Malaysia Elevator & Escalator Market (2024-2030) | Size, Share, Revenue, Analysis, Forecast, Trends, Growth, Industry & Outlook
Market Forecast By Types (Elevator(Passenger, Cargo & Home), Escalator (Moving Stairs & Moving Walkways), By Applications (Residential, Commercial & Industrial), By Services (New Installation, Modernization and Maintenance), By Regions (Northern Region, East Coast, Central Region, Eastern Region and Southern Region) and Competitive Landscape.
| Product Code: ETC000959 | Publication Date: Jan 1970 | Updated Date: Jul 2024 | Product Type: Report | |
| Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
Malaysia Elevator & Escalator Market Highlights
| Report Name | Malaysia Elevator & Escalator Market |
| Forecast period | 2024-2030 |
| CAGR | 6.2% |
| Growing Sector | Real Estate and Construction |
Topics Covered in Malaysia Elevator & Escalator Market Report
Malaysia Elevator & Escalator Market report thoroughly covers the market by types, applications, services and regions. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Malaysia Elevator & Escalator Market Synopsis
Malaysia Elevator & Escalator Market is experiencing significant growth and projected to attain more growth in the coming years due to rapid urbanization and rising infrastructure development. With the country's increasing focus on modernizing its cities and enhancing public transportation systems, the demand for efficient vertical transportation solutions has surged. This growth is further bolstered by the expanding real estate sector, including both residential and commercial projects, which often require sophisticated elevator and escalator systems to meet the needs of high-rise buildings and shopping complexes.
According to 6Wresearch, Malaysia Elevator & Escalator Market size is expected to grow at a CAGR of 6.2% during 2024-2030. Several factors are driving the growth of Malaysia Elevator & Escalator Market such as the government's commitment to urbanization and infrastructure development has led to increased investments in high-rise buildings, commercial spaces, and integrated townships. This urban expansion has naturally escalated the need for reliable and advanced vertical transportation. Apart from this, the booming real estate sector, particularly with the rise of luxury residential complexes and state-of-the-art commercial buildings, has surged the demand for sophisticated elevator and escalator systems. Additionally, there is a growing emphasis on sustainability and energy efficiency, prompting the market to increasingly adopt green building practices and modern, eco-friendly elevators and escalators.
However, Malaysia Elevator & Escalator Market faces few restraints such as the high initial cost associated with the installation and maintenance of advanced elevator and escalator systems. These costs can be prohibitive for smaller developers and property owners, limiting the adoption of cutting-edge vertical transportation technologies. Additionally, stringent regulatory requirements and safety standards impose additional compliance costs and extended timelines for project completion. Another significant challenge is the ongoing economic uncertainties that can impact investment in large-scale infrastructure and real estate projects. Furthermore, the market is also hindered by the lack of skilled technicians and engineers specialized in elevator and escalator maintenance.
Malaysia Elevator & Escalator Market Leading Players
The key players include Otis Elevator Company, Schindler Group, KONE Corporation, Mitsubishi Electric Corporation, Thyssenkrupp Elevator, Fujitec Co. These companies are known for their engineering excellence, offer state-of-the-art elevators and escalators that cater to diverse market needs.
Malaysia Elevator & Escalator Market Government Regulations
Malaysia Elevator & Escalator Market is growing and government’s regulation and policies are helping in extension of the market. National Housing Policy which aims to develop affordable high-rise residential units, directly increasing the demand for vertical transportation solutions. Additionally, substantial investments are being directed towards urban development and public infrastructure projects, including the construction of new airports, metro stations, and commercial complexes that necessitate the use of advanced elevators and escalators. The government is also promoting green and sustainable building practices through incentives and policies that encourage the integration of energy-efficient technologies in construction.
Future Insights of the Market
The future of Malaysia Elevator & Escalator Market looks promising due to the convergence of technological advancements and a dynamic urban landscape. As cities continue to expand vertically, the demand for smarter, more efficient vertical transportation solutions is expected to rise. Innovations such as AI-driven predictive maintenance, which utilizes machine learning algorithms to predict and prevent equipment failures before they occur, are likely to become mainstream, enhancing reliability and reducing downtime. Additionally, the increasing integration of Internet of Things (IoT) technology will enable real-time monitoring and remote management of elevator and escalator systems, leading to more responsive and user-friendly experiences.
Market Segmentation by Types
According to Ravi Bhandari, Research Head, 6Wresearch, passenger elevators are projected to dominate the market growth in coming years attributed to the rising number of skyscrapers and the growing emphasis on modern urban living standards.
Market Segmentation by Applications
Residential sectors is poised for significant growth in coming years due to ongoing urbanization and the increasing popularity of vertical living. As cities become more densely populated, the construction of high-rise residential buildings has surged, necessitating efficient and reliable vertical transportation.
Market Segmentation by Services
New installation segment is anticipated to experience substantial growth in future attributed to the ongoing urbanization and the construction of high-rise buildings. Increasing investments in infrastructure projects and smart city initiatives will further fuel the demand.
Market Segmentation by Regions
Northern Region is projected to witness significant market growth in coming years attributed to extensive urban development and infrastructural initiatives. Major cities in this region are experiencing a surge in both residential and commercial construction projects.
Key Attractiveness of the Report
- 10 Years Market Numbers.
- Historical Data Starting from 2020 to 2023.
- Base Year 2023
- Forecast Data until 2030.
- Key Performance Indicators Impacting the Market.
- Major Upcoming Developments and Projects.
Key Highlights of the Report
- Malaysia Elevator and Escalator Market Overview
- Malaysia Elevator and Escalator Market Outlook
- Malaysia Elevator and Escalator Market Forecast
- Malaysia Elevator and Escalator Market Size and Historical Data of Malaysia Elevator and Escalator Market Revenues & Volume for the Period 2020-2030
- Malaysia Elevator and Escalator Market Forecast of Revenues & Volume until 2030
- Historical data & Forecast of Malaysia Elevator and Escalator Market Revenues, By Types, Applications and Services for the Period 2020-2030F
- Historical data & Forecast of Malaysia Elevator Market Revenues & Volume for the Period 2020-2030F
- Historical data & Forecast of Malaysia Escalator Market Revenues & Volume for the Period 2020-2030F
- Historical data & Forecast of Malaysia Elevator Market Revenues, By Types, Applications and Services for the Period 2020-2030F
- Historical data & Forecast of Malaysia Escalator Market Revenues, By Types, Applications and Services for the Period 2020-2030F
- Historical data & Forecast of Malaysia Elevator and Escalator Regional Market Revenues for the Period 2020-2030F
- Market Drivers, Restraints and Trends
- Malaysia Elevator and Escalator Market Trends and Industry Life Cycle
- Porter’s Five Force Analysis
- Malaysia Elevator and Escalator Market Opportunity Assessment
- Malaysia Elevator and Escalator Market Share, By Players
- Malaysia Elevator and Escalator Market Overview, By Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
Market Covered
The report offers a comprehensive study of the subsequent market segments
By Types
- Elevators
- Passenger Elevators
- Cargo Elevators
- Home Elevators
- Escalators
- Moving Stairs
- Moving Walkways
By Applications
- Residential
- Commercial
- Industrial
By Services
- New Installation
- Modernization
- Maintenance
By Regions
- Northern Region
- East Coast
- Central Region
- Eastern Region
- Southern Region
Malaysia Elevator & Escalator Market (2024-2030); FAQs
The factors that are driving the market growth are urbanization and infrastructure development, booming real estate sector and technological innovations.
The challenges faced by market are the high initial cost, stringent regulatory requirements and safety standards and the lack of skilled technicians.
The key players include Otis Elevator Company, Schindler Group, KONE Corporation, Mitsubishi Electric Corporation, Thyssenkrupp Elevator, Fujitec Co.
Government initiatives introduced in the market are affordable high-rise residential units, urban development and public infrastructure projects and promotion green and sustainable building practices.
6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.
Yes, we provide customisation as per your requirements. To learn more, feel free to contact us on sales@6wresearch.com
| 1 Executive Summary |
| 2 Introduction |
| 2.1 Report Description |
| 2.2 Key Highlights |
| 2.3 Market Scope & Segmentation |
| 2.4 Research Methodology |
| 2.5 Assumptions |
| 3 Malaysia Elevator and Escalator Market Overview |
| 3.1 Malaysia Elevator & Escalator Market Revenues, 2020-2030F |
| 3.2 Malaysia Elevator & Escalator Market - Industry Life Cycle |
| 3.3 Malaysia Elevator & Escalator Market - Porter’s Five Forces |
| 3.4 Malaysia Elevator & Escalator Market Revenue Share, By Types, 2020 & 2030F |
| 3.5 Malaysia Elevator & Escalator Market Revenue Share, By Product Types, 2020 & 2030F |
| 3.6 Malaysia Elevator & Escalator Market Revenue Share, By Applications, 2020 & 2030F |
| 4 Malaysia Elevator & Escalator Market Dynamics |
| 4.1 Impact Analysis |
| 4.2 Market Drivers |
| 4.3 Market Restraints |
| 5 Malaysia Elevator & Escalator Market Trends |
| 6 Malaysia Elevator Market Overview |
| 6.1 Malaysia New Installation Elevator Market Revenues & Volume, 2020-2030F |
| 6.1.1 Malaysia New Installation Elevator Market Revenue & Volume Share, By Elevator Types, 2020 & 2030F |
| 6.1.1.1 Malaysia New Installation Elevator Market Revenues & Volume, By Elevator Types, 2020-2030F |
| 6.2 Malaysia Elevator Services Market Revenues, 2020-2030F |
| 6.2.1 Malaysia Elevator Services Market Revenue Share, By Service Types, 2020 & 2030F |
| 6.2.1.1 Malaysia Elevator Services Market Revenues, By Service Types, 2020-2030F |
| 6.3 Malaysia Elevator Market Overview, By Applications, 2020-2030F |
| 6.3.1 Malaysia Elevator Market Revenue Share, By Applications, 2020 & 2030F |
| 6.3.1.1 Malaysia Elevator Market Revenues, By Applications, 2020-2030F |
| 7 Malaysia Escalator Market Overview |
| 7.1 Malaysia New Installation Escalator Market Revenues & Volume, 2020-2030F |
| 7.1.1 Malaysia New Installation Escalator Market Revenue & Volume Share, By Escalator Types, 2020 & 2030F |
| 7.1.1.1 Malaysia New Installation Escalator Market Revenues & Volume, By Escalator Types, 2020-2030F |
| 7.2 Malaysia Escalator Services Market Revenues, 2020-2030F |
| 7.2.1 Malaysia Escalator Services Market Revenue Share, By Service Types, 2020 & 2030F |
| 7.2.1.1 Malaysia Escalator Services Market Revenues, By Service Types, 2020-2030F |
| 7.3 Malaysia Escalator Market Overview, By Applications, 2020-2030F |
| 7.3.1 Malaysia Escalator Market Revenue Share, By Applications, 2020 & 2030F |
| 7.3.1.1 Malaysia Escalator Market Revenues, By Applications, 2020-2030F |
| 8 Malaysia Elevator & Escalator Market Overview, By Applications |
| 8.1 Malaysia Elevator & Escalator Market Revenues, By Residential Application, 2020-2030F |
| 8.2 Malaysia Elevator & Escalator Market Revenues, By Commercial Application, 2020-2030F |
| 8.3 Malaysia Elevator & Escalator Market Revenues, By Industrial Application, 2020-2030F |
| 9 Malaysia Elevator & Escalator Market Key Performance Indicators |
| 10 Malaysia Elevator & Escalator Market Opportunity Assessment |
| 10.1 Malaysia Elevator & Escalator Market Opportunity Assessment, By Types, 2030F |
| 10.2 Malaysia Elevator & Escalator Market Opportunity Assessment, By Applications, 2030F |
| 11 Malaysia Elevator & Escalator Market Competitive Landscape |
| 11.1 Malaysia Elevator & Escalator Market Competitive Benchmarking, By Product Types |
| 11.2 Malaysia Elevator & Escalator Market Revenue Share, By Company, 2023 |
| 12 Company Profiles |
| 13 Key Strategic Recommendations |
| 14 Disclaimer |
| LIST OF FIGURES |
| Figure 1. Malaysia Elevator & Escalator Market Revenues, 2020-2030F ($ Million) |
| Figure 2. Malaysia Elevator & Escalator Market - Industry Life Cycle |
| Figure 3. Malaysia Elevator & Escalator Market Revenue Share, By Types, 2020 & 2030F |
| Figure 4. Malaysia Elevator & Escalator Market Revenue Share, By Product Types, 2020 & 2030F |
| Figure 5. Malaysia Elevator & Escalator Market Revenue Share, By Applications, 2020 & 2030F |
| Figure 6. Malaysia New Installation Elevator Market Revenues & Volume, 2020-2030F ($ Million, Thousand Units) |
| Figure 7. Malaysia New Installation Elevator Market Revenue Share, By Elevator Types, 2020 & 2030F |
| Figure 8. Malaysia New Installation Elevator Market Volume Share, By Elevator Types, 2020 & 2030F |
| Figure 9. Malaysia Elevator Services Market Revenues, 2020-2030F ($ Million) |
| Figure 10. Malaysia Elevator Services Market Revenue Share, By Service Types, 2020 & 2030F |
| Figure 11. Malaysia Elevator Market Revenue Share, By Applications, 2020 & 2030F |
| Figure 12. Malaysia New Installation Escalator Market Revenues & Volume, 2020-2030F ($ Million, Thousand Units) |
| Figure 13. Malaysia New Installation Escalator Market Revenue Share, By Escalator Types, 2020 & 2030F |
| Figure 14. Malaysia New Installation Escalator Market Volume Share, By Escalator Types, 2020 & 2030F |
| Figure 15. Malaysia Escalator Services Market Revenues, 2020-2030F ($ Million) |
| Figure 16. Malaysia Escalator Services Market Revenue Share, By Service Types, 2020 & 2030F |
| Figure 17. Malaysia Escalator Market Revenue Share, By Applications, 2020 & 2030F |
| Figure 18. Malaysia Elevator & Escalator Market Revenues, By Residential Application, 2020-2030F ($ Million) |
| Figure 19. Malaysia Elevator & Escalator Market Revenues, By Commercial Application, 2020-2030F ($ Million) |
| Figure 20. Malaysia Elevator & Escalator Market Revenues, By Industrial Application, 2020-2030F ($ Million) |
| Figure 21. Malaysia Elevator & Escalator Market Opportunity Assessment, By Types, 2030F |
| Figure 22. Malaysia Elevator & Escalator Market Opportunity Assessment, By Applications, 2030F |
| LIST OF TABLES |
| Table 1. Malaysia New Installation Elevator Market Revenues, By Elevator Types ($ Million) |
| Table 2. Malaysia New Installation Elevator Market Volume, By Elevator Types (Thousand Units) |
| Table 3. Malaysia Elevator Services Market Revenues, By Service Types ($ Million) |
| Table 4. Malaysia Elevator Market Revenues, By Applications, 2020-2030F, ($ Million) |
| Table 5. Malaysia New Installation Escalator Market Revenues, By Escalator Types ($ Million) |
| Table 6. Malaysia New Installation Escalator Market Volume, By Escalator Types (Thousand Units) |
| Table 7. Malaysia Escalator Services Market Revenues, By Service Types ($ Million) |
| Table 8. Malaysia Escalator Market Revenues, By Applications, 2020-2030F, ($ Million) |
Market Forecast By Types (Elevator(Passenger, Cargo & Home), Escalator (Moving Stairs & Moving Walkways), By Applications (Residential, Commercial & Industrial), By Services (New Installation, Modernization and Maintenance), By Regions (Northern Region, East Coast, Central Region, Eastern Region and Southern Region) and Competitive Landscape.
| Product Code: ETC000959 | Publication Date: Mar 2023 | Product Type: Report | |
| Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 |
Malaysia Elevator And Escalator Market | Country-Wise Share and Competition Analysis
In the year 2021, China was the largest exporter in terms of value, followed by Thailand. It has registered a growth of 25.25% over the previous year. While Thailand registered a decline of -21.3% as compared to the previous year. In the year 2017, China was the largest exporter followed by Thailand. In terms of the Herfindahl Index, which measures the competitiveness of countries exporting, Malaysia has a Herfindahl index of 4975 in 2017 which signifies high concentration also in 2021 it registered a Herfindahl index of 6327 which signifies high concentration in the market.
Malaysia Elevator And Escalator Market - Export Market Opportunities
Latest 2023 Development of the Malaysia Elevator and Escalator Market
Malaysia Elevator and Escalator Market are forecast to grow significantly by the rapidly growing urbanization and infrastructure development, particularly in major cities like Penang and Kuala Lumpur. Another factor contributing to the market expansion is the increasing focus on safety and energy efficiency. Moreover, Elevator and escalator manufacturers are developing new technologies to improve safety features and reduce energy consumption. This is important for building owners and operators. The rapid urbanization of cities in Malaysia and the increase in demand for high-rise buildings in urban areas has resulted in the need for more vertical transportation systems such as elevators and escalators.
Moreover, the advancements in elevator and escalator technology have made them more energy-efficient which has increased their demand in the overall market. The geriatric population of Malaysia is increasing. In response to this, there is a greater need for elevators and escalators to facilitate easy mobility for the elderly and disabled individuals. Furthermore, the growing tourism industry has resulted in an increase in the construction of hotels and shopping malls. This has created a need for more elevators and escalators to cater to the needs of tourists and further escalate the Malaysia Elevator and Escalator Market Share.
Topics Covered in Malaysia Elevator And Escalator Market
The Malaysia Elevator And Escalator Market report thoroughly covers the market by types, applications, services, and regions. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Malaysia Elevator and Escalator Market Synopsis
Malaysia elevator and escalator market is expected to witness strong growth during the forecast period which can be attributed to major developments in the areas of public infrastructure. With the revival of projects such as East Coast Rail Link and High-Speed Rail the elevators and escalators market is expected to witness a significant push in demand during the forecast period.
According to 6Wresearch, Malaysia elevator and escalator market size is projected to grow at a CAGR of 4.9% during 2019-2025. The Malaysia elevator and escalator market is expected to witness significant growth owing to positive development in the construction sector of the economy with major public infrastructure creating a demand potential and its multiplying impact would provide a sustainable environment for the growth of the elevator and escalator market in the region. The region is expected to recover from the current slowdown and a revival of demand is expected post-2019. Due to increasing infrastructural spending as well as the expected revival of major projects such as Klang Valley MRT Line 3, and Kuala Lumpur-Singapore High-Speed Rail. Further, the country is expected to move out of political uncertainties which are expected to supplement the growth of the market during the forecast period. Additionally, growing trends of investment and FDI are expected to boost the commercial and industrial sectors of the country. As the country plans to rapidly urbanise its residential segment is set to grow at the highest pace. Further, government housing projects and the overall demand for housing would boost the demand for high-rise construction of housing apartments in the region.
Malaysia Elevator And Escalator Market: Key Players
Some of the major players in the industry include:
- Schindler Lifts (Malaysia) Sdn Bhd
- Otis Elevator Company (Malaysia) Sdn Bhd
- Mitsubishi Electric Malaysia Sdn Bhd
- KONE Elevator (Malaysia) Sdn Bhd
- Hitachi Elevator (Malaysia) Sdn Bhd
- Toshiba Elevator & Building Systems Corporation (Malaysia) Sdn Bhd
- Hyundai Elevator (Malaysia) Sdn Bhd
- Sigma Elevator (Malaysia) Sdn Bhd
- Kleemann Lifts (Malaysia) Sdn Bhd.
- Fujitec (Malaysia) Sdn Bhd
Market Analysis by Application
By Applications, the commercial application remains the dominating force due to a major rise in business activities and increasing flow of investment and booming investment in public infrastructure as well as tourism.
Key Attractiveness of the Report
- 10 Years Market Numbers.
- Historical Data Starting from 2015 to 2018.
- Base Year: 2018.
- Forecast Data until 2025.
- Key Performance Indicators Impacting the Market.
- Major Upcoming Developments and Projects.
Key Highlights of the Report
- Malaysia Elevator and Escalator Market Overview
- Malaysia Elevator and Escalator Market Outlook
- Malaysia Elevator and Escalator Market Forecast
- Malaysia Elevator and Escalator Market Size and Historical Data of Malaysia Elevator and Escalator Market Revenues & Volume for the Period 2015-2018
- Malaysia Elevator and Escalator Market Forecast of Revenues & Volume until 2025
- Historical data & Forecast of Malaysia Elevator and Escalator Market Revenues, By Types, Applications and Services for the Period 2015-2025F
- Historical data & Forecast of Malaysia Elevator Market Revenues & Volume for the Period 2015-2025F
- Historical data & Forecast of Malaysia Escalator Market Revenues & Volume for the Period 2015-2025F
- Historical data & Forecast of Malaysia Elevator Market Revenues, By Types, Applications and Services for the Period 2015-2025F
- Historical data & Forecast of Malaysia Escalator Market Revenues, By Types, Applications and Services for the Period 2015-2025F
- Historical data & Forecast of Malaysia Elevator and Escalator Regional Market Revenues for the Period 2015-2025F
- Market Drivers, Restraints and Trends
- Malaysia Elevator and Escalator Market Trends and Industry Life Cycle
- Porter’s Five Force Analysis
- Malaysia Elevator and Escalator Market Opportunity Assessment
- Malaysia Elevator and Escalator Market Share, By Players
- Malaysia Elevator and Escalator Market Overview, By Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
Markets Covered
The Malaysia elevator and escalator market report provides a detailed analysis of the following market segments:
By Types
- Elevator
- Passenger
- Cargo
- Home
- Escalator
- Moving Stairs
- Moving Walks
By Applications
- Commercial
- Residential
- Industrial
By Services
- New Installations
- Maintenance
- Modernization
Pricing
- Single User License$ 1,995
- Department License$ 2,400
- Site License$ 3,120
- Global License$ 3,795
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