Singapore elevator & escalator market is expected to undergo a substantial growth and is likely to be valued USD 0.12 Billion by 2025 on account of rapid urbanization, increasing capital inflow into the real-estate sector and growing number of high-rise buildings in the country. Moreover, increasing aging population is also leading to growing automation needs for the convenience of commuters which in turn is boosting the elevator & escalator market growth in the country. In addition to this, expanding high rise residential complexes in order to accommodate the growing population is anticipated to provide profitable growth opportunities for elevator & escalator manufactures in Singapore.
Furthermore, increasing investment by government as well as private sector companies on infrastructural development of the country is another major factor boosting the growth of Singapore elevator & escalator market. Apart from that, introduction of latest technologies and up-gradation in elevator and escalator systems are also augmenting the market growth. With introduction of fast speed elevators, the market is poised to grow significantly over the next five years.
Singapore elevator & escalator market is segmented based on type, service, elevator technology, elevator door, end user and region. Based on type, the market can be categorized into elevators, escalators and moving walkways. Among them, in 2024-2032, the elevators accounted for 86.25% market share, in terms of value owing to their growing installation in commercial as well as residential complexes. Furthermore, the segment is expected to maintain its dominance through 2025 and hold a market share of 86.35%, in terms of value by 2025.
Major companies operating in Singapore elevator & escalator market include
Years considered for this report
Historical Years2015-2018
Base Year2024-2032
Estimated Year2024-2032
Forecast Period2024-2032–2025
Objective of the Study
- To analyse and forecast the market size of Singapore elevator & escalator market.
- To forecast Singapore elevator & escalator market based on type, service, elevator technology, elevator door, end user, company and regional distribution.
- To identify drivers and challenges for Singapore elevator & escalator market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions etc. in Singapore elevator & escalator market.
- To identify and analyse the profile of leading players operating in the Singapore elevator & escalator market.
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Market insights research performed both primary as well as exhaustive secondary research for this study. Initially, Market insights research sourced a list of elevator & escalator companies across Singapore. Subsequently, Market insights research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, Market insights research could include the companies which could not be identified due to the limitations of secondary research.
Market insights research calculated Singapore elevator & escalator market size using a bottom-up approach, where data for various end users and its application across various product types were recorded and forecast for the future years. Market insights research sourced these values from the industry experts and company representatives and externally validated through analysing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also used by Market insights research.
Key Target Audience
- Elevator & escalator manufacturers/companies/partners
- Suppliers and distributers
- Government bodies such as regulating authorities and policy makers
- Organizations, industry associations, forums and alliances related to elevator & escalator market
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as escalator & elevator manufacturing companies and end users etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
