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), and Competitive Landscape.
Product Code: ETC001690 | Publication Date: Mar 2020 | Updated Date: Dec 2024 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
Report Name | New Zealand Elevator And Escalator Market |
Forecast period | 2025-2031 |
CAGR | 5.5% |
Growing Sector | Commercial and Residential Real Estate |
The New Zealand Elevator and Escalator Market Report thoroughly covers the market By Types, By Services, and By End-User. The New Zealand Elevator and Escalator Market Outlook report provides an unbiased and detailed analysis of the ongoing New Zealand Elevator and Escalator Market trends, opportunities/high growth areas, and market drivers. This would help the stakeholders devise and align their market strategies according to the current and future market dynamics.
New Zealand Elevator And Escalator Market is experiencing steady growth, driven by urbanization and the construction of high-rise buildings. With increasing investments in infrastructure and commercial real estate developments, the demand for efficient vertical transportation solutions is on the rise. Major cities like Auckland and Wellington are seeing a surge in residential and office buildings, necessitating advanced elevator and escalator systems to meet the needs of modern architecture. Additionally, the market is witnessing innovations in technology, focusing on energy efficiency and smart connectivity, which are further propelling the New Zealand Elevator and Escalator Market Growth.
According to 6Wresearch, the New Zealand Elevator and Escalator Market size is likely to grow, reaching at a CAGR of 5.5% during 2025-2031. The growth is proliferated by urbanization and an increasing number of high-rise buildings in metropolitan areas. One of the key trends includes the adoption of smart elevator technologies, which offer enhanced efficiency, safety, and user experience through advanced automation and connectivity features. However, the industry faces challenges such as high installation and maintenance costs, as well as strict safety regulations that demand continuous compliance and innovation. Despite these hurdles, emerging opportunities lie in the development of eco-friendly and energy-efficient systems, which are gaining traction due to the global emphasis on sustainability. Moreover, the rise in residential and commercial construction projects presents a lucrative market for new installations and upgrades.
The growing demand for smart elevators and escalators has also led to the introduction of new players in the market, intensifying competition among existing manufacturers. To stay ahead of the competition, companies are investing heavily in research and development (R&D) activities to innovate and improve their product offerings. This has resulted in the integration of cutting-edge technologies such as artificial intelligence (AI), Internet of Things (IoT), and cloud computing into elevators and escalators.
The New Zealand elevator and escalator industry is characterized by the presence of several companies who dominate the industry. Among these, Otis Elevator Company, Schindler Group, KONE Corporation, and Thyssenkrupp Elevator stand out for their significant market shares and extensive service networks. These companies have established themselves through robust engineering capabilities, innovative technology, and comprehensive maintenance services.
The New Zealand government has implemented various initiatives to support the growth and modernization of the elevator and escalator market. This includes stringent safety regulations and standards that ensure the reliability and efficiency of elevator and escalator systems. Additionally, government policies promoting urban development and infrastructure projects have created a conducive environment for market expansion. Public investments in smart building technologies and the accessibility of public spaces also drive demand for advanced elevator and escalator solutions.
New Zealand elevator and escalator market is poised for steady growth, driven by ongoing urban development and technological advancements. Increased focus on sustainability and energy efficiency is likely to lead to the adoption of eco-friendly elevator and escalator systems. Innovations such as smart elevators, which offer enhanced user experience through IoT integration and predictive maintenance, are expected to gain traction. Furthermore, the aging population and subsequent need for more accessible infrastructure indicate a rising demand for mobility solutions, suggesting a positive outlook for the market's future.
According to Ravi Bhandari, Research Head, 6Wresearch, the elevator segment accounted for a significant share and is expected to lead the market during the forecast period on account of increasing deployment in residential areas.
By services, new installations will remain the major revenue-generating source due to the ongoing construction and completion of projects such as Auckland Airport Road project, and the Sky City project. However, maintenance and modernization will also witness significant growth during the forecast period due to the aging of the installed base and strict safety regulations.
The report provides a detailed analysis of the following market segments
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 New Zealand Elevator and Escalator Market Overview |
3.1 New Zealand Country Indicators |
3.2 New Zealand Elevator & Escalator Market Revenues, 2021-2031F |
3.3 New Zealand Elevator & Escalator Market - Industry Life Cycle |
3.4 New Zealand Elevator & Escalator Market - Porter’s Five Forces |
4 New Zealand Elevator & Escalator Market Revenue Share, By Types, 2021&2031F |
4.1 New Zealand Elevator & Escalator Market Revenue Share, By Product Types, 2021&2031F |
4.2 New Zealand Elevator & Escalator Market Revenue Share, By Applications, 2021&2031F |
4.3 New Zealand Elevator & Escalator Market Dynamics |
5 Impact Analysis |
6 Market Drivers |
6.1 Market Restraints |
6.2 New Zealand Elevator & Escalator Market Trends |
6.3 New Zealand Elevator Market Overview |
6.4 New Zealand New Installation Elevator Market Revenues & Volume, 2021-2031F |
6.4.1 New Zealand New Installation Elevator Market Revenue & Volume Share, By Elevator Types, 2021&2031F |
6.4.2 New Zealand New Installation Elevator Market Revenues & Volume, By Elevator Types, 2021-2031F |
6.4.2.1 New Zealand Elevator Services Market Revenues, 2021-2031F |
6.4.2.2 New Zealand Elevator Services Market Revenue Share, By Service Types, 2021&2031F |
6.4.3 New Zealand Elevator Services Market Revenues, By Service Types, 2021-2031F |
6.4.3.1 New Zealand Elevator Market Overview, By Applications, 2021-2031F |
6.4.3.2 New Zealand Elevator Market Revenue Share, By Applications, 2021&2031F |
6.5 New Zealand Elevator Market Revenues, By Applications, 2021-2031F |
6.5.1 New Zealand Escalator Market Overview |
6.5.2 New Zealand New Installation Escalator Market Revenues & Volume, 2021-2031F |
6.5.2.1 New Zealand New Installation Escalator Market Revenue & Volume Share, By Escalator Types, 2021&2031F |
6.5.2.2 New Zealand New Installation Escalator Market Revenues & Volume, By Escalator Types, 2021-2031F |
6.5.3 New Zealand Escalator Services Market Revenues, 2021-2031F |
6.5.3.1 New Zealand Escalator Services Market Revenue Share, By Service Types, 2021&2031F |
6.5.3.2 New Zealand Escalator Services Market Revenues, By Service Types, 2021-2031F |
6.6 New Zealand Escalator Market Overview, By Applications, 2021-2031F |
6.6.1 New Zealand Escalator Market Revenue Share, By Applications, 2021&2031F |
6.6.2 New Zealand Escalator Market Revenues, By Applications, 2021-2031F |
6.6.2.1 New Zealand Elevator & Escalator Market Overview, By Applications |
6.6.2.2 New Zealand Elevator & Escalator Market Revenues, By Residential Application, 2021-2031F |
6.6.3 New Zealand Elevator & Escalator Market Revenues, By Commercial Application, 2021-2031F |
6.6.3.1 New Zealand Elevator & Escalator Market Revenues, By Industrial Application, 2021-2031F |
6.6.3.2 New Zealand Elevator & Escalator Market Key Performance Indicators |
6.7 New Zealand Elevator & Escalator Market Opportunity Assessment |
6.8 New Zealand Elevator & Escalator Market Opportunity Assessment, By Types, 2031F |
6.8.1 New Zealand Elevator & Escalator Market Opportunity Assessment, By Applications, 2031F |
6.9 New Zealand Elevator & Escalator Market Competitive Landscape |
6.9.1 New Zealand Elevator & Escalator Market Competitive Benchmarking, By Product Types |
6.9.2 New Zealand Elevator & Escalator Market Revenue Share, By Company, 2024 |
7 Company Profiles |
8 Key Strategic Recommendations |
9 Disclaimer |
LIST OF FIGURES |
Figure 1. New Zealand Elevator & Escalator Market Revenues, 2021-2031F ($ Million) |
Figure 2. New Zealand Elevator & Escalator Market - Industry Life Cycle |
Figure 3. New Zealand Elevator & Escalator Market Revenue Share, By Types, 2021&2031F |
Figure 4. New Zealand Elevator & Escalator Market Revenue Share, By Product Types, 2021&2031F |
Figure 5. New Zealand Elevator & Escalator Market Revenue Share, By Applications, 2021&2031F |
Figure 6. New Zealand New Installation Elevator Market Revenues & Volume, 2021-2031F ($ Million, Thousand Units) |
Figure 7. New Zealand New Installation Elevator Market Revenue Share, By Elevator Types, 2021&2031F |
Figure 8. New Zealand New Installation Elevator Market Volume Share, By Elevator Types, 2021&2031F |
Figure 9. New Zealand Elevator Services Market Revenues, 2021-2031F ($ Million) |
Figure 10. New Zealand Elevator Services Market Revenue Share, By Service Types, 2021&2031F |
Figure 11. New Zealand Elevator Market Revenue Share, By Applications, 2021&2031F |
Figure 12. New Zealand New Installation Escalator Market Revenues & Volume, 2021-2031F ($ Million, Thousand Units) |
Figure 13. New Zealand New Installation Escalator Market Revenue Share, By Escalator Types, 2021&2031F |
Figure 14. New Zealand New Installation Escalator Market Volume Share, By Escalator Types, 2021&2031F |
Figure 15. New Zealand Escalator Services Market Revenues, 2021-2031F ($ Million) |
Figure 16. New Zealand Escalator Services Market Revenue Share, By Service Types, 2021&2031F |
Figure 17. New Zealand Escalator Market Revenue Share, By Applications, 2021&2031F |
Figure 18. New Zealand Elevator & Escalator Market Revenues, By Residential Application, 2021-2031F ($ Million) |
Figure 19. New Zealand Elevator & Escalator Market Revenues, By Commercial Application, 2021-2031F ($ Million) |
Figure 20. New Zealand Elevator & Escalator Market Revenues, By Industrial Application, 2021-2031F ($ Million) |
Figure 21. New Zealand Elevator & Escalator Market Opportunity Assessment, By Types, 2031F |
Figure 22. New Zealand Elevator & Escalator Market Opportunity Assessment, By Applications, 2031F |
LIST OF TABLES |
Table 1. New Zealand New Installation Elevator Market Revenues, By Elevator Types ($ Million) |
Table 2. New Zealand New Installation Elevator Market Volume, By Elevator Types (Thousand Units) |
Table 3. New Zealand Elevator Services Market Revenues, By Service Types ($ Million) |
Table 4. New Zealand Elevator Market Revenues, By Applications, 2021-2031F, ($ Million) |
Table 5. New Zealand New Installation Escalator Market Revenues, By Escalator Types ($ Million) |
Table 6. New Zealand New Installation Escalator Market Volume, By Escalator Types (Thousand Units) |
Table 7. New Zealand Escalator Services Market Revenues, By Service Types ($ Million) |
Table 8. New Zealand Escalator Market Revenues, By Applications, 2021-2031F, ($ Million) |