Africa Elevator And Escalator Market (2022-2028) | Outlook, Forecast, Size, Trends, Value, Revenue, Analysis, Growth, Industry, Share, Segmentation & COVID-19 IMPACT

Latest (2024) Development of the Africa Elevator And Escalator Market

The elevator and escalator market in Africa is poised for significant growth, driven by urbanization and rapid economic development across the continent. Countries such as Nigeria, Kenya, and South Africa are witnessing increased investments in residential, commercial, and infrastructural projects, necessitating modern vertical transportation systems. 

Furthermore, the trend towards sustainable and green building solutions is influencing the Africa Elevator And Escalator Market Growth, prompting manufacturers to innovate and implement eco-friendly technologies. Government initiatives aimed at improving public infrastructure and transport networks will also be a crucial factor in this market's expansion. The competitive landscape is expected to become more dynamic as both global giants and local firms strive to capture market share through technological advancements and strategic collaborations.

Topics Covered in the Africa Elevator and Escalator Market

Africa Elevator and Escalator Market report comprehensively covers the market by types, by applications, by services, by countries.  Africa Elevator and Escalator market report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas, market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Africa Elevator and Escalator Market Synopsis

Africa Elevator and Escalator market is anticipated to grow significantly on the back of investment in infrastructure projects coupled with rise in residential and housing projects. Additionally, the rise in number of hotel chain pipelines would also increase the elevator and escalator market in Africa region.

According to 6Wresearch, Africa Elevator and Escalator market size is projected to grow at a CAGR of 8.5% during 2022-2028. the demand for elevators and escalators in Africa saw a sharp decline owing to the pandemic during the year 2020 as economic activities were suspended to curb the effect of the pandemic. Moreover, supply chain also got hampered thereby, further declining the demand and the revenues of elevators and escalators in Africa. However, investment in infrastructure by African nations along with increasing number of hotel chains in the pipeline in Africa coupled with the growing number of skyscrapers such as Iconic Tower in Egypt, 88 Nairobi in Kenya would act as major driver for growth of elevator and escalator in Africa. Moreover, growing residential sector and housing projects such as “Cornubia housing project” in South Africa, “Affordable Housing Project” by Kenyan government would also act as a catalyst in growth of elevator and escalator market in Africa. 

Market by Types

Elevators acquired the maximum revenue share by types, in Africa elevator and escalator market owing to their extensive usage in commercial, residential and industrial spaces. Elevators usually acquire less space in comparison to escalators hence further augmenting their growth. The increasing number of hotel projects such Premier Hotel Building in South Africa, Rotana Hotel in Tanzania would help the elevator market to grow. Additionally, offices and residential space in African countries would also expand the market for elevators in the years ahead.

Market by Applications

Commercial sector acquired the maximum revenue share in Africa elevator and escalator market on the back of growing hospitality sector. Moreover, the establishment of 300 hotel projects in the coming years would further grow the market of commercial sector.

In South Africa elevator and escalator market, by service types, new installation is expected to dominate the market in terms of revenue on account of upcoming projects in the country such as Durban Tower, Modderfontein New City that would require the installation of multiple elevator and escalators.

Africa Elevator And Escalator Market: Key Players

The Africa elevator and escalator market is highly competitive, featuring several notable companies that drive innovation and maintain significant market shares. Key players in this market include global giants such as Otis Elevator Company, Schindler Group, KONE Corporation, and thyssenkrupp AG. These companies are renowned for their extensive experience, cutting-edge technology, and comprehensive service offerings, which include the installation, maintenance, and modernization of elevators and escalators. Additionally, local firms such as Johannesburg Elevators and African Mechanical and Superlift Limited also contribute to the market by providing customized solutions tailored to the specific needs of various African regions. 

Africa Elevator And Escalator Market: Government Initiatives

Government initiatives across Africa have played a crucial role in fostering growth within the elevator and escalator market. Many African nations are investing heavily in infrastructure development, urbanization projects, and public transport systems, which inherently demand modern vertical transportation solutions. For instance, countries like Nigeria and South Africa have launched ambitious programs to develop smart cities, incorporating advanced elevators and escalators to meet the rising needs of urban populations. Additionally, regulatory frameworks emphasizing safety standards and energy efficiency have prompted the adoption of state-of-the-art elevator and escalator technologies. Government incentives for sustainable building practices also encourage the use of eco-friendly vertical transportation solutions, further propelling the Africa Elevator And Escalator Market. Through these initiatives, governments are not only addressing current mobility challenges but also setting the stage for long-term economic and infrastructural development.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2018 to 2028.
• Base Year: 2021
• Forecast Data until 2028.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report

• Historical data & forecast of Africa Elevator and Escalator Market Revenues for the Period 2018-2028F
• Historical data & Forecast of South Africa Elevator and Escalator Market Revenues & Volume for the Period 2018-2028F
• Historical data & Forecast of South Africa Elevator and Escalator Market Revenues, By Types, Applications and Services for the Period 2018-2028F
• Historical data & Forecast of Egypt Elevator and Escalator Market Revenues & Volume for the Period 2018-2028F
• Historical data & Forecast of Egypt Elevator and Escalator Market Revenues, By Types, Applications and Services for the Period 2018-2028F
• Historical data & Forecast of Kenya Elevator and Escalator Market Revenues & Volume for the Period 2018-2028F
• Historical data & Forecast of Kenya Elevator and Escalator Market Revenues, By Types, Applications and Services for the Period 2018-2028F
• Historical data & Forecast of Nigeria Elevator and Escalator Market Revenues & Volume for the Period 2018-2028F
• Historical data & Forecast of Nigeria Elevator and Escalator Market Revenues, By Types, Applications and Services for the Period 2018-2028F
• Historical data & Forecast of Ghana Elevator and Escalator Market Revenues & Volume for the Period 2018-2028F
• Historical data & Forecast of Ghana Elevator and Escalator Market Revenues, By Types, Applications and Services for the Period 2018-2028F
• Historical data & Forecast of Tanzania Elevator and Escalator Market Revenues & Volume for the Period 2018-2028F
• Historical data & Forecast of Tanzania Elevator and Escalator Market Revenues, By Types, Applications and Services for the Period 2018-2028F
• Historical data & Forecast of Algeria Elevator and Escalator Market Revenues & Volume for the Period 2018-2028F
• Historical data & Forecast of Algeria Elevator and Escalator Market Revenues, By Types, Applications and Services for the Period 2018-2028F
• Historical data & Forecast of Morocco Elevator and Escalator Market Revenues & Volume for the Period 2018-2028F
• Historical data & Forecast of Morocco Elevator and Escalator Market Revenues, By Types, Applications and Services for the Period 2018-2028F
• Historical data & Forecast of Rest of the Africa Region Elevator and Escalator Market Revenues for the Period 2018-2028F
• Market Drivers, Restraints and Trends
• Market Trends and Industry Life Cycle
• Porter’s Five Force Analysis
• Market Opportunity Assessment
• Market Player’s Revenue Shares
• Market Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

By Power Rating

• Elevator
  • Passenger
  • Home
  • Cargo
• Elevator
  • Passenger
  • Home
  • Cargo

By Applications

• Commercial
• Residential
• Industrial

By Services

• New Installation
• Modernisation
• Maintenance

By Countries

• South Africa
• Egypt
• Nigeria
• Algeria
• Morocco
• Kenya
• Tanzania
• Ghana
• Ethiopia
• Rest of Africa