South Africa elevator and Escalator Market Overview, 2029

South Africa's elevator and escalator market has been experiencing steady growth due to urbanization, infrastructure development, and increased construction activities in the country. The demand for vertical transportation systems has been driven by the need to accommodate the growing population and the construction of commercial, residential, and mixed-use buildings. Key players in the South African elevator and escalator market include multinational companies such as Otis, Schindler, KONE, and ThyssenKrupp, as well as several local manufacturers and service providers. These companies offer a wide range of products and services, including elevators, escalators, moving walkways, and maintenance and modernization solutions. The market has witnessed a shift towards energy-efficient and eco-friendly solutions, with a focus on reducing energy consumption and carbon emissions. Technological advancements such as regenerative drives, destination control systems, and predictive maintenance have also been introduced to enhance efficiency, safety, and user experience. In terms of market segmentation, the elevator and escalator market in South Africa can be categorized based on product types, end-users, and regions. Product types include passenger elevators, freight elevators, home elevators, escalators, and moving walkways. The end-users encompass various sectors such as residential buildings, commercial complexes, hotels, hospitals, transportation hubs, and retail spaces. According to the research report "South Africa Elevators and Escalators Market Overview, 2029," published by Bonafide Research, the South Africa elevators and escalators market is anticipated to grow at more than 6.4% CAGR from 2024 to 2029. South Africa is witnessing the integration of smart technologies in elevators and escalators. These include destination control systems, touchless controls, remote monitoring, and predictive maintenance, enhancing user experience, efficiency, and safety. The South African market places a strong emphasis on safety standards and compliance. Elevator and escalator installations must adhere to local regulations, building codes, and safety standards to ensure the well-being of users. The South African elevator and escalator market is supported by industry associations such as the Lift Engineering Association of South Africa (LEASA) and the South African Bureau of Standards (SABS). These organizations work towards promoting safety, standardization, and best practices within the industry. Elevators and escalators are utilized in various sectors in South Africa, including residential buildings, commercial complexes, hotels, hospitals, airports, train stations, and shopping malls. The diverse applications reflect the need for efficient vertical transportation across different industries. The COVID-19 pandemic has impacted the elevator and escalator market in South Africa, as construction projects were affected by restrictions and economic uncertainties. However, as the situation improves, the market is expected to recover gradually. In addition to multinational companies, South Africa also has local manufacturers and service providers in the elevator and escalator industry. These companies contribute to the market by offering products and services tailored to the local requirements and conditions.

the types include, Passenger elevators are primarily used in high-rise buildings, offering efficient vertical transportation for individuals. Freight elevators, on the other hand, are designed for transporting goods and are commonly found in warehouses and industrial settings. Double-deck elevators, which serve two floors simultaneously, are gaining traction in high-density urban environments due to their efficiency and space-saving design. In terms of escalators, the market includes traditional moving stairways and moving walkways, which are increasingly being integrated into commercial spaces like malls and airports to facilitate the flow of foot traffic. The trend towards smart escalators and elevators, equipped with IoT technology for improved safety and efficiency, is also emerging, enhancing user experience and operational performance. Manufacturers are focusing on eco-friendly technologies and energy-efficient systems, responding to global sustainability trends. The integration of advanced technologies, such as predictive maintenance and smart controls, is becoming commonplace, allowing for better performance monitoring and reduced downtime. Moreover, government initiatives aimed at improving public infrastructure are expected to further boost demand for elevators and escalators. The growth in the hospitality sector, with numerous hotel chains expanding their presence, is also contributing to the rising need for modern vertical transportation solutions. New installation services are experiencing significant demand due to ongoing infrastructure development and urbanization in South Africa. Major projects, such as the Durban Tower and Modderfontein New City, are driving the need for multiple elevators and escalators to accommodate increasing foot traffic in commercial and residential buildings. This segment currently holds the largest market share, reflecting the robust construction activities across various sectors, including hospitality and retail, which are expected to continue growing in the coming years. Regular maintenance and repair services are essential for the optimal performance of elevators and escalators, which consist of numerous intricate moving parts. In South Africa, the maintenance and repair market is projected to grow steadily, supported by stringent government regulations aimed at ensuring public safety. Regular servicing helps identify and address minor issues before they escalate, thereby reducing overall maintenance costs and extending the lifespan of the equipment. Companies like Relis Lifts and Schindler provide comprehensive maintenance agreements, including 24-hour emergency services, which are critical for minimizing downtime and enhancing user experience. The integration of IoT technology for predictive maintenance is becoming a key focus area, allowing for real-time monitoring and management of elevator systems. This shift towards modernization reflects the broader trends of sustainability and technological advancement within the South African market. The residential segment is witnessing a surge in demand due to urbanization and the increasing construction of multi-story apartment complexes. As more people migrate to urban areas, the need for efficient vertical transportation solutions in residential buildings becomes paramount. The growing middle class and rising disposable incomes are also contributing to the demand for modern elevators that enhance convenience and accessibility within residential properties. This sector is expected to expand significantly as developers focus on integrating advanced technologies, such as energy-efficient systems and smart controls, into new residential projects. The commercial sector represents the largest share of the elevator and escalator market in South Africa, driven by the rapid expansion of the hospitality and retail industries. With over 300 hotel projects anticipated in the coming years, there is a substantial demand for elevators and escalators in hotels, shopping malls, and office buildings. The emphasis on energy efficiency and user experience is prompting commercial developers to invest in modern, smart elevator systems equipped with advanced features like destination control and touchless technology. The marine industry, although smaller, is also seeing a demand for specialized elevators and escalators in cruise ships and ports. As South Africa continues to invest in infrastructure development, this segment is poised for growth, reflecting the overall demand for advanced vertical transportation systems across various applications. COVID-19 impacts: The elevator and escalator business has been significantly damaged in recent years as a result of lockdowns implemented in South Africa 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 South Africa 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: South Africa • Historic Year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report • South Africa 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

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.