Top 10 elevator & escalator market leader in UAE list | Suppliers 2024

UAE Elevator & Escalator Market Companies Analysis

According to the market study by 6Wresearch, there are several companies dominating the UAE Elevator & Escalator Market. Key players have the most significant role to play in the successful progression of the market. Companies in the market have been constantly focusing on driving innovation and technological advancements. In order to deliver improved products that can meet the needs of customers, companies invest in R&D programmes. Companies operating in the market are working to develop elevators and escalators that use less power and are environmentally friendly. 

Leading companies in the market provide reliable and high-quality products. They also deliver maintenance and repair services in order to ensure the efficiency of their products. This provides satisfaction to customers and aids in building strong bonds between the companies and their customers. Key players always work on strategies and are driven to their purpose of delivering the best quality products to their customers. UAE Elevator & Escalator Market obtained the significant revenue share in the last few years and is projected to attain more growth in the future. It is predicted that the UAE Elevator & Escalator Market will attain the Compound Annual Growth Rate (CAGR) of 7.5% during 2024-2030.

List of Leading Companies in the UAE Elevator & Escalator Market

1. Otis Elevator Co.

Otis Elevator Company is headquartered in Connecticut, United States of America. The company manufactures, installs, and maintains elevators, escalators and moving walkways. The company operates in the Middle East through its regional offices.

The first passenger elevator was introduced by the Otis Elevator company at the Crystal Palace Convention in New York City in 1853, and the first passenger elevator was installed in New York City in 1856. The first skyscraper built in Chicago used the Otis elevator. Later, Otis developed gear gearless traction system that involved cables and ran on electricity. The first escalator was also built in this period.

2. Schindler Group

Schindler Pars International is the wholly owned subsidiary of Schindler Group, which operates in the Middle East and Africa. The Company deals in manufacturing, installation, maintenance, and modernization of elevators, escalators and moving walks.

3. Kone Corporation

KONE corporation is headquartered in Helsinki, Finland. The company offers elevators, escalators, auto walks, automatic doors, monitoring and access control systems. The company also offers maintenance and modernization services.

Kone Corporation has secured the highest volume share among its competitors due to its extensive distribution network. In 2019 company established its first regional distribution center Dubai South Freezone (DWC), United Arab Emirates to further enhance their operations in the country. Further, in 2018, the company received an order for 50 elevators and 70 escalators for the Reem Mall in Abu Dhabi which is scheduled to open in 2022.

4. Hyundai Elevator Co. Ltd

Hyundai Elevator Co. Ltd is headquartered in Incheon, South Korea and is a subsidiary of Hyundai Group. The company designs, manufactures, installs and maintains elevators, escalators & moving walks and operates in Middle East through a network of dealers and distributors such as ESCCO in Saudi Arabia, BHNOE Elevator LLC in UAE, among others.

5. Toshiba Corporation

Toshiba Elevator and Building Systems is a subsidiary of Toshiba Corporation which is headquartered in Tokyo, Japan. The company designs, develops, manufactures, installs and inspects elevators and escalators. The company operates in Middle East through its subsidiary Toshiba elevators Middle East LLC which is headquartered in Dubai.

6. Mitsubishi Electric Corporation

Mitsubishi Electric Corporation is headquartered in Tokyo, Japan. The company deals in installation, maintenance and modernization of elevators and escalators in Middle East through its subsidiaries such as AG MELCO Elevator Co. L.L.C in UAE, Mitsubishi Electric Saudi Ltd. in Saudi Arabia, among others.

7. TK Elevator

TK elevator is headquartered at Düsseldorf, Germany. It manufactures and provides maintenance services for elevators, escalators and moving walks. 

8. Hitachi LTD

Hitach Ltd is headquartered in Tokyo, Japan. The company manufactures and installs elevators and escalator and provides maintenance services. It operates in Middle East through a network of affiliated companies and distributors such as Creative Performance Co. for Elevators in Saudi Arabia, Petrobuild International Elevators Co. W.L.L in Qatar and others.

9. Fujitec Co., LTD

Fujitec Co. Ltd is headquartered at Tokyo, Japan that deals in elevator and escalators. It operates in Middle East through a network of affiliated companies such as Fujitec Saudi Arabia Co., Ltd. and Fujitec Egypt Co., Ltd and distributors such as Al Yousuf Elevators & Escalators LLC, Gulf Integrated Vertical Solutions W.L.L. and others.

10. Orono S.C

Orona S.C is headquartered at Hernani (Gipuzkoa), Spain that manufacturers elevators and escalators. The firm operates in the Middle East through dealers and distributors and provides installation, maintenance and modernisation services.

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