countries?
•     What are the key success factors and how is it different in each Southeast Asian elevator market?
•     Where are the key opportunities and elevator customer segments in these countries?
•     Are there any innovations in elevator’s technology and other market trends? How are they affecting the market?

Table of Contents

Key Findings

Key Findings (continued)

Market Scope

Market Scope (continued)

Definitions

Definitions (continued)

Definitions (continued)

Key Questions This Study Will Answer

Market Drivers

Drivers Explained

Drivers Explained (continued)

Market Restraints

Restraints Explained

Restraints Explained (continued)

Total Elevator Market—Percent Revenue and Unit Shipment Breakdown by Project Type

Total New Elevator Installation Market—Unit Shipment and Revenue Forecast

Total New Elevator Installation Market—Percent Revenue and Unit Shipment Breakdown by End Users

Indonesian Elevator Market—Percent Revenue and Unit Shipment Breakdown by Project Type

Indonesian New Elevator Installation Market—Unit Shipment and Revenue Forecast

Indonesia New Elevator Installation Market—Percent Revenue and Unit Shipment Breakdown by End User

Market Trends

Market Trends (continued)

Thailand Elevator Market—Percent Revenue and Unit Shipment Breakdown by Project Type

Thailand New Elevator Installation Market—Unit Shipment and Revenue Forecast

Thailand New Elevator Installation Market—Percent Revenue and Unit Shipment Breakdown by End Users

Market Trends

Market Trends (continued)

Vietnam Elevator Market—Percent Revenue and Unit Shipment Breakdown by Project Type

Vietnam New Elevator Installation Market—Unit Shipment and Revenue Forecast

Vietnam New Elevator Installation Market—Percent Revenue and Unit Shipment Breakdown by End Users

Market Trends

Market Trends (continued)

The Philippines Elevator Market—Percent Revenue and Unit Shipment Breakdown by Project Type

The Philippines New Elevator Installation Market—Unit Shipment and Revenue Forecast

The Philippines Elevator Installation Market—Percent Revenue and Unit Shipment Breakdown by End Users

Market Trends

Market Trends (continued)

Growth Opportunity 1—Growing Megacities

Growth Opportunity 2—Increasing Adoption of Machine- Roomless (MRL) Elevators

Growth Opportunity 3—Partnership or M&A for Market Quick Wins

Strategic Imperatives for Success and Growth

Conclusions

Legal Disclaimer

The Frost & Sullivan Story

Value Proposition—Future of Your Company & Career

Global Perspective

Industry Convergence

360º Research Perspective

Implementation Excellence

Our Blue Ocean Strategy

Related Research
The elevator market in Southeast Asia is at the growth stage. Of the four countries covered in the study, Thailand led the elevator demand in Southeast Asia by revenue and market share. This is followed by Vietnam, Indonesia, and the Philippines in descending order. Although the Philippines has the lowest share, it is expected to register the fastest growth in the region's elevator market. Additionally, the market dynamic is expected to change at the end of the forecast period of 2021 with Vietnam and Indonesia. The Southeast Asia region has observed rapid growth in its urban population, particularly in developing countries. Building construction development, especially in the residential and commercial units, will drive a greater demand for new elevators. On the other hand, elevator modernization works are expected to be driven by the increasing focus on development of smart and green buildings or cities. Growth of mega cities in Southeast Asia is a key market trend and opportunity. As a greater number of people migrate into these mega cities, the population densities are expected to increase. This is likely to drive the demand for tall buildings, which makes the need for elevators unavoidable. Next, the growing acceptance of machine-roomless elevators in recent years due to their attractive pricing and lack of need for machine rooms at the top level of the buildings has prompted higher demand for such elevators. Going forward, the market will experience consolidation of market participants, whereby large and international elevator companies will acquire local brands in Southeast Asia. The market trends have been analyzed for a study period of 2016 to 2021. In addition to market revenue and unit shipment, key trends have been provided in each of the four countries covered in this study. Companies mentioned in the study include Hyundai Elevator, Kone, Mitsubishi Elevator, OTIS, Schindler, Sigma, and ThyssenKrupp Elevator. Key Questions this Study will Answer: •
More Information
No Index No
Podcast No
Author Janice Wung
Industries Environment
WIP Number P8A9-01-00-00-00
Keyword 1 Elevator in Southeast Asia
Keyword 2 Southeast Asian Elevator
Keyword 3 Southeast Asian Elevator Forecast
Is Prebook No
GPS Codes 9343-A4,9596,GETE