Germany Elevator and Escalator Market Overview, 2029

Germany's urban areas are witnessing significant growth, leading to increased demand for elevators and escalators in residential and commercial buildings. The development of infrastructure projects, such as airports, railway stations, and shopping malls, further drives market growth. Many existing buildings in Germany require modernization and upgrading of their elevator and escalator systems to comply with safety standards, improve energy efficiency, and enhance performance. Retrofitting projects contribute to market demand. The focus on energy efficiency and sustainability in Germany is influencing the elevator and escalator market. Manufacturers prioritize energy-efficient components, regenerative drives, and eco-friendly materials to reduce environmental impact and align with Germany's commitment to sustainability. The market is witnessing technological advancements, such as smart elevators and connected escalators. These systems incorporate features like destination control, remote monitoring, predictive maintenance, and integration with building management systems. Germany has an aging population, which drives the demand for elevators equipped with accessibility features. Lifts that cater to the needs of elderly and disabled individuals, including wheelchair accessibility, are in high demand. Germany has strict safety regulations and standards for elevators and escalators to ensure user safety. Compliance with these regulations is a crucial factor for manufacturers and service providers operating in the market. According to the research report "Germany Elevators and Escalators Market Overview, 2029," published by Bonafide Research, the Germany elevators and escalators market is anticipated to grow at more than 4.7% CAGR from 2024 to 2029. Germany is known for its high-quality engineering and manufacturing standards. Elevators and escalators produced in Germany are recognized for their reliability, durability, and adherence to stringent safety regulations. With an aging building stock, there is a significant demand for retrofitting and modernizing existing elevator and escalator systems in Germany. The market caters to this demand by providing solutions that enhance safety, energy efficiency, and usability. Sustainability is a key focus in the German elevator and escalator market. Germany has stringent safety regulations and standards for elevators and escalators. These regulations ensure the safety of users and require regular inspections and maintenance of installations. The emphasis on safety drives continuous improvement and innovation in the industry. The German market is highly competitive, with both international and domestic manufacturers vying for market share. This competition drives innovation and encourages companies to develop cutting-edge technologies and solutions. Accessibility features are given significant importance in the German market. Elevators and escalators designed for people with disabilities, including wheelchair accessibility and tactile indicators, are widely available to ensure inclusive vertical transportation. The market has a strong emphasis on maintenance and service. German companies offer comprehensive maintenance contracts and efficient service networks to ensure the smooth functioning and longevity of elevator and escalator systems.

In terms of segmentation, the elevator market includes passenger and freight elevators, with the residential sector expected to dominate, this is largely due to the influx of refugees and high immigration rates in Germany. The freight elevator segment is also gaining traction, particularly in commercial and industrial applications, where efficient vertical transport of goods is essential. Escalators and moving walkways are increasingly integrated into public transit systems and commercial spaces, enhancing accessibility and convenience. The demand for escalators is bolstered by their use in high-traffic areas, such as shopping malls and airports. Recent developments indicate a growing preference for modernized escalators, which offer improved safety features and energy efficiency, aligning with broader sustainability goals. Key players in the German market include KONE, Otis, Schindler, and ThyssenKrupp, all of which are investing in research and development to enhance product offerings and expand their market presence through mergers and acquisitions. Moreover, the aging population in Germany is influencing the demand for elevators, particularly in residential and healthcare facilities, where accessibility is paramount. This demographic shift is prompting manufacturers to develop more user-friendly and accessible designs, catering to the needs of elderly and disabled individuals. Escalators are increasingly being integrated into smart building systems, enhancing operational efficiency and user experience. Features such as predictive maintenance, enabled by the Internet of Things (IoT), allow for real-time monitoring and improved safety protocols, reducing downtime and maintenance costs. The Germany elevator and escalator market can be segmented into three main service types: new installation, maintenance & repair, and modernization. The new installation segment accounts for a significant portion of the Germany elevator and escalator market. As the construction sector continues to boom, particularly in metropolitan regions, the demand for new elevators and escalators in residential, commercial, and infrastructural projects is on the rise. Factors driving this growth include increasing investments in infrastructure projects by the European Investment Bank (EIB) and the need to accommodate the aging population. Maintenance & Repair: Maintaining and repairing existing elevators and escalators is essential to ensure their safe and efficient operation. The aging building stock in Germany, coupled with stringent safety regulations, has led to a growing demand for maintenance and repair services. Regular maintenance not only extends the lifespan of these systems but also ensures compliance with the latest safety standards. In 2023, the Germany elevator and escalator market size by installed base was estimated at 972.8 thousand units. As buildings age and technology advances, modernizing elevators and escalators becomes necessary to improve performance, energy efficiency, and safety. The Germany elevator and escalator market is witnessing a rise in demand for modernization services, driven by the growing adoption of smart building technologies and the need to comply with evolving regulations. Modernization projects often involve upgrading control systems, improving ride quality, and enhancing accessibility features. The residential sector is the largest end-user segment, driven by urbanization, high-rise building developments, and the increasing aging population.The demand for elevators in residential buildings is significantly influenced by the influx of refugees and immigrants, necessitating the construction of more housing units equipped with modern vertical transportation systems. This segment emphasizes the need for energy-efficient and space-saving designs that cater to the diverse needs of residents. The commercial segment encompasses offices, shopping centers, hotels, and other retail spaces. This sector is experiencing robust growth, fueled by the expansion of the service industry and increased tourism in Germany. The demand for elevators and escalators in commercial spaces is characterized by the need for high-capacity systems that can efficiently manage large volumes of people, particularly in busy urban areas. Additionally, the trend towards smart buildings is driving the adoption of advanced elevator technologies that enhance user experience and operational efficiency. The industrial sector requires specialized elevators and escalators designed to handle heavy loads and operate in demanding conditions. Infrastructure projects, particularly those funded by the European Investment Bank (EIB), are increasingly integrating vertical transportation solutions to improve accessibility and safety. In the marine industry, elevators are essential for facilitating movement within large vessels and ports, highlighting the versatility of these systems.

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Manmayi Raval

Research Consultant

COVID-19 impacts: The elevator and escalator business has been significantly damaged in recent years as a result of lockdowns implemented in Germany due to the COVID-19 pandemic outbreak in December 2019. The COVID-19 epidemic has hindered the construction industry's expansion in recent years, generating delays that can be ascribed to various damaged supply chains. The elevator and escalator manufacturers, as well as the overall construction industry, are expected to face a number of challenges as most commercial projects are likely to be left incomplete or delayed due to supply chain disruptions, cash flow constraints, workforce unavailability, and production shutdowns. The demand for elevators and escalators is expected to rise in the coming years as various governments of Germany prepare to gradually lift the lockdowns. As the lockdowns progressively cease, the construction sector is expected to increase. As commercial developments resume throughout the world, demand for elevators and escalators is expected to rise in the upcoming years. Considered in this report • Geography: Germany • Historic Year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report • Germany Elevator & Escalator Market with its value and forecast along with its segments • Application wise tire industry distribution • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation

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Based on By Types: • Elevator • Escalators Moving Walkways Based on By Services: • New installation • Maintenance and repair • Modernization Based on by End use types: • Residential • Commercial • Others The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to elevator & escalator industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.