We use cookies for a better user experience. Click here to know more about it. 


Global Hydraulic Elevator Market to Reach US$574.7 mn by 2025 as Importance of Vertical Transportation Grows

Author: QYResearch  |   Published Date: 2020-01-21   |   Views: 296

Los Angeles, January 21, 2020 - QY Research recently published a report titled, “2020 Global Hydraulic Elevator Market Outlook”. According to the report, the global market scale of hydraulic elevator was valued at around US$621.3 mn in 2019 and it is expected to reach nearly US$574.7 mn by the end of 2025, rising with a CAGR of -1.29% in forecast period.

Global Hydraulic Elevator Market.jpg

Get PDF sample copy of the report at: https://www.qyresearch.com/sample-form/form/1454703/2020-global-hydraulic-elevator-market

Rising Building and Construction Industry to Drive Hydraulic Elevator Market

Rapid urbanization has increased the importance of smart infrastructure, which is boosting modern building and construction projects. Governments are also increasing their spending for the development of both residential and non-residential constructions. Today, most buildings in urban areas are equipped with elevators for ease in vertical transportation. This has increased the growth rate of hydraulic lifts that are cheaper to install, occupy less space, highly effective with heavy loads, consume less energy, and provide a far greater lifting strength. Additionally, they do not require overhead machine room or any other structural requirements as its load is distributed along the load-bearing walls. These factors are playing a major role in augmenting the demand for hydraulic elevators in the construction industry across the globe.

However, slow speed, system overheating, noisier systems, and occasionally rough movement are the factors hampering the growth of the market.

Residential Segment to Register Highest Growth in Global Market

Residential segment will register highest growth in the market as these elevators are usually used in building with five to six floors. Increasing number of residential projects to accommodate the needs of the urban population will boost the global market in the forecast period.

Asia Pacific will observe Robust Growth Owing to Expanding Construction Industry

Expanding construction industry in Asia Pacific will majorly contribute to the development of the global hydraulic elevator market as there is a rising preference for elevators that are both cheap and reliable, in addition to the ones consuming less space.

Manufacturers to Focus on Acquiring Regional Markets in Europe 

In 2017, Schindler acquired the family-owned elevator company from Bielefeld, German Dralle Aufzüge GmbH & Co KG. Through this acquisition the company is trying to further complement Schindler Germany’s strategic direction, particularly to increase focus on customers in North Rhine-Westphalia. This acquisition will give the company a strong hold on the German market.

The major manufacturers in the market are Koood Elevator, Otis, Mitsubishi Electric, Yungtay Engineering, Hyundai, Joylive Elevator, Schindler, Fujitec, IGV, DAZO Elevator, ThyssenKrupp, Sicher Elevator, DNDT, and others.

About Us:

QY Research established in 2007, focus on custom research, management consulting, IPO consulting, industry chain research, data base and seminar services. The company owned a large basic data base (such as National Bureau of statistics database, Customs import and export database, Industry Association Database etc), expert’s resources (included energy automotive chemical medical ICT consumer goods etc.

Contact US

QY Research, INC.

17890 Castleton, Suite 218,

Los Angeles, CA – 91748

USA: +1 626 428 8800

China: +86 1082 945 717

Japan: +81 9038 009 273

India: +91 9766 478 224

Emails – enquiry@qyresearch.com 

QYR Clients

  • csl
  • croozer
  • crital alert
  • cristal
  • corveneng
  • coperion
  • contijpi medical
  • compass minerals
  • compass minerals
  • compass minerals
  • compass minerals
  • compass minerals
  • compass minerals
  • compass minerals
  • compass minerals
  • compass minerals
  • compass minerals
  • compass minerals
  • compass minerals
  • compass minerals
More Clients...